Re: UPDATES FROM TAX GURU (in this message: 7 new items)

On Sun, Jan 3, 2010 at 9:37 AM, LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in> wrote:

UPDATES FROM TAX GURU (in this message: 7 new items)

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• Establishment of Branch (BO) / Liaison Offices (LO) in India by Foreign Entities — Delegation of Powers
• Remuneration payable to the Statutory Central and Branch Auditors of Public Sector Banks from the year 2006-07
• Many Companies following financial year from January-December extended their accounting period to follow April-March cycle
• ICAI president message on Synergy with C&AG, New Branches, Membership Restoration, Student Initiatives, Training of Articled Assistants Abroad, Form 112, IFRS Convergence, Companies Bill, 2009 etc
• CVC advised initiations of major penalty proceedings against 113 officers
• "Corporate Governance" – Corporate Law – An Understanding?
• Background and summery of Companies Bill 2009

Establishment of Branch (BO) / Liaison Offices (LO) in India by Foreign Entities — Delegation of Powers Posted: 02 Jan 2010 06:55 PM PST Attention of Authorised Dealer Category – I banks is invited to Notification No. FEMA 22/2000-RB dated May 3, 2000 viz. Foreign Exchange Management (Establishment in India of Branch or Office or other Place of Business) Regulations, 2000 as amended... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]

Remuneration payable to the Statutory Central and Branch Auditors of Public Sector Banks from the year 2006-07 Posted: 02 Jan 2010 06:40 PM PST The matter regarding assignment of the tax audit work to one of the SCAs and fee payable to SCA so selected was reviewed and it has been decided that PSBs may appoint at the Head office level also any chartered accountant firm as their tax auditor... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]

Many Companies following financial year from January-December extended their accounting period to follow April-March cycle Posted: 02 Jan 2010 06:32 PM PST An increasing number of companies are extending their accounting period to facilitate the change in financial year from January-December to the commonly-followed April-March cycle. By doing so, the companies would be required to publish balance... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]

ICAI president message on Synergy with C&AG, New Branches, Membership Restoration, Student Initiatives, Training of Articled Assistants Abroad, Form 112, IFRS Convergence, Companies Bill, 2009 etc Posted: 02 Jan 2010 06:28 PM PST Its that time of the year when we are busy reflecting on our past and setting new goals for our future. Its that time of the year when fresh resolutions are being listed and plans for achieving greater prosperity are being inked. Welcome to 2010 ... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]

CVC advised initiations of major penalty proceedings against 113 officers Posted: 02 Jan 2010 06:22 PM PST THE Central Vigilance Commission disposed of 416 cases during October 2009 referred to it for advice. The Commission advised initiations of major penalty proceedings against 113 officers. Of these, 32 were from public sector banks, 27 from M/o... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]

"Corporate Governance" – Corporate Law – An Understanding? Posted: 02 Jan 2010 01:27 AM PST Company Law is very complicated and interesting subject. If we look at all the corporate regulations or law, it is very clear that it focuses mainly on the interests of the shareholders. The liability of the members is limited in limited companies... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]

Background and summery of Companies Bill 2009 Posted: 02 Jan 2010 01:15 AM PST The Ministry of Corporate Affairs took up a comprehensive revision of the Companies Act, 1956 (the Act) in 2004 keeping in view that not only had the number of companies in India expanded from about 30,000 in 1956 to nearly 7 lakhs, Indian companies... [[ This is a content summary only. Visit my website www.taxguru.in for full article ]]

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Palash Biswas
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