The insurers are planning to make suitable changes in their existing products to comply with the latest norms issued by the Insurance Regulatory & Development Authority(Irda)on Monday. Kshitij Jain, MD & CEO, ING Vysya, said the company wi ..
The new norms for unit-linked insurance plans (Ulips) released on Monday are part of the periodic review of regulatory guidelines on various product portfolios, Insurance Regulatory and Development Authority (Irda) Executive Director A Giridhar sa ..
The Government has said that the Companies Act, 1956 does not provide for appointment of Independent Directors. But, as per clause 49 of the Listing Agreement, all the listed companies are required to appoint Independent Directors. Giving this inf ..
Parliament on Wednesday approved enhancing the gratuity limit for employees from Rs3.5 lakh to Rs10 lakh as also the exemption threshold from income tax on it. While the Lok Sabha had passed the Payment of Gratuity (Amendment) Bill 2010 on Monday, t ..
Chapter XVII-B of the Income-tax Act provides for deduction of tax at source on payments made by any assessee. These provisions are also applicable in case of payment made to non-residents. Section 195 casts an obligation on the person responsible ..
India's accounting regulator has sought the financial statements of the eight Indian Premier League franchises to study if their auditors complied with accounting standards and best practices, joining other government agencies combing through ..
Nobody’s ever tried to find out how much money is at stake in the Supreme Court in the various tax and accounting disputes, a conservative estimate suggests a figure of Rs1 lakh crore. According to a recent government statement, there are 1, ..
Even as income–tax officials continue to unravel the maze of transactions behind the funding of IPL and its franchises, the CBDT has clarified that the tax department was only looking into the “taxation aspects” of the transactio ..
The finance ministry has called for tougher foreign direct investment (FDI) norms in the housing and township sector. It has also proposed stringent monitoring to ensure FDI rules are strictly followed in this “sensitive” sector. The min ..
All States to which the Right to Information Act, 2005 applies, have constituted Information Commissions and have thus created infrastructure for implementation of the Act. But all the Information Commissions do not have their buildings. Government ..