In an effort to hasten the process of settlement in primary market issuances, the Securities and Exchange Board of India (Sebi) is mulling ways to shift to the T+2 (transaction+2 days) system, which is followed by the secondary market for settlement ..
The Company Law Board today approved Tech Mahindra's proposed acquisition of a 31 per cent stake in Satyam Computer and asked the buyer to deposit Rs 1,756 crore for the deal by April 21 in a designated account. The CLB, in its order, also asked Tech ..
The Bombay High Court on Thursday ordered the disciplinary committee of the Institute of Chartered Accountants of India (ICAI) to provide a fair hearing to Partha Ghosh, a Price Waterhouse (PWC) partner and a senior manager, DVP Rao, in connection wi ..
The number of income-tax payers in the country has nearly doubled from 1.73 crore in 1998-99 to 3.37 crore in 2007-08, going by the data available with the tax department. In 1998-99, the effective income-tax payers’ base stood at 1.73 crore with the ..
ITAT, DELHI BENCH ‘H’ NEW DELHISahara India Fianncial Corpn. Ltd.v.Addl. CIT ITA NOS. 97 TO 100/DEL/2006MARCH 20, 2009RELEVANT EXTRACTS:** ** ** ** ** ** ** ** ** ** ** **3. We have duly considered the rival conte ..
To suggest that the legal profession be treated as any other commercially rendered services and that law firms be considered a commercial entity or a business is sacrilege. One of the reasons for the opposition to the entry of foreign law firms, part ..
The government may set up an expert panel to advise it on how to prepare norms for companies to record and submit sensitive operational details on cost of production. The government, which is reviewing the scope of cost audit for enterprises, aims to ..
Making a strong case for reduction in the corporate tax rate to 25 per cent, a FICCI-PwC study has said that companies have to pay about 24 taxes. "The study has led us to (the) conclusion that (the) corporate tax rate should not be more than 25 per ..
In what could have serious ramifications for multinational companies and their expat employees, the Supreme Court on Wednesday held that a foreign company registered and situated abroad is liable to deduct tax (TDS) on salary paid in the home country ..
INDEPENDENT DIRECTORS: CLAUSE 49 IS FINE, BUG LIES IN APPOINTMENTS Even as corporates generally appreciate the prescribed corporate governance norms set out in Clause 49 of the Listing Agreement, a Grant Thornton-Ficci study reveals the bane of the i ..
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