Others - Corporate Law Reporter

Compliance Referencer from ICAI on CCBCAF & SMP

The Committee for Capacity Building of CA Firms and Small & Medium Practitioners is a non-standing Committee of the Institute of Chartered Accountants of India formed under regulatory provisions of The Chartered Accountants Act, 1949. This Committee was formed in the month of February,2010 under nomenclature ˜Committee for Capacity Building of CA Firms and Small… Read More

Finance Minister, Shri Pranab Mukherjee’s Key Note address at Pravasi Bhartiya Divas 2012

It gives me great pleasure to address this distinguished gathering at the Pravasi Bharatiya Divas 2012. As we all know, this day celebrates the achievements of the ˜pravasi bharatiya™ or the non-resident Indians whose sterling role in nation building efforts of their adopted countries is recognized all across the world. This day also seeks to… Read More

Clarification on Interest Rates on Small Savings Schemes

Ministry of Finance has clarified that although the rate of interest on small savings schemes will be aligned every year with rates of Government securities of similar maturity, with suitable spread, the rates are fixed and not floating so far as individual investments except PPF are concerned. This is in response to news items… Read More

New Year 2012 – Same Goal

Year™s end is neither an end nor a beginning but a phase going on, with all the wisdom and experience that it can instill in us. The New Year 2012 is here with the duties and opportunities of the coming Twelve Months! Cheers to a New Year and another chance for us to get it… Read More

Landmark steps taken to Tackle Corruption and Ensure Delivery of Services to Citizens in Time Bound Manner

The Ministry of Personnel, PG & Pensions brought landmark legislations to check corruption and to put in place measures for ensuring time-bound services for citizens. Further measures were initiated to make bureaucracy accountable and effective. Major initiatives/achievements of the Ministry during the year are as under: Lokpal Bill, 2011 The Government introduced in Lok Sabha the Lokpal and Lokayuktas Bill 2011, aimed… Read More

FM to hold pre-budget meetings with from Jan 11 onwards

Finance Minister Pranab Mukherjee is expected to hold brainstorming sessions with various stakeholders during his annual pre-budget meetings with sectoral experts, representatives, industry captains and economists from January 11 onwards. The objective of the meetings will be to get their feedback and inputs for incorporating them in Budget 2012-13 and to elicit views of different interest groups on arresting the economic slowdownand combating the impact… Read More

Right of Citizens for Time Bound Delivery of Services and Redressal of their Grievances Bill, 2011

The Government recently introduced the Right of Citizens for Time Bound Delivery of Services and Redressal of their Grievances Bill, 2011 in Parliament. Under the Bill, the designed authority at the grass-root level will have powers to redress the grievances of the block level. Shri V. Naraynasamy, Minister of State for Personnel, Public Grievances and… Read More

Salient Features of Lokpal and Lokayuktas Bill 2011 Introduced in Lok Sabha

Government today introduced in Lok Sabha the Lokpal and Lokayuktas Bill, aimed at setting up the body of Lokpal at the Centre and Lokayuktas at the level of the States. Government also introduced a Bill for amending the Constitution for conferment of Constitutional status on both bodies. Government also withdrew earlier Lokpal Bill, 2011 as it decided to introduce… Read More

Amendment to Schedule XIV to the Comapnies Act,1956

Schedule IV has been amended to define depreciation rates for Mineral oil Concerns - Field operations (above ground)Portable boilers, drilling tools, well-head tanks, etc. (NESD) and Rigs (NESD). The amendment notification is attached herewith. Read More

All Non-Sensitive Files to be Computerisated to Facilitate RTI Applicants

The Government proposes to computerize all non-sensitive files so as to reduce the burden of RTI applicants. The Government of India, in recognition of the long-felt need for efficiency in Government processes and service delivery mechanisms, has included e-Office as one of the Mission Mode Projects (MMP) under the National e-Governance Plan (NeGP). The e-Office… Read More

Setting up of State Welfare Boards under Building and Other Construction Workers Act

The Government has enacted the Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Act, 1996 and the Building and Other Construction Workers™ Welfare Cess Act, 1996 with a view to regulating the employment and conditions of service of building and other construction workers and provide for their safety, health and welfare… Read More

Regulatory Body for Anti-doping

The National Anti Doping Agency (NADA) has already been set up by Government of India and is functioning with effect from 1.1.2009. This was stated by Shri Ajay Maken, Minister of State (I/C) for Youth Affairs & Sports, in the Lok Sabha today, in a written reply to a question by Shri Ravindra Kumar Pandey.… Read More

ICWAI now ICAI

Cost and Works Accountants will now only be known as Cost Accountants, with Parliament approving amendments to the existing legislation earlier today. Also, there will be some brand confusion as the Institute of Cost and Works Accountants of India will now be called the Institute of Cost Accounts of India. As a consequence, the Chartered… Read More