Now, the income tax scrutiny cases will be limited to the information reported in AIR (if selected through AIR) and AO can travel beyond that only of he has reason to believe that income of Rs. 10 lac has been escaped that too with the permission of CIT.
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"With the plethora of drafting b****ers, glaring inequities and anomalies in the reviseddirect tax code(DTC) placed before the parliament, DTC appears to be virtually beyond repair and needs to be dumped in the larger interests of both taxpayers and the revenue."This was stated by tax expert Mukesh Patel, while addressing a large gathering of taxpayers and investors on 'Cracking the Code - Pains and Gains' at theAhmedabad Management Association(AMA). He made a fervent plea to the
October 13, 2010The Institute of Chartered Accountants of India [ICAI] Inks Pact with Corporation Bank
Caption: (L-R) Shri Asit Pal, Executive Director, Corporation Bank, Shri Ramnath Pradeep, Chairman & Managing Director, Corporation Bank, Shri Vinod Rai, Comptroller and Auditor General of India, CA. Amarjit Chopra, President, ICAI, Shri Sanjeev Maheshwari, Central Council Member , ICAI.
The Institute of
Water, water, everywhere, And all the boards did shrink; Water, water, everywhere, Nor any drop to drink.
18th century English poet S. T. Coleridge, in the above lines, has represented the current situation in some of the densely-populated regions of our country. It has rained more than our needs this year. Hundreds of acres of land across our country have got submerged under water. Hundreds of kilometers of our roads have been washed away. Hundreds of people have been displaced, stuck
RBI/2009-10/130
DBOD.BP.BC No. 32 / 21.01.001/ 2009-10
August 27, 2009The Chairmen/Chief Executives of all Commercial Banks
(excluding RRBs)
Dear Sir,
Collection of account payee cheque – Prohibition on crediting proceeds to third party account
Please refer to our circular DBOD.BP.BCNo.56/21.01.001/2005-06 dated January 23, 2006 in terms of which banks are prohibited from crediting 'account payee' cheque to the account of any person other than the payee
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