Income tax Departmnt Slams ICAI + Withdraws Exemption

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Reporting violations of tax laws by the chartered accountants regulator Institute of Chartered Accountants of India (ICAI), which had dubbed accounts fudging in Satyam Computer as shameful, the Income-Tax department has withdrawn tax exemptions given to the body. A panel for tax assessment found violations such as failure to get the accounts signed by auditors, … Read more Income tax Departmnt Slams ICAI + Withdraws Exemption

Burnpur Cement – Combine Phase I + II of Patratu Project

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Burnpur Cement’s board, at its meeting held on January 10, 2009, has given an ‘in principal approval’ for combining the Phase I and Phase II of the Project at Patratu, considering, the market potential, specially in eastern part of the country and for other technical reasons, subject to availability of fund to finance the enhanced … Read more Burnpur Cement – Combine Phase I + II of Patratu Project

CARE assigns AA+ rating for Tata Chemicals NCD issue

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Credit rating agency CARE has assigned the ‘CARE AA+’ rating to the non-convertible debenture issue by Tata Chemicals to the tune of Rs 240 crore. Instruments holding the CARE AA+ rating are considered to be highly safe and have a timely service of debt obligations. The key rating was awarded to Tata Chemicals due to … Read more CARE assigns AA+ rating for Tata Chemicals NCD issue

HRD Ministry tightens norms for setting up offshore campuses

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The HRD Ministry issued a new set of 15 guidelines for private Indian educational institutions planning to set up offshore campus. These guidelines have been notified and would be made applicable for all future proposals for setting up offshore campuses. As per a few provisions of the new guidelines, the institutions cannot take faculties from … Read more HRD Ministry tightens norms for setting up offshore campuses

IT Dept brings 8 more firms in Satyam tax evasion probe

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Tightening the knuckles of defaulters of income tax evasion, the Income Tax (I-T) department is likely to include eight other related firms for its investigation into the possible tax evasion by Satyam. Meanwhile, the department is planning to consolidate its investigation of all the companies (Satyam and related companies) under one investigating officer for better … Read more IT Dept brings 8 more firms in Satyam tax evasion probe