Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: empanelment :: articles on VAT and GST in India :: cpt :: Central Excise rule to resale the machines to a new company :: form 3cd :: ACCOUNTING STANDARD :: VAT Audit :: due date for vat payment :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: TDS
 
 
News Headlines »
 How to make your salary tax efficient
 I-T Department may go into overdrive this quarter
 Ways to reduce the TDS deduction from your salary
 4 Tips for choosing who prepares your 2017 Tax Returns
 Processing of income-tax returns under section 143(1) of the Income-tax Act which were filed in Forms ITR-1 to 6 & applicability of section 143(1)(a)(vi)
 Price Waterhouse gets 2-year ban in Satyam case
 How to save income tax under section 80C
 These four expenditures can help you save tax under section 80C
 How to avoid excess deduction of TDS from salary income
 Income-tax deduction from salaries during the financial year 2017-18 under section 192 of the Income-tax Act, 1961
 Comparison of 10 tax-saving investments under Section 80C

ICAI team probing land purchase in city on December 20
December, 17th 2012

A fact finding team of Institute of Chartered Accountants of India (ICAI) will visit the 9 acre property at Luxora Township in Pipla on December 20 to probe its purchase for Rs99 crore. The final report is expected to be submitted on December 31.

Jaideep Shah, a city-based chartered accountant, heads ICAI, the governing body of the country's premium accounting profession. Shah has drawn flak for going ahead with the rather costly purchase, leading to misuse of funds received from students as fees. The property was purchased to build a centre of excellence for ICAI.

Other CAs contend that the property located on the outskirts should not have been bought for such a price in the normal course. They said cheaper land could have been purchased within the city for the centre, which is just a soft skills training agency.

The discontentment led to the committee being formed in October. "The committee will visit the site and examine various aspects. Though it will not involve direct valuation of the land, any visible deviation from the market rates will be probed further," said a source in the six-member committee.

"We are all chartered accountants and deal with clients in the real estate sector and so have a fair knowledge of pricing too. However, our job is to mainly submit a report saying whether all due procedures were followed or not," said the source.

In the meanwhile, a write-up has been posted on the ICAI website, which appears to be Shah's clarification and request not to go by distorted version of facts. Sources in the profession said this can be misleading, especially when a probe is under way.

The decision to post the matter on the website was taken by the council, said one of the committee members, but another denied this was the case.

Members of the six-person fact finding committee are also part of the ICAI's central council. With the central council elections concluding this month and results due in a week, they will have to finish the probe within February.

They are part of the committee in their capacity as central council members, so any person losing the elections will have to quit after February. This will lead to changes in the fact finding committee too. The members are hopeful of submitting a report within this time frame.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Enterprise Resource Planning Solutions ERP Solutions Enterprise Resource Planning Software Solutions ERP Software Solutions Supply Chain Management Solutions SCM Solutions Supply Chain Management Software Solutions SCM Software Solutions Enterprise Resource Planning Solutions India ERP Solutions India Enterprise Resource Planning Software Solutions India ERP Software Solutions India Supply Chain Management Solutions India SCM Solutions India Supply Chain Management Software Solutions India SCM Software Solutions India

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions