Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: TDS :: articles on VAT and GST in India :: due date for vat payment :: VAT Audit :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: ACCOUNTING STANDARDS :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
News Headlines »
 GST Council fails to break deadlock over indirect tax regime, next meet on Dec 11 and 12 to hammer out differences
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016
 New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits
 Pay 50% tax on unaccounted deposits, or 85% if caught, says Modi government
 Deadline to pay property tax in old currency extended
 Cabinet clears amendments to Income Tax Act

High Powered Committee Set up by ICAI
May, 01st 2010

The Government has informed the Parliament that the Institute of Chartered Accountants of India (ICAI) in terms of Section 17(2) of the Chartered Accountants Act, 1949 constituted a fact finding Committee called High Powered Committee to look into the entire gamut of financial reporting, accounting, auditing aspects with regard to Satyam fiasco and suggest changes wherever required for the purpose of making appropriate recommendations to Government, SEBI and other regulators. 

Giving this information in reply to a question in the Lok Sabha, the Minsiter for Corporate Affairs, Shri Salman Khurshid told the House that the fact finding process is on. 

Shri Khurshid also informed that ICAI has sought following details from around 150 firms of Chartered Accountants registered with it on the following:

i. Agreement/contract with the multinational entity.

ii. Terms and conditions for usage of name of multinational entity.

iii. Arrangement for sharing of fees/profit with other Indian CA firms with similar/identical name and with the multinational entity.

iv. Arrangement for sharing of human resources and infrastructure with other Indian CA firms with similar/identical name and with the multinational entity.

v. Details of remittances made to and received from the multinational entity.

vi. Copy of Partnership deed of the CA firms registered with ICAI with similar/identical name, as in vogue in the last five years.

vii. Income-tax assessment orders for the last 3 years in respect of the CA firms registered with ICAI with similar/identical name.  If assessment orders have not been received, then to submit computation of income and copies of returns.

viii. Copies of letterheads and visiting cards generally used.

At present, the aforementioned details are not available on the database of the ICAI, since these have not been called for in the past.  These details have now been called for as the Committee has felt that the same would enable it to reach an appropriate conclusion.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Web Application Development Web based Software Solution Web Application Deployment Web Application Solutions Web Application Software Development Web Application Deployment Web Application Programming Web Application Design and Development

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