« Top Headlines » Open DEMAT Account in 24 hrs  Income Tax Return Filing: 10 Mistakes To Avoid When Filing ITR For AY 2024-25  Old vs New Tax Regime: Who should move to the New Tax Regime from the old one?  Income Tax Calculator FY 2023-24: How To Know Your Tax Liability Online On IT Dept's Portal?  BackBack Income Tax Act amendment on cards on tax treatment of MSME dues  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing. Check details here  Income tax slabs FY 2024-25: Experts share these 8 benefits for taxpayers in new income tax regime  How To File ITR Online - Step by Step Guide to Efile Income Tax Return, FY 2023-24 (AY 2024-25)  Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning  What Are 5 Heads Of Income Tax?  Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals   Income Tax Return: 5 lesser-known tax-saving tips from Section 80 «  `ICAI is not averse to opening up of the accounting sector'... The vexed issue of appointment of directors... » SEBI forms new panel to take up disclosures, accounting standards September, 14th 2006 The Securities and Exchange Board of India has constituted a new committee on disclosures and accounting standards, headed by Mr Y.H. Malegam. The capital markets regulator had earlier constituted two committees, both chaired by Mr Y.H. Malegam. While the committee on disclosures was set up to advise SEBI on issues related to the disclosure requirements in the documents pertaining to the offering of securities in the primary market, the accounting standards committee was set up to consider accounting standards in line with the Indian laws and best international practices and also to consider and recommend uniform accounting norms for the capital market and its intermediaries in India. These two committees have now been merged to form SCODA or the SEBI Committee on Disclosures and Accounting Standards in a bid to address the overlaps in the areas addressed by them. The terms of reference of the committee are to advise SEBI on issues related to the disclosure requirements in the offer documents/application forms/advertisements and in any other mode of mass communication used by the issuer for protecting the interests of the investors and improving the overall efficiency of the market. It is also to review continuous disclosure requirements of listed companies and for disclosures, valuation methods and standard norms for intermediaries operating in the capital market. The committee will additionally advise SEBI on issues for addressing the operational and systemic risks, if any in the primary securities market. The committee will also ensure smooth implementation of accounting standards, statements guidance notes and studies evolved by the ICAI to the extent that it pertains to disclosures in the capital market documents and for disclosures related to intermediaries. It will suggest how best to coordinate between SEBI and ICAI, such as by constituting study teams for providing inputs to accounting standards board (ASB) and capital markets committee and for providing inputs to ICAI for evolving new accounting standards and reviewing the existing accounting standards.