SAVINGS, SOURCE FOR LENDING – EXPECT INCOME TAX EXEMPTION
MANY OF THE ‘MIDDLCE CLASS’ INDIANS HAVE THE HABIT OF SAVINGS TO MEET THEIR, SUCCESSORS’ FUTURE NEEDS, SINCE WE ARE LIVING UNDER UNSECURE FUTURE CIRCUMSTANCES. THEY WOULD LIKE TO KEEP THEIR SAVINGS IN LIQUID FORM OF CASH, RISK FREE DEPOSITS WITH POSTAL DEPARTMENT, BANKS, FINANCIAL INSITUTIONS SO THAT THEY CAN MEET THEIR NEEDS ON TIME […]
Read MoreRESERVE BANK OF INDIA, Balance Sheet, NBFC, within 3 months from end of the Financial Year
Description: Notification No.DNBS.217/CGM(US)-2010 dated December 01, 2010 “Every non- banking financial company shall finalize its balance sheet within a period of 3 months from the date to which it pertains”. Source: 1. www.icaihyd.org 2. HYDERABAD BRANCH OF SIRC NEWSLETTER.Volume:13 Issue:02. February, 2011, Page No.7. Our comment: RBI Directs that the Balance Sheet of every NBFC […]
Read MoreChartered Accountants/ Multinational Audit Companies
Description: The Institute of Chartered Accountants of India (ICAI) has accused multinational audit firms operating in India of violating the Chartered Accountants Act., and has asked the Reserve Bank and the Ministry of Corporate Affairs to investigate their accounts. Source: 1. www.tpcc.in 2. The Tax Referencer .Volume121. Issue No.6, 10.Oct, 2011, Page No.118 Our Comment: […]
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