Important communication from President ICAI

Attention : Candidates and Voters for the forthcoming elections It has been brought to my notice that the Election Code of Conduct evolved by the Council is being violated by organizing parties and other programmes under one pretext or the other.

ICAI Election 2009 Appointment of Authorised Representatives

ICAI Election 2009 Appointment of Authorised Representatives performa has been released by the Institute of Chartered Accounts of India In terms of the provisions of sub-rule (2) of rule 26 of the Chartered Accountants (Election to the Council) Rules, 2006, read with sub-regulation (10) of regulation 134 of the Chartered Accountants Regulations, 1988, Candidate can appoint the two members of the Institute...

ICAI Elections 2009

The polling for elections to the Central Council and the Regional Councils of the Institute will be conducted on 4th & 5th December, 2009 at the polling booths located in Ahemdabad, Bangalore, Chennai, Delhi/New Delhi, Hyderabad, Jaipur, Kolkata, Mumbai and Pune and on 5th December,2009 at the polling booths in the remaining centers.

New Service tax items added in Union Budget 2009 India

Service Tax to be imposed on the following services: • Service provided in relation to transport of goods by rail • Service provided in relation to transport of coastal cargo; and goods through inland water including National Waterways • Advice, consultancy or technical assistance provided in the field of law (this tax would not be applicable in case the service provider or service receiver is...

India Union Budget 2009 Direct Taxes

No changes made in the Corporate Tax rates. Exemption limit in personal income tax raised by Rs.15,000 from Rs.2.25 lakh to Rs.2.40 lakh for senior citizens; by s.10,000 from Rs.1.80 lakh to Rs.1.90 lakh for women tax payers; and by Rs.10,000 from Rs.1.50 lakh to Rs.1.60 lakh for all other categories of individual taxpayers. Deduction under section 80-DD in respect of maintenance, including medical...

Brihan Mumbai Storm Water Drainage Project (BRIMSTOWA)

Provision for the project BRIMSTOWA initiated in 2007 and funded through Central Assistance to address the problem of flooding in Mumbai, enhanced from Rs.200 crore in Interim B.E. 2009-10 to Rs.500 crore in B.E. 2009-10 to expedite completion of the project.

Allocation under Jawaharlal Nehru National Urban Renewal Mission

Urban Infrastructure Allocation under Jawaharlal Nehru National Urban Renewal Mission (JNNURM)stepped up by 87 per cent to Rs.12,887 crore in B.E. 2009-10 over B.E. 2008-09.Allocation for housing and provision of basic amenities to urban poor enhanced toRs.3,973 crore in B.E. 2009-10. This includes provision for Rajiv Awas Yojana(RAY), a new scheme announced.

The Export Promotion Councils Expempted from Service Tax

The Export Promotion Councils and the Federation of Indian Export Organizations (FIEO) provide a valuable service in augmenting our export effort. I propose to exempt them from the levy of service tax on the membership and other fees collected by them till 31st March, 2010 .

India Service Tax on advice, consultancy or technical assistance provided in the field of law

As the Hon’ble Members are aware, services provided by chartered accountants, cost accountants, and company secretaries as well as by engineering and management consultants are presently charged to service tax. Although there is a school of thought that legal consultants do not provide any service to their client, I hold my distinguished predecessor in high esteem and disagree! As such, I propose...

Student Loans to Weaker Sections

To enable students from economically weaker sections to access higher education, it is proposed to introduce a scheme to provide them full interest subsidy during the period of moratorium. It will cover loans taken by such students from scheduled banks to pursue any of the approved courses of study, in technical and professional streams, from recognised institutions in India . It is estimated that...
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