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Union Home Minister Shri Rajnath Singh launches Online Analytical Tool to monitor foreign contributions under FCRA

Home ministry launches online tool to monitor use of foreign funds by NGOs

Union Home Minister Shri Rajnath Singh here today launched an Online Analytical Tool to facilitate closer monitoring of the flow and utilisation of foreign contributions received by various organisations registered or permitted under the Foreign Contribution (Regulation) Act, 2010.  This web-based tool enables decision-makers in various Departments of Government to …

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ICAI President’s Message – June 2018

ICAI President’s Message – June 2018

My dear Professional Colleagues, Good governance has always been at the core of all successful institutions across the globe. The imperative need to have good governance surfaced to demarcate the division between its ownership and its management. Concept of corporate governance rests on the fulcrum of transparency behind all decisions …

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ICAI issues Accounting Standard for Local Bodies.

ICAI issues Accounting Standard for Local Bodies

ICAI issues Accounting Standard for Local Bodies The Committee on Accounting Standards for Local Bodies (CASLB) is formulating Accounting Standards for Local Bodies (ASLBs) since March, 2005 to improve financial reporting for local bodies. So far, the Committee has issued thirteen ASLBs including one cash based ASLB that will facilitate …

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ICAI objects CBDT notification making Chartered Accountant’s ineligible to determine Fair market value of unquoted equity shares

ICAI has submitted its representation to CBDT by Direct Taxes Committee of ICAI with respect to the Notification No 23/2018, dated 24th May, 2018 amending Rule 11UA omitting reference to term “accountant”, thereby making Chartered Accountants ineligible to determine the FMV of unquoted equity shares as per the Discounted Free …

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EPFO notifies 8.55% interest rate on PF for 2017-18, lowest in 5 years

EPFO notifies 8.55% interest rate on PF for 2017-18, lowest in 5 years

Retirement fund body has asked its field offices to credit 8.55 percent rate of interest for 2017-18 into the PF accounts of around 5 crore subscribers. This is the lowest rate since 2012-13. The Labour Ministry has conveyed approval of the central government to credit 8.55 per cent rate of …

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