FDI in multi brand retail and in aviation


Hi friends,

Brave government of India has taken one another step of reforms in FDI by allowing direct foreign investment in multi brand retail chain and also in civil aviation.

Raj Jain of Bharti Walmart, says that overall, This is a Big policy announcement for the Indian Economy not only for multi brand retail but for several sectors and several issues which have been pending for a long time, we welcome decision.

Calendar Year 2012
(Jan.-Dec.)
Amount of FDI inflows                                  (In Rs. Crore)                                (In US$ mn)
1.January, 2012                                             10,288                                               2,004
2.February, 2012                                            10,874                                              2,211
3.March, 2012                                                 40,766                                              8,101
4.April, 2012                                                      9,620                                              1,857
5.May, 2012                                                      7,229                                               1,327
6.June, 2012                                                     6,971                                               1,244
Year 2012 (up to June, 2012) #                      85,748                                             16,744
Year 2011 (up to June, 2011) #                      75,507                                             16,829
%age growth over last year                         ( + ) 14 %                                      ( – ) 0.50 %
Note: (i) # Figures are provisional, subject to reconciliation with RBI, Mumbai.
(ii) Country & Sector specific analysis from the year 2000 onwards available, as Company-wise details are provided by RBI from April, 2000 onwards only.

 Data has been taken from website of department of indusrtial & promotion of Government of India, Ministry of Commerce & Industry.

 

 

Advertisements

Finally justice came in favor of 26/11 victims: Apex court upheld kasab’s death sentence


Hi firends,

Yesterday, Supreme court of India upheld the death sentence of Kasab who is the only surviving terrorist of 26/11.

Bench of Justice Aftab Alam & C.K. Prasad said that ” We constrained to hold that death penalty is the only sentence that can given in the circumstances of the case.

So now we have to see when kasab will be hang till death.

Jay Hind

Jay Bharat

Satymeve Jayte

Salute VVS LAXMAN- The Cricket legend of India


Hi friends,

18th August, 2012 is very unfortunate day for Indian cricket as one of the legend of cricket V V S LAXMAN has announced his retirement from the international cricket.

V.V.S. Laxman, who won many a match for India with his wristy elegance including an epic 281 against Australia in Kolkata, on Saturday announced his retirement from international cricket with immediate effect, bringing down the curtains on a glorious career spanning 16 years.

The 37-year-old Laxman, one of the finest batsmen in contemporary cricket, said that he felt it was the right time to bid adieu to the game which he played with “great pride for the country”.

“I would like to announce my retirement from international cricket with immediate effect. I think it’s right time to move on”, an emotional Laxman told a press conference in Hyderabad.

Laxman, who was picked in the Indian squad for the two-match Test series against New Zealand beginning here from August 23, surprisingly chose to hang his boots with immediate effect without taking the opportunity to bow out of international cricket in front of his home crowd.

”It was a tough decision to take, I have always listened to my inner conscience. The inner voice is a divine voice, I have always done that right through my career. There was a lot of debate in the last four days. I felt this is the right time to move on,” he said.
Laxman, who earned the sobriquet ‘Very Very Special’ for his style and flair, played 134 Tests, amassing 8,781 runs at an average of 45.97. He scored 17 hundreds and 56 half centuries in the longer format of the game.
Laxman, who was not a regular in India’s ODI team, played 86 matches for an aggregate of 2338 at an average of 30.76.
Unfortunately for him, he could never be a part of India’s World Cup campaigns which remains one of his biggest regrets.
”I have always kept my country’s success and need ahead of my personal aspirations. And while I would love contributing to the team’s success, especially against England and Australia, I think this is the right to give opportunity to the youngsters in home conditions ahead of international assignments,” he said.
Laxman, however, made it clear that he will continue to play for Hyderabad till this year.
”It was a dream for me to play for India since childhood and I am extremely thankful to the Almighty for giving me the opportunity to serve my country.”
”I always felt that through cricket I got an opportunity to serve my country. I was fortunate to play in an era when India played some of its best cricket, home as well as away.”
‘I would like to thank everyone who guided me and encouraged me through my career.”
Laxman will always be remembered for the magnificent 281 he scored against Australia at the Eden Gardens in March 2001 — an innings which didn’t just change the face of the match but also turned the entire series on its head.
That knock was ranked sixth in Wisden’s list of 100 great Test innings in the history of the game. It was just one of the several match-winning knocks that the unassuming batsman played against the mighty Aussies at their peak.
‘When I remember that knock, I feel how lucky I was to be part of history. How we changed the result of that match. It is always emotional when I think of that knock,” he said.
Asked whether he had taken a hasty decision for which he will regret later, he said, ”I never regret the decisions I take, because my conscience is clear. I got the privilege to serve the country. I am satisfied with the decision, definitely I will never regret that I took the decision”.
”I always tried to my best to give everything to the team while mantaining my dignity. There were times I am sure I did not perform well, I disappointed them but I can assure that it was not due to lack of effort,” he said.
”I conclude in all humility by praying to the Almighty to take and bless Indian cricket to the highest level in the world in all forms of the game.”
”It has been an emotional, fabulous and memorable journey which I will definitely cherish for the rest of my life,” Laxman said.
”I was very unfortunate to play with the collegues who played with a lot of pride, and most of them went on to become legends of the game. The affection, bonding and friendship they shared with me will always be cherished all my life,” Laxman said.
Laxman said he has not decided what he will do post post retirement.
”My immediate and most important goal would be to share my experiences with the Hyderabad cricketers and if I can do what my seniors did when I was playing for Hyderabad earlier on in my career then I would be very happy.”
”I learnt a lot from my seniors while I was growing up and if I can share some of my experiences, if I can help some these youngsters realise their potential I would be very happy.”
‘We took a lot of pride in the way we played for the country and we all had one single goal and one single ambition of that is to win matches consistently for the country, not only in India but also overseas and those efforts have been culminated into us being the no.1 Test playing nation of the world and I am sure the future players of Indian cricket will take our legacy forward.”
The Hyderabad-stylist had come under scrutiny following his failure in the Test series against England and Australia last year.
Against England he scored just 182 runs for an average of 22.75 and was even worse against Australia, scoring 155 in eight innings at just 19.37 in the eight successive lost Tests that were played against the two sides.
”There have been people who have criticised me but my set of well wishers have been more. I can tell you that it is not easy to please each and every person. Failure and success are part and parcel of a cricketer’s life,” he explained.

DIRECT ENTRY TO CHARTERED ACCOUNTANCY COURSE – AMENDMENTS TO THE CHARTERED ACCOUNTANTS REGULATIONS, 1988


1
ANNOUNCEMENT
2nd August, 2012
DIRECT ENTRY TO CHARTERED ACCOUNTANCY
COURSE – AMENDMENTS TO THE CHARTERED
ACCOUNTANTS REGULATIONS, 1988


This is to inform all concerned that with the issuance of the Notification
No. 1-CA(7)/145/2012 on August 1, 2012, the provisions relating to Direct
Entry Scheme for Graduates/Post Graduates, etc., with prescribed percentage of marks, to the Chartered Accountancy Course have come into force from August 1, 2012. The said Notification is reproduced hereinbelow for information of all concerned.

Interested persons/students, i.e., freshers and existing students are advised to watch for the details of registration formalities and of transitional scheme including fee payable, registration form which will be announced/published by around August 16, 2012.
…………………………………..
[PUBLISHED IN PART III, SECTION 4 OF THE GAZETTE OF
INDIA, EXTRAORDINARY DATED, THE 1ST AUGUST, 2012]
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
New Delhi, the 1st August, 2012
NOTIFICATION
NO.1-CA(7)/145/2012.- Whereas certain draft regulations further to amend the
Chartered Accountants Regulations, 1988, were published as required by sub-section
(3) of section 30 of the Chartered Accountants Act, 1949 (38 of 1949), in the
notification of the Institute of Chartered Accountants of India No. 1-CA(7)/145/2012,
dated the 23rd February, 2012, in the Gazette of India, Extraordinary, Part III,
Section 4, dated the 23rd February, 2012, inviting objections and suggestions from
persons likely to be affected thereby, before the expiry of forty-five days from the
date on which the copies of the Gazette containing the said notification were made
available to the public;
And whereas the copies of the said Gazette were made available to the public
on the 28th February, 2012;
And whereas the objections and suggestions received from the public on the
said draft regulations have been considered by the Council of the Institute;
Now, therefore, in exercise of the powers conferred by sub-section (1) of
section 30 of the said Act, the Council, with the approval of the Central Government,
2
hereby makes the following regulations further to amend the Chartered Accountants
Regulations, 1988, namely:-
1. (1) These regulations may be called the Chartered Accountants
(Amendment) Regulations, 2012.
(2) They shall come into force on the date of their publication in the
Official Gazette.
2. In the Chartered Accountants Regulations, 1988, (hereinafter referred to as
the said regulations), in regulation 2, in sub-regulation (1),-
(i) after clause (xiii), the following clause shall be inserted, namely:-
`(xiii a) “rules” means the rules made by the Central Government
under the Act;’;
(ii) in clause (xv), for the words “or any Deputy”, the words “or any
Additional or Joint or Deputy” shall be substituted.
3. In regulation 25C of the said regulations, for the words “Common Proficiency
Test” wherever they occur, the words “Common Proficiency Course” shall
respectively be substituted.
4. In regulation 25D of the said regulations,-
(i) in sub-regulation (1),-
(a) after the words, “Central Government”, the words “or the State
Government” shall be inserted;
(b) after the words “as equivalent thereto”, the words “for the
purposes of admission to graduation courses” shall be inserted.
(ii) after sub-regulation (1), the following sub-regulations shall be
inserted, namely:-
“(1A) Any graduate or post graduate referred to in sub-clause (ix) of regulation
2 shall be exempted from passing the Common Proficiency Test under this
regulation if such person is a –
(i) graduate or post graduate in commerce having secured in aggregate a
minimum of fifty-five per cent. of the total marks or its equivalent grade
in the examination conducted by any recognised University (including
Open University) by studying any three papers of 100 marks each out
of Accounting, Auditing, Mercantile Laws, Corporate Laws, Economics,
Management (including Financial Management), Taxation (including
Direct Tax Laws and Indirect Tax Laws), Costing, Business
Administration or Management Accounting; or
(ii) graduate or post graduate other than those referred to in clause (i),
having secured in aggregate a minimum of sixty per cent. of the total
marks or its equivalent grade in the examination conducted by any
recognised University (including Open University).
3
(1B) Any candidate who has passed the Intermediate examination conducted
by the Institute of Cost Accountants of India set up under the Cost and Works
Accountants Act, 1959 (23 of 1959) or by the Institute of Company Secretaries
of India set up under the Company Secretaries Act, 1980 (56 of 1980) shall also
be exempted from passing the Common Proficiency Test under this regulation.
Explanation.- For the purposes of sub-regulations (1A) and (1B),-
(i) for calculating the percentage of marks, the marks secured in subjects
in which a person is required by the University (including open University)
to obtain only pass marks and for which no special credit is given for
higher marks, shall be ignored; and
(ii) any fraction of half or more shall be rounded up to the next whole
number.”.
5. In regulation 28C of the said regulations,-
(a) for the words “Professional Competence Examination” wherever they
occur, the words and brackets “Intermediate (Professional
Competence) Examination” shall respectively be substituted;
(b) in sub-regulation (1),-
(i) in clause (a),-
(a) after the words, “Central Government”, the words “or
the State Government” shall be inserted;
(b) after the words “as equivalent thereto”, the words “for
the purposes of admission to graduation courses” shall
be inserted;
(ii) (a) in clause (b), for the word “worked”, the word “served”
shall be substituted;
(b) after the words “examination is held”, the words “and
has been so continuing on the first day of the said month”
shall be inserted;
(iii) in the second proviso, after the words, brackets and letters “to
appear in the Professional Education (Examination-II)”, the
words, brackets and letter “and he fulfils the condition laid
down under clause (b)” shall be inserted.
6. In regulation 28D of the said regulations, –
(a) for the words “Integrated Professional Competence Course” wherever
they occur, the words and brackets “Intermediate (Integrated
Professional Competence) Course” shall respectively be substituted;
(b) for sub-regulation (2), the following sub-regulation shall be
substituted, namely:-
4
“(2) No candidate shall be eligible for enrolment to any of the level
of the Intermediate (Integrated Professional Competence)
Course, unless he –
(a) has passed the Common Proficiency Test held under
these regulations and Senior Secondary Examination
(10+2 examination) conducted by an examining body
constituted by law in India or an examination
recognised by the Central Government or the State
Government as equivalent thereto for the purposes of
admission to graduation courses; or
(b) has been exempted from passing Common Proficiency
Test under regulation 25D.”;
(c) after sub-regulation (2), the following sub-regulation shall be inserted,
namely:-
“(2A) Notwithstanding anything contained in sub-regulation (2), a candidate
who is pursuing the final year of graduation course shall be provisionally
registered to the Intermediate (Integrated Professional Competence) Course
which shall be confirmed only on submission of satisfactory proof of having
passed the graduation examination with the minimum marks as provided in
sub-regulation (1A) of regulation 25D within such period not exceeding six
months as may be decided by the Council, from the date of appearance in
the final year graduation examination:
Provided that if such candidate fails to produce the proof within the
aforesaid period, his provisional registration shall be cancelled and the
registration fee or the tuition fee, as the case may be, paid by him shall not
be refunded and for the purpose of these regulations no credit shall be given
for the theoretical education undergone.”.
7. In regulation 28E of the said regulations, –
(a) for the words “Integrated Professional Competence Examination”,
“Integrated Professional Competence Course” and “Professional Competence
Examination” wherever they occur, the words and brackets “Intermediate
(Integrated Professional Competence) Examination”, “Intermediate
(Integrated Professional Competence) Course” and “Intermediate
(Professional Competence) Examination” shall respectively be substituted;
(b) in sub-regulation (1), after clause (b), the following proviso shall be
inserted, namely,-
“Provided that a candidate who has been exempted from passing Common
Proficiency Test under sub-regulation (1A) of regulation 25D and enrolled for
the Intermediate (Integrated Professional Competence) Course shall be
eligible to appear in the examination on completion of nine months of
practical training under regulation 50.”;
8. In regulation 29B of the said regulations, after the words “Professional
Competence Examination” wherever they occur, the words and brackets “or
the Intermediate (Professional Competence) Examination” shall respectively
be inserted.
5
9. In regulation 29C of the said regulations, –
(A) in sub-regulation (1),-
(i) in clause (i),-
(a) for the words “Professional Competence Examination”, the
words and brackets “Intermediate (Professional Competence)
Examination” shall be substituted;
(b) the word “and” occurring at the end, shall be omitted;
(ii) in clause (ii), after the words “examination is held”, the words “or has
been serving the last six months of practical training under regulation
50 on the first day of the month in which the examination is held”
shall be inserted;
(iii) after clause (ii), the following clauses shall be inserted, namely:-
“(iii) he produces a certificate to the effect that he has
undergone a study course for such period, as on the
first day of the month in which examination is held, in
such manner as may be decided by the Council from
time to time; and
(iv) completed the Advanced Course on Information
Technology Training under these regulations for such
period and in such manner as may be decided by the
Council, from time to time.”;
(iv) for the proviso, the following proviso shall be substituted, namely:-
“Provided that a candidate who has passed Professional
Education (Examination-II) under the syllabus as decided by the
Council under sub-regulation (5) of regulation 28B and has completed
the practical training as is required for admission as a member on or
before the last day of the month preceding the month in which the
examination is held or has been serving the last twelve months of
practical training including excess leave, if any, on the first day of the
month in which the examination is held and has completed the said
study course and Advanced Course on Information Technology
Training, shall be admitted to the Final Examination.”;
(B) in sub-regulation (2),-
(a) after the words “Integrated Professional Competence
Examination”, the words and brackets “or Intermediate
(Integrated Professional Competence) Examination” shall be
inserted;
(b) after the words “examination is held” occurring at the end, the
words “and has completed the aforesaid study course and
Advanced Course on Information Technology Training” shall be
inserted.
10. In regulation 31 of the said regulations, –
6
(i) in clause (ii), for the words “Professional Competence Examination”,
the words and brackets “Intermediate (Professional Competence)
Examination” shall be substituted;
(ii) in clause (iii), for the words “Integrated Professional Competence
Course”, the words and brackets “Intermediate (Integrated
Professional Competence) Course” shall be substituted.
11. For regulation 36A of the said regulations, the following regulation shall be
substituted, namely:-
“36A Requirement for passing Common Proficiency Test.– A candidate for
the Common Proficiency Test shall ordinarily be declared to have passed the
test if he obtains at one sitting a minimum of thirty per cent. marks in each
section and a minimum of fifty per cent. marks in the aggregate of all the
sections, subject to the principle of negative marking, in such manner as may
be determined by the Council, from time to time.
Explanation.- For the removal of doubt, it is hereby declared that the
provisions of this regulation shall apply to a Common Proficiency Test held on
or after the commencement of the Chartered Accountants (Amendment)
Regulations, 2012.”.
12. In regulation 37B of the said regulations, for the words “Professional
Competence Examination” wherever they occur, the words and brackets
“Intermediate (Professional Competence) Examination” shall respectively be
substituted.
13. In regulation 37C of the said regulations, –
(i) for the words “Integrated Professional Competence Examination”
wherever they occur, the words and brackets “Intermediate
(Integrated Professional Competence) Examination” shall respectively
be substituted;
(ii) for the words “Professional Competence Examination” wherever they
occur, the words and brackets “Intermediate (Professional
Competence) Examination” shall respectively be substituted;
(iii) in sub-regulation (2), clause (a) shall be omitted.
14. In regulation 40 of the said regulations, –
(i) for the words “Professional Competence Examination”, the words and
brackets “Intermediate (Professional Competence) Examination” shall
be substituted;
(ii) for the words “Integrated Professional Competence Examination”, the
words and brackets “Intermediate (Integrated Professional
Competence) Examination” shall be substituted.
7
15. In regulation 43 of the said regulations, –
(i) after sub-regulation (2), the following sub-regulation shall be
inserted, namely:-
“(2A) A member in full time employment with a firm of chartered
accountants shall be entitled to train one articled assistant provided he has
been in employment with the same firm for a continuous period of three
years.”;
(ii) in sub-regulation (3), clause (i) shall be omitted.
16. In regulation 45 of the said regulations,-
(i) for the words “Integrated Professional Competence Course” wherever
they occur, the words and brackets “Intermediate (Integrated
Professional Competence) Course” shall be substituted;
(ii) in sub-regulation (1), in clause (b), –
(a) for sub-clause (i), the following sub-clause shall be substituted,
namely:-
“(i) has passed the Professional Education (Examination-II) or
has passed Group I level or Accounting Technician level of
Intermediate (Integrated Professional Competence) Examination held
under these regulations or has been exempted from passing Common
Proficiency Test under sub-regulation (1A) of regulation 25D; and”;
(b) in sub-clause (ii), after the words “so specified”, the word
“and” shall be inserted;
(c) after sub-clause (ii), the following sub-clause shall be inserted,
namely:-
“(iii) has completed the Orientation Course for such period and in
such manner and within such time as may be decided by the Council
from time to time.“;
(iii) in sub-regulation (2),
(a) after the words “Central Government”, the words “or the State
Government” shall be inserted;
(b) after the words “as equivalent thereto”, the words “for the
purposes of admission to graduation courses” shall be
inserted.
17. In regulation 50 of the said regulations, —
(i) in the third proviso, for the words “Professional Competence
Examination”, the words and brackets “Intermediate (Professional
Competence) Examination” shall be substituted;
8
(ii) for fourth Proviso, the following provisos shall be substituted,
namely:-
“Provided also that a candidate enrolled for the Intermediate
(Integrated Professional Competence) Course shall be eligible to three
years of articles training on his passing the Group I level or
Accounting Technician level of the Intermediate (Integrated
Professional Competence) Examination:
Provided also that a candidate who is a graduate or post
graduate and has been exempted from passing the Common
Proficiency Test shall be eligible to three years of articles training on
his registration to the Intermediate (Integrated Professional
Competence) Course.”.
18. In regulation 51 of the said regulations, in sub-regulation (1), for the words
“Professional Competence Examination”, the words and brackets
“Intermediate (Professional Competence) Examination” shall be substituted.
19. After regulation 51B of the said regulations, the following regulation shall be
inserted, namely:-
“51C. Advanced Course on Information Technology Training. – A candidate
shall undergo an Advanced Course on Information Technology Training as
may be determined by the Council which shall not be less than one hundred
hours and not more than five hundred hours and in such manner and within
such time as may be determined by the Council from time to time.”.
20. In regulation 69 of the said regulations,-
(a) in sub-regulation (1), in clause (b), for sub-clauses (ii) and (iii), the
following sub-clauses shall respectively be substituted, namely:-
“(ii) has passed the Professional Education (Examination-II) or
Group I level or Accounting Technician level of Intermediate
(Integrated Professional Competence) Examination held under
these regulations or has been exempted from passing the
Common Proficiency Test under sub-regulation (1A) of
regulation 25D; and
(iii) has successfully completed computer training programme or
Information Technology Training, for such period, in such
manner and within such time as may be decided by the
Council from time to time; and”
(b) after sub-clause (iii), the following sub-clause shall be inserted,
namely:-
“(iv) has completed the Orientation Course for such period, in such
manner and within such time as may be decided by the
Council from time to time.“.
21. In regulation 72 of the said regulations, in sub-regulation (1), for the words
“Professional Competence Examination”, the words and brackets
“Intermediate (Professional Competence) Examination” shall be substituted.
9
22. After regulation 72B of the said regulations, the following regulation shall be
inserted, namely:-
“72C. Advanced Course on Information Technology Training. – A candidate
shall undergo the Advanced Course on Information Technology Training as
may be determined by the Council which shall not be less than one hundred
hours and not more than five hundred hours and in such manner and within
such time as may be determined by the Council from time to time.”.
23. In regulation 127 of the said regulations, in sub-regulation (1), for item 4, the
following item shall be substituted, namely:-
“4. The States of Bihar, Chhattisgarh, Jharkhand, Madhya
Pradesh, Rajasthan, Uttarakhand and Uttar Pradesh.”.
24. In regulation 130 of the said regulations, in sub-regulation (2), –
(i) in clause (xvii), the word “and” occurring at the end shall be omitted;
(ii) after clause (xvii), the following clauses shall be inserted, namely:-
“(xvii a) to publish Newsletter for dissemination of useful
information;
(xvii b) to conduct Continuing Professional Education
Programmes on topics of professional relevance; and”.
25. In regulation 134 of the said regulations,-
(i) in sub-regulation (1), –
(a) for the words “April of the year”, the words “April of the
financial year” shall be substituted;
(b) after the proviso, the following provisos shall be inserted,
namely:-
“Provided further that, if the professional address is not borne
on the Register on the relevant date, the residential address borne on
the Register shall determine his regional constituency:
Provided also that, in the case of a member having his
professional address outside India and eligible to vote, his regional
constituency shall be determined according to his professional address
in India registered immediately before he went abroad or the
residential address in India borne on the Register on the relevant
date, whichever is later.”;
(ii) in sub-regulation (2),–
(a) for the words “April of the year”, the words “April of the
financial year” shall be substituted;
(b) for the words “on the date of election”, the words “on the last
date of scrutiny of nominations” shall be substituted;
10
(c) the following provisos shall be inserted, namely:-
“Provided that no person shall be eligible to stand for
election to a Regional Council, if–
(a) he is holding a post under the Central Government or
State Government;
(b) he is or has been elected as a member to Regional
Council for more than three consecutive terms; or
(c ) he is or has been elected as the Chairman under
regulation 137:
Provided further that, no person who has been found
guilty of any professional or other misconduct and whose
name is removed from the Register or has been awarded
penalty of fine, shall be eligible to stand for election to a
Regional Council,–
(i) in case of misconduct falling under the First Schedule
to the Act, for a period of three years;
(ii) in case of misconduct falling under the Second
Schedule to the Act, for a period of six years,
from the completion of the period of removal of name from the
Register or payment of fine, as the case may be:
Provided also that, no person who has been auditor of
the Regional Council shall be eligible to stand for election to a
Regional Council for a period of three years after he ceases to
be the auditor of that Regional Council.”;
(iii) in sub-regulation (3), for the words and figures “under regulation 85”,
the words, figures and brackets “under rule 8 read with Schedule 3 to
the Chartered Accountants (Election to the Council) Rules, 2006” shall
be substituted;
(iv) for sub-regulation (4), the following sub-regulation shall be
substituted, namely:-
“(4) (i) At least three months before the date of election, the
Council shall publish, for each regional constituency, a list of members
eligible to vote showing distinctly and separately –
(a) whether the voter is an associate or a fellow;
(b) the address of each member as determined under subregulation
(1) for deciding the eligibility of the member
to vote;
(c) in the case of a voter residing outside India, in addition
to his address in India under sub-clause (b), his
address outside India if furnished to the Institute by
the voter concerned;
11
(d) details of internet address or e-mail address as
furnished by a voter to the Institute, provided an
express consent is given by the voter for its inclusion in
the list of voters;
(e) the manner in which the voter shall exercise his
franchise; and
(f) in case the voter is to exercise his franchise at a polling
booth, the number and address of the polling booth, at
which the franchise shall be exercised.
(ii) Subject to the provisions of these regulations, the address of a
member published in the list of voters for determining the
manner in which he shall be entitled to cast his vote, the
constituency and the polling booth to which he shall belong for
the purpose of casting his vote, shall be final.
(iii) The inclusion of the name of a member in the list of members
eligible to vote shall not confer an absolute right to vote at the
election which shall be subject to the other provisions of these
regulations, the Act and the rules made thereunder.
(iv) The list of members eligible to vote shall be made available at
the Headquarters of the Regional Council and its branches on
payment of such price as may be fixed by the Council.
(v) An announcement about the availability of the list, shall be put
on the website of the Regional Council, the notice board of the
Regional Council, as well as the notice board of the branches
of the Regional Council, wherever these exist.
(vi) If a clerical mistake or omission is detected in the list of
members eligible to vote, the Secretary may rectify such
mistake at any time by issue of a suitable corrigendum.”;
(v) in sub-regulation (6), –
(i) in clause (i), for the words “appropriate form”, the words
“form approved by the Council” shall be substituted;
(ii) for clause (ii), the following clauses shall be substituted,
namely:-
“(ii) delivered along with requisite fees, security deposit and
other papers required for the purpose in the form
approved by the Council to the Secretary by name not
later than 6 P.M. on the notified date:
Provided that no nomination delivered after the last
date and time notified for the election shall be entertained by
the Panel for scrutiny of nominations.
(iii) An acknowledgement of delivery shall be issued by the
Secretary or by a person authorised by him on receipt
12
of nomination form mentioning the time and date of
receipt of nomination form.”;
(vi) after sub-regulation (6), the following sub-regulation and Explanation
shall be inserted, namely:-
“(6A) The nomination shall be valid only if it is accompanied by a
statement signed and verified by the candidate containing the
information called for.
Explanation.– For the purpose of this sub-regulation, a valid
nomination means a nomination which contains all the
particulars called for through the nomination form and
incomplete nomination without one or more particulars shall
liable to be rejected.”;
(vii) in sub-regulation (7), for the words “one thousand rupees”, the words
“twenty-five thousand rupees” shall be substituted;
(viii) after sub-regulation (7), the following sub-regulation shall be inserted,
namely:-
“(7A) A candidate for election, in addition to fee as provided in this
Chapter shall pay, irrespective of the number of nominations filed, an
amount of ten thousand rupees as security deposit, which shall be
forfeited if he fails to secure not less than one per cent. of the original
votes polled in the concerned regional constituency.”;
(ix) in sub-regulation (8), for the words “in consultation with and
approval”, the words “with the prior approval” shall be substituted;
(x) after sub-regulation (9), the following sub-regulation shall be inserted,
namely:-
”(9A) At the time of giving his decision, the President may –
(a) dismiss the dispute referred to him under subregulation
(9);
(b) declare the election of all or any of the elected
candidates to be void;
(c) declare the election of all or any of the elected
candidates to be void and declare the applicant or any
other candidate to have been duly elected; or
(d) may pass such order as to costs as he may consider
appropriate.”;
(xi) in sub-regulation (10), for the words and figures “prescribed in
Chapter VI of these regulations”, the words, brackets and figures
“specified in the Chartered Accountants (Election to the Council)
Rules, 2006” shall be substituted.
26. In regulation 135 of the said regulations, in sub-regulation (4), the
Explanation shall be omitted.
13
27. In regulation 137 of the said regulations,-
(i) in clause (i) of sub-regulation (1), for the word “September”, the word
“February” shall be substituted;
(ii) in sub-regulation (7), in clause (i), after item (e), the following item
shall be inserted, namely:-
“(f) Continuing Professional Education Committee.”;
(iii) in sub-regulation (11), for the word “September”, the word “February”
shall be substituted.
28. In regulation 141 of the said regulations, in the proviso to sub-regulation (1),
for the word “September”, the word “February” shall be substituted.
29. In regulation 149 of the said regulations, for sub-regulation (1), the following
sub-regulation shall be substituted, namely:-
“(1) The Regional Council shall, on a requisition made in writing by at least
ten per cent. of the total number of members of the region or seven hundred
fifty members in the region, whichever is less, convene an extraordinary
General Meeting.”.
30. In regulation 159 of the said regulations,-
(i) in sub-regulation (1), for the figures and word “100 members”, the
figures and word “150 members” shall be substituted;
(ii) after sub-regulation (1), the following sub-regulation shall be
inserted, namely:-
“(1A) The Council may also, by notification in the Gazette of India,
set up a branch of a Regional Council at such place in a district in which
neither the Headquarters of the Regional Council nor a branch of the
Regional Council is located, provided there are minimum 100 members
having their addresses registered in that district.”.
31. After regulation 161 of the said regulation, the following regulation shall be
inserted, namely:-
“161A. Meetings of Council through teleconferences or video
conferences. – A meeting of the Council, through teleconferencing or video
conferencing may, at any time, be called subject to such conditions as may be
determined by the Council from time to time.”.
32. After regulation 169 of the said regulations, the following regulation shall be
inserted, namely:-
“169A. Meetings of Standing Committee through teleconferences or video
conferences. – A meeting of the Standing Committee, through
teleconferencing or video conferencing may, at any time, be called subject to
such conditions as may be determined by such Committee from time to
time.”.
14
33. In regulation 177 of the said regulations, in sub-regulation (3), after the
words and figures “in regulations 169”, the figures and letter “169A”, shall
be inserted.
34. In regulation 184, for sub-regulation (1), the following sub-regulation shall be
substituted, namely:-
“(1) Where a holder of a certificate granted by the Council has lost it, the
Council may, on an application made in this behalf, duly supported by an
affidavit of the applicant to the effect that he was in possession of such a
certificate and had lost it, issue a duplicate, –
(a) in case of a certificate of membership or a certificate of
practice as an associate or fellow on payment of a fee of five
hundred rupees; and
(b) in case of any other certificate issued under these regulations,
on payment of a fee of two hundred rupees.”.
35. In regulation 192 of the said regulations, in the proviso,-
(i) in clause (b), the word “and” occurring at the end shall be omitted;
(ii) after clause (c), the following clauses shall be inserted, namely:-
“(d) in the case of certain management consultancy services as
may be decided by the resolution of the Council from time to
time, the fees may be based on percentage basis which may
be contingent upon the findings, or results of such work;
(e) in the case of certain fund raising services, the fees may be
based on a percentage of the fund raised;
(f) in the case of debt recovery services, the fees may be based
on a percentage of the debt recovered;
(g) in the case of services related to cost optimisation, the fees
may be based on a percentage of the benefit derived; and
(h) any other service or audit as may be decided by the Council.”.
36. In regulation 203 of the said regulations,-
(i) in item (14),-
(a) for the word “staff”, the words “officers and
employees” shall be substituted;
(b) for the word “President”, the words “Executive
Committee shall” shall be substituted;
(ii) after item (20), the following item shall be inserted, namely:-
“(20A) signing all agreements, contracts, deeds, documents
and undertaking, etc., on behalf of the Institute subject to the
approval of the President;”;
15
(iii) in item (21), for the words “signing vakalatnamas”, the words
“taking necessary steps in matters of any civil or criminal or
other proceeding on behalf of the Institute in courts or forums
or judicial or quasi-judicial authorities and signing
vakalatnamas” shall be substituted;
(iv) after item (23), the following item shall be inserted, namely:-
“(23A) authorising any officer of the Institute to exercise or
discharge any powers or duties under items (7), (9), (10),
(11), (12), (16), (17), (18) and (19), as may be considered
necessary from time to time.”.
37. In regulation 204 of the said regulations, for the words and letters “in
connection therewith in accordance with the rules contained in Schedules `C’,
`D’, `E’, `F’, `G’ and `H’ ”, the words “in connection with the post
qualification courses in Management Accountancy, Corporate Management,
Tax Management, Information Systems Audit, Insurance and Risk
Management, and International Trade Laws and World Trade Organisation”
shall be substituted.
38 In Schedule A to the said regulations, –
(i) in Form “4” relating to Certificate of Membership in the opening
paragraph, for the words and figures “This is to certify that ……. of
…….. was admitted as an Associate of the Institute on the ….. day
of….. 20……”, the following shall be substituted, namely:-
“This is to certify that ……. of …….. was admitted as an Associate of
the Institute on the ….. day of….. 20… and he/she is entitled to use
the letters A.C.A. after his/her name.”;
(ii) in Form “5” relating to Certificate of Membership in the opening
paragraph, for the words and figures “This is to certify that ……. of
…….. was admitted as a Fellow of the Institute on the ….. day of…..
20……”, the following shall be substituted, namely:-
“This is to certify that ……. of …….. was admitted as a Fellow of the
Institute on the ….. day of….. 20… and he/she is entitled to use the
letters F.C.A. after his/her name.”.
[File No.1-CA(7)/145/2012]
Sd/-
T. Karthikeyan
Secretary
Note: The principal regulations were published in the Gazette of India, Extraordinary, vide
notification number 1-CA(7)/134/88, dated the 1st June, 1988 and subsequently
amended by the following notification numbers:-
(i) Notification No.1-CA(7)/1/89 published in the Gazette of India, dated the 7th October, 1989;
(ii) Notification No.1-CA(7)/10/90 published in the Gazette of India, dated the 19th January, 1991;
16
(iii) Notification No.1-CA(7)/11/90 published in the Gazette of India, dated the 19th January, 1991;
(iv) Notification No.1-CA(7)/12/91 published in the Gazette of India, dated the 23rd February, 1991;
(v) Notification No.1-CA(7)/13/90 published in the Gazette of India, dated the 2nd February, 1991;
(vi) Notification No.1-CA(7)/19/92 published in the Gazette of India, dated the 7th March, 1992;
(vii) Notification No.1-CA(7)/28/95 published in the Gazette of India, dated the 1st September, 1995;
(viii) Notification No.1-CA(7)/30/95 published in the Gazette of India, Extraordinary, dated the 13th March,
1996;
(ix) Notification No. 1-CA(7)/31/97 published in the Gazette of India, dated the 16th August, 1997;
(x) Notification No. 1-CA(7)/44/99 published in the Gazette of India, dated the 26th February, 2000;
(xi) Notification No.1-CA(7)/45/99 published in the Gazette of India, dated the 26th February, 2000;
(xii) Notification No.1-CA(7)/51/2000 published in the Gazette of India, Extraordinary, dated the 17th
August, 2001;
(xiii) Notification No.1-CA(7)/59/2001 published in the Gazette of India, Extraordinary, dated the 28th
September, 2001;
(xiv) Notification No.1-CA(7)/64/2002 published in the Gazette of India, Extraordinary, dated the 31st
March, 2003;
(xv) Notification No.1-CA(7)/64A/2003 published in the Gazette of India, Extraordinary, dated the 4th
December, 2003;
(xvi) Notification No.1-CA(7)/83/2005 published in the Gazette of India, Extraordinary, dated the 28th
July, 2005;
(xvii) Notification No.1-CA(7)/84/2005 published in the Gazette of India, dated the 17th June, 2006;
(xviii) Notification No. 1-CA(7)/92/2006 published in the Gazette of India, dated the 13th September,
2006;
(xix) Notification No. 1-CA(7)/102/2007(E) published in the Gazette of India, dated the 17th August,
2007;
(xx) Notification No.1-CA(7)/116/2008 published in the Gazette of India, dated the 25th September,
2008;
(xxi) Notification No.1-CA(7)/123/2008 published in the Gazette of India, dated the 3rd December,
2008.
……………………….

CA Exams:-PCC & IPCC Result date is declared


IMPORTANT ANNOUNCEMENT

The results of the Chartered Accountants Professional Competence and Integrated Professional Competence Examinations held in May, 2012 are likely to be declared tentatively on Tuesday, the 7th August, 2012 around 5.00 P.M. and the same as well as the merit list (candidates securing a minimum of 55% and above marks and upto the maximum of 50th Rank and in accordance with the decision of the Examination Committee) on all India basis will be available on the following website:

http://www.caresults.nic.in

Arrangements have also been made for the students desirous of having results on their email addresses to pre-register their requests at the above website, i.e.,
http://www.caresults.nic.in from 3 rd August, 2012. All those registering their requests will be provided their results through e-mail on the e-mail addresses registered as above immediately after the declaration of the result.

Further facilities have been made for students of Professional Competence and Integrated
Professional Competence Examinations held in May, 2012 desirous of knowing their results with marks on SMS. The service will be available through India Times.

For getting results through message students should type:
(i) for Professional Competence Examination result the following
CAPCE(Space)XXXXXX (where XXXXXX is the six digit PCE examination roll number of the
candidate)
e.g. CAPCE 000197
(ii) for Integrated Professional Competence Examination result the following
CAIPCE(Space)XXXXXX (where XXXXXX is the six digit IPCE examination roll number of the
candidate)
e.g. CAIPCE 002971
and send the message to
58888 – for all mobile services – India Times

Extension of Due Date For Filling of Income Return for Individuals & HUF Assessees


F.No.225/163/2012/ITA.I1
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes

 

New Delhi, the 31st July 2012.

 

Order under Section 119 of the Income Tax Act. 1961

 

On consideration of the reports of disturbance of general life caused due to failure of power and further in consideration of the fact that the e-filing of returns for a specified category of individuals and HUF has been made mandatory, the Central Board of Direct Taxes, in exercise of powers conferred under section 119 of the Income Tax Act, 1961, hereby extends the ‘due date’ of filing of returns of income for the Assessment Year 2012-13 to 31st August 2012 in respect of assessees who are liable to file such returns by 31st July 2012 as per provisions of section 139 of Income Tax Act, 1961.

 

(Ajay Goyal)
Director (ITA.II)

 

 

Shradhaanjali


Jay Shree Krishna friends,

It is sad to inform that, today Super Star Rajesh Khanna pass away the glamour world.

Rajesh Khanna, the original superstar of the Hindi film industry, died at his home, Aashirvad, in Mumbai on Wednesday at the age of 69.

The yesteryear actor was ailing since quite a while and had just been discharged from Mumbai’s Lilavati Hospital on Tuesday. He had been diagnosed with a kidney problem.

Reports said that Rajesh Khanna was not responding to medicines and had been put on IV and had been grasping for breath since morning.  He had been put on life support.

His family was present with him and his doctor and physician were also next to him.

 Television reports said that his son-in-law Akshay Kumar had returned from his shoots abroad to be by his side. All his family members had already gathered at his Bandra house which has been cordoned off by police officials.

Born Jatin Khanna on December 29, 1942, he took up the screen name of Rajesh Khanna when he entered filmdom. He acted in 163 films, including 106 as the hero.

Khanna won 3 Filmfare Best Actor Awards, four BFJA Awards for Best Actor (Hindi), and also the Filmfare Lifetime Achievement Award.

He debuted in films in 1966 with the film Aakhri Khat. He attained unprecedented heights of stardom with films like Aradhana, Amar Prem, Kati Patang, Khamioshi, Raaz, Baharon Ke Sapne, Ittefaq, etc.

He married Dimple Kapadia in March 1973, but the couple separated in 1984. He has two daughters – Twinkle (Akshay Kumar’s wife) and Rinkie – from that marriage.