The refund was held back by I-T department citing possible future demands, Bomaby HC had ruled the power to do so did not exist in AY 2014-15, to which the case pertains
5 Steps to Convert Website Visitors to Salesbrandon_lake
Marketing expert, Joel Book and Brandon Lake discuss 5 critical steps that will dramatically increase conversions and keep customers engaged before and after the sale.
Effective Reporting - Getting the Most Out of Your Reportsbrandon_lake
See specific examples showing how tour operator software such as Resmark Systems can save time in accounting, elevate customer service and improve marketing.
The refund was held back by I-T department citing possible future demands, Bomaby HC had ruled the power to do so did not exist in AY 2014-15, to which the case pertains
5 Steps to Convert Website Visitors to Salesbrandon_lake
Marketing expert, Joel Book and Brandon Lake discuss 5 critical steps that will dramatically increase conversions and keep customers engaged before and after the sale.
Effective Reporting - Getting the Most Out of Your Reportsbrandon_lake
See specific examples showing how tour operator software such as Resmark Systems can save time in accounting, elevate customer service and improve marketing.
The Indian profession of Chartered Accountants has in recent past faced a large number of challenges including aspersions on their integrity and independence arising out of certain large scale financial frauds and manipulation of financial statements by banks, investment banks and large companies outside India including companies like Satyam in India. The Institute of Chartered Accountants of India have severely punished those who were found guilty in various financial frauds and even removed certain chartered accountants found guilty for Satyam scam for their life from the membership of the Institute. Most of these corporate failures did not had any Indian origin CA firm as their Auditors.
The general public and the society including top bureaucrats, politicians, media personnel, social activists, thinkers, intellectuals and policy makers and those who determine the future directions of the society and the economy expect the auditing profession to perform the roles of a watchdog who can monitor the auditee entity comprehensively to ensure that interest of owners, minority shareholders, investors, bankers, government, regulators, suppliers, customers and other stake holders are fully protected. Most importantly interest of the auditee entity are preserved and various financial and operational decisions taken by the management at various levels were in the interest of the company and were within the policy framework laid down by the Board.
2. PepsiCo to set up low-cost foods unit PepsiCo India is in the process of creating its own low-cost foods business. To be called “foods value” business. This project is focusing on low-cost fortified snacks like biscuits priced at Rs 2-3 a pack, which PepsiCo will target at rural consumers. The new entity will be addition to the company’s existing divisions for beverages and foods, which operates under focusing Frito-Lay India.
3. Vodafone must pay tax on Hutch buy- HC HC ruled that Vodafone must pay a capital gains tax on its $11-billion acquisition of a controlling stake in mobile phone operator Hutchison Essar, completed in 2007. Estimated tax liability on Vodafone is of $2-billion. In its transaction,Vodafone acquired 52% from Hutchison Essar in an overseas transaction while 15% was held by Analjit Singh Asim Ghosh.
4. Continued…….. The court was of the view that the transaction was a composite one and is taxable. The company says only 15% of the stake acquired has links with India.
5. Reckitt-Bharti Walmart brand battle on Reckitt Benckiser has served a legal notice on Bharti Walmart demanding to withdraw its Great Value toilet cleaner. As it infringes upon the ‘bottle design and cap’ of Reckitt’s Harpic brand. Great Value is Wal-Mart’s top-selling umbrella brand with global annual sales of close to $11 billion.
6. Akai India all set to enter in mobile handset market Akai India will be shortly launching its mobiles ranging from Rs 1,800 to 8,000. Separate 234 service centers will be allotted for mobiles out of its total 663 service centers. It is aiming at 3% market share in a $550 billion handset market.
7. Miscellaneous MTS (Mobile Telephony Services) brand of Sistema Shyam Teleservices Ltd. would be launching 20 new models within 6 months. Britannia Industries Ltd. will invest around Rs 100 crore to set up one plant each at Bihar and Orissa to cater to the growing market.
![Economic Times[6 Sept- 11 Sept] Sukhwinder Singh MBA-2C](https://image.slidesharecdn.com/economictimes-100912102607-phpapp01/85/Economic-times-1-320.jpg)
