WELCOME TO THE 30th ANNUAL CONFERENCE ON 26TH AND 27TH APRIL 2012 IN DUBAI

Greetings from Dubai Chapter of ICAI.

We are happy  to invite you for our 30th Annual Conference to be held on 26th and 27th April 2012 in Dubai. The Conference  is  a great opportunity for learning from eminent experts, exchanging views and networking with senior finance  professionals across the globe. 

This year, the theme of the Conference is " The Global Economy .... Poised for a Paradigm Shift ? " The following speakers have already confirmed their participation:

1. Mr. Harish Salve - Supreme Court Advocate

2. Mr. Piyush Goyal - Member of Parliament, Rajya Sabha

3. Prof .Sanjiv R Das - Prof. of Finance, Santa Clara University, USA

4. Prof. Faisal Devji -  St.Anthony College, Oxford,

5. CA. Ashok Wadhwa - Group CEO Ambit Group

Please write to us  at iac@icaidubai.org for Registration and in case you need any assistance  regarding  Special Travel and Hotel Packages.

 You can also contact the following coordinators.

1.  CA.KARUNA LUTHAR   -   Mobile + 971 50 6567414 / + 971 55 9276956

2. CA K.VENKATRAMAN     -    Mobile + 971 50 6568549  / +971 55 9487639

3. CA. SUMANTA BANERJEE  - Mobile + 971 50 8065546

We request you to circulate to all your Members about this great opportunity to attend the International Annual Conference and  to visit Dubai.

Best regards,

CA S. VENKATESH

Chairman 

Dubai Chapter of ICAI

Empanelment of CA Firms for Concurrent Audit in Dena Bank

Empanelment of CA Firms for Concurrent Audit in Dena Bank

Visit the following link : 

http://www.denabank.com/viewdetail.jsp?lang=0&did=133300557453403D91D470BC2F6FFFDA98F8E7AFBA535&id=0,47

Applications are invited by Competition Commision of India for engagment of experts (Economic/ Law/ Financial Analysis)

Applications are invited by Competetion of India for engagment of experts (Economic/ Law/ Financial Analysis)

Elegibility for Financial Analysis are Chartered Accountant

Visit the following link:

http://cci.gov.in/May2011/Employment/EXPERT-NOTICE.pdf

CA / Semi-Qualified required

Dear All,

We are looking for CA or semi-qualified person for a 4 months assignment in Mumbai. 

Accommodation and other cost shall be reimbursed.

He should have adequate experience in Accounts finalization of Mid Size Companies and Income Tax matters such TDS, Returns etc..

Interested candidates, please send your CVs to angawade@gmail.com.

CA Anand Gawade
Managing Partner

A N GAWADE & CO. Chartered Accountants,Office Add: Office No 1, Shree Shailya Apartment,
Lane No 14, Prabhat Road, Pune-411004.
Tel Fax 020+25459205
Email: ang@angca.com, angawade@gmail.com
Web:    www.angca.com

S. 32(1)(ii) Depreciation On "Intangible Assets": High Court Explains Law

S. 32(1)(ii): Business information, contracts, records etc are “intangible assets” & eligible for depreciation


The assessee, vide slump sale agreement, acquired a transmission and distribution business as a going concern for a lump sum consideration of Rs.44.7 crores. The net tangible assets were valued at Rs.28.11 crores and the balance Rs. 16.58 crores was allocated by the transferee towards acquisition of bundle of “business and commercial rights” being business information; business records; contracts; employees etc, compendiously termed as “goodwill”. The assessee claimed that the said “business and commercial rights” were an “intangible asset” and eligible for depreciation u/s 32(1)(ii). The assessee’s claim was rejected by the AO, CIT(A) & Tribunal on the ground that depreciation was not allowable on “goodwill”. On appeal by the assessee, HELD reversing the lower authorities:

(Click Here To Read More)

Bill which states that all Privately Held Companies need to give a minimum salary increment of 25% to all employees every year.

Dear All,



There is a good news for your friends/relatives working in private
companies in India.

It is understood that Union Finance Minister Pranab Mukherjee has
approved a Bill which comes into effect on 01.04.2012 and it states
that all Privately Held Companies need to give a minimum salary
increment of 25% to all employees every year.

This comes as a relief to petitioners appealing against the growing
work hours in the Privately Held Organizations and which do not have a
proper system to check overtime.

The bill also mentions that all employees be provided 20 days of
casual leave every year.

Please see the attached document for the list of companies which will
be brought under the umbrella of the Bill in the first round of
implementation.

And if the name of their company features in the list, kindly
congratulate them & circulate this mail amongst your colleagues.

Warm Regards,

Rajesh Agarwal

RBI CAN NOT DISCONTINUE SERVICE OF AUDITOR ON THE COMPLAINT OF BANK

 High court Land mark decision which protect independence of Bank Auditors, so Bank  Audit without fear .

RBI CAN NOT DISCONTINUE SERVICE OF AUDITOR ON THE COMPLAINT OF BANK

Gupta & Gupta Chartered Accountants & Anr.  Versus Reserve Bank Of India & Ors. (Delhi HC) -  The Delhi High Court has held as illegal the decision of RBI to discontinue the services of a Statutory Central Auditor (SCA) of Punjab National Bank (PNB) without fair and proper enquiry into the allegations against the firm. The observations came on the plea of accounting firm, Gupta and Gupta Chartered Accountants, alleging arbitrariness on the part of RBI in asking PNB to discontinue it (firm) as an SCA without fair and proper inquiry. RBI, in a letter written on June 24, 2009, permitted PNB to discontinue the firm as an SCA on the allegations of the bankthat it was delaying the audit of accounts. SCAs are appointed by RBI on the recommendations of statutory auditor CAG for a period of four years to audit the accounts of public sector banks.In 2005, five SCAs had been appointed to audit the accounts of PNB. The firm had alleged that it was discontinued as an SCA by PNB apprehending that it can detect some irregularities by the bank in granting loan to somereal estate companies. The firm also contended that it was singled out for being discontinued as SCA and that this amounted to blacklisting of the petitioner firm apart from being mala fide. It also submitted that it was even not served any show cause notice.

Related Paras from the Judgement

23. Where a complaint is made against an SCA by a public sector bank, it would be the duty of the RBI to examine such complaint carefully. In the audit of large public sector banks, there are bound to be queries raised by the SCAs about the accounts of the large account holders of the bank. If there are complaints by the bank, like in the present case, that the audit is getting delayed on account of the bankhaving to answer such queries, the RBI will have to examine the tenability of such claim after seeking an explanation from the SCA. In the present case, the PNB first wrote to the RBI on 24^th April 2009 blaming the Petitioner for the delay in the finalization of the accounts. The Petitioner^’s comments on the said letter were sought by the RBI. The Petitioner then submitted a reply dated 7^th May 2009 explaining that there was no delay on its part. This reply was furnished to the PNB by the RBI for its response. In response thereto, on 27^th May 2009 the PNB made several allegations questioning the Petitioner^’s professional competence and integrity. In other words, the tenor of the allegations by PNB against the Petitioner in the letter dated 27^th May 2009 was not confined to the issue of delay. Specifically, PNB alleged that the intention of the Petitioner was “to malign the reputation and image of the bankâ€�; that the Petitioner was “abrasive ab initio and uncooperative in their approach right from the first audit and are lacking in professionalism.â€�; that they have been “putting the entire system to undue stress and holding the bank to ransomâ€�; “their objective has been to embarrass the bank and harass its officers. The behaviour and attitude is indicative of cynicism and sadism.â€� Then came the impugned decision of the  RBI communicated in its letter dated 24^th June 2009 permitting PNB to discontinue the Petitioner as SCA for the limited extended review for the quarter ending 30^th June 2009.

24. It is not as if the letter dated 24^th June 2009 simply states that the Petitioner will be discontinued. It refers to the PNB^’s letter dated 27^th May 2009 and states that the Petitioner could be discontinued as SCA “in view of the circumstances cited in the above letter.â€� It is therefore not possible to view the said discontinuance as being innocuous and routine and not casting a stigma on the Petitioner. The RBI could not have arrived at the decision without some kind of an inquiry. The RBI was performing an important and sensitive task. Allegations concerning the competence and integrity of an SCA, selected by the RBI through a fairly rigorous process, cannot be permitted to be made lightly and equally accepted on face value without some probe by the RBI. Otherwise it might be easy for a bank to have an inconvenient SCA discontinued. Considering that the accounts of public sector banks are to be audited by employing the best possible standards, the RBI was under a statutory obligation to ensure that the discontinuance of the Petitioner, on a complaint about its professional competence, was preceded by a proper procedure comporting with the principles of natural justice. Admittedly, even a copy of PNB^’s letter dated 27^th May 2009 was not sent to the Petitioner for its comments although it contained serious allegations about the Petitioner^’s conduct and professional competence. Thereby RBI failed to afford the Petitioner an opportunity of defending itself against PNB^’s allegations. Also, neither the RBI nor PNB communicated to the Petitioner the decision to discontinue it as an SCA for the extended review period.

25. The Court holds that the impugned decision of the RBI, as communicated in its letter dated 24^th June 2009 to the PNB, to discontinue the Petitioner as an SCA, even for the limited extended period ending 30^th June 2009, was violative of the principles of natural justice and was, therefore, illegal. However, since the period in question is over no consequential relief can be granted except to clarify that the said decision of the RBI, will not come in the way of the Petitioner being hereafter appointed as an SCA in accordance with the norms devised by the RBI.

Video on Illicit wealth abroad by CA. M. R. Venkatesh, Chennai

Bangalore Branch of SIRC of ICAI

VAT Notification for Amendment to Schedules A, C, and D as per Budget Speech 2012-13

FINANCE DEPARTMENT

Madam Cama Road, Hutatma Rajguru Chowk, Mantralaya, Mumbai 400 032, dated the 31st March 2012.

 

NOTIFICATION

 

MAHARASHTRA VALUE ADDED TAX ACT, 2002.

 

No. VAT.1512/C.R.40/Taxation-1. — In exercise of the powers conferred by sub-section (1) of section 9 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Government of Maharashtra hereby with effect from the 1st April 2012 amends SCHEDULES A, C and D appended to the said Act, as follows, namely : —

 

In the Maharashtra Value Added Tax Act, 2002,—

1.   In SCHEDULE A —

(1)   in entry 9A, in column (2), for the figures, letters and word " 31st March 2012 " the figures, letters and word " 31st March 2013 " shall be substituted;

 

(2)   entry 21A shall be deleted;

 

(3)   in entry 45A, —

(a)    sub-entry (b) shall be deleted;

(b)   the following Explanation shall be added, namely : —

"Explanation. — For the removal of the doubts, it is hereby declared that the unmanufactured tobacco shall not include unmanufactured tobacco when sold in packets under the Brand name.";

 

(4)   in entry 51, in column (2), the figures, letters and word "31st March 2012 " the figures, letters and word " 31st March 2013 " shall be substituted;

 

(5)   after entry 59, the following entries shall be added, namely : —

 

"60. Sale of edible oil and oil cake manufactured and sold by the Tel Ghani Units registered under the Khadi and Village Industries Commission Act, 1956 or as the case may be with the Khadi and Village Industries Board constituted under the Bombay Khadi and Village Industries Act, 1960 for a turnover not exceeding rupees twenty lakh in a financial year.	The unit shall be certified by the Joint Commissioner of Sales Tax (Registration), in Mumbai and the concerned Joint Commissioner of Sales Tax (VAT Administration) in the rest of the state.	NIL %
61.    Sales    of   "Purak Poshan Aahar" by way of supplies made to the Aanganwadi Centres under the Integrated Child Development Scheme as specified in the Government Resolution, Women and Child Development Department, No.ABV-2005/CR-233/KA-5, dated the 28th October 2005.	......	Nil %" ;

 

       

2.   In SCHEDULE C,—

(1)   in the heading, for the figures, signs and word " 4% or 5% " the figures, signs and words " 2% or 3% or 4% or 5%" shall be substituted;
(2)   in entry 4, in sub-entry (a), in column (3), for the figure and sign " 5% " the figure and sign " 2% " shall be substituted;
(3)   for entry 10, the following entry shall be substituted, namely : -             "10.    Bamboo and bamboo products.	5%”;
(4)   in entry 41, after the words " gypsum board ", the words " and plaster of paris. " shall be added;
(5)   in entry 58, after sub-entry (a), the following sub-entry shall be added; namely : —             "(b) Liquefied Petroleum Gas for domestic use.	3%”;
(6)   after entry 75, the following entry shall be inserted, namely : —             " 75A. Poultry machinery and equipments as may be notified, from time to time,             by the State Government in the Official Gazette.	5%”;
(7)   after entry 82, the following entry shall be inserted, namely : —             "82A. Ribbon, Bow and Kajal.	5%”;
(8)   after entry 83, the following entry shall be inserted, namely :—             "83A. Rock Salt.	5%”;
(9)   after entry 85, the following entry shall be inserted, namely :— "85A. Safety Helmets.	5%”;
(10)           in entry 99, in column (2), for sub-entry (a), the following sub-entry shall be       substituted, namely :-             (a) Umbrella and Raincoat excluding garden umbrella.";	5%”;
(11)           in entry 104, after sub-entry (b) the following sub-entry shall be added, namely:—             "( c) Writing boards or writing pads, drawing boards, black boards, green boards,             white boards, examination pads, foot rulers, erasers, glitter pens, sketch pens,             staplers, pencil leads, oil pastels, drawing charcoals and envelopes.	5%”;
(12)           in entry 107, in sub-entry (11),— (a) after clause (e), the following clause shall be inserted, namely :— "(f) Raw, semi cooked, semi processed, readymix and ready to cook    preparations, sold in sealed containers excluding ready to eat food and those covered by clause (a) to clause (e) above.             (b) in the Explanation, for the brackets, letters and word "(a) to (e)" the brackets,             letters and word "(a) to (f) " shall be substituted;	5%”;
(13)           in entry 108, in column (2), in sub-entry (1), in clause (b), for the figures, letters       and word "31st March 2012" the figures, letters and word " 31st March 2013 "       shall be substituted;
(14)           for entry 108A, the following entry shall be substituted, namely :—             "108A. Dry fruits excluding raisins and currants.	5%”;
(15)           after entry 115, the following entry shall be added, namely :—             "116. Adult diapers and Sanitary napkins.	5%”;

 

3.    In  SCHEDULE D,—

(1)   in entry 11,—

(a)    in column (2), the figures, letters and word "31st March 2012" shall be deleted;

(b)   in column (3), for the figure and sign "4%", the figure and sign "5%" shall be substituted;

 

(2)   In entry 12, for the words, figures and letters " but excluding those to which entry 45A of SCHEDULE A and entry 101 of SCHEDULE C applies" the words, figure and letters "but excluding Beedi and those to which entry 45A of SCHEDULE A applies" shall be substituted.

 

 

By order and in the name of the Governor of Maharashtra,

 

 

 

O. C. BHANGDIYA,

Deputy Secretary to Government.

Amendments in Uploading the MVAT and CST Returns for period ending on 31st March 2012

(Please refer amendments in the Rule-17 and 18 vide Notification dated  5/12/2011 and Trade Circular no. 3- T of 2012, dated-27/02/2012)

 

Ø     All the dealers are requested to use latest templates for uploading their Returns. (Version1.2.5  for MVAT Returns and Version 1.2.6  for CST Returns.)

 

Ø     There is no change in the due dates, for filing the Returns for the period ending on 31.3.2012, in case of dealers liable to file e-704. The dealers liable to file e-704 are requested to upload the Returns as per the due date.

 

Ø     As per the Trade Circular no. 3T of 2012, in case of  the dealers who are not liable to file the audit report in form e-704, the uploading of  template containing annexures shall be prerequisite for uploading of last return for the period ending on 31/03/2012 and in case of RC cancelled dealers, for the last return in the said financial year.

 

Ø     The last date for filing the returns for the period ending on 31/03/2012, in case of the dealers who are not liable to file the audit report in form e-704, has been extended up to 30^th June 2012.

 

Ø     Please note that the template containing annexures as mentioned in the Trade Circular no. 3T of 2012 will be made available on the web site by 10/04/2012.

Notification for Amendment to Rule 53(3) under MVAT -Increase in rate of reduction on Branch Transfer by 2 per cent

FINANCE DEPARTMENT

Madam Cama Road, Hutatma Rajguru Chowk, Mantralaya, Mumbai 400 032, dated 31st March 2012

 

NOTIFICATION

 

MAHARASHTRA VALUE ADDED TAX ACT, 2002.

 

No.VAT-1512/CR-43/Taxation-1.—Whereas the Government of Maharashtra is satisfied that circumstances exist which render it necessary to take immediate action further to amend the Maharashtra Value Added Tax Rules, 2005, and to dispense with the condition of previous publication thereof under the proviso to sub-section (4) of section 83 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005) (hereinafter referred to as 'the said Act').

 

Now, therefore, in exercise of the powers conferred by sub-sections (1) and (2) read with the proviso to sub-section (4) of section 83 of the said Act, and of all other powers enabling it in this behalf, the Government of Maharashtra, hereby, makes the following rules further to amend the Maharashtra Value Added Tax Rules, 2005, namely :—

 

1. These rules may be called the Maharashtra Value Added Tax (Second Amendment) Rules, 2012.

 

2. In rule 53 of the Maharashtra Value Added Tax Rules,2005, in sub-rule (3),—

(1)   in clause (a), for the words, brackets and figures "the amount calculated at the rate notified from time to time, by the Central Government for the purposes of sub-section (1) of section 8 of the Central Sales Tax Act, 1956" the words "four per cent." shall be substituted with effect from the 1st April 2012;

 

(2)   in clause (b), for the words "two per cent." the words "four per cent." shall be substituted with effect from the 1st April 2012.

 

By order and in the name of the Governor of Maharashtra,

 

 

 

O. C. BHANGDIYA,

Deputy Secretary to Government.

Overseas Direct Investments – Liberalisation / Rationalisation

RBI/2011-12/481
A. P. (DIR Series) Circular No.101

April 02, 2012

To

All Category-I Authorised Dealer Banks

Madam / Sir,

Overseas Direct Investments – Liberalisation / Rationalisation

Attention of the Authorised Dealer (AD - Category I) banks are invited to the Notification No. FEMA 10/2000-RB dated May 3, 2000 [Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2000] (the Notification), as amended from time to time.

2. As per the extant provisions of FEMA, an Indian party (as defined under Notification No. FEMA 120/RB-2004 dated July 07, 2004, as amended from time to time) is required to obtain prior permission of the Reserve Bank to open, hold and maintain Foreign Currency Account in a foreign country for the purpose of overseas direct investments in that country, in case the regulation of the host country requires that the investment in the country is to be made through a particular account to be opened with the commercial bank of the country.

3. To provide operational flexibility to the Indian party, it has been decided to liberalise the regulations pertaining to opening / holding / maintaining the Foreign Currency Account by Indian party outside India as under:

An Indian party will now be allowed to open, hold and maintain Foreign Currency Account (FCA) abroad for the purpose of overseas direct investments subject to the following terms and conditions:

1. The Indian party is eligible for overseas direct investments in terms of Regulation 6 (Regulation 7, if applicable) of Notification No. FEMA 120/RB-2004 dated July 7, 2004, as amended from time to time.
2. The host country Regulations stipulate that the investments into the country is required to be routed through a designated account.
3. FCA shall be opened, held and maintained as per the regulation of the host country.
4. The remittances sent to the FCA by the Indian party should be utilized only for making overseas direct investment into the JV / WOS abroad.
5. Any amount received in the account by way of dividend and / or other entitlements from the subsidiary shall be repatriated to India within 30 days from the date of credit.
6. The Indian party should submit the details of debits and credits in the FCA on yearly basis to the designated AD bank with a certificate from the Statutory Auditors of the Indian party certifying that the FCA was maintained as per the host country laws and the extant FEMA regulations / provisions as applicable.
7. The FCA so opened shall be closed immediately or within 30 days from the date of disinvestment from JV / WOS or cessation thereof.

4. Necessary amendments to the Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2000 are being issued separately.

5. AD - Category I banks may bring the contents of this circular to the notice of their constituents and customers concerned.

6. The directions contained in this circular have been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and are without prejudice to permissions/approvals, if any, required under any other law.

Yours faithfully,

(Dr. Sujatha Elizabeth Prasad)
Chief General Manager

Bank Audit 2012-READY RECKONER -POINTS TO KEEP IN MIND

Bank Audit 2012-READY RECKONER -POINTS TO KEEP IN MIND

Categorization of a Loan Accounts as NPA

Term Loan

Term loan account will be treated as NPA if interest and/or installment of principal remain overdue for a period of more than 90 days.

Cash Credits and Overdrafts

A cash credit or overdraft account will be treated as NPA if the account remains out of order for a period of more than 90 days.  An account is treated as “out of order” if any of the following conditions is satisfied:

a. The outstanding balance remains continuously in excess of the sanctioned limit/drawing power.

b. Though the outstanding balance is less than the sanctioned limit/drawing power but there are no credits continuously for 90days as on the date of balance sheet or credits are not enough to cover the interest debited during the period.

It should ensure that drawings in the working capital accounts are covered by the adequacy of current assets, since current assets are first appropriated in times of distress.

Vacancy for CA in State Bank of Hyderabad

State Bank of Hyderabad wishes to recruit bright, young and energetic Chartered Accountant ( CA ) on contract basis for a period of two years at annual CTC of  6.00 lac for its Head Office at Gunfoundry, Hyderabad. Although the vacancy is at Hyderabad, Bank reserves the right to deploy the Chartered Accountant at any other Office / Zone across India.

The SBI Bank eligibility criteria ( as on 01.03.2012 ) and other details are as under :

a. Age Limit for Chartered Accountant Recruitment in SBI Bank 2012 :

The minimum age for the post is 21 years and maximum 30 years.

b. Educational Qualification for Chartered Accountant Jobs in State Bank of India 2012 : Chartered Accountant.

NEW ITR FORMS ASKS DETAILS OF FOREIGN ASSETS & ACCOUNTS

In its efforts to check black money stashed in foreign banks, government has introduced a new column seeking details of foreign assets in the Income Tax Return (ITR) forms for the assessment year 2012-13. Taxpayers, who hold foreign bank accounts or properties, will now have to furnish details of their foreign assets which include information like country name, address of the bank, name mentioned in the account and peak balance during the year, after converting the value of the foreign currency in INR. Similar information will also have to be provided by the taxpayer to I-T authorities if he holds financial interest in any entity abroad, details of overseas immovable property and any other other asset outside India. The I-T department, in the new ITR, has also asked the taxpayer to furnish to it details of account/accounts abroad in which the taxpayer has “signing authority”. Finance Minister Pranab Mukherjee had announced in his Budget speech earlier this month that new steps will be taken to make compulsory the reporting of assets held abroad by Indians. “Furnishing of return by such a resident (with assets abroad) would be mandatory irrespective of the fact whether the resident taxpayer has taxable income or not,” the Budget statement had said. The proposal would be effective from April 1, 2012 with retrospective effect. No other changes have been made in the six other ITR forms.

VIDEO-REVISED SCHEDULEVI-LINK

Bangalore Branch of SIRC of ICAI

Former Union Minister and BCCI chief N K P Salve-------- a Chartered Accountant.

Former Union Minister and BCCI chief N K P Salve passes away

NetIndian News Network

New Delhi, April 1, 2012

N K P Salve

Former Union Minister N K P Salve, who also served as President of the Board of Control for Cricket in India (BCCI) from 1982-85, passed away at a private hospital here this morning due to problems related to old age, sources close to the family said.

He was 91. He is survived by his son Harish Salve, an eminent advocate, and a daughter, Arundhati. His wife Ambriti had predeceased him some time ago.

 

The sources said Salve had been admitted to the hospital some daysago and breathed his last there this morning. His body will be taken this evening to Nagpur, where the funeral will be held tomorrow, they said.

 

Salve was born on March 18, 1921 to P K Salve and Cornelia Salve at Chhindwara in Madhya Pradesh. He took a degree in Commerce and then qualified as a Chartered Accountant.

 

He was elected to the fourth and fifth Lok Sabha from Betul in Madhya Pradesh. He was also elected to the Rajya Sabha. As a Minister at the Centre, he handled such portfolios as Power and Steel.

 

He was keenly interested in cricket and was president of the Vidarbha Cricket Association and went on to become President of the BCCI. He was credited with bringing the cricket World Cup to India in 1987. The BCCI's N K P Salve Challenger Trophy tournament is named after him.

VIDEO-TAXABILITY ON IMPORT OF SERVICES

Bangalore Branch of SIRC of ICAI

Fake Chartered Accountants

The ICAEW has issued a warning about people/firms who attempt to pass themselves off as  "Chartered Accountants", who are in fact not entitled to use the designatory letters ACA or FCA.

Here is the ICAEW's warning in full:

"Each week ICAEW receives complaints - from ICAEW members and from members of the public - about individuals and organisations who describe themselves as ‘chartered accountant(s)’ or who use the letters ACA or FCA after their name when they are not entitled to.

When we receive these complaints, we take steps to make sure that the individual or organisation stops using the description ‘chartered accountant’ or the letters ACA or FCA. ICAEW takes these cases very seriously because members of the public can be misled into thinking that the individual is a qualified chartered accountant or - in the case of a former ICAEW member - that they are still entitled to describe himself/herself as a chartered accountant.

This page lists firms and individuals who have been brought to our attention in the last three years.

Firms

The following firms and companies have given an undertaking not to pass themselves off as an ICAEW member firm. They are neither current ICAEW member firms nor firms associated or connected with ICAEW.

Wilshers & Co

Haigh Hudson, Huddersfield

Compadvise Limited, London

Helrik Limited, London

The Really Cheap Accountancy Company, Salisbury

Paul Osborne & Co, London

Hill Associates, Studley, Warwickshire

Craig Callum Associates, Liverpool

Morgan Hayes, Cheshire

Re-accts, Stoke-on-Trent

KDL, Eastcote, Middlesex

Darbyshire & Co, Whalley, Lancs

Chase Henderson, London

ATC & Associates, London

Global Tax Accountants, Walkley, Sheffield

Wise & Co, London

Solar Accountants

Peter Tan & Co, South Croydon

Integra Global Solutions, Thatcham, Berks

Hammel Accountancy Services, London

Convex Capital, London

Anthony Prince & Co, Bromley

3Sixty Group Holdings Limited, London

Graham Ralph & Co Limited, Eastbourne

Young & Co, Middlesex

Individuals

The following individuals have given an undertaking not to pass themselves off as members of ICAEW. They are neither current ICAEW members nor individuals associated or connected with ICAEW.

Patricia Kemp, Stockport

Bhagwandas K. Desai, Kingsbury, London

Dinesh K. Desai, Kingsbury, London

Trevor Jacobs, Bourne, Lincolnshire

Michael Rowe, Durham

Stephen Jackson, Stoke-on-Trent

Philip Fernandez, Stratford, London

Peter Howley, Haywards Heath

Paul Hinchcliffe, Cheltenham

Rasheed Abolaji Gbesan

Keith Thomas Colman, Bawdeswell, Dereham, Norfolk

Hugh Lucie Smith, Lancing, W. Sussex

Michael Savva, Oxfordshire

Martin Edward Thorp, London

Jonathan Ashcroft, Moreton-in-Marsh

Geoffrey Langdale, High Bentham, Lancs

Jacqui Stokes, Frome

Belal Choudhury, London

Barry Gumbley, Littleborough, Lancs

Miles Offord, Sheffield

David Keith Evans, London

Bank Branch Auditors panel 2011-12 Declared by RBI

Click the following link to see the Bank Branch auditors panel 2011-12

 

click on the following

http://www.rbi.org.in/Scripts/bs_viewcontent.aspx