Auditors restricted from holding securities carrying voting rights
In the series of articles relating to the amendments made by the Companies Amendment Act that has been brought into effect from December 14, 2000, let us now consider amendments relating to auditors.

Interest u/s 234B payable on returned income
A recent decision of CIT Ranchi Club Ltd, the Supreme Court has, in a very brief order, restricted the operation of section 234A of the Income-tax Act, 1961 ("the Act").

Operational procedures no less important in tax laws
The scheme of central excise assessment recognises situations in which it may not be possible to assess the amount of excise duty correctly due to non-availability of any information necessary to determine the value of excisable goods.

Reason to believe must for provisional attachment
Section 281-B of the Income-tax Act, 1961 empowers the assessing officer to attach provisionally any property belonging to a tax-payer, if he is of the opinion that it is in the interest of the revenue to do so.

SBI Caps to start stock broking activities before March-end
SBI Capital Markets (SBI Caps), after being a dominant player in the investment banking business, is all set to start stock broking business by the end of this fiscal.

Ador Powertron, iQ infotech IPOs likely to hit market next week
As the markets show some signs of improvement, two initial public offers (IPOs) are slated to hit the market in the beginning of next month.


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