Price Waterhouse
Levy duty on broader industry categories to cut tax rates: Price Waterhouse
The Budget could consider levying customs duty on the basis of broader categories of the industry to reduce the number of tax rates, Price Waterhouse & Co LLP said on Thursday. The "government may come out with different slabs for various products depending on where it is placed in the value chain. Goods may be categorised as Value added/primary and raw material/Intermediary and accordingly slab rates may be fixed," said Anurag Sehgal, Managing Director at Price Waterhouse & Co LLP. The 2024-25 Budget had announced that a comprehensive review of the Customs Duty rate structure will be undertaken over the next six months to rationalise and simplify it for ease of trade, removal of duty inversion and reduction of disputes. To reduce classification disputes, the Budget had announced a review of the customs duty rates. Currently, there are more than a dozen customs duty rates and the government is looking at reducing the number of rate slabs. The Budget for 2025-26 will be tabled .
 "Levy duty on broader industry categories to cut tax rates: Price Waterhouse")
Introduce a single window clearance system for data centres: PwC-Assocham
Currently, only the state government of Maharashtra allows a single window clearance system for this industry
 "Introduce a single window clearance system for data centres: PwC-Assocham")
Top professional services firms ramping up hirings from premier UG colleges
Grant Thornton has increased its intake from UG colleges by more than double this year. In a similar trend, PwC has also ramped up its hiring of non-engineers from UG colleges
 "Top professional services firms ramping up hirings from premier UG colleges")
Price Waterhouse quits as GVK Infra auditor, cites lack of information
"Details of information and explanations sought and still not provided is reiterated in our letter dated August 12, 2020 to the management," Price Waterhouse said in its letter
 "Price Waterhouse quits as GVK Infra auditor, cites lack of information")
PwC-Satyam case: SC restores Sebi's power to restrain erring auditing firms
The apex court move comes as a big relief to Sebi as the SAT order had led to jurisdictional ambiguity
 "PwC-Satyam case: SC restores Sebi's power to restrain erring auditing firms")
Top 10 biz headlines: Auto sales down 23.5%, direct tax code delay & more
From PV sales declining for the 10th straight month to chances that the govt is unlikely to replace the Income Tax Act with the direct tax code, here are the top business headlines for Tuesday
 "Top 10 biz headlines: Auto sales down 23.5%, direct tax code delay & more")
SAT quashes Sebi's order against Price Waterhouse in Satyam scandal
The scandal involving overstatement of bank and cash balances by over Rs 3,300 cr had come to light in January 2009
Vakrangee Ltd's accounts, business face scrutiny from corporate affairs min
Vakrangee said it will "fully co-operate" with the investigation and try to complete the process at the earliest
 "Vakrangee Ltd's accounts, business face scrutiny from corporate affairs min")
SAT allows Price Waterhouse to service clients till March 2019
The Securities and Appellate Tribunal (SAT) on Thursday extended relaxation provided to Price Waterhouse (PW) to allow it to service existing clients whose financial year ends in March 2019.On January 19, the tribunal had allowed PW to continue servicing existing clients until December 2018. SAT, however, its new bench could relook at this relaxation. The tribunal's bench is set to be reconstituted as one its member is retiring this month. The matter will be further heard by the new bench.PW has the liberty to complete any work of certification other than just audit, SAT said on Thursday.PW has moved SAT against Sebi's January 10 order banning audit firms under the brand PW from providing audit services to listed companies and market intermediaries for two years for its alleged involvement in the Satyam fraud case. Two PW partners have also been banned for three years. PW is seeking a blanket stay on the Sebi's order. During the argument, PW counsel and former attorney general Mukul .
 "SAT allows Price Waterhouse to service clients till March 2019")
Satyam accounting fraud: NSE mulls removal of audit firm Price Waterhouse
The National Stock Exchange (NSE) is likely to seek removal of auditor Price Waterhouse (PW) at its upcoming board meeting. The move comes after market regulator Securities and Exchange Board of India (Sebi) imposed a two-year ban on PW for alleged involvement in the Satyam accounting fraud case. The country's largest stock exchange had appointed PW as its currently statutory auditor of the exchange for a period of five years starting September 2016. Sebi's ban on PW is applicable on all listed companies and also on intermediaries registered under it. "The exchange will propose a resolution for changing its auditor at its board meeting scheduled for February 2," said a senior exchange official. As per the Companies Act, the auditor appointed under Section 139, 140 may be removed from his office before expiry of his term only by a special resolution of the company. This requires shareholders' approval in the annual general meeting. Prior to this, the entity has to obtain approval from .
Sebi order against Price Waterhouse has audit profession in a tizzy
Most chartered accountants and audit professionals were of the view that the Sebi's order was 'harsh'
 "Sebi order against Price Waterhouse has audit profession in a tizzy")
Price Waterhouse clients to work on looking for alternative after Sebi ban
Companies to discuss new auditors at next board meetings
Aftermath of Price Waterhouse ban: Accounting firms to now face stiff gaze
All those firms that either retained or signed on PW may now have to look for fresh auditors soon but again they will mostly search among the big four
