Complete Video of Union Budget 2015-2016 presented by Finance Minister Arun Jaitley

Highlights of Budget 2016-2017

Union Budget - 2016

1.       To provide 130000/cr health cover for senior citizens falling in the poor income slab

2.      Rebate under section 87 A increased from Rs. 2000/- to 5000/- in respect of all peoe having total in one less than 5 lacs

Professional Opportunities for CA firms

Rajasthan Tourism Development Corporation Limited Last Date : Feb 29, 2016 Leading charted accountants firms / company for accounting taxation and allied works on

Sony World Photography Awards 2016: 16 images that will blow your mind

The 2016 edition of the Sony World Photography Awards, the world’s biggest photography competition, organised by the World Photography Organisation, announces the shortlists for its Professional, Open and Youth competitions.
Themes covered include the Ukraine conflict, Europe’s refugee crisis, and drone and underwater photography.

The winner of the Photographer of the Year title will be announced on 21 April before an exhibition of the photographs is held from 22 April-8 May. 

Six Indian photographers –- one in the professional category, and five in the open competition have also been shortlisted in the awards.
CLICK ON THE IMAGES FOR LARGER VIEW

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Matthias Hangst, Germany
Professional; shortlisted in the Sport category

Teams compete in the Women's Team Free Synchronised Swimming Preliminary on day four of the 16th FINA World Championships at the Kazan Arena on July 28, 2015 in Kazan, Russia. Photograph: Matthias Hangst/Getty Images/Sony World Photography Awards

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Stephanie Sinclair, United States
Professional; Daily Life

There are more than 300 people that with the Ringling Bros. and Barnum & Bailey circus blue unit, representing 25 different countries and speaking everything from Russian to Arabic to Guarani. A

FAILURE TO REGISTER WITH SEBI FOR ONLINE COMPLAINT REDRESSAL SYSTEM –SCORES- SEBI IMPOSOES FINE ON TWO LISTED COMPANIES

FAILURE TO REGISTER WITH SEBI FOR ONLINE COMPLAINT REDRESSAL SYSTEM –SCORES- SEBI IMPOSOES FINE ON TWO LISTED COMPANIES

 

SEBI vide its two earlier circulars one in August 2012 and another in April 2013 had directed all the listed companies to get SCORES authentication within the

CBI arrests IT officer, CA for accepting bribe

PUNE : The Central Bureau of Investigation (CBI) has arrested an Income Tax Officer, Ward 58 (3), D Block, Vikas Bhawan, New Delhi and a chartered accountant for allegedly demanding and

Now unclaimed redemption and dividend amount can be invested in money market mutual funds: SEBI

CIRCULAR ON MUTUAL FUNDS

CIRCULAR NO.SEBI/HO/IMD/DF2/CIR/P/2016/37, DATED 25-2-2016

A. Treatment of unclaimed redemption and dividend amounts

Please refer to SEBI circular dated November 24, 2000 on treatment of unclaimed redemption and dividend amounts. In partial modification of the aforementioned circular, it has been decided that:

SFIO beefs up resources; empanels 91 chartered accountant firms

http://economictimes.indiatimes.com/news/economy/policy/sfio-beefs-up-resources-empanels-91-chartered-accountant-firms/articleshow/51175949.cms

Strengthening its resources to deal with white collar crimes, SFIO has empanelled as many as 91 chartered accountant firms to carry out forensic audit and analysis of financial statements on a case to case basis.

Facing manpower crunch, Serious Fraud Investigation Office (SFIO) has been looking to rope in more people and a revised set of recruitment rules is being finalised by the government for it. Against this backdrop, the empanelment of 91 entities would help the probe agency in i ..

Read more at:http://economictimes.indiatimes.com/articleshow/51175949.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Woman to head city ICAI branch

Aurangabad: City-based chartered accountant Renuka Deshpande has taken over as chairperson of the Aurangabad branch of western India regional council (WIRC) of Institute of Chartered

What is the accounting system followed by the Government?

The Constitution of India envisages the accounts of the Union and the States to be kept in such a form as the President may prescribe on the advice of the Comptroller and Auditor General of India.

The government accounts are kept on cash basis. Only actual receipts and payments during the

WhatsApp to stop supporting BlackBerry platform, older Nokia, Android devices

http://www.ibnlive.com/news/tech/whatsapp-to-stop-supporting-blackberry-platform-older-nokia-android-devices-1209185.html

Prime Minister gives important tips to handle exam pressure

All services provided by Government or local authority to business entity liable to service tax w.e.f. 1-4-2016

In the budget of 2015-16, service tax was imposed on all services provided by Government or local authority to business entity. This provision was not notified and was not made effective when other provisions were notified and made effective on 14-5-2015.

However, this provision has now been made effective from 1-4-2016.

The issues arising out of this change are discussed in this article.

All services provided by Government to business entity subject to serviced tax w.e.f. 1-4-2016

The negative list of services was reading as follows upto 1-4-2016 - Services by Government or a

Discount on ESOP – The contentious issue!

1. Employee Stock Option Plan / Scheme

1.1 An employee stock option Plan (hereinafter referred to as 'ESOP') is a stock option granted to specified employees of a company. ESOPs carry the right, but not the obligation, to buy a certain amount of shares in the company at a predetermined price. Section 2(15A) of the Indian Companies

Sebi to auction Suman Motels' property

NEW DELHI: Markets regulator Sebi will next month auction a property of Suman Motels, which had garnered funds through illegal money pooling schemes to repay investors.
The Securities and Exchange Board of India (Sebi) has initiated the process for sale of assets of the company after it failed to pay

DRAFT POLICY ON DISCLOSURE OF INFORMATION UNDER REGULATION 30 OF SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015

DRAFT POLICY ON DISCLOSURE OF INFORMATION UNDER REGULATION 30 OF SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 (adopted on 30th November, 2015 which is effective from 01.12.2015)

1. PREAMBLE:

The Board of Directors (Board) of --------------Limited (the Company) has adopted the following policy and procedure with regard to determination of

Reliance launches 4G-enabled LYF Flame 1, Wind 6 smartphones at Rs 6,399 onwards

http://www.ibnlive.com/news/tech/reliance-launches-4g-enabled-lyf-flame-1-wind-6-smartphones-at-rs-6399-onwards-1208793.html

SEBI debars Auditor from issuing certificates for a wide range of entities and purposes

SEBI has, for the first time, debarred
< http://www.sebi.gov.in/cms/ sebi_data/attachdocs/ 1455718832970.pdf> an
Auditor (Chartered Accountant) from issuing certificates for a wide range
of entities and purposes.
 
The matter concerned a listed company (“the Company”) that was alleged to

Unveiled: The world's first 'invisible' mobile phone charger

http://www.ibnlive.com/news/tech/unveiled-the-worlds-first-invisible-mobile-phone-charger-1208737.html

SBI, Indian Bank employees to participate in Feb 29 strike

http://www.moneycontrol.com/news/business/sbi-indian-bank-employees-to-participatefeb-29-strike_5675741.html

CX - Staff colony provided by company is directly and intrinsically linked to its manufacturing activity - Cost necessarily forms part of business expenditure - Consequently, services which were crucial for maintaining staff colony are Input services: CESTAT

 THE appellant availed CENVAT credit of Rs.12,93,573/- in respect of services utilized for the maintenance or repairs of residential buildings/quarters.
Revenue was of the view that these services will not fall under the ambit of "input service" in terms

Highlights of Railway Budget

India's first rail auto hub, boost to e-catering, connectivity to North-East and no hike in passenger fares. Here's a quick recap of all major announcements made by Railway Minister Suresh Prabhu. 

This is Mr. Prabhu's second rail budget. 

1	No hike in passenger fares.
2	Action has been initiated on 139 budget announcements made last year.
3	Eliminate all unmanned level crossings by 2020.
4	Swacch Bharat: 17000 biotoilets and additional toilets in 475 stations before the close of this financial year.
5	Increased quota for senior citizens and women travellers this year.
6	Wifi at 100 stations this year and 400 stations next year.
7	Enhanced capacity of e-ticketing system from 2,000 tickets/min to 7,200/min. Supporting 1.2 lakh concurrent users now, as opposed to 40,000 earlier.
8	All major stations to be brought under CCTV surveillance in a phased manner.
9	Deen Dayal coaches for long distance trains for unreserved passengers. These coaches will include potable water and higher number of mobile

Professional Oppurtunities for CA firms

Indian National Centre For Ocean Information Services Last Date : Feb 25, 2016 Empanelled for charted accountant firm with comptroller & auditor general of india to conduct

Deductions/Exemptions for senior citizens under Income Tax for FY 2015-2016 and AY 2016-2017

1) Basic exemption from income tax upto Rs.3,00,000.
2) Rebate u/s 87A upto income tax of Rs.2000 if total income is not more than Rs.5lakhs.
3) Contribution under senior citizen savings scheme rules 2004 upto a maximum of Rs.150000/-

Vacancy for CA Articleship in HP

Job Description 

Internship-1489840

Description

HP is a proven leader in personal systems and printing, delivering innovations that empower people to create, interact, and inspire like never before. We leverage our strong financial position to extend

Samsung Galaxy S7 vs S7 Edge: Top New Features!

Service Tax implications on Land Development Agreements between landlord and developers

In case of a Real estate and construction industry, where due to various political and economical reasons we have seen that there is a sharp downturn being noted in the sale of residential and commercial construction projects irrespective of fact that the prices of land are still reaching sky high. Therefore, in a current business

Vacancy for CA in Panipat

there are vacancy for CA with COP at Panipat. for complete detail pl send ur profile 

Schedule of programmes by President and Vice president of ICAI

http://www.icai.org/new_post.html?post_id=2173&c_id=237

Sebi directs Golden Heaven Agro to repay investor money

http://www.moneycontrol.com/news/market-news/sebi-directs-golden-heaven-agro-to-repay-investor-money_5621161.html

Expiry special option tip scam exposed

After our last expose post on Stock Tips Free Trial scam time I hope investors and traders benefited by avoiding such scamsters.

The menace of these tippers has been increasing more and more and to counter that we must build up awareness among Investors and Traders.

There is a new style of scam that is operating in the Market and it is called the EXPIRY SPECIAL.

As and when we near an expiry date of an derivatives contract, e.g. tomorrow 25th Feb is the expiry of

Devolution of taxes - Centre allocates Rs 5.24 lakh Crore out of Rs 8.36 Crore to States so far

NEW DELHI : THE Union Government accepted the recommendations of the Fourteenth Finance Commission (FFC) under which there was a phenomenal increase in the tax devolution to the States due to increase of share in the divisible pool of taxes from 32% to 42%. As per its commitment, in

RIGHT OF A SHAREHOLDER ON THE PROPERTY OF THE COMPANY

The company incorporated under the Companies Act is formed by the promoters who are also the shareholders of the company. The number of shareholders may differ according to the nature of the

Extended period of limitation cannot be invoked in second audit when during first audit the issue in question was never raised

Trans Engineers India Pvt. Ltd. v/s CCE, Pune 2015 (40) STR 490 (Tri-Mum.)

Extended period of limitation cannot be invoked in second audit when during first audit the issue in question was never raised.

FACTS:

The assessee took registration in February, 2005 and charged service tax on invoices raised

Empanelment of Concurrent Auditors for Union Bank of India for F.Y. 2016-17

Central Audit & Inspection Department

The Arcade, World Trade Centre, Cuffe Parade, Mumbai 400005

Document for Empanelment of Concurrent Auditors for Union Bank of India for F.Y. 2016-17

To whomsoever it may concern

Union Bank of India invites applications from eligible/interested

Strike by All India Bank Officers’ Confederation (AIBOC)

 

Canara Bank has informed BSE that the Bank has been informed that the All India Bank Officers’ Confederation (AIBOC) has given a call for strike on February 29, 2016.

The above is a strike call given by All India Bank Officers’ Confederation (AIBOC) is at Industry

Supreme Court Resolves S. 12AA Deemed Registration Controversy

S. 12AA: Non disposal of an application for registration before the expiry of six months as provided u/s 12AA (2) results in deemed grant of registration

The short issue is with regard to the deemed registration of an application under Section 12AA of the Income Tax Act. The High Court has taken the view that once an application is made under the said

DISCIPLINARY ACTION AGAINST RETIRED GOVERNMENT SERVANT

Disciplinary action is being taken against the erring official as per the rules framed in this behalf. We have witness many an officer/officer has been suspended on the date of retirement on superannuation and their pensionary benefits are subject to the outcome of the disciplinary proceedings.  The issue to be discussed in this article is whether a Government servant after his retirement be initiated with

Professional Opportunity

  Internal Audit services by Rajasthan Medical Services Corporation Limited- RAJASTHAN, last date 26.02.2016, for Detail please click on:

Indian tax authorities issue notice to HSBC for tax evasion by Indians

London: Armed with sufficient evidence, Indian tax authorities have issued notices to global banking giant HSBC, warning of prosecution against its Swiss and Dubai arms for allegedly abetting tax evasion by four Indians and their families.

The UK-based HSBC, which also disclosed on Monday ongoing probes by tax authorities from various countries

5 New inventions you didn't know existed

Sebi acts against auditor Shashi Bhushan for false, misleading disclosures

In a nearly-decade old case, Sebi on Wednesday barred auditor Shashi Bhushan from issuing any certificates required under the securities law after finding that his firm fraudulently certified financial statements of Ritesh Properties and Industries.
Bhushan, proprietor of Bhushan Aggarwal & Co, was found to have violated norms related to

MWC 2016: Samsung to unveil all-new Galaxy S7, S7 Edge smartphones today

http://www.ibnlive.com/news/tech/mwc-2016-samsung-to-unveil-all-new-galaxy-s7-s7-edge-smartphones-today-1205701.html

Converted companies can't change name for one year: govt

The government has proposed revised rules for converting unlimited liability companies into limited liability firms, which among others, bar such entities from changing their names for one year after conversion.

Suggesting amendments to the rules, the Corporate Affairs Ministry has said that conversion

Firms begin hunt for new auditors

There is going to be a major change in the auditors' market as many companies are planning to change them by the end of this year after a government-appointed panel has rejected the industry request to remove a provision in the Companies Act that mandates auditor rotation by the end of

List of faculties finalised by I C A I.

 List of Faculty database associated in CPE POU’s Programmes- Subject Wise 

ACCOUNTING
S.No	Faculty Name	Topic	Mobile No.	E-mail IDs
1.	CA. S. Sundaresan	Accounts & Audit	9845128321	ssundaresan@deloitte.com
2.	CA R.S.Balaji	Important Issues in Accounts & Audit.	9500069130	rs.balaji.raman@gmail.com
3.	CA. Paresh Clerk	Accounts of Companies	9820232640	paresh.clerk@bsmco.net
4.	CA Ratendra Kumar	Accounting Standards	9431016174	ratendra@yahoo.com
5.	Yogesh Sohani	AS 1 Presentation of Financial Statements	7498038427	ysohani@ksaiyar.com
6.	CA Jayesh Gandhi	AS 2: Valuation of Inventories,  AS 20: Earnings Per Share, AS 24: Discontinuing Operations	9821167463	jayesh.gandhi@in.ey.com
7.	Vimal Agarwal	AS 2 Inventory – Accounting, Valuation and Disclosure	9953048988	vimal.agarwal@pepsico.com
8.	Dolphy Dsouza	AS 9 Revenue Recognition	9819020619	dolphy.dsouza@in.ey.com
9.	Kinzal	AS 12 Income Taxes	9029679425	kinzaldharod@gmail.com
10.	Shailesh Deshpande	AS 15 Employee Benefits	9869960393	sdeshpande@ksaiyar.com
11.	Sivasubramanian	AS 19 Lease Accounting	9884251110	sswaminath23@csc.com
12.	CA Anand Mathur	Consolidation – Refresher on how to do it (AS21, AS23, AS27)	9821716869	anandmathurca@gmail.com
13.	CA. Vaishali Koparkar	Consolidation	9821122900	vaishali.koparkar@larsentourbo.com
14.	Kirti Oberoi	AS 27 Separate Financial Statements	8108650939	koberoi@ksaiyar.com
15.	Sudarshan Pai	AS 32 Financial Instruments Presentation	8879629640	sudarshan.pai@bta-india.com
16.	Navneet Surana	Share Based Payment, Differences in Employee Benefit & Income Taxes	02066036000	navneet.surana@in.ey.com
17.	Vineet Surana	Share Based Payments, Difference in Employee Benefits and Income Taxes	02066036000	vineet.surana@in.ey.com
18.	CA Bharat Gajjar	Share/Enterprise Valuation by DCF Method	9824046985	bharatpgajjar@gmail.com