The most comprehensive news portal for Chartered Accountants and Other Professionals around the world.
Monday, April 20, 2015
Vacancy of CA Inter/ ICWA Inter
One of the leading MNC is looking for a candidate with 1-3 years of experience in vat matters, assessment etc.
Specifications are as follows:
Changes in CARO 2015 report as compare to CARO 2003
Here, synopsis of the major changes in CARO 2015 report.
After the enactment of companies Act’2013, the companies Act,
1956 (old act) ceased to have effect from April 1, 2014.As a corollary, the companies
(Auditor‘s Report) Order, 2003 (CARO, 2003) also
Sunday, April 19, 2015
ISACA INTRODUCES PORTFOLIO OF NEW CYBERSECURITY CERTIFICATIONS USING PERFORMANCE-BASED EXAMS
ISACA has introduced a portfolio of new cybersecurity certifications
that are the first to combine skills-based training with
performance-based exams and certifications. The seven new Cybersecurity Nexus (CSX) certifications
help professionals build and evolve their careers in a constantly
changing
Breaking the banks: Tax jump may drive HSBC, StanChart away from UK
London — HSBC and Standard Chartered are looking at the viability of quitting London for a new home in Asia because a big jump in a tax on UK banks makes staying in Britain increasingly painful.
Several investors told Reuters they want the two banks to do a thorough analysis on whether it makes
FAQs on CSR by the Corporate Laws and Corporate Governance Conmittee of ICAI.
Click here download
Speaking
in Toronto, Canada, Hoogervorst explained that the new mission
statement was in line with the Foundation’s main objective - the
development of high quality, understandable, enforceable and globally
accepted financial reporting standards.
Hoogervorst said, “Our mission is to develop IFRS that brings transparency, accountability and efficiency to financial markets around the world.
“Our work serves the public interest by fostering trust, growth and long-term financial stability within the global economy.”
The new mission statement, which can be found on the IFRS website’s ‘about us’ home page, says that IFRS seeks to improve transparency through enhancement of international comparability; to strengthen accountability by reducing the information gap between the providers of capital and the people to whom they have entrusted their money; and to improve economic efficiency.
- See more at: http://economia.icaew.com/news/april-2015/iasb-chief-announces-new-mission-statement#sthash.9J2ldNrQ.dpuf
Hoogervorst said, “Our mission is to develop IFRS that brings transparency, accountability and efficiency to financial markets around the world.
“Our work serves the public interest by fostering trust, growth and long-term financial stability within the global economy.”
The new mission statement, which can be found on the IFRS website’s ‘about us’ home page, says that IFRS seeks to improve transparency through enhancement of international comparability; to strengthen accountability by reducing the information gap between the providers of capital and the people to whom they have entrusted their money; and to improve economic efficiency.
- See more at: http://economia.icaew.com/news/april-2015/iasb-chief-announces-new-mission-statement#sthash.9J2ldNrQ.dpuf
Speaking
in Toronto, Canada, Hoogervorst explained that the new mission
statement was in line with the Foundation’s main objective - the
development of high quality, understandable, enforceable and globally
accepted financial reporting standards.
Hoogervorst said, “Our mission is to develop IFRS that brings transparency, accountability and efficiency to financial markets around the world.
“Our work serves the public interest by fostering trust, growth and long-term financial stability within the global economy.”
The new mission statement, which can be found on the IFRS website’s ‘about us’ home page, says that IFRS seeks to improve transparency through enhancement of international comparability; to strengthen accountability by reducing the information gap between the providers of capital and the people to whom they have entrusted their money; and to improve economic efficiency.
- See more at: http://economia.icaew.com/news/april-2015/iasb-chief-announces-new-mission-statement#sthash.9J2ldNrQ.dpuf
Hoogervorst said, “Our mission is to develop IFRS that brings transparency, accountability and efficiency to financial markets around the world.
“Our work serves the public interest by fostering trust, growth and long-term financial stability within the global economy.”
The new mission statement, which can be found on the IFRS website’s ‘about us’ home page, says that IFRS seeks to improve transparency through enhancement of international comparability; to strengthen accountability by reducing the information gap between the providers of capital and the people to whom they have entrusted their money; and to improve economic efficiency.
- See more at: http://economia.icaew.com/news/april-2015/iasb-chief-announces-new-mission-statement#sthash.9J2ldNrQ.dpuf
Punjab and Sind Bank pressurises Chartered Accountant to complete audit without providing details of advances
In the words of sender:
I am SBA of P&S Bank.
From this year bank has
discontinued the third party software Called TIPS, which was used to
prepare advance returns showing each and every advance account under
Standard , Sub-Standard, DF etc. In this report advances were also
reported under group like CC, OD, House Loan, etc. and under
Providing of chartered accountant service to District Co.operative Bank Limited
District Co.operative Bank Limited-Ghaziabad
Last Date : Apr 20, 2015
Providing of chartered accountant service
Last Date : Apr 20, 2015
Providing of chartered accountant service
Jordan Spieth's U.S. Masters victory struck another huge blow for golf's 'Generation Next'
Jordan Spieth's U.S. Masters victory struck another huge blow for golf's 'Generation Next', leaving an inspired Jason Day convinced of a changing of the guard.
The 21-year-old Spieth's brilliant wire-to-wire win at Augusta shot him up to world number two
The 21-year-old Spieth's brilliant wire-to-wire win at Augusta shot him up to world number two
12 pre-workout energy boosters guaranteed to improve your performance
1) Smoothies!
Image credit: fitgirlcode
If you are in too much of a hurry to sit on a table and snack before going to gym, just make yourself smoothies with some of your favorite fruits. Fill up your bottle and keep taking a sip or two before your workout and you will not complain about dehydration, indigestion or fatigue.
Michael Phelps, the most successful and decorated Olympian ever, eats a bowl of oatmeal, bread with
Mixed Vegetable and Angel Hair Pasta Upma recipe
Mixed Vegetable and Angel Hair Pasta Upma
By Sify Bawarchi
Total Time: 1 hr
Makes/Yield: 2
Difficulty: Moderate
Ingredients
- 1/2 packet - Angel Hair pasta
Salient Features Part I Undisclosed Foreign Income and Assets (Imposition of Tax) Bill 2015
CHAPTER I: SCOPE
| |||||
(1)
|
This law would apply to every person, being a resident other than not ordinarily resident in India within the meaning of section 6(6) of the Income-tax Act, 1961, by whom tax is
| ||||
Even investment in name of partners would provide sec. 54EC relief to partnership firm
[2015] 56 taxmann.com 76 (Pune - Trib.)
IT
: Where partners of assessee-firm introduced land and building as their
capital contribution to firm, said land and building
Under fire, govt. hints at U-turn on new I-T forms
Faced with criticism, the Modi government may roll back
the new income tax returns forms, notified on Friday, that mandate
disclosures of foreign trips and all bank accounts held in and outside
India
Saturday, April 18, 2015
Friday, April 17, 2015
Details of Changes in New ITR as launched on 15/04/2015
ITR-1
1) Introduction of furnishing Aadhar Card Number in ROI. Which will be used for EVC system.
Introduction of EVC for verification of return of income filed as an option to send ITR-V to CPC,
Wednesday, April 15, 2015
Indian priest Annamalai Annamalai also known as Swamiji Sri Selvam Siddhar gets 27-year jail term for bank fraud in U.S.
An Indian-origin former leader of a now defunct Hindu
temple in Georgia has been sentenced to 27 years in prison for
committing bank and tax frauds, money laundering and using the temple’s
income to fund his personal lifestyle.
Annamalai
Annamalai also known as Swamiji Sri Selvam Siddhar, was in August 2014
convicted for bank and tax frauds following a two-week jury trial.
He was also convicted of bankruptcy fraud offences in connection with
the temple’s petition for
Companies with old Share Application money get breather
Share application money which was outstanding on 31st March, 2014 now has to be refunded by 1st
Tuesday, April 14, 2015
Vacancy for CA in Honeywell
Job Description
Project Lead
Requisition ID
: 00279935
Description
Area of Responsibilities Key Activities/Elements Service Delivery
Reporting and in-depth analysis of monthly financials (P&L, B/S, Free Cash Flow, etc) to support business reviews.
Develop meaningful and insight business metrics and work with business partners assist decision
HC allowed revenue exp. even if it was claimed for first time in course in assessment proceedings
April 15, 2015[2015] 55 taxmann.com 477 (Gujarat)
IT: Claim of revenue expenditure made for
first time in course of assessment proceeding without revising return of
income, was allowable under section 37(1)
IT: Lease rent paid for machinery and
equipments taken on lease for establishing a new
Monday, April 13, 2015
Sunday, April 12, 2015
Service Tax on Goods Transport Agency: An analysis of person who is liable to pay Service Tax”
Service Tax on Goods Transport Agency: An analysis of person who is liable to pay Service Tax”
Generally
there is a notion that transporter is exempted from payment of service
tax and only the person who pays the freight is liable to pay service
tax. But it is not the case, still transporter is liable to pay service
tax if the service recipient is other than the following as per the
notification No.
To Check Frauds, Government Tightens Reporting Norms for Auditors
New Delhi: To check corporate
wrongdoings, the government today made it mandatory for auditors to flag
off any lapses found on the company's part, including those related to
frauds, inventory and asset management, outstanding dues and compliance
to statutory regulations.
The order comes against the backdrop of enhanced efforts by the government and regulators to
The order comes against the backdrop of enhanced efforts by the government and regulators to
Ministry of Corporate Affairs (MCA) has notified the Companies (Auditor’s Report) Order, 2015
Please note that the Ministry of Corporate Affairs (MCA) has notified the Companies (Auditor’s Report) Order, 2015 on 10th April 2015. Click on the following URL for the text of the aforesaid
Cos cannot carry forward excess funds spent on CSR works But they can disclose in their annual reports excess spending of previous years while giving reasons for not spending in those later years
Excess amount spent by corporates on CSR activities in a particular fiscal under the companies law cannot be carried forward to subsequent financial years.
With companies preparing to disclose details about CSR expenses in their annual filings, chartered accountants' apex body ICAI has issued detailed set of Frequently Asked Questions (FAQs) for its
With companies preparing to disclose details about CSR expenses in their annual filings, chartered accountants' apex body ICAI has issued detailed set of Frequently Asked Questions (FAQs) for its
Tuesday, March 31, 2015
Monday, March 30, 2015
Require 40 Chartered Accountants in Bank of Maharashtra
Good News
Bank of Maharashtra is
looking for 40 talented CA. Professionals, for more details please click on
Bank managers can file a case of Fraud against the auditors too
PREVENTION MECHANISM FOR
FRAUD UNDER COMPANIES ACT,2013
Fraud under the Companies Act
Fraud in relation to affairs
of a company or any corporate body as
defined in Section 447 of Companies
Act, 2013 includes any act, omission, concealment of any fact or abuse of position committed by any person
or
MCA- Deposit Circular
NICAI UPDATES:
Tamil Nadu Budget 2015-16 Changes in VAT
Tamil Nadu Budget 2015-16 Changes in VAT
In
order to boost the manufacturing sector bogged down by negative
sentiments, the State Government has come forward with some relief in
electricity tax, and reversal on Input Tax credit when stocks are moved
out of State in pursuance of stock transfer, interstate sales etc., in
the budget
Introduction:
CHARTERED ACCOUNTANT REQUIRED FOR UK OFFICE
WE ARE LOOKING FORWARD FOR A CHARTERED ACCOUNTANT WILLING TO WORK IN UK OFFICE OF OUR CLIENT!!!!
PLEASE CONTACT THE UNDERSIGNED
DEPOSIT UNDER COMPANIES ACT, 2013
Deposits are crucial Topic under Companies
Act, 2013. As the month of March is on its end, most of the companies which
have taken loan earlier under the companies act 1956 and have filed DPT-4 in
this Financial year declaring that the companies has such and such amount of
deposits as on
Sunday, March 29, 2015
SERVICE TAX: ANALYSIS OF AMENDMENTS APPLICABLE WITH EFFECT FROM 1st APRIL 2015
SERVICE TAX: ANALYSIS OF AMENDMENTS APPLICABLE WITH EFFECT FROM 1st APRIL 2015
The Finance Bill, 2015 has proposed lot of changes in Service tax provisions. These changes will be coming into effect on various dates. Based on date of applicability of provisions, the various changes
The Finance Bill, 2015 has proposed lot of changes in Service tax provisions. These changes will be coming into effect on various dates. Based on date of applicability of provisions, the various changes
MCA: Last date CLSS Scheme 2014 is 31-03-2015
MCA has notified the CLSS Scheme - 2014 in the month of August, 2015 and was
effective till 31st December,
2014. According to the Clause 6 (vi) of the Scheme, the application for seeking
immunity in respect of belated documents filed under
PM Narendra Modi to personally monitor public grievances against the Income Tax department on monthly basis
Prime Minister Narendra Modi a.k.a NAMO has come to the rescue of
beleaguered taxpayers. According to a terse note dated 26th March 2015
addressed by Hon’ble Ms. Anita Kapur, Chairperson of the CBDT, to the
Income-tax department, she and the Revenue Secretary had a conference
with NAMO regarding the status of public grievances against the
department. At the meeting, NAMO “expressed dissatisfaction about delays in responding to public grievances” by the
THE MANAGING COMMITTEE OF PANIPAT BRANCH of ICAI APOLOGISES
DEAR PROFESSIONAL COLLEAGUES
AT
THE OUTSET I ON BEHALF OF THE MANAGING COMMITTEE OF PANIPAT BRANCH WISH
TO APOLOGISE TO ALL THE MEMBERS OF THE PANIPAT BRANCH WHO HAVE COME TO
ATTEND THE SEMINAR ON BANK AUDIT ON 20/03/2015 BUT LEFT DISAPPOINTED DUE
TO SOME DIFFERENCES BETWEEN THE MEMBERS OF THE MANAGING
Saturday, March 28, 2015
ETDS RPU 4.2 and java 1.0 released NSDL e-TDS/TCS RPU for Quarterly Returns
NSDL e-TDS/TCS RPU for Quarterly Returns
From
FY 2005-06 onwards, TDS/TCS returns have to be filed every quarter
(i.e. quarterly statements); however, as advised by Income Tax
Department, acceptance of TDS/TCS statements pertaining to Financial
Years prior to 2007-08 has been discontinued at TIN. The following
utilities can be used to prepare regular quarterly statements:
Wednesday, March 25, 2015
Invite to enroll in Independent Directors repository by Women Members Empowerment
As you may be aware, the ICAI, being the regulator of accounting and auditing profession in India since its inception in the year 1949, is always available to support and take forward all the endeavors of the government.
One of the important initiatives of the Government was the introduction of The Companies Act, 2013 which incorporated several important provisions that modernize India's corporate world, necessitates and addresses
Monday, March 23, 2015
Vacancy for CA in KPMG
Job Description
Project Management- Address the complex research needs forbusiness development, updates on market development, and client engagements.Conceive, design and execute secondary research on:
- Company: its scope of business activity andbusiness model, segments, revenue model, strategy, issues and challenges,M&A history, competitive positioning, organization structure,
CBDT Takes Stern View Of Laxity By Counsel And CIT In Court Matters
The CBDT has issued two letters, both dated 20th March 2015, in which
it has referred to an incident in the Delhi High Court where the Court
had sought information relating to a case. Though the Standing Counsel
communicated the directions of the Court to the concerned CIT, this was
done in a
The ICAI has recently announced an one time amnesty scheme for restoration of membership with retrospective effect
The
ICAI has recently announced an one time amnesty scheme for restoration
of membership with retrospective effect. The scheme and relevant Form
No. 9 are enclosed herewith for your ready
Bank a/c can be attached::Attachment Order issued by Tax Authorities
Attachment Order issued by Tax Authorities
The
credit balance in the account of a customer of a banker may be
attached by the Income-Tax authorities, if the former defaults in
making payment payment of the tax due from him. Section 226 (3) of the
Indian Income- Tax Act, 1961, authorizes the Income- Tax Act, 1961,
authorities
CAs under ambit of black money bill
The government's black money bill seeks to bring the financial intermediary community, including chartered accountants
and lawyers, within the ambit of the tough provisions of the proposed
law, in addition to those who keep unaccounted wealth in foreign
countries.
Under the new law, there are two instances when an individual would be punishable with
Under the new law, there are two instances when an individual would be punishable with
ICAI Announcement for Launching batch of the Certificate Course on Valuation at Jamshedpur
| Announcement for Launching batch of the Certificate Course on Valuation at Jamshedpur |
|
The Corporate Laws & Corporate Governance
Committee of ICAI is launching its first batch for the Certificate
Course on Valuation at Jamshedpur from 26th April, 2015.
The total duration of the course is spread over 7 full day classes held on weekends between 10 am to |
Providing of Chartered Accountant for 3 years.
Haryana Forest Development Corporation Limited
Last Date : Mar 24, 2015
Providing of Chartered Accountant for 3 years.
Last Date : Mar 24, 2015
Providing of Chartered Accountant for 3 years.
From Chartered Accountants (Empanelled with Accountant General of Punjab/CG /Controller Audit General of Punjab.
Punjab State Board Of Technical Education And Industrial Training
Last Date : Mar 24, 2015
From Chartered Accountants (Empanelled with Accountant General of Punjab/CG /Controller Audit
Last Date : Mar 24, 2015
From Chartered Accountants (Empanelled with Accountant General of Punjab/CG /Controller Audit
Works Contracts are liable to Service Tax even before June 1, 2007
NEW DELHI, : NETIZENS may
recall the order of Tribunal referring the issue whether the service
portion in execution of Works Contract is taxable under the pre-
01.06.2007 services of Commercial or Industrial Construction service
(CICS), Construction of Complex Service (COCS) and Erection,
Finance Bill 2015: TDS FROM SALARIES- PROPOSED AMENDMENT – duty on employee should also be cast to provide proof, evidence, particulars etc. of claims for consideration.
Finance Bill 2015: TDS FROM
SALARIES- PROPOSED AMENDMENT – duty on employee should also be cast to
provide proof, evidence, particulars etc. of claims for consideration.
The proposed amendment in section 192 is reproduced below with highlights for an easy to
PAN mandatory for service tax registration: Fin Min
New Delhi,
Mar 18 (PTI) Permanent Account Number (PAN) is now mandatory for private
firms for getting service tax registration besides email and mobile
number.
"Applicants, who are not government departments shall not be granted registration in the absence of
"Applicants, who are not government departments shall not be granted registration in the absence of
Women Director-Countdown Begins
CS Monika Jain
Companies Act, 2013 along with Companies (Appointment and qualification of Directors) Rules, 2014 had made it mandatory for the following class of companies to have at least one women director in their Board:
a) All Listed Companies
b) Every Public Company having a Paid-Up Share Capital of Rs. 100 Crore or more.
c) Every Public Company having a Turnover of Rs. 300 Crore or more
Sunday, March 22, 2015
Appointment Of Chartered Accountants Firm For Certification Of Accounts Of Hudco(Ro-Ncr)
Housing And Urban Development Corporation Limited
Last Date : Mar 23, 2015
Appointment Of Chartered Accountants Firm For Certification Of Accounts Of Hudco(Ro-Ncr) For
Last Date : Mar 23, 2015
Appointment Of Chartered Accountants Firm For Certification Of Accounts Of Hudco(Ro-Ncr) For
Application From The Eligible Technical And Financial Bid From Ca Firm For Certification Of Accounts Of Hudco For Ro.
Housing And Urban Development Corporation Limited - Kohima Nagaland
Last Date : Mar 23, 2015
Application From The Eligible Technical And Financial Bid From Ca Firm For Certification Of
Last Date : Mar 23, 2015
Application From The Eligible Technical And Financial Bid From Ca Firm For Certification Of
Empanelment Of Chartered Accountants For Concurrent Audit Of Branches.
Baroda Gujarat Rural Bank
Last Date : Mar 23, 2015
Empanelment Of Chartered Accountants For Concurrent Audit Of Branches.
Last Date : Mar 23, 2015
Empanelment Of Chartered Accountants For Concurrent Audit Of Branches.
Expression of Interest consultancy services to function as consultancy services to function as internal auditor of MACP
Maharashtra Agricultural Competitiveness Project
Last Date : Mar 23, 2015
Expression of Interest consultancy services to function as consultancy services to function as internal
Last Date : Mar 23, 2015
Expression of Interest consultancy services to function as consultancy services to function as internal
Request for proposals for appointment of statutory auditor firm of bihar rural roads development agency (BRRDA), Rural works department.
Bihar Rural Roads Development Agency
Last Date : Mar 23, 2015
Request for proposals for appointment of statutory auditor firm of bihar rural roads development
Last Date : Mar 23, 2015
Request for proposals for appointment of statutory auditor firm of bihar rural roads development
Today's Horoscope
Aries: March 21st - April 20th
Today:Today, you will turn an attentive ear to
your inner voice. As a result, you will able to execute all your plans
with precision. Besides being cheerful, you will even take
disappointments with a
Rare picture of Cornelia Sorabji, the first female advocate from India and the first woman to study law at Oxford, making a radio broadcast in London in circa 1931
Cornelia Sorabji, the first female advocate from India and the first woman to study law at Oxford, making a radio broadcast in London in circa 1931
CRICKET (IPL 8) - 2015 Schedule
CRICKET (IPL 8) - 2015
Schedule :
�� 08.04.2015 - KKR vs MI
�� 09.04.2015 - CSK vs DD
�� 10.04.2015 - KXIP vs RR
�� 11.04.2015 - CSK vs SRH
�� 11.04.2015 - KKR vs RCB
Read more »
Schedule :
�� 08.04.2015 - KKR vs MI
�� 09.04.2015 - CSK vs DD
�� 10.04.2015 - KXIP vs RR
�� 11.04.2015 - CSK vs SRH
�� 11.04.2015 - KKR vs RCB
Read more »
New Companies Act of 2013 will push many a company to turn a private limited one
A private company will have an easier life than a public one under the new Companies Act
The
104-year-old T. V. Sundram Iyengar & Sons (TVS & Sons) Ltd.,
the holding company of the $6.5-billion TVS Group, announced plans to
convert itself into a private limited company from public company.
“The
board and the shareholders of TVS & Sons have approved this
proposal as the new Companies Act facilitates the same and this reflects
the shareholding structure of the company, that is, family-owned,” it
Saturday, March 21, 2015
Seminar at ICAI Panipat branch gets cancelled on account of rivalry between the two groups of members
Mr.Amarjit Chopra wrote
"For the first time I witnessed a seminar being cancelled on account of rivalry between the two groups of members at Panipat.Tents outside the Branch Office,heated exchanges amongst certain members was quite unbecoming of professional members.Everyone has a right to protest but there is a way to do the
"For the first time I witnessed a seminar being cancelled on account of rivalry between the two groups of members at Panipat.Tents outside the Branch Office,heated exchanges amongst certain members was quite unbecoming of professional members.Everyone has a right to protest but there is a way to do the
IT : Payment of interest at rate of 18 per cent to creditors on basis of resolutions passed by executive committee of assessee-society was found reasonable
IT
: Payment of interest at rate of 18 per cent to creditors on basis of
resolutions passed by executive committee of assessee-society was found
IT: In case of delay in granting refund, assessee would be entitled to compensation and interest can be awarded by way of compensation, but assessee would not be entitled to further compensation by way of interest on such interest, which is awarded as compensation
IT:
In case of delay in granting refund, assessee would be entitled to
compensation and interest can be awarded by way of compensation, but
Thursday, March 19, 2015
Vacancy for I.C.W.A. / C.A. / I.C.W.A. (Inter.) / C.A. (Inter.) in Hindustan Steelworks Construction Limited
Job Description: Finance Officer job vacancy at Hindustan Steelworks Construction Limited
Applications through online from Indian Nationals invited for various job vacancies advertised at Hindustan Steelworks Construction Limited a Government of India undertaking.
Candidates who wish to apply through online required to apply on or before 28.03.2015.
Candidates are advised not to send the hard copy of the online application to anywhere.
Refund of Service Tax - Amendment by notification 33/2008 to notification 41/2007 enhancing refund quantum to 10 per cent of FOB value of export goods is not retrospective - Appeal dismissed: CESTAT
ST - Refund of Service Tax -
Amendment by notification 33/2008 to notification 41/2007 enhancing
refund quantum to 10 per cent of FOB value of export goods is not
retrospective - Appeal dismissed: CESTAT
MUMBAI
: Sr. no. 15 inserted in the Schedule to notification 41/2007-ST by
amending notification
Income tax - Whether advance tax liability can be adjusted against cash lying in account of Revenue which was seized from assessee during search and seizure operation - YES, rules High Court
Income tax - Whether advance
tax liability can be adjusted against cash lying in account of Revenue
which was seized from assessee during search and seizure operation -
YES, rules High Court
ALLAHABAD
: THE issue before the Bench is - Whether advance tax liability can be
adjusted against the cash lying in the account of the Revenue which was
seized from the assessee during
RATE AND CESS ON SERVICE TAX: BUDGET IMPACT
The
charge of Service Tax under the Finance Act, 1994 as amended so far is
at the rate of 12 percent on the value of taxable services. This rate of
Service Tax is specified in section 66B of the Finance Act.
Presently the rate of 12 percent Service Tax is further subject to levy of education cesses as follows:
Sec. 54F: Original cap gain to be taxed in year of sale of new asset (investment) and not in year of its accrual
Sec. 54F: Original cap gain to be taxed in year of sale of new asset (investment) and not in year of its accrual
March 19, 2015[2015] 55 taxmann.com 187 (Karnataka)
IT:
Where investment was made by way of purchasing a plot to avail
Exemption under section 11 can be denied only to extent of investment contravening provisions of section 11(5) read with section 13(1)(d) and not on entire income
[2015] 55 taxmann.com 211 (Gujarat)
HIGH COURT OF GUJARAT
Commissioner of Income-tax
v.
Orpat Charitable Trust
Faster arbitration, commercial HC wings
Its
eye on global investment, the government plans to amend the Arbitration
Act and set up commercial branches in high courts to help settle such
disputes faster.
A bill to
amend the Arbitration Act, providing for settling disputes in nine
months, will be brought during the current session, Law Minister
Sadananda Gowda told the Lok Sabha on Wednesday. In the next session
will come a bill to enable commercial branches in high courts. The moves
are aimed at
Wednesday, March 18, 2015
Vacancy for CA/CS in PWC
| Requirement | Manager - DT Corporate tax - 4006/[2013] | ||
| Location | |||
| Openings | 1 | Experience | 6.00 to 9.00 years |
| Education | NA | ||
| Skills | good communication, excellent technical skills and overall should be a dynamic individual | ||
 |
|||
| Job Description |
Job Profile :
PwC's
multi-disciplinary tax teams help clients in Corporate Tax Advisory and
Tax & Regulatory Compliance. PwC's range of services include:
• Entry strategy from a tax and regulatory perspective | ||
Policy for Appointment of Statutory Branch Auditors from 2014-15 onwards
Policy for Appointment of Statutory Branch Auditors from 2014-15
onwards
I) Eligible Audit Firms
The List of eligible Audit firms will be provided by the Reserve Bank of
RBI Poised to Cut CRR Before April 7 Policy Meeting
RBI Poised to Cut CRR Before April 7 Policy Meeting: SBI’s Ghosh
(Bloomberg) -- Reduction in cash reserve ratio by the
central bank at this juncture will “have a profound impact on
transmission mechanism,” Soumya Kanti Ghosh, chief economic
(Bloomberg) -- Reduction in cash reserve ratio by the
central bank at this juncture will “have a profound impact on
transmission mechanism,” Soumya Kanti Ghosh, chief economic
GMCS Training Programs mere mechanical process and money spinners than knowledge facilitators
Articled
students are required to attend various GMCS programs during their
training. However there seems to be little in terms evidence to
indicate the efficacy of the programs and its impact. The issue has
implications both for the student as well as professionals who are
required to send them for
H-1B workers have minimal skills: Infosys whistleblower
H-1B workers replacing Americans have minimal skills and little or no business knowledge, a whistleblower from Indian IT giant Infosys has said and asked lawmakers not to increase the number of much sought-after visas and plug in the loopholes in the immigration system.
Jay B Palmer, whose visa fraud case against Infosys had led to a USD 34 million visa fraud
Jay B Palmer, whose visa fraud case against Infosys had led to a USD 34 million visa fraud
HC accepts cash method of accounting in respect of money retained by customers for fulfilment of warranty
HC accepts cash method of accounting in respect of money retained by customers for fulfilment of warranty
March 17, 2015[2015] 55 taxmann.com 158 (Gujarat)
IT : Where assessee was consistently following system of accounting of crediting MONEY
retained
by customers from sale proceeds as and when
retained
by customers from sale proceeds as and when
Important Verdict Of Supreme Court On Taxation of Charities And Non-Profit Organisations
Queens Educational Society vs. CIT (Supreme Court)
S.
10(23C)(v) & (vi): Mere surplus does not mean institution is
existing for making profit. The predominant object test must be applied.
The AO must verify the activities of the institution from year to year
The 13th proviso to Section 10(23C) is of great importance in that
assessing authorities must
Meaning of “Deposit” as per Co Act,2013 as DPT4 is to be filled as on 1.4.14, but not 31.3.14
Meaning
of “Deposit” as per Co Act,2013 as DPT4
is to be filled as on 1.4.14, but not 31.3.14
1) Deposit means “deposit” as per
companies act,2013
2) Had the legislature intended the
meaning of deposit as per Companies Act, 1956,
Investment Idea of the Week
| SCL entered into alliance with ACC in the year 2007. ACC participated into equity and nominated two directors on the Board. ACC also entered into marketing alliance with SCL. | |||
|
Vacancy for CA in Citi Bank
Job Description
DescriptionJob Description:
1) Ensure the team performs monthly activities on time.
2) Help the team in reviewing monthly deliverables. Build robust controls in the processes from
Vacancy for CA in JP Morgan
Job Description
CIB - Risk - Client Credit Manager - Assoc/VP - Sydney-150026754
Job Description
J.P.
Morgan’s Corporate & Investment Bank (CIB) is a global leader
across banking, markets and investor services. The world’s most
important corporations, governments and institutions entrust us
Expression of Interest from Chartered Accountant Cum Company Secretary/Chartered Accountant cum company secretary firm.
Madhya Pradesh Public Health Services Corporation
Last Date : Mar 20, 2015
Expression of Interest from Chartered Accountant Cum Company Secretary/Chartered Accountant
Last Date : Mar 20, 2015
Expression of Interest from Chartered Accountant Cum Company Secretary/Chartered Accountant
Express of Interests for Accounting service consultants, Financial consultants, Software solution for sufal hub/Staticoutlet / mobile outlet.
Government Of West Bengal
Last Date : Mar 20, 2015
Express of Interests for Accounting service consultants, Financial consultants, Software solution for sufal hub/Staticoutlet / mobile outlet.
Address: Shri Ranajit Sengupta Additional Project Director Project Management Unit SUFAL
Last Date : Mar 20, 2015
Express of Interests for Accounting service consultants, Financial consultants, Software solution for sufal hub/Staticoutlet / mobile outlet.
Address: Shri Ranajit Sengupta Additional Project Director Project Management Unit SUFAL
Expression of interest for internal audit & annual accounts preparation for the year 2014-15.
Bihar State Schedule Case Cooperation Development Corporation Limited
Last Date : Mar 20, 2015
Expression of interest for internal audit & annual accounts preparation for the year 2014-15.
Last Date : Mar 20, 2015
Expression of interest for internal audit & annual accounts preparation for the year 2014-15.
Expression of Interest for Empanelment of Chartered Accountant Firms for Statutory Audit
Bihar Education Project Council
Last Date : Mar 20, 2015
Expression of Interest for Empanelment of Chartered Accountant Firms for Statutory Audit.
Last Date : Mar 20, 2015
Expression of Interest for Empanelment of Chartered Accountant Firms for Statutory Audit.
Highlights of Maharashtra budget
Maharashtra finance minister Sudhir Mungantiwar present the state's first BJP budget on Wednesday in the state assembly.
Highlights of the budget:
* Maharashtra finance minister Sudhir Mungantiwar presents state budget in assembly
* Govt announces scrapping of Local body tax (LBT) from August 1, 2015
Monday, March 16, 2015
Vacancy for CA/ICWA in Titagarh Wagons Ltd
Job Description
Salary[Not Mentioned]
Functional AreaFinance / Accounts / Tax
IndustryIT - Software
Skillsc.a chartered accountant mba finance icwa france outstation foreign india willing to relocate cost accountant
Opening for Chartered Accountant/Cost Accountant/MBA Finance who will
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