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Friday, September 18, 2015

Did Chidambaram Own and Make Black Money From Vasan Eye Care?

ST - Carpentry work involving different types of furniture items, modular partitions, fixation of false ceiling, painting of walls and ceilings cannot be classified under Interior decorator services: CESTAT

ST - Carpentry work involving different types of furniture items, modular partitions, fixation of false ceiling, painting of walls and ceilings cannot be classified under Interior decorator services: CESTAT 

MUMBAI : REVENUE alleges that during the period 1999-2003 the appellant undertook various activities like carpentry work involving different types of furniture items, modular partitions, fixation

ICAI issues guidance note on internal financial controls

No denial of registration to trust just because its incidental activities were profitable in nature

No denial of registration to trust just because its incidental activities were profitable in nature

September 17, 2015[2015] 61 taxmann.com 59 (Hyderabad - Trib.)/[2015] 38 ITR(T) 195 (Hyderabad - Trib.)
IT : Where assessee's primary purpose remained advancement of objects of

The sub-Rs 4 lakh SUV-like Renault Kwid: 5 things that make it a worthy contender

Monday, September 14, 2015

Vacancy for Industrial Trainee in HDFC life

Job Description
Designation: Industrial Trainee - Internal Audit



Qualification: Pursuing C.A



Experience:

  • Candidates with IPCC both groups cleared.
  • Candidates with 2 years of Articleship experience in a CA firm.
  • Candidates completed with their 3 years Articleship training will not be eligible for this role.

Ola raises $225 million from Falcon Edge Capital, existing investors

Mumbai: Ola, India’s third most valuable Internet company, has raised around $225 million (Rs.1,478 crore) as part of a new funding round that could see the firm raise over $500 million, and is expected to be closed shortly.
The latest funding is led by existing investor Falcon Edge Capital. The New York-based hedge fund

Attrition rate soars at start-ups

Mumbai: The employee turnover rate across e-commerce and technology start-ups has soared to nearly double that of mature companies as employees switch jobs in search of even more generous pay packages and stock options.
An average of more than 30% of employees in mid-level positions at tech start-ups and e-commerce

Wall St. lower amid weak Chinese data; Fed meet eyed

CHECKLIST FOR EVERY COMPANY under Companies Act 2013



CHECKLIST FOR EVERY COMPANY
S. No.
Section
Subject Matter
Remarks
1.
168
Vacation of Office
Check Whether every Director attended in physical at least one Board Meeting with in period of 12 Month.
If any director fails to attend A Board Meeting within period of 12 Month then he will be considered as vacant.

Empanelment of Chartered Accountants / Cost Accountants for Forensic Audit.State Bank Of Bikaner And Jaipur

State Bank Of Bikaner And Jaipur
Last Date : Sep 15, 2015
Empanelment of Chartered Accountants / Cost Accountants for Forensic Audit.

Appointment of Tax Auditor for AY 2015-16 (FY 2014-15)Oil India Limited

Oil India Limited
Last Date : Sep 15, 2015
Appointment of Tax Auditor for AY 2015-16 (FY 2014-15) with a provision for extension by another

DETAILED PROCEDURES/INSTRUCTIONS FOR FILING OF ONLINE FORM DELHI SUGAM-2 (DS2) CIRCULAR NO.25 OF 2015-16 [NO.F.7(433)/POLICY-II/VAT/2012/PF/714-721], DATED 10-9-2015

Department of Trade and Taxes, Government of National Capital Territory of Delhi has vide notification dated 10-9-2015 notified an online Form Delhi Sugam-2 (in short DS2) for

Submit Job vacancies on CA News Beta site for free

Welcome! Now Submit Job vacancies on CA News Beta site for free and get noticed by millions of job seekers daily. The job vacancies will be published within 24 hours of submission.

To Submit job vacancies click here

Accountancy giant Deloitte has been hit with a "severe reprimand" and a €41,000 penalty by the Chartered Accountants Regulatory Board (CARB).

It is the first major disciplinary finding against one of the 'big four' accountancy firms - PwC, Deloitte, EY and KPMG - since CARB was established in 2007.
In a finding published on CARB's website, the regulator says Deloitte "failed to demonstrate the adequacy and sufficiency of the audit work performed to support its audit opinion and is accordingly

Documents of Churchill’s assets worth crores seized from tax consultant’s office

Vasco: Crime Branch police probing Louis Berger bribery case on Saturday attached documents of assets worth crores of rupees reportedly belonging to Churchill Alemao and his family members during the raid on Churchill’s tax consultant’s office at Vasco.
Interestingly none of these documents were available when the police had raided Churchill’s home

Satyam scam: SEBI asks 10 entities to return ₹1,800 cr

 
SEBI has served on 10 entities linked to the Satyam scam — one of the biggest corporate frauds in India — a disgorgement order of ₹1,800 crore for making illegal gains from insider trading.
In addition, they will have to pay a penalty of nearly ₹1,500 crore as interest. The individuals named

Clarifications on some commonly asked queries pertaining to elected representatives of ICAI and the general members of ICAI - (29-08-2015)

Lenders order special audit of Amtek books


to group have decided to go for a of the books of various group companies before providing fresh loans to help it repay Rs 800 crore of bonds coming up for redemption on September 20.

While details of the action plan would differ from case to case, lenders would also ask the promoters

A special audit conducted in select central government departments by the Finance Ministry has found “serious financial irregularities”

New Delhi, Sep 13 (PTI) A special audit conducted in select central government departments by the Finance Ministry has found “serious financial irregularities” following which the Controller General of Accounts has called for strict adherence to approved guidelines.
A fresh set of instructions has been issued to all Principals or Chief Controller of Accounts (PCCAs or CCAs) to adhere to prescribed standards of financial propriety.”
The special audits recently conducted in select ministries or departments have observed serious

PwC India finally brings the curtain down on Satyam

Deepak Kapoor, chairman of PricewaterhouseCoopers India, can now put the past behind him. The intensive oversight by an independent monitor that PwC India's accounting practices had to submit to after it got embroiled in the scandal has finally been withdrawn.

In 2011, the and in its investigation found the India unit of the auditor in violation of the quality control standards. It said PW India, which looks after PwC India's accounting business, failed to conduct

Audit, advisory firm Singhi & CO joins Moore Stephens Network

Incorporation of Private Limited Company under Companies Act 2013


Features of Private Limited Company

Separate Legal Status
Capacity to borrow
Easy Transfer of shares
Minimum number of Members : 2 ; Maximum number of Members : 200

XBRL - An Overview

XBRL - An Overview
What is XBRL
eXtensible Business Reporting Language (XBRL)
A more advanced form of XML. (XML reporting is already being used by the Income-tax

CONSTITUTION OF A COMMITTEE TO STUDY FEASIBILITY OF RECOMMENDATIONS OF TARC IN RESPECT OF GROUP ASSESSMENT AND SYSTEM OF PEER REVIEW BEFORE ASSESSMENT OFFICE MEMORANDUM [F.NO.225/246/2014/ITA.II], DATED 10-9-2015

Board has constituted a Committee for examining feasibility of recommendations of Tax Administration Reform Commission ('TARC') in respect of group assessment in 'other cases' and peer review before assessment.
2. The composition of the Committee is as follows:

Procedure for Registering Section 8 Company

Introduction

Section 8 Company is a Company licensed under Section 8 of the Companies Act, 2013 (the Act), erstwhile known as Section 25 Company under the Companies Act, 1956, which has main object;

For promoting commerce, art, science, sports, education, research, social welfare, religion, charity,

Sunday, September 13, 2015

MCA Notification-Amendment to Schedule-III Balancesheet


GSR .- (E) In exercise of the powers conferred by sub-section (1) of section 467 of the
Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following
further alterations in Schedule III (hereinafter referred to as said Schedule) to the said Act,
namely:-
1. In the said Schedule, in Part I- Balance Sheet,-

Vacancy for CA Inter in Aditya Birla Group

Job Description 

Requisition Title

:Asst. Manager - Finance & Commercial-PFIC 

Job Number:

:150105XD 

Schedule

:Full-time 

Primary Location

:India-Maharashtra-Mumbai 

Organization

:Research &Develpmnt Pulp&Fibre 
Introduction about the Business
A US $40 billion corporation the Aditya Birla Group is in the League of Fortune 500. It is anchored

Expression of Interest from Chartered/Cost Accountant firms for appointment as Internal Auditors of BSNL for the Financial Years 2015-16 to 2017-18

BHARAT SANCHAR NIGAM LIMITED
Last Date : Sep 14, 2015
Expression of Interest from Chartered/Cost Accountant firms for appointment as Internal Auditors of

Practicing Chartered Accountants / Firms for ETDS related work of ITPO, office up to 31/03/2017

India Trade Promotion Organisation
Last Date : Sep 14, 2015
Practicing Chartered Accountants / Firms for ETDS related work of ITPO, office up to 31/03/2017.

What are due date of filing income tax returns for AY 2015-2016 for various assessees ? Daily Quiz (14/09/2015) win free talk time worth Rs.500 for correct reply

The participant who gives the first correct reply shall be included in the list of top participants. The participant topping the list with highest number of correct replies during the month will receive free talk time worth Rs.500 as award at the end of the month.


To reply login to comment section below this post and leave your reply

To view the list of top participants during the month click here


Terms and Conditions:

Government gives Approval to Cost Auditing Standards

Government of India, Ministry of Corporate Affairs, vide their letter no. 52/33/CAB/2013 dated 10th September, 2015 has, under section 148(3) of the Companies Act, 2013, granted Central Government’s approval to the following Cost Auditing Standards:

1. Cost Auditing Standard-101 on Planning an audit of Cost Statements;

Can excessive use of Wi-Fi, gadgets, trigger headaches, allergies?


Should you worry about 'wireless allergies'?
Addressed with skepticism by most, the term electromagnetic hypersensitivity (EHS) or wireless allergy or gadget allergy, is ascribed to a range of non-specific symptoms like headache and fatigue apparently due to heavy use of wireless communicating devices, especially those that emit

Friday, September 11, 2015

Writ Petition - Extension of due date of TAR for AY 2015-2016

CA Avinash Gupta and Tax Research Foundation, Delhi has filed a Writ petition in Delhi High Court on 10.09.2015, seeking Extension of due date of Tax Audit Report required to be filed Under Section 44AB of the Income Tax Act,1961 for Assessment Year 2015-16.
Writ details are as follows :- Avinash Gupta and Ors V/s Union of India and Ors  (Delhi High Court) ,  WP(C.) of 8771 of 2015.
Writ is likely to be listed in Court Room No. 09 on coming Monday i.e. on 14th day of September, 2015.
It is to be noted that last year too many Chartered Accountants & Tax Association has filed

Belated payment of employee's PF contribution is disallowable even if paid before due of filing return

Belated payment of employee's PF contribution is disallowable even if paid before due of filing return

What are changes in Director's Report as per Companies Act 2013? Daily Quiz (12/09/2015) win free talk time worth Rs.500 for correct reply

The participant who gives the first correct reply shall be included in the list of top participants. The participant topping the list with highest number of correct replies during the month will receive free talk time worth Rs.500 as award at the end of the month.


To reply login to comment section below this post and leave your reply

To view the list of top participants during the month click here


Terms and Conditions:

List of Top participants in daily quiz during the month

Following is the List of Top participants in daily quiz during the month:

Want to claim top position by start replying correctly to today's quiz

Expression of Interest from Chartered/Cost Accountant firms for appointment as Internal Auditors of BSNL for the Financial Years 2015-16 to 2017-18

BHARAT SANCHAR NIGAM LIMITED
Last Date : Sep 14, 2015
Expression of Interest from Chartered/Cost Accountant firms for appointment as Internal Auditors of

BDO to Pay $2.1Million Over Deficient Audits

BDO has agreed to pay $2.1 million to settle charges that it improperly signed off on the financial statements of an employment staffing company that was implicated in a fraud scheme.
The U.S. Securities and Exchange Commission filed the charges in an administrative order Wednesday, alleging BDO approved statements included in General Employment Enterprises’ 2009

Big4 Audit Fee Indian research

EXPORT PROMOTION CAPITAL GOODS (EPCG) SCHEME UNDER NEW FOREIGN TRADE POLICY

Chapter 5 of the Foreign Trade Policy 2015-2020 deals with the EPCG scheme.  The objective of this scheme is to facilitate import of capital goods for producing quality goods and services to enhance India’s export competitiveness.

Capital goods

The following are the capital goods for the purpose of this scheme:

Required CA/CS/CMA for business house in Jalandhar

Required CA/CS/CMA for business house in Jalandhar.
 
Contact:

Wednesday, September 9, 2015

No Extension of Date for Filing of Returns due by 30th September for Assessment Year 2015-16

Press Information Bureau Government of India Ministry of Finance 09-September-2015 13:35 IST No Extension of Date for Filing of Returns due by 30th September for Assessment Year 2015-16 for Certain Categories of Assessees Including Companies, and Firms and, Individuals Engaged in Proprietary Business/Profession etc whose Accounts are required to be Audited; Taxpayers are Advised to file their

SEBI has notified SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations)

SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (Listing Regulations)
SEBI has notified SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015 (Listing Regulations) on September 2, 2015, after following the consultation process.
A time period of ninety days has been given for implementing the Regulations. However,

Love Letter written by a Chartered Accountant

In the Journal of my Heart,
I have written a journal entry,
Debiting my love and crediting my affection,
Now partner, you write the narration.

Your beauty is the capital of our business,
and your eyes are stock in trade,
Now let us enter into a transaction,

Jobs for Company Secretary (CS) at Fortis Healthcare

Jobs for Company Secretary (CS) at Fortis Healthcare: Fortis Healthcare Limited is committed to clinical excellence and patient-centric healthcare, which is manifest in hospital design, patient services, medical programmes and the compassionate approach of medical and non-medical hospital staff. Fortis

These are the 59 nations which Indians can travel without any visa or visa on arrival

These are the 59 nations which Indians can travel without any visa or visa on arrival.
  1. Bhutan
  2. Hong Kong
  3. India
  4. South Korea (Jeju)
  5. Macau

REQUIRED ASSOCIATES/ NETWORK PARTNERS IN ALL CITIES

We have been appointed to carry out Physical Verification and process audit to be carry out throughout the year by semi qualified assistant or articles in all cities of Andhra Pradesh & Telangana. Interested firm which are having local set up in those states can send their profile on

National Conference on GST @ 2016

ASSOCHAM
Series of National Conference on

GST @ 2016: Issues & Solutions

The Government of India under the leadership of the Hon’ble Prime Minister Shri Narendra Modi Ji is all set to implement the GST in India and has indicated April 1, 2016 as target date for GST launch. Recently the Rajya Sabha Select Committee has also submitted its report to the parliament and the stage has been set for the implementation of the most important reform of Indirect Taxation in India.

Inspired by the report of the Select Committee, ASSOCHAM the most pro-active chamber of commerce has decided to organize a series of National Conferences on GST in the month of

ST - No sum can be collected from assessee if it is not as per law, as has been provided under Article 265 of Constitution - Amount of tax credited to exchequer on which admittedly no ST is leviable takes nature of deposit and Commr(A) is in error in refusing refund of same: CESTAT



MUMBAI : THE appellant entered into contract with the provider of service, namely Maersk Line - for export of goods, which comprised services at Port of Load, place of receipt, port of discharge, place of delivery etc. The port of loading is located in India and port of discharge and place of delivery is located

If the ICAI wants fair election, why there is not a complete ban on seminars etc during the election period

The norms are absolutely casual. One Master Shahab also known as tax guru or Income-tax encyclopedia now will start his magic show, on each and every he will try to reach and in seminars, than he will carefully speak too much about his own candidate. His slogan is he is gentleman and is doing very-well.

I was also council member and also contesting the election being sitting council member but never employed

Tuesday, September 8, 2015

Chartered Accountant firm required for Accounting Services of IIM

Indian Institute Of Management
Last Date : Sep 09, 2015
Provide of Chartered Accountant firm for Accounting Services.

Address: Indian Institute of Management Udaipur, Polymer Science Building, Mohanlal Sukhadiya

Expression of Interest for Appointment of Auditors of Food Corporation Of India

Food Corporation Of India
Last Date : Sep 09, 2015
Expression of Interest for Appointment of Auditors.

ITAT accedes to ICAI's plea in Miscellaneous Application to modify/review its order wherein the Tribunal had strongly criticized the Institute's functioning

ITAT accedes to ICAI's plea in Miscellaneous Application to modify/review its order wherein the Tribunal had strongly criticized the Institute's functioning;  Tribunal accepts ICAI's argument that that its observations in the original order about the CA profession and conduct of the students pursuing the CA

Guidelines for Compounding of Offences under Income Tax Act, 1961/Wealth tax Act, 1957 in cases of persons holding undisclosed foreign bank accounts/assets

F.No. 285/90/2013 IT(Inv.V)
Government of India
Ministry of Finance
Department of Revenue
(Central Board of Direct Taxes)
*****
E-2, ARA Centre, ihandewalanExtn.,
New Delhi-110055.
Dated: 04th September, 2015
To
All Pr.CCsIT/CCsIT/Pr.DOsIT/DGsIT
Sir/Madam,
Subject: Guidelines for Compounding of Offences under Income Tax Act, 1961/Wealth tax Act, 1957 in

Vacancy for articleship

we have vacancy for article in my office and one vagrancy for  newly qualified ca for my client office is there. interested fellow may please send their resume to undersigned

list of important points to remember while calculating Depreciation as per Companies Act, 2013

Here is a list of important points to remember while calculating Depreciation as per Companies Act, 2013:

1⃣ Schedule II of the Companies Act, 2013 for calculating depreciation is applicable only on tangible assets. For calculating amortisation on intangible

Monday, September 7, 2015

Vacancy for CA/CS in PWC

Requirement Assistant Manager - Merger & Acquisitions - 6068/[2014]
Location
Openings 2 Experience 2.00 to 5.00 years
Education NA
Skills Experienced in tax, M&A Tax preferred
Job Description

Job Profile :
PwC’s M&A Tax & Regulatory practice provides end-to-end solutions for different types of domestic and cross-border transactions including mergers, demergers, acquisitions, divestitures, joint ventures, corporate restructuring, inbound and outbound advisory, transaction and business model structuring, due diligence and family arrangements. The services consider a host of legislations and regulations including direct tax, indirect tax, stamp duty, corporate laws, exchange control regulations, accounting standards, etc.

The tasks, roles and responsibilities concerned with the job will include the following:

Dual Screen Lunark Smartphone Concept

The ‘lunark’ concept by Allan Ospina was developed to empower people to multitask simply and to help users maximize their productivity by enhancing the interface experience using two separate screens linked together with a special hinge that allow them to connect seamlessly. Apps will compatible with the bi-fold screen. It also features longer battery life and would allow apps that get interrupted by a phone call go to idle on the screen avoiding the need to press the home button.

Read more »

Tender invited from chartered accountant firm / individual for concurrent audit work.

District Co.operative Central Bank Limited
Last Date : Sep 08, 2015
Tender invited from chartered accountant firm / individual for concurrent audit work.

THE WHISTLE BLOWERS PROTECTION ACT, 2011 – AN OVERVIEW – PART I

Introduction

A ‘whistle blower’ is a person who exposes any kind of information or activity that is deemed illegal, dishonest, or not correct within an organization that is either private or public.  The information of alleged wrongdoing can be classified in many ways: violation of company policy/rules, law, regulation, or threat to public interest/national security, as well as fraud, and corruption. Those who become whistleblowers can

ST - When allegation in SCN is of undervaluation and demand of differential tax liability and question of re-classification was never charged, both lower authorities have misdirected their findings to classify services under Advertising agency: CESTAT


MUMBAI : THE issue is regarding the service tax liability on the appellant in providing the activity of painting, pasting, displaying and/or maintaining the same on side-panel of buses on behalf of the client namely M/s. LIC and M/s. New India Insurance Co. Ltd.

The appellant had charged an amount as "display charges" from their clients but did not discharge the service tax liability under the category of "Advertising Agency" service.

The demands were confirmed along with imposition of penalties besides demanding interest.

Before the Tribunal, the appellant submitted that the services rendered by them would not fall under the category of "Advertising agency" but under "Sale of Space or Time for Advertisement" and is taxable from 01.05.2006 whereas the demand in the case in hand is from April 2003 to March 2008. Reliance is placed on the decision in Dhanshree Publicity - 2007-TIOL-1983-CESTAT-DEL to emphasise that the painting activity undertaken by a sole proprietor will not amount to advertising agency services. Furthermore, it is informed that appellant on his own from 01.05.2006 has discharged the service tax liability under the category of "Sale of Space or Time for Advertisement".

The AR submitted that the appellant had got registered under the category of "advertising agency" services and discharged their tax liability but now were claiming reclassification of the services and that the SCN only sought to recover differential tax on the charge of under-valuation.

The Bench observed -

SC dismisses Revenue’s appeal, upholds Bombay HC’s judgment quashing order passed by the appropriate authority u/s 269UD(1) (providing for pre-emptive purchase of immovable property by Govt in case of significant undervaluation of property with a view to evade tax

SC dismisses Revenue’s appeal, upholds Bombay HC’s judgment quashing order passed by the appropriate authority u/s 269UD(1) (providing for pre-emptive purchase of immovable property by Govt in case of significant undervaluation of property with a view to evade tax); In respect of assessee’s

Sunday, September 6, 2015

Engagement of CA / CMA firms for annual accounts preparation work.

West Bengal Essential Commodities Supply Corporation Limited
Last Date : Sep 07, 2015
Engagement of CA / CMA firms for annual accounts preparation work.

Chartered Accountant Firms For Statutory Audit Of Idco For The Financial Year2014-15.

Industrial Development Corporation Orissa Limited
Last Date : Sep 07, 2015
Chartered Accountant Firms For Statutory Audit Of Idco For The Financial Year2014-15.

Selection of chartered accountant firm for horticulture mission & water management.

Department Of Horticulture And Food Processing
Last Date : Sep 07, 2015
Selection of chartered accountant firm for horticulture mission & water management.

Vacancy for CA in Ultratech

Job Description 

Requisition Title

:DH -Accounts (AGM/DGM/GM) 

Job Number:

:150105WC 

Schedule

:Full-time 

Primary Location

:India-Gujarat-Bhuj 

Organization

:Sewagram Cement Works 
Introduction about the Business
A US $40 billion corporation the Aditya Birla Group is in the League of Fortune 500. It is anchored by an extraordinary force of over 136000 employees belonging to 42 different nationalities. The Group operates in

1% Additional Levy under GST: Where is it heading us?

Introduction:-

Goods and Service Tax (GST) has been a topic of debate in the recent past. With the NDA government looking firm to bring in the GST, the members of Rajya Sabha still have a number of objections to raise, and for their very reasons. Finance Minister Arun Jaitley has been strongly contending that the implementation of

Extension of due date of filing return of wealth for A.Y. 2015-16

Deputy Secretary 02-JUL-2004 23:41 From: F.No.328/08/20 5-WT Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes(CBDT) New Delhi, dated the 3 111 September, 2015 To All Pr. Chief Commissioners of Income-tax Subject: Extension of due date of filing

Impact under GST on Job work transactions


Goods and Service Tax (GST) upcoming in India is likely to result in widening the tax base substantially by covering large number of potential taxpayers who are hitherto not covered in the tax net either due to their activity not being in the nature of taxable or due to some exemption being claimed. It is talked that the present assessee base on Central side itself is expected to rise to approximately 60 lacs assessees from

Solar Paper - World's Thinnest and Lightest Solar Charger

Solar Paper by Yolk is the world's thinnest and lightest solar charger made with most efficient solar panel. They are offering 5 watt, 7.5 watt and 10 watt chargers, with 2, 3 or 4 panels, respectively. In bright sunlight, the 5 watt charger can fully charge an iPhone 6 in about 2.5 hours, which is similar to a wall charger. For more powerful devices like tablets or cameras, or for faster charging, you’ll want to opt for one of the higher-wattage versions. 
Read more »

Friday, September 4, 2015

CBDT- Highlights of 27 FAQs on Black-money law amnesty scheme and download circular

Highlights:


If a public limited company makes a declaration then Directors of the company will not get immunity against offence punishable under SEBI Act or under IPC.

In case of an e-wallet or virtual card account online which is normally maintained for playing online

A Heart Touching Letter From A Non CA to CA Community

“You can love it, you can hate, but you definitely can’t ignore it”, it is a cliché put to apt use for the CA course.
I never had any inclination towards it (coz of me being a genius with numbers and all). I know it’s not rocket science, but then it does look like it, to people like me. The sleepless nights, the social cut-off, the angst and agony of completing a mammoth syllabus in a limited period, all this and what

Competition Act : Exemption from the applicability of Competition Act granted by the Central Govt.

Competition Act : Exemption from the applicability of Competition Act granted by the Central Govt. u/s 54(a) of the Act cannot be denied to appellants on the ground that market purchases of Equity shares of

UP VAT Additional Tax changed w.e.f. 4/9/15

IMG-20150903-WA0124.jpg

Over 29 lakh tax returns verified by OTP-based ITR filing system

POWERS OF INCOME TAX APPELLATE TRIBUNAL


Section 253 of the Income Tax Act, 1961 provides for filing appeal against the order of lower authorities before the Income Tax Appellate Tribunal.  Section 254 provides for the issue of orders by the Appellate Tribunal.  The Income Tax (Appellate Tribunal) Rulings, 1963 gives the procedure to

Acceptance of cash from wife can't be construed as a loan or advance under sec. 269SS, doesn't attract penalty

September 4, 2015[2015] 60 taxmann.com 407 (Delhi - Trib.)/[2015] 38 ITR(T) 247 (Delhi - Trib.)/[2015] 168 TTJ 561 (Delhi - Trib.)
IT : Where there was no monetary transaction between assessee and creditor, rather by mere journal entry liability was created, it could not be said that loan or deposit accepted by assessee from creditor was in

Thursday, September 3, 2015

ICAI forms 'prima facie' view on NSEL auditor

The Institute of Chartered Accountants of India (ICAI) has formed a ‘prima facie’ opinion in the complaint against the auditor of National Spot Exchange (NSEL) at the time of the latter’s payments scam.

The institute said in a reply to a query under the Right to Information law) that its director (discipline) had formed the view and this had been sent to the (internal) ‘competent authority’. The decision of the latter

Free E-Book on GST by ICAI

Free E-Book on GST by ICAI updated upto Mar' 15 available on the

Required A company Secretary


One of our clients need a Company secretary with  following additional attributes :

Experience : Fresh to 2 years
Excellent communication skills. Good command over English/Punjabi and Hindi.
Knowledge of general business laws, should be capable of drafting legal documents like agreements etc.
Should have good typing speed of more 40 words per minute.

Designation:

Business development and compliance officer

Profile:

Would be involved in new business initiatives and their legal compliances.
Corresponding with all the interested external parties and internal employees of the organisation.
Establishing systems and procedure for new business operations.

Heart touching story of a begger and a shopkeeper


FEATURES OF GST (Vol.1)

1. GST would be applicable on supply of goods or services as against the present concept of tax on the manufacture of goods or on sale of goods or on provision of services.
2. GST would be a destination based tax as against the present concept of origin based tax.
3. It would be a dual GST with the Centre and the States simultaneously levying it on a common

CA Final SFM Revisionary questions

Wednesday, September 2, 2015

Securities and Exchange Board of India (SEBI) Recruitment 2015 – 46 Vacancy - CA, ICWA

Securities and Exchange Board of India (SEBI) has issued a recruitment notification for the recruitment of Officer Grade A through recruitment notification . Candidates who have completed MBA, CA, LLB, LLM, ICWA can apply for the new recruitment notification from Securities and

Govt. extends last date for filing tax returns till Sept. 7 for all

A short film on CA student


ICAI : 10 Suggestions by ICAI President for CA Students


ICAI President conducted a Google Hangout for CA Students on 9th Jan in which he answered queries of CA Students. He also gave some very useful suggestions for CA Students { ICAI } which

CA Final Financial Reporting Mock Test Papers with Solution

How to Prepare for CA Final exams

A complete guide on how you should prepare and strategies every subject of CA Final for upcoming Nov 2015 attempt.
Since the CA Final exams are knocking on the door, every examinee must be well prepared for this much awaited period. It is the time to buck up and put in all their strengths to earn the degree. Here is

8 Habits To Become a Successful CA

A man is a result of his thoughts, which finally converts into habit. Everybody wants to be successful but success can't be achieved overnight. We can't improve you in few days or month,

MCA extends cost audit report filing date to 30th sep

RECEIVER CANNOT AVAIL THE BENEFIT OF THRESHOLD EXEMPTION SCHEME

Threshold Exemption Scheme

A threshold exemption scheme was introduced in Union Budget 2005-06 (effective from 1.4.2005) exempting from service tax aggregate value of taxable services not exceeding four lakh rupees received by the service provider during a financial year. A point has been raised whether payments

Arbitration 2015-Weapon Reloaded

“When will mankind be convinced and agree to settle their difficulties by arbitration?” Benjamin Franklin.

Historically, arbitration was successfully used by the ancient Greeks and the Vikings to solve interstate and intrastate conflicts. In more recent history, arbitration played an important role in solving international border disputes. Currently, negotiation and mediation are the widespread

Tuesday, September 1, 2015

EOI for conducting internal audit of BSNL

SCOPE OF EXEMPTED SERVICES FOR CENVAT CREDIT

Exempted Services [Rule 2(e)]

Exempted services would include only services (not goods) which are taxable services but are exempt from the whole of service tax leviable thereon (such as services for which payment is received in foreign exchange or services rendered to Diplomatic Missions etc.). Exempted services will also

Cabinet approves arbitration law amendments for expeditious case disposal, cost-effective arbitration

Union Cabinet approves amendments to arbitration law, with an aim to ensure neutrality of arbitrators, expeditious disposal of cases, making arbitration more user friendly & cost effective; Amendments include disqualification of arbitrator if he has any relationship or interest in the matter, insertion of a provision for fast track procedure for conducting arbitration; Also includes

Measures taken by CBEC to improve ease of doing business in India

Malware causes largest known Apple account theft affecting 2,25,000 iOS users

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