PROCEDURE FOR ONLINE SUBMISSION OF STATEMENT OF DEDUCTION OF TAX - REG. SECTION 200

NOTIFICATION NO 11/2016, DATED: 22-06-2016

Jun 22, 2016

PROCEDURE FOR ONLINE SUBMISSION OF STATEMENT OF DEDUCTION OF TAX - REG.

SECTION 200

Procedure for online submission of statement of deduction of tax under sub-section (3) of section 200 and statement of collection of tax under proviso to sub-section (3) of section 206C of the Income-tax Act, 1961 read with rule 31A(5) and rule 31AA(5) of the Income-tax Rules, 1962 respectively

The provisions relating to the statement of deduction of tax under sub-section (3) of section 200 and the statement of collection of tax under proviso to sub-section (3) of section 206C of the Income-tax Act, 1961 (the Act) are prescribed under Rule 31A and Rule 31M of the Income-tax Rules, 1962 (the Rules) respectively. As per sub-rule (5) of rule 31A and sub- rule (5) of rule 31M of

Vacancy for CA in Srei Infrastructure Finance Ltd

Business Unit : Srei Infrastructure Finance Ltd
Department : Internal Audit
Designation : Assistant Manager
Location : Kolkata
Reporting Relationship : Sr VP
Purpose of the Role : Execute Internal Audits

Roles and Responsibilities :

Roles & Responsibilities : • Undertaking internal audits as per annual plan & scope. • Undertaking

No TCS if cash receipts don’t exceed Rs 2 lakhs even if consideration exceeds Rs 2 lakhs: CBDT

TCS is to be collected by the seller from the buyer on sale of specified category of goods at rates in force. Initially, only specified items (such as alcoholic liquor for human consumption, tendu leaves, scrap, mineral being coal or lignite or iron ore, etc.) were within the TCS net. Subsequently, the

Vacancy for CA Inter in Accenture

Job description

P2P Analysts are the process owners for Accounts Payable and Travel and Entertainment operations/ processes of Accentures global clients. He/she is part of large scale operations and support team leads and managers in handling large teams by establishing a structured review mechanism and drive the

SERVICE TAX EXEMPTION TO PACKAGED / CUSTOMIZED SOFTWARE

Article

Presently, software in India is subject to levy of multiple taxes in the form of Central Excise, Customs duty, Service Tax and Value added tax (VAT) as follows –

Vacancy for CA in PWC

Requirement

	Assistant Manager - Direct Tax - IAS - 7842/[2015]
Location
Openings	1	Experience	2.00 to 3.00 years
Education	NA
Skills	Excellent written and verbal communication skills, strong in technicals, good client and team management skills
Job Description	Qualification : CA Expeerience: 2 to 3 years of post qualification relevant experience in handling expat tax matters. Roles & Responsibilities:

Welcome to the world after Brexit: Here's what happens next

http://www.moneycontrol.com/news/world-news/welcome-toworld-after-brexit-hereshappens-next_6922341.html

Vacancy for ( CA / ICWA )

Job Description

Sound knowledge of accounting standards,

Ensure correct, timely and proper accounting of Invoices and GRNs

Advisory for Members & Students of ICAI in respect of a fake website

Kind Attention: All Members, Students of the Institute of Chartered Accountants of India (ICAI) and Public at Large

This is to inform to all Members and Students of ICAI and public at large that a website namely, icai-org.in and icairesults.info, has been created, which is deceptively similar to the official website of the Institute (i.e., www.icai.org). A perusal of the contents of the said website shows that its design and look resembles so nearly with the design and look of the official web site of ‘The Institute of Chartered Accountants of India’ and that there is every likelihood of the same causing confusion in the minds of the members and students of the Institute of Chartered Accountants of India in particular and public at large in general. Further, the contents of the said website are misleading and create a false impression that it is somehow associated/ affiliated with ICAI.

It is made clear that the information on the said website has been posted / circulated without the knowledge and authority of the Institute of Chartered Accountants of India and you are advised not to be misled and confused by it. Further, ICAI is seized of the matter and an appropriate action has been

Vacancy for CA in J P Morgan chase

Job Description - CIB - Operations Manager - Vice President - Mumbai (160065202)

Job Description 

CIB - Operations Manager - Vice President - Mumbai-160065202 Job Description   About J.P. Morgan Corporate & Investment Bank J.P. Morgan's Corporate & Investment Bank (CIB) is a global leader across banking, markets and

Brexit Decodified

The question of how Brexit would affect the UK economy is one of the crucial issues in the campaign ahead of Thursday’s historic EU referendum.

But millions of words on the topic — including economists’ majority view that leaving the bloc would slow the country’s growth and the Leave campaign’s counterarguments that Britain would

EU audit reform to open up £10bn market for firms

NEW EU audit reforms are expected to trigger a wave of contracts changing hands, which could open up a £10bn market for advisers.
The regulations, which come into force today, force large companies to tender their statutory audit at least every ten years, and change their auditor every 20 years
The EU directive places strict limitations on the non-audit services that a group’s audit firm can

Required female CA

Required female CA having practical experience of accounting, sales tax, tds, service tax return, audit and related matters.

Mail resume to :

Vacancy for CA in Ultratech

Job Description 

Requisition Title

:SH MIS Vashi MH 

Job Number:

:160104IB 

CENVAT Credit of Service Tax on insurance premium for health insurance of factory employees is admissible even after amendment to Rule 2(l): CESTAT

CHENNAI: THE issue involved in the appeal is whether the appellant is eligible for CENVAT Credit of Service Tax paid on health insurance of the employees of the factory. It is the contention of the appellant that the insurance premium having been paid for the health insurance of the employees of

The Canara Bank invites application for empanelment as concurrent audits

The Canara Bank invites application for empanelment as concurrent audits. For detailed information and online application please click on:

Vacancy for CA in JPMorgan Chase

Job Description 

Sr. Analyst — Global Finance India-160015711

Job Description

JPMorgan Chase is a leading global financial services firm with assets of $2.4 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management, and

Vacancy for CA Inter in Vodafone

Job Description 

Assistant Manager - Finance & Admin - VOD0009IU

to handle the finance and accounts function for VGSPL

•             Financial accounting for Assets, Liabilities, Revenue and Expenditure for the entity.

o             Complete alignment to SSC processes viz., P2P, T&E,TCM, L2D and R2R

This communication to RBI staffers indicates exit of Raghuram Rajan

Dear Colleagues,

I took office in September 2013 as the 23rd Governor of the Reserve Bank of India. At that time, the currency was plunging daily, inflation was high, and growth was weak. India was then deemed one of the “Fragile Five”. In my opening statement as Governor, I laid out an agenda for action that I had discussed with you, including a new monetary framework that focused on bringing inflation down,

Bank can recover loan dues from debtor’s SB account: Madras High Court

If a debtor failed to settle the loan dues despite reminders from the bank, then the money could be recovered from his savings bank account, ruled the Madras High Court bench here today. (PTI)

If a debtor failed to settle the loan dues despite reminders from the bank, then the money could be recovered from his savings bank account, ruled the Madras High Court bench here today.
Justice M Venugopal dismissed a writ petition filed by a retired Tamil Nadu Electricity Board employee, who sought to restrain a nationalised bank from recovering the farm loan dues from his

Vacancy for CA in Delhi Aviation Fuel Facility Private Limited

Job Description

1. Finalization of Annual Accounts/ Quarterly Accounts, coordinate with various auditor and consultants 2. Fund management ,Banking, investment, financial closure of projects; 3. Financial Analysis, budget, MIS, decision support; 4. Taxation (Income Tax, Service Tax etc.) & Regulatory compliance; 5. Ensuring compliance to various statutes applicable, accounting standards and also compliance

Vacancy for CA/ICWA in Dena Bank

Link

Vacancy for CA in Oracle

Job Description 

Internal Auditor 1-Fin-16000MED 

Preferred Qualifications

Qualified Chartered Accountant with 0 to 1 year experience.

Have a basic understanding of the global processes being tested

CBEC notifies Tax Exemption on legal services provided by senior advocates

In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of

ICAI joins global body of accountants; move to enhance opportunities for Indian CAs

Minister of State (Independent Charge) for Power, Coal and New and Renewable Energy, Piyush Goyal addresses at the Chartered Accountants` Day celebrations, organised by the Institute of Chartered Accountants of India (ICAI), in New Delhi on July 1, 2015 (Representational image).IANS

The Institute of Chartered Accountants of India (ICAI) is all set to widen opportunities for its 2.50

Vacancy for CA in Citi Bank

Officer in Charge Settlement Clearing House

Description

• Managing day to day operations of the units, with complete adherence to defined processes & controls


• Ensure client delivery as per SLA & defined timelines, timely action on client requirements

SEBI finally initiates action against NDTV, promoters

The Securities and Exchange Board of India (SEBI) has finally initiated approved enforcement action against New Delhi Television Ltd (NDTV) and its promoters Prannoy Roy and Radhika Roy and RRPR Holdings Pvt Ltd, for the company's failure to multiple disclosure information to Exchanges. 

 

In a notice issued on 8 June 2016, the market regulator said, "...(SEBI) conducted an examination of certain non-compliance by you in the matter of NDTV Ltd and prima facie found that you have violated SEBI Act, 1992 and SEBI (Substantial Acquisition of Shares and Takeovers) Regulations,

Vacancy for CA/ CA Inter in BNP Paribas

Department

Asset & Fund Services Department
Sub-department:

IRP – Work Experience expected 3-7 years
Reports to:

Date:

Date as on which JD is valid
Based at:

Chennai
Company background

The bank

With a presence in over 80 countries and employing over 200,000 staff, BNP Paribas is one of the

Mahanagar Gas looks to raise more than Rs 10 billion through IPO

Mahanagar Gas Limited IPO Update:

Opens On: 21-June-2016

Closes On: 23-June-2016

Price Band:

Read more »

Vacancy for CA

1.     We need a qualified person with CA or CMA or MBA Finance Degree having about three year’s experience.
2.     We also need one CA having experience and worked in any PPP project having about three year’s

Draft GST law has been uploaded on Finance Ministry's site

http://www.finmin.nic.in/reports/ModelGSTLaw_draft.pdf

CHANGES IN INDIAN RAILWAY/ IRCTC PASSENGER RESERVATION SYSTEM FROM 01st JULY 2016

Passengers will get refund amount of 50% on cancellation of tatkal tickets.

2⃣There has been slight change made by the Indian Railways for booking tatkal tickets. From July 1, tatkal window for AC coach will be open between 10 am to 11 am and for sleeper coach the timing will be from 11 am to 12 pm.

3⃣From July 1 the Waiting list system will come to an end and tickets will be issued only for

Read more »

Vacancy for CA in Yes Bank

Reference Code:

	3075
Job Title:	Business Relationship Partner
Job Description:	To ensure acquisition & value build of new to Bank YES FIRST BUSINESS Product/Program & Trade/Fx led CA customers in the branch in the identified segments To Identify, build, acquire and deepen relationships to gain incremental wallet

HP Spectre Review - The thinnest laptop till date

Read more »

Why is HUL transferring general reserves balance to P&L account

June 6, 2016:  

 On June 30, the shareholders in Hindustan Unilever Ltd (HUL) will vote on a proposal that is a first in corporate India.

HUL is proposing to transfer the entire balance lying in its General Reserves as on April 1, 2015 (about ₹2,187 crore) to its profit and loss (P&L) Account.

This, the company says, will give it greater flexibility to enable, among other things, payouts to its

Vacancy for CA in Srei Infrastructure Finance Ltd

Business Unit : Srei Infrastructure Finance Ltd
Designation : Assistant Manager ( Credit Analyst)
Grade : CS5
Location : Mumbai
Reporting Relationship : AVP
Purpose of the Role : Credit Analyst Role, Analyzing the business proposal, handling

Vacancy for CA Inter in Bajaj Finserv

Manager - Finance

Location	CORPORATE OFFICE - EXT.
Business/Function	FINANCE AND ACCOUNTS
Band	E04B
Reports to	SENIOR MANAGER - FINANCIAL ACCOUNTING

Job Duties & Key Responsibilities

• Monitor accounting of insurance Income, Expense, Premium, Float

TCS Amendment in section 206C circular no.22/2016 dated 8/6/2016 (FAQ's)

circular tcs.pdf

Vacancy for CA in Aditya Birla Group

Job Description 

Requisition Title

:Assistant General Manager 

Job Number:

:160103UO 

Schedule

:Full-time 

Primary Location

:India-Maharashtra-Mumbai 

Presentation & Checklist on CARO, 2016 and also format for Audit Report

CARO, 2016 at the below mentioned link:

https://drive.google.com/file/d/0B3QY1TQvCNQfeXpXM2V2bVN6YXc/view?usp=sharing

And also attached herewith the links on the following:

Vacancy for CA in Larsen & Toubro Infotech Ltd

Job Title
Accountant / Accounts team
Job Description

Accounts team:

• Should have Knowledge of accounting and Bank reconciliation

• Should have exposure of P&L Analysis, Financial reporting and Statutory audits.

Experience: 2-3 years

Qualification: Full time MBA-Finance or CA (maximum 3rd attempt)

Location: Powai

 

About Us

Larsen & Toubro Infotech Ltd. (L&T Infotech), one of the fastest growing global IT services company, is ranked by NASSCOM as the 6th largest software & services exporter from India and among the top 20 IT

5 Amazing Inventions You NEED To See #25

The I T department has launched an ATM-based validation system for filing e-ITRs by taxpayers

New Delhi: The Income Tax department has launched an ATM-based validation system for filing e-ITRs by taxpayers as part of its measure to enhance the paperless regime of filing the annual IT returns.

"Now, Electronic Verification Code (EVC) can be generated by pre-validating your Automated Teller Machine (ATM) provided by the bank where a taxpayer has an account. While SBI has activated the facility

Vacancy for CA in Aditya Birla Money Mart Ltd

Job Description 

Requisition Title

:Head – Operations and Process Excellence 

Job Number:

:160103WH 

Schedule

:Full-time 

Primary Location

:India-Maharashtra-Mumbai 

Organization

:Aditya Birla Money Mart Ltd. 

Introduction about the Business_1

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

Central Government hereby appoints the 1st day of June, 2016, on which all matters or proceedings or cases pending before the Board of Company Law Administration (Company Law Board) shall stand transferred to the National Company Law Tribunal

SECTION 434 OF THE COMPANIES ACT, 2013 - CERTAIN PENDING PROCEEDINGS - TRANSFER OF - TRANSFER OF CASES FROM BOARD OF COMPANY LAW ADMINISTRATION (CLB) TO NATIONAL COMPANY LAW TRIBUNAL (NCLT) W.E.F. 1-6-2016

Vacancy for CA in KPMG

Auto req ID	108139BR
Job Title	Senior Manager
Country	India
Location	Mumbai
Function	Audit
Service Line	Audit
Job Level	Manager
Contract Type	Permanent
Full Time / Part Time	Full Time
About us	An independent audit of financial statements is essential for the effective operation of business entities and the capital markets. We are committed to providing a constructive

Income Tax Department Notifies Four New Forms Under Domestic Black Money Window

Earlier, government had come out with a similar scheme for Indians holding undisclosed income abroad. (File Photo)

New Delhi:  The Income Tax department today notified four new forms for those who wish to declare their untaxed funds and properties under the one-time domestic black money compliance window that opened this month.

The forms - 1, 2, 3 and 4 - can be used both for e-filing or manual filing of the black money assets by a

TCS of 1% applicable w.e.f 1/06/2016 if the consideration ( or any part of it) is received in cash of sale of ANY goods/ provision of any service.

Finance Act 2016 Section 206C(1D) (TCS) for immediate attention of All

w.e.f *01.06.2016*, if the consideration ( or any part of it) is received in cash of sale of ANY goods/ provision of any service (exceeding Rs. 2. lac), TCS @ 1% should be deducted.
Example: MR A purchases goods from distributor for Rs. 6.00 lac on 10.06.2016, payment of Rs. 598000/- has been made by cheque/RTGS on 11.06.2016, balance 2000/- has been paid in Cash on

Vacancy for CA/CA Inter in Randstad

job description

?SCOPE OF RESPONSIBILITY:

? Provide reports and analysis to Sales Organization to evaluate Sales goal. Develop

standardized methodologies aimed at improving operational efficiency.

PURPOSE OF THE POSITION

The Analyst is responsible for the collection, analysis, and reporting of sales related data in an on-

'Google tax' to be levied from June 1

The 'Google Tax' or 'Facebook Tax' which was first announced in the FY17 budget statement by Finance Minister Arun Jaitley will be levied from June 1. Here's all you need to know about it -- what Google Tax is, who will pay it, and its implications --
As the name suggests, it's got something to do with e-commerce companies.
The Google Tax was announced to introduce a tax on the income as accrue to a foreign e-commerce

Vacancy for CA/ICWA in Tata Communications

May independently conduct activities such as business case creation, AOP preparation, preparation & analysis of financials,etc. May lead important projects that require providing experienced project team members with instruction, guidance and advice in all aspects of the project to ensure delivery of quality

Due date of E-filing of appeals Extended

Circular No. 20/2016

F. No. 279/Misc/M-54/2016/ITJ

Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

New Delhi, Dated: 26th May, 2016

Subject:  E-filing of appeals: Extension of time limit - reg.

Rule 45 of the Income Tax Rules, 1962, mandates compulsory e-filing of appeals before Commissioners of Income Tax (Appeals) with effect from 01.03.2016 in respect of persons who are required to furnish return of income electronically. It has come to the notice of the Central Board of Direct Taxes (hereinafter referred to as the Board) that in some cases the taxpayers who were required to e-file Form 35, were unable to do so due to lack of

Vacancy for CA in Deloitte

Job Description

This is your opportunity to join Deloitte's Transaction Services practice. Working on high profile assignments, you will have the opportunity to be involved in a wide variety of corporate finance projects, with a mix of both corporate and private equity transactions, within a highly commercial, client focused environment.

What we do

Due diligence is now regarded as one of the most important milestones in a deal process

We offer a wide range of services, with projects tailored to a client's individual needs.

We provide dedicated support throughout the deal / transaction lifecycle from initial evaluation

CBDT issues CIRCULAR ON SEC.12AA regarding cancellation of registration of trusts

1527201655012(1).pdf

Vacancy for CA/CA Inter in Hathway

Job Description

Qualification CA/INTER CA

Experience: 8- 10yrs.

Job Profile

• Comprehensive knowledge and understanding of accountancy, taxation, financial processes and

CBEC issues circular on Accounting code for payment of Krishi Kalyan Cess

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF EXCISE AND CUSTOMS
(TAX RESEARCH UNIT)
NEW DELHI

CIRCULAR NO

194/04/2016-ST, Dated: May 26, 2016

Subject: Accounting code for payment of Krishi Kalyan Cess - regarding.

Chapter VI of the Finance Act, 2015 will come into effect from 1st June, 2016. Krishi Kalyan Cess is leviable on all taxable services, other than services which are fully exempt from Service Tax or

Vacancy for CA/Inter CA in Hyatt

Job Description 

Finance Manager-MUM000442

Description

 You will be responsible for the efficient running of the department in line with Hyatt International's Corporate Strategies and brand standards, whilst meeting employee, guest and owner expectations. The Finance

CA, merchant bankers to determine Fair Market Value in indirect transfers

Under the draft rules, FMV in case of listed companies will be determined in relation to market capitalisation, book value of liabilities and number of shares held.(PTI)

Chartered accountants or merchant bankers will compute the fair market value (FMV) of assets in case of indirect transfer of assets by overseas companies on arm’s length basis, the revenue department today

Vacancy for CA / CA Inter in Shell

Auto req ID 18529BR Job Title Senior Team Manager – Manage Direct Tax Country of Work Location India Work Location Chennai Company Description The aim of the Shell Business Operations, Chennai is to provide the Group with operational excellence through highlighting and utilizing proces...read more

STATUTORY REGISTERS MANDATORY FOR THE YEAR OF 2015-16

STATUTORY_REGISTERS.zip Kindly find attached herewith STATUTORY REGISTERS for the financial year ended on 2015-16 as per latest amendments Pursuant to section 88 (1)(a) of the Companies Act, 2013 and rule 3(1) of the Companies (Management and Administration) Rules, 2014 are as fol...read mo

Vacancy for CA/ CA Inter in HDFC Bank

Click here to apply

The Vijaya Bank invites application for empanelment as concurrent audits

The Vijaya Bank invites application for empanelment as concurrent audits. For online application please click on:

Looking for CA partners

Looking for CA partners having exprnce more than 2 years in UP, Kolkata and Ahmedabad for 7 yrs old firm having 10 partners, 8 PAN India basis branches, including 2 FCA and DISA Qlfd,

Vacancy for CA/ICWA OR M. Com / B. Com / CA Inter in Aditya Birla Group

Job Description 

Requisition Title

:PF Accounts Indirect Taxation (Assistant Manager / Senior Officer) 

FEM (Exports of Goods and Services) Regulations, 2015

All AD Category – I Authorised Dealer Banks

Foreign Exchange Management (Exports of Goods and Services) Regulations, 2015

Attention of Authorised Dealers (ADs) is invited to A.D.(M.A. Series) Circular No. 11 dated May 16, 2000 in terms of which ADs were advised of various Rules, Regulations,

Workshop on Finnacle in CBS System

Workshop on Finnacle in CBS System 
Day & Time: 21st May 2016 (4.00pm to 7.00pm)
Venue: R.Singhi Hall, EIRC Premises
Fees: Rs. 200 (with Referencer)
CPE Hrs: 3 

Dear Esteemed Members,

Team EIRC has organised Workshop on Finnacle in CBS System, the details

Computation of book profits by Ind AS compliant companies for levy of MAT

1) Introduction

The provisions of Section 115JB provide for levy of MAT on basis of "book profits", i.e., the profit disclosed in profit and loss account prepared in accordance with provisions of The Companies Act. Ind AS compliant companies shall be required to bifurcate theirProfit or Loss account into

CAPITAL GAINS ON CONVERSION OF PARTNERSHIP FIRM INTO A PRIVATE LIMITED COMPANY

Introduction

The partnership firm and a private limited company are two different legal entities, with different legal liability.  The liability of a partner is different from that of the liability of a director in a

FINANCE MINISTRY REVIEWS PROGRESS OF GOLD RELATED SCHEMES

PRESS RELEASE, DATED 16-5-2016

A meeting under the Chairmanship of Shri Shaktikanta Das, Secretary, Department of Economic Affairs (DEA), Ministry of Finance was held here on Gold Monetisation Scheme (GMS) and Sovereign Bond Scheme (SBS) on 13.05.2016 with the senior executives of all Public and Private Sector Banks, RBI and Bureau of Indian Standard (BIS). Shri H R Khan, Deputy Governor, RBI

The Future Audit Team: Smaller, Nerdier, Expensiver

As auditing changes, naturally, so will the auditors. Technology drives a lot of this change so it stands to reason that people who understand and build technology will become the new auditors. Or, maybe accounting programs will become more technology focused.
Either way, recruiting auditors will look very different and sooner than you might think. This Financial Times article covers this pretty well but you can boil things down to these four quotes:

PROFESSIONAL OPPORTUNITY - RECRUITMENT IN ALLAHBAD BANK

Allahabad Bank invites Online Applications for recruitment to the posts of 60 Specialist Officers. [50 Chartered Accountant/Financial Analyst in MMG Scale-II.  Pay scale of MMG Scale-II:Pay Scale:31705-1145-32850-1310-45950

Last date to apply 30.05.2016.

For detail please click on:

INCOME DECLARATION SCHEME, 2016 - DECLARATION OF DOMESTIC BLACK MONEY FROM 1-6-2016 TO 30-9-2016

PRESS RELEASE, DATED 14-5-2016

The Income Declaration Scheme, 2016 incorporated as Chapter IX of the Finance Act 2016 provides an opportunity to all persons who have not declared income correctly in earlier years to come forward

ABATEMENTS IN SERVICE TAX: CHANGES W.E.F. APRIL 2016

Article Change in Abatements (w.e.f. 1.4.2016 - Vide Notification No. 8/2016-ST dated 1.3.2016) Vide Notification No. 8/2016-ST dated 1.3.2016, abatement conditions and rates have been rationalized w.e.f. 1.4.2016. The changes have been made in respect of services by –

Effective Rate of Service Tax under Abatement, Reverse Charge and Valuation Rules after introduction of KKC

Article Dear Professional Colleague, Effective Rate of Service Tax under Abatement, Reverse Charge and Valuation Rules after introduction of KKC Pursuing with an objective to finance and promote initiatives to improve agriculture and farmer welfare, the Government has announced a new cess namely ‘Krishi Kalyan Cess’ (“KKC”), to be levied at 0.5% on the value of all taxable services w.e.f June 1, 2016. In this regard, a new Chapter VI has been inserted in the Finance Bill, 2016, that

CIT vs. Amitabh Bachchan (Supreme Court)

S. 263: Even if AO applies mind and decides not to assess expenditure as unexplained u/s 69C because the assessee withdrew the claim for deduction, the CIT is entitled to revise the assessment on the ground that the matter needed further investigation

(i) The CIT took the view that notwithstanding the withdrawal of the claim by the assessee, in view of the earlier stand taken that the said expenses were incurred for security purposes of the assessee, the Assessing Officer ought to have proceeded with the matter as the assessee was following the cash

Mauritius investors to be taxed from Apr 2017

The government has gained the right to tax capital gains arising in Mauritius from sale of shares acquired on or after April 1, 2017, in Indian companies.

India and Mauritius on Tuesday signed a protocol for amendment of a three-decade-old double

Require CA Firm

We wish to acquire a CA firm. The firm should be at least 10 years old. If any firm is available for sale, the concerned person may contact to me.

Thanks and with regards,

ICAI planing to hold CPT (foundation course) in May-Nov.

Punjab & Sind Bank invite online application from Chartered Accountant for empanelment as Concurrent Auditor.

Last date is 31/05/2016

The following criteria shall be adopted while selecting a firm for concurrent audit assignment:

i.The Chartered Accountants firm should preferably be a partnership firm with at least one FCA partner

ii.The Sole Proprietorship Chartered Accountant firms will be discouraged, however, in case proprietor is a FCA and has employed an ex-banker of scale-II & above for conducting concurrent audit, the ACE, on merit of each such case, would

UnitedHealth Group Gurgaon Recruitment 2016 for C.A. (Inter) Senior Accountant

Position Description

Brief Description:
Receiving, verifying and processing vendor invoices
Maintaining Invoice trackers
Maintaining contract / agreement repository
Reviewing employee expense reimbursements
Processing payments
Working with internal stake holders on vendor issues

Download CA IPCC Tax Suggested Answers May 2016.

 In the previous article, we have given CA IPCC Tax Question Paper May 2016. After completion of Tax exam, everyone wants to know

POWERGRID Recruitment 2016 for CA,ICWA,CS Deputy Manager

POWERGRID, the Central Transmission Utility (CTU) of India and a Navratna Public Sector Enterprise under the Ministry of Power, Govt. of India is engaged in power transmission business with the mandate for planning, co-ordination, supervision and control over complete inter-State

Free Download CA Final Direct Tax Question Paper May 2016

Free Download CA Final Direct Tax Question Paper May 2016. Students should go through the ‘Study Material‘ for conceptual clarity & understanding and while doing so they should never hesitate to refer some good books so that no doubt can creeps into their mind. Make necessary notes

CA IPCC Suggested Answers May 2016

CA IPCC Suggested Answers May 2016 to Nov 2009. In the previous post, we have given CA IPCC Question Papers from May 2016 to May 2010. Today we are providing CA IPCC suggested answers of previous exams i;e last 10 attempts. Now you can download CA IPCC suggested answers of both Group – 1 and Group – 2, Accounts, Law ethics and communication, Cost

JK Shah classes launches online classes

REVERSE CHARGE ON “ANY SERVICE” RECEIVED FROM GOVERNMENT: ALARM BELL FOR ALL BUSINESS ENTITIES FROM 1st APRIL 2016

The striking difference between the Service Tax and Income Tax is that under Income Tax Government is not included in the definition of person and, thus, is not a taxable entity. However, under the Service Tax as per section65B(37) of the Finance Act, 1994 person includes Government and, thus, the Government is a taxable entity and the services provided by them, unless

CSR expenses must be treated as non-cost items: ICAI

Companies need to treat expenses related to CSR activities as non-cost items and separately disclose transactions in this regard where related parties are involved, according to cost accountants’ apex body ICAI.

In a detailed exposure draft of guidance note on ‘Treatment of Costs Relating to CSR Activities’, the

Impact of liquor ban - surplus molasses - Centre accepts Bihar's proposal for lifting 6 cr litre of ethnol for bleding with petrol scheme

NEW DELHI, : RECENTLY, Government of Bihar has announced a New Excise Policy, wherein total ban has been imposed on liquor. Government of Bihar had requested Ministry of Petroleum & Natural Gas to explore whether the oil companies would be able to lift the entire ethanol produced by the distilleries in Bihar.

The Central Government is keen to undertake developmental works more specifically for the agriculture sector in the State of Bihar. The proposal of Government of Bihar has been considered by

Significant amendments to the India – Mauritius DTAA

Government of India has made some significant amendments to the India – Mauritius DTAA by entering into a Protocol. The amendments will have far reaching implication on the investments routed through Mauritius.”

Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

PRESS RELEASE

New Delhi,

10thMay, 2016

Subject: Protocol for amendment of the Convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital gains between India and

Refund of IT will be issued fast

Pre-multipurpose empanelment form (P-MEF) for the year 2016-17

1. Pre-multipurpose empanelment form (P-MEF) for the year 2016-17 is now hosted at

Union Budget 2016-2017 Announcements for units located in IFSC - Gujarat gift City

Union Budget 2016-2017 Announcements for units located in IFSC
1    Minimum Alternate Tax (MAT) reduced from 18.5 % to 9 % in IFSC
2    Security Transaction Tax (STT) waived off
3    Commodity Transaction Tax (STT) waived off

CBDT publishes direct taxes related data for first time

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It also discloses the Permanent Account Number (PAN) allocation across various categories and gender by the end of 2013-14 fiscal. (PTI)

In a first, CBDT has made public a host of hard data on the total number of taxpayers in the country, income disclosed in income tax returns by various category of taxpayers and number of PAN holders

Only 10 lakh earning over Rs 10 lakh a year declare income

NEW DELHI: There are just over 10 lakh income tax assesses in India declaring income in excess of Rs 10 lakh a year, data released by the government showed.

There were less than 20,000 assesses in 2012-13 declaring income in excess of a Rs 1 crore a year. Of

Cost accountants And Bank Stock audit concurrent audit

http://icmai.in/upload/COBI/COBI-Notice.pdf

Top 20 Benefits of landline over mobile phone

Benefits of landline over mobile phone

Issues	Landline	Mobile phone
Billing	At the end of the month	Prepaid at the beginning of the month
Savings	Saves one month interest	Service provider uses your money to earn interest.
Handsets	Avg life of handset 20 years If cordless 3 to 5 years	Avg life maximum 3years
Capital cost	One handset of Rs.1000 for 20 years. One cordless handset of Rs.2000 every 5 years Rs.10000 Savings in capital cost on handset upto Rs.1 lakh in 20years	One handset every 3 years @ Rs.20000 for 20 years around