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Thursday, December 17, 2015

CIRCULAR RELATED TO POWERS OF CHIEF COMMISSIONER TO AUTHORIZE OFFICERS TO APPEAR BEFORE CESTAT BENCH.



F. No.390/Misc./69/2015-JC
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
(Judicial Cell)
New Delhi Dated 15th December ,2015
Instruction
Sub: Authorizing officers of the Zone to appear before CESTAT Bench
A reference has been received in the Board to empower the Principal Chief Commissioners of Customs, Central Excise & Service Tax /Chief Commissioners of Customs, Central Excise & Service

PAN mandatory in hotel bill payments, foreign travel tickets


The government on Wednesday announced mandatory quoting of income tax permanent account number (PAN) for payment of hotel bills and buying of foreign travel tickets costing Rs.50,000 and above.
 
PAN would also be mandatory for cash payments of more than Rs.50,000 for cash cards or prepaid

Monday, December 14, 2015

Vacancy for CA in JP Morgan Chase

Job Description 

CIB - Transaction Processing Mgr – Associate – Mumbai-150126273

Job Description


JPMorgan Corporate & Investment Banking (CIB) Securities Processing, a division of JPMorgan Chase Bank, N.A., is a global industry leader with $15.2 trillion in assets under

This is how ED thinks SRK used unaccounted exchange rate fluctuation to acquire Dubai property

Khan seems to be sitting on significant gains on account of exchange rate gains as the pound has strengthened from Rs 60 to Rs 100 during the period. The Enforcement Directorate suspects that Khan used this structure for some real estate transactions in Dubai in 2008, the surpluses of which were not accounted for
Shah Rukh Khan turned 50 on November 2. On a television show to mark the occasion, where he took questions from some of his 16 million Twitter followers, Khan minced no words.
"It is stupid… it is stupid to be intolerant and this is our biggest issue, not just an issue… religious intolerance and not being secular in this country is the worst kind of crime that you can do as a

Automation of Central Excise and Service Tax (ACES)


ACES stands for Automation of Central Excise and Service Tax. ACES is a centralized, web-based and workflow-based software application. This application was initially rolled-out in the Large Tax Payer Unit

FRAUD BY CONSULTANT

FRAUD BY CONSULTANT
The compliance of tax provisions either in direct tax or indirect taxes is difficult for any individual or a business entity at all times following the changes occurred now and then. For this purpose the professionals or consultants in the particular area are appointed for the purpose of compliance of the

Despite “Anti-Corruption Pledge”, Income-Tax Dept Remains Den Of Corruption. After Two CCsIT, JCIT Held For Corruption

The Central Bureau of Investigation (CBI) has made the grim announcement that a high-ranking Joint Commissioner of Income-tax in Mumbai has been arrested for demanding and accepting a bribe of

T : Penalty under section 271AAA could not be levied merely on admission of assessee during search proceedings and there must be some conclusive evidence before Assessing Officer that entry made in seized documents represented undisclosed income of assessee

IT : Penalty under section 271AAA could not be levied merely on admission of assessee during search proceedings and there must be some conclusive

Negation of effect of change in the method of depreciation on the profit and loss is not allowed

Query
A company (company A) is engaged in the retail trading. The company was following Straight Line Method (SLM) for charging depreciation. But from the current financial year it has changed the method to Written Down Value (WDV) Method. For the purpose of accounting treatment of the

SEBI attaches PACL assets worth over Rs49,100 crore

Since PACL and its promoters-directors failed to refund money to investors as per the directions of SEBI and SAT, the market regulator said it has initiated the recovery proceedings

Market regulator SEBI said as part of its recovery proceedings, it has attached all bank and demat accounts, mutual fund portfolios of

Sunday, December 13, 2015

CAG Empanelment of Chartered Accountant firms/LLPs for the year 2016-2017

OFFICE OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA 9, DEEN DAYAL UPADHYAYA MARG, NEW DELHI-110124.

Empanelment of Chartered Accountant firms/LLPs for the year 2016-2017

Online Applications are invited from the Chartered Accountant firms/LLPs who desire to be empanelled with the office of the Comptroller and Auditor General of India for appointment as

Empanelment as Concurrent Auditor with Central Bank of India


Central Bank of India Invite Application for Empanelment of CAs as Concurrent Auditors for the year 2016, Please click on the following Link for Submission of

TAX Updates for the month of Nov 2015 on Income Tax FEMA, VAT, etc



Notification, Circular and Press Release
·       The CBDT has issued a press release dated 26.11.2015 pointing out that after notification of ICDS, it has been brought to the notice of the CBDT by the

Cenvat credit is allowable of Service tax paid on the insurance premium to the Insurance Company for Group Insurance and medi-claim policies taken for existing employees as well as for the retired employees


servivce taxReliance Industries Ltd. Vs. Commissioner, Central Excise & Service Tax (LTU), Mumbai [2015 (11) TMI 969 - CESTAT MUMBAI]

Facts:

The Department denied the Cenvat credit to Reliance Industries Ltd. (“the Appellant”) on the ground that the Service tax paid on the life insurance/ medi-claim policy for the existing employees and

2017 C & AG Empanelment Ranking Points Policy & Conditions

The comptroller and auditor general of India office have recently invited applications from the Chartered accountants Firms/ LLP   for the year 2015-16. The online application format shall be

Friday, December 11, 2015

Income Tax department launches PAN-based litigation management system

Income Tax department launches PAN-based litigation
management system
 
Aimed to reduce lengthy proceedings and time taken in litigation, the Income Tax department has activated a PAN-based online system which enables the taxman to access cases in their jurisdiction on a click, amongst a building database of over 5 lakh

GST: Rates & Exemptions!

CBDT introduces new facility of pre-filling TDS data to facilitate easy correction or up-dating of TDS details

CBDT introduces new facility of pre-filling TDS data to facilitate easy correction or up-dating of TDS details while submitting online rectification request on the e-filing portal; New facility is expected to ease compliance burden on the

SEBI changes demat account rules

Markets regulator SEBI has decided that all demat accounts would be considered as a basic services demat account (BSDA) unless the demat account holder specifically opts to continue with a regular demat account.
This decision reverses the SEBI circular of August 27, 2012, which allowed existing eligible demat

20 Things Lady CAs of Great Style ALWAYS Do

It's hard to pinpoint just what makes a stylish lady CA.

Is it a vast, amazing wardrobe complete with high- and low-end pieces, alike? Is it a signature uniform that's hers and hers alone? Or, does it simply come from the inside? That's the thing about style — it's
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