Discount allowed by TeleCos to distributors on prepaid recharge coupons was liable to sec. 194H TDS

July 29, 2015[2015] 59 taxmann.com 176 (Calcutta)

IT : Discount allowed by assessee to its distributors in respect of starter packs and recharge coupons for its prepaid mobile service amounted to

Karnal Chartered Accountants Students Association (KCASA) is organising a “Quiz Contest for CA Students”

Dear Members,

 

It is hereby informed that Karnal Chartered Accountants Students Association (KCASA) is organising a   “Quiz Contest for CA Students” at the Branch level on 1^st August,2015 Saturday at 2 PM at Karnal club.

 

PARTICIPANTS CAN BE :

·        Students registered with the Institute for Final Course and are undergoing article/audit training, Intermediate (IPC) Course are eligible to participate in the Contest.

·        students who have completed articles/audit training are not eligible to participate.

·         Contestant who has won the Contest at the Branch Level and later passes the Final Examination and

Treasurer, Faridabad Branch of NIRC of ICAI turns whistleblower

(The following is based on email recd by this news channel)

July 27, 2015

The President,

The Institute of Chartered Accountants of India

New Delhi

Ref: Notice for the meeting of Managing Committee of Faridabad Branch scheduled to be held on 03-08-2015 to change signatories to the Bank Accounts of the Branch

Sir,

This has reference to above, notice duly signed by the Chairman and the Secretary of Faridabad Branch, for meeting of managing committee scheduled to be held on 03-08-2015 is being forwarded

Amount spent by CMII in 5 star Hotels

Committee for member in industry spent in organising programs in 5star hotels :( Source RTI information)

......................

Rs. 19707871.00 in 2013-14

(Rs. 19066903.00 for programs in Delhi)

(Rs. 168976.00 for program in Mumbai)

Check allotment of PSU with CAG for 2015-16

Empanelment with CAG and allotment of PSU Audit for the FY 2015-16 has been hosted

Indian Railways modifies identity proof rules for Tatkal travellers

http://www.financialexpress.com/article/economy/indian-railways-modifies-identity-proof-rules-for-tatkal-travellers/109647/

All India Free Distribution of CD on Co Law by CA N More

1) A CD on company Law has been compiled by CA N More & others. 

2) In eastern region, we got sponsorer who will make CD. Now, we invite CAs from different cities of eastern region to come forward & help us to distribute these CDs. Please note

ICAI - Railways

http://www.icai.org/new_post.html?post_id=11769&c_id=219

CA PRACTICE- BE A MANAGING DIRECTOR

A Chartered accountant in practice can also practice in corporate form. The Council permits a Chartered Accountant in practice to practice in Corporate

Windows 10 review: 5 reasons why you should upgrade to Microsoft's new operating system

http://www.ibnlive.com/news/tech/windows-10-review-5-reasons-why-you-should-upgrade-to-microsofts-new-operating-system-1027137.html

Windows 10: Microsoft launches new operating system; to be available as a free upgrade

http://www.ibnlive.com/news/tech/windows-10-microsoft-launches-new-operating-system-to-be-available-as-a-free-upgrade-1027384.html

Extension of due date of filing Return of wealth for A.Y, 2015-16-clarification

F.No.328/08/2015-WT
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes

New Delhi, dated the 27 ^th July, 2015

 To All Pr. Chief Commissioners of Income-tax

Subject: Extension of due date of filing Return of wealth for A.Y, 2015-16-clarification

In terms or Explanation to sub-section (1) of section 14 of the Wealth-tax Act 1957, ‘due date' of filing Return of wealth in relation to an assessee under the Wealth-tax Act shall be the same date as that applicable to an

File Income Tax Returns Online in India With These Websites

When filing tax returns is mentioned, many people assume that this is a laborious process best handled by a chartered accountant. But as with many other government services, even tax filing is simpler when you do it online. Whether you are a self-employed person who needs a CA's help to file

Guidelines for appointment of statutory auditors in Public Sector Banks

Last date of online submission of Multipurpose Empanelment form is 31^th August 2015, I am hereby given you, guidelines for appointment of statutory Auditors in public Sector Bank and request you to read carefully such guideline before filling your

SECTION 48 OF THE INCOME-TAX ACT, 1961 - CAPITAL GAINS - COMPUTATION OF - NOTIFIED COST INFLATION INDEX U/S 48, EXPLANATION (V) NOTIFICATION NO.60/2015 [F.NO.142/10/2015-TPL], DATED 24-7-2015

SECTION 48 OF THE INCOME-TAX ACT, 1961 - CAPITAL GAINS - COMPUTATION OF - NOTIFIED COST INFLATION INDEX U/S 48, EXPLANATION (V)

NOTIFICATION NO.60/2015 [F.NO.142/10/2015-TPL], DATED 24-7-2015

In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue),

IT: Excess application of funds over and above income of trust can arise only when funds are applied from the corpus of the trust, accumulated funds, loans or goods and services received from the creditors

IT: Excess application of funds over and above income of trust can arise only when funds are applied from the corpus of the trust, accumulated funds, loans or goods and services received from the creditors. When funds are applied from borrowed funds or by way of sundry creditors the same can be treated as application of funds in the year in which such loan/sundry creditors are repaid from the income of the trust. However, when amount is applied from the corpus fund or accumulated fund the same cannot be treated as application of funds under section 11, because such funds have already been exempt from the income of trust in the year in which they are received or such amount is set aside. Thus, trust cannot carry forward excess application of funds.

Facts:

(a)

Assesses-trust was running an educational institution. It was registered under sec

Cenvat Credit : Credit of insurance/repair of motorcar is available to assessee-firm even if car is in name of partner, provided car is shown as assets in books of firm and depreciation and other expenditure thereon is incurred/borne by firm

Cenvat Credit : Credit of insurance/repair of motorcar is available to assessee-firm even if car is in name of partner, provided car is shown as assets in books of firm and depreciation and other expenditure thereon is

Competition Act : Where big players such as HP, IBM, Lenovo were operating in relevant market of x86 server in India, Dell was not dominant in relevant market and, therefore, question of abusing dominant position did not arise

Competition Act : Where big players such as HP, IBM, Lenovo were operating in relevant market of x86 server in India, Dell was not dominant in relevant

SECTION 211 OF THE COMPANIES ACT, 2013 - SERIOUS FRAUD INVESTIGATION OFFICE - ESTABLISHMENT OF - NOTIFIED SERIOUS FRAUD INVESTIGATION OFFICE

NOTIFICATION NO. SO 2005(E) [F.NO.A-35011/09/2011-ADMN.III], DATED 21-7-2015

In exercise of the powers conferred by sub-section (1) of section 211 of the Companies Act, 2013 (18 of 2013), the Central Government hereby establishes the Serious Fraud Investigation Office

SPECIAL ECONOMIC ZONES (AMENDMENT) RULES, 2015 - AMENDMENT IN ANNEXURE II NOTIFICATION NO.GSR 564(E) [F.NO.C.5/1/2010-SEZ], DATED 16-7-2015

SPECIAL ECONOMIC ZONES (AMENDMENT) RULES, 2015 - AMENDMENT IN ANNEXURE II

NOTIFICATION NO.GSR 564(E) [F.NO.C.5/1/2010-SEZ], DATED 16-7-2015

In exercise of the powers conferred by section 55 of the Special Economic Zones Act, 2005 (28 of 2005), the Central Government hereby makes the following rules further to amend the Special