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CENTRAL RECRUITMENT & PROMOTION DEPARTMENT

With a glorious history of more than 200 years blended with futuristic outlook, State Bank of India stands as the proxy for the Indian Economy. The Bank with its customer centric approach values transparency and nurtures knowledge and learning. It believes in the quality of its people and their

MCA last date extended till 30.12.2015 for all forms

http://www.mca.gov.in/Ministry/pdf/General_Circular_No_15_2015.pdf

The Central Government has notified the Schedule of revised All Industry Rates of Duty Drawback effective from 23rd November, 2015.

The Central Government has notified the Schedule of revised All Industry Rates of Duty Drawback effective from 23rd November, 2015.

These revised rates are based on average incidence of Customs and Central Excise Duties and Service

Guide: Using the Function Keys on Your Computer

Have you ever wondered what those twelve, mysterious 'F' keys at the top of your computer keyboard do?  Most of us ignore them but they actually have a number of uses that can help you enjoy a quicker and more efficient computer experience. Known more properly as the 'Function Keys', some are more useful that others and many of them have different functions depending on the programmes you are using. Our simple guide gives you are all the information you need about the uses of the 'F' keys so that they are a mystery no more!

Nearly every programme uses F1 as a Help Key. So if you are on the internet for example and press F1, your browser will automatically bring up a help page. If you are in Microsoft Word and press F1 you will be taken to the extensive help section.

ICAI - December Journal

http://www.icai.org/new_post.html?post_id=5487&c_id=259

Service tax on Data Storage Services Provided in India and abroad by companies registered in India

In a regime where cloud computing is gaining popularity and the servers providing the facility of data storage at remote location, it becomes pertinent to assess whether such activity constitute  “service” or “Goods” for taxation

Expression of Interest for Chartered Accountant Firms/Consulting Firms in Internal Audit for Balmer Lawrie And Co. Limited

Balmer Lawrie And Co. Limited
Last Date : Dec 28, 2015
Expression of Interest for Chartered Accountant Firms/Consulting Firms in Internal Audit for

How GST Will Change the Face of Indian Economy? - Must Read

How GST Will Change the Face of Indian Economy? - Must Read


Indian truck drivers clock an average of 280 km per day, much below the world average of 400 km per day and far below the 700 km the average truck driver in the US does every day. The underperformance of Indian truckers has less to do with bad roads and less fancy trucks and more

Apex Court discuss scope of ‘commercial expediency’ to allow deduction of interest to Hero Cycles

IT : Once it is established that there is nexus between the expenditure and the purpose of business (which need not necessarily be the business of the assessee itself), the revenue cannot justifiably claim to put itself in the arm-chair of the businessman or in the position of the board of directors and to decide how much is reasonable expenditure having regard to the circumstances of the case.

Facts

(a)		Assessee-company had taken a loan at interest rate of 18% p.a. Out of such borrowed funds it had transferred certain sum to its subsidiary-company without any interest. It had claimed deduction of interest under Section 36(1)(iii).
(b)		Assessing Officer ('AO') disallowed interest on borrowed sum on the ground that such funds

Will PSU offers get oversubscribed?

IPO Pricing Impact

Will PSU offers get oversubscribed?

 

The Bihar election results seem to have jolted the National Democratic Alliance (NDA) into  realising that people are fast

ICAI - Appeals to Voters

http://icai.org/post.html?post_id=12155

Annual turnover' can't be interpreted to include only brokerage for computing registration fee: SC

Annual turnover' can't be interpreted to include only brokerage for computing registration fee: SC

November 26, 2015[2015] 63 taxmann.com 311 (SC)

SEBI : Annual turnover of stock broker as per Explanation after paragraph 3 to Schedule III to SEBI (Stock Brokers & Sub Brokers) Regulations, 1992 must include value of entire

IT: HC sets aside block assessment as seized material was destroyed in fire that took place at revenue's office

IT: HC sets aside block assessment as seized material was destroyed in fire that took place at revenue's office

 [2015] 63 taxmann.com 137 (Delhi)

HIGH COURT OF DELHI

Commissioner of Income-tax (C)-I

v.

MGF Automobiles Ltd.*

Section 153A of the Income-tax Act, 1961 - Search and seizure - Assessment in case of (Conditions precedent) - Assessment years 2004-05 and 2005-06 - Pursuant to High Courts

BSNL to offer free WiFi services at more airports in India

http://www.ibnlive.com/news/tech/bsnl-to-offer-free-wifi-at-more-aai-managed-airports-1170091.html

IPCC Auditing November 2015 suggested answers

1.)Discuss the following:

(a) With reference to SA 320 indicate the factors which may affect the identification of an appropriate bench mark in determining materiality for the financial statement as a whole .

Answer: Factors affecting identification of appropriate benchmark as per SA 320:

Determining materiality involves the exercise of professional judgment. A percentage is often applied to a chosen benchmark as a starting point in determining materiality for the financial statements as a whole. Factors that may affect the identification of an appropriate benchmark include the following:

Meals prepared at one's own premises an simply supplied at pre-determined rates without getting involved in serving of meals in any manner would not be covered by definition of outdoor caterer .

M/s. Ambedkar Institute    of Hotel  Management     vs. Commission of Central   Excise  and  Service  Tax, Chandigarh [2015- TIOL-1593-CESTAT-DEL]     

Meals prepared  at  one's   own   premises  an simply    supplied    at    pre-determined    rates without  getting  involved  in  serving  of  meals in  any  manner would  not  be  covered  by definition  of outdoor  caterer .

FACTS:

Appellant is an  institute  providing  mid-day  meal to the schools  under  the  Government  Scheme.  The  institute prepares food as per the fixed menu and supplies to the schools

This calling app lets you make calls anywhere in India at 19 paise per minute

http://www.ibnlive.com/news/tech/this-calling-app-lets-you-make-calls-anywhere-in-india-at-19-paise-per-minute-1169328.html

The World's Most Compact Solar Charger

Heli-on by InfinityPV is a most compact portable solar charger designed to fit into the grip of your palm. This pocket sized wonder has its own flexible solar panel rolled up cozily into a cylindrical outer casing. It also has its own inbuilt battery that allows you to charge your devices when there is no sunlight. Use the solar panels to directly charge your devices, or to charge the Heli-on itself. Currently crowd-funding at Kickstarter.

Read more »

Limited Liability Partnership (Amendment) Rules, 2015

In exercise of the powers conferred by sub-sections (1) and (2) of section 79 of the Limited Liability Partnership Act, 2008 (6 of 2009), the Central Government hereby makes the following rules further to amend the Limited Liability Partnership Rules, 2009 namely:-

1. Short title and commencement.- (1) These rules may be called the Limited Liability Partnership (Amendment) Rules, 2015.

(2) They shall come into force with effect from 19th October, 2015.

2. In the Limited Liability Partnership Rules, 2009,-

(i) for rule 33, the following rule shall be substituted, namely:-

CBDT to finalise 50 to 60 APAs before the end of this fiscal

Signing Advance Pricing Agreements (APAs) – regarding It has been the endevour of the Government to foster an environment of co-operation in matters of taxation through predictability of laws and reduced litigation. In a major push towards providing certainty to foreign investors in the arena of transfer pricing, the Central Board of Direct Taxes has entered into 11 more unilateral Advance Pricing Agreements (APAs). These APAs were signed