CA NeWs Beta*: October 2012

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Wednesday, October 31, 2012

Chartered Accountant and Company Secretary in Reliance Manpower Consultants

A CA & CS with complete knowledge of Company Laws and Taxation, well versed with International JV's with firms. Knowledge on Material Management, ERP systems and complete Finance background, should be able to negotiate with Banks.
Salary: INR 7,00,000 - 17,00,000 P.A
Industry: Food Processing
Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
Role Category: Senior Management
Role: Company Secretary

Company Secretary in Aparna Constructions & Estates Pvt. Ltd

All Secretarial work related to the Company.

- Working with large and reputed comany registered under company Act.

- Shout be conversant with all statutory and legal compliance pertaining to good corporate governance.

- Should be computer literate and conversant with MS office.

HDFC Bank hires three vertical heads including a CA

PROFESSIONAL REQUIREMENT IN WEST BENGAL


Dear Colleagues,

A client of mine desires to open a business in Bardhan, WB. He intends to trade in Rice. We would like to engage a CA for the related works like registration under local ST laws etc.

Please revert to my mail id.
C.Seshadrinadan,
Chartered Accountant,
City Lights Shopping Complex,
Vadakkencherry
Palakkad District, PIN 678683

04922 255528 (office)
09249717557 (mobile)

Winner of Rs.1000 cash prize of Monthly Top Commentator Award

Winner of Rs.1000 cash prize of Monthly Top Commentator Award is 

Nirav


To participate in this contest click here

Empanelment of Stock auditors of Central Bank Of India

Central Bank Of India
Last Date : 03/11/2012
Empanelment of Stock auditors

Address: Central Bank Of India Jamnagar Regional office,2nd Floor,Central Bank of India Building,Mandvi Tower Road,Jamnagar-361001.
Phone:
Email:

RBI cuts Cash Reserve Ratio to 4.25%; issues a Report on Quarter Review of Monetary Policy

CAG has allotted Statutory Audit for the year 2012-13.


CAG has allotted Statutory Audit of PSU for the year 2012-13.

Visit www.cag.gov.in for details

Status of Hearing on Builders in High Court

Writ petition in Builders case on Circular 14T of 2012 has been dismissed by Hon. High Court & Extension is also denied. 


Source : The Sales Tax Practioners Association of Maharashtra.

Punjab VAT--VAT 20 Audit Report to be filed online



[PUBLIC NOTICE
EXCISE AND TAXATION DEPARTMENT, PUNJAB
ATTN: ALL DEALERS, ADVOCATES AND CHARTERED ACCOUNTANTS

1. It has been decided that the Annual VAT Returns for the year 2011-12 will be received in form VAT-20 online through the e-Return module being implemented by the Excise and Taxation Department, Punjab. All concerned are requested to note that the annual return will now be filed from 1st December 2012 to 31st December 2012. "No manual return in form VAT-20 will be received in the offices of the Excise and Taxation Department after 31st October 2012."

ETHICS ICAI

Ex-CBDT chief Sudhir Chandra sets up a voluntary venture to make tax simple


FORMER CBDT chairman Sudhir Chandra has begun a not-for-profit venture to make tax rules simpler for aam tax payers. Chandra who was a favourite official of then finance minister and current President of India Pranab Mukherjee, has formed a…
voluntary organisation called Centre for Tax Awareness and Research with a few other former tax sleuths.
A 1973 batch IRS-IT official, Chandra was Member (Investigation) before heading the Central Board of Direct Taxes last year.

Vacancy In Posts Of “Income Tax Ombudsman” (October 2012)

Vacancy in posts of "Income Tax Ombudsman" (October 2012)
The Ministry of Finance has vide letter dated 16.10.2012 invited applications for appointment to the post of "Income Tax Ombudsman". There are posts of "Income Tax Ombudsman" at 12 stations, namely, New Delhi, Mumbai, Chennai, Kolkata, Bangalore, Hyderabad, Ahmedabad, Pune, Lucknow, Chandigarh,

International taxation update from ICAI

Tuesday, October 30, 2012

Require Audit Assistant (urgently Required - Male) at Sharp...

Experience : -  1 - 3 Years
Category -  Accounts / Finance
Salary -  Not Disclosed by Recruiter
Location-  Delhi
Dateposted -  25/10/2012 Education (UG - B.Com - Commerce) OR (PG - CA) CA Finalist Semi Qualified CA Inter Finalist

Statutory Audit Manager for Delhi Location by Maximus hiring for An MNC Accounting company

CA's with Exp in Statutory Audit-Assurance
Exp: 3-8 yrs
Positions: Assistant manager and Manager
Preferred From Big 4 only
Candidate present location: Hyd /Bangalore/Chennai only
Also need a Fresher with article ship from Big 4
Salary: Best in Industry
Industry: Accounting, Finance
Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
Role Category: Accounts
Role: Chartered Accountant

Opportunity in Govt. Undertaking Organization for Company Secretary


1. Position : Company Secretary : DGM

2. Post Qualification Relevant Experience (in years): Minimum 18 years (at least five years in Sr. Management Position)

3. Job Requirement: The candidate should be a qualified Company Secretary from the Institute of Company Secretaries of India. ACS / FCS. CA/ICWA/MBA & Degree in Law will be an added advantage. The candidate should have at least 5 years experience in handling Company Secretary's functions independently in a large organization. The candidate should have thorough knowledge of all applicable laws to a listed company with special reference to Public Sector Units and have adequate experience in following functions:

Company Secretary Amazan Agro Products Ltd

E-Filing of various ROC forms and very well conversant with MCA21
Preparation of Annual Report of the company
Conducting Board Meetings etc.
Maintained Statutory Registers of the Company
Salary: INR 3,50,000 - 8,50,000 P.A. As per company policy

Walkin in Genpact - For B.com Graduates.

Genpact, formerly GE Capital International Services(GECIS), a GE affiliate and India's largest BPO and Knowledge Services organization, has over 20,000 employees spread across India, Mexico, Hungary, Poland, Romania, Philippines and China. In India, Genpact has over 16,000 employees working in offices in Delhi, Gurgaon, Hyderabad, Bangalore, Kolkata and Jaipur. Genpact provides a world class working environment and opportunities for career enhancement through focused training and rotations in different

Audit of receivables outstanding as on 31.03.2012 pertaining to distribution units of UPCL

Uttarakhand Power Corporation Limited
Last Date : 06/11/2012
Audit of receivables outstanding as on 31.03.2012 pertaining to distribution units of UPCL

Address: Uttarakhand Power Corporation Limited Urja Bhawan Kanwali Road,Dehradun-248001
Phone: 0135-2763672
Email:

THANE MID-TOWN CPE STUDY CIRCLE has organized Study Circle Meeting on 3rd Nov,2012 at TMA

Dear Members  Kindly bring the copy of form 704 for your reference. Members if you have  any queries on the below topic, kindly mail your queries  on beria@usa.com .
 
STUDY CIRCLE MEETING
CPE
03 Hrs.
Dear Members,

THANE MID-TOWN CPE STUDY CIRCLE  has organized Study Circle Meeting on 3rd Nov,2012 at TMA, Hall, Near Dwarka Hotel, Wagle Estate, Thane West . The details of programme are mentioned herein below.

Members can take advantage of this opportunity by enrolling themselves in large numbers.

Warm regards,

CA Sarad Beria (Convenor)         CA.Vijay Jain( Dy Convenor)         CA.Sunil Doshi(Dy Convenor)

 9820508633                                                9869010681                                  9833686591

Day & Date :

 Saturday 3rd Nov,2012

Venue

TMA, Hall, Near Dwarka Hotel, Wagle Estate, Thane West

Time

 

5.30 pm to 9.00 pm

 

Fees

For non study circle members: Rs 300/-
For students Rs 100/-
(Inclusive of  tea, refreshments, and course material)
 

TOPICS                                                                                     SPEAKERS

'SEMINAR on PRACTICAL ISSUES IN MVAT’
CA. BHARAT SACHDEV
 
 
 

ICAI Central Council - 2012 - Election Manifesto






FOR ICAI CENTRAL COUNCIL ELECTIONS, 2012
CONTESTANT SERIAL NO. 14 - G SEKAR, B.COM, FCA - CHENNAI

Dear Esteemed and Conscientious Professional,

I wish to inform you that I am contesting for getting elected to the Central Council of the ICAI in the forthcoming elections in December 2012. I hereby request your Support, Best Wishes and First or Best Preference Vote in this Election.

Our Central Council Election is an Election Among Equals”, i.e. professionals having equal knowledge and expertise. Sometimes, the Members not contesting the Council Elections may have better expertise and knowledge than the candidates in the election fray.

In my opinion, the Members of the ICAI Central Council are not elected for any ceremonial post or for showing their superiority. It is only a Power of Attorney executed by every Voter Member to collectively represent them on relevant issues concerning the profession, to various Government Agencies and Departments. The Power of Attorney is executed in the form of a Ballot Paper instead of a Stamp Paper. Keeping this in mind, to represent your esteemed self, I request a Power of Attorney in my favour, in the form of your First or any Best Preference Vote.

You may be aware that the past average polling is around 45% in the ICAI Elections. The election Ballot Paper is the only means through which we can prove to the Government and Regulatory Authorities that we are working together as “One Professional Community”. The voting percentage will speak before the Government in each and every interaction of our Council with the Government, for the benefit of Members and the Society.  So, I request you to kindly come and cast your vote.

 In case you are not satisfied with all the candidates, atleast please come and cast your vote of dissent.

The contribution of Chartered Accountants towards India’s Economic Growth is immense and significant. The recognition of and rewards for such contribution greatly depends on the quality of people representing our professional community in the Council. Hence, I request your goodself to cast your vote, after due consideration and objective evaluation of candidates. Let us not forget, ultimately our voting decides our representatives.

Presently, in the Southern Region of ICAI, there are around 42,000 Members. You are well aware that it is practically not possible to meet each one of you in person even though my heart would want the same, hence, I am sending this communique to you, to seek your support for my candidature.

Let us elevate ourselves in our Thoughts, Words and Actions.

Seeking your Support, Best Wishes and First or Best Preference Vote in this Elections,

With Regards,

G Sekar, FCA
“Shri Guru Padhuka” No. 27, Akbarabad 2nd Street,
Kodambakkam, Chennai – 600 024
Mob: + 91 92821 04800, 99401 77776

Enclosures:
1.  List of Activities / Aspects to be carried out, requiring your support and co–operation (Find below)
2.  My Professional Profile (Find attached)

The Way Forward……

The following is a small list of activities / aspects which I would like to present before you as my Vision / Mission, for which I would request your valuable inputs, kind guidance, suggestions, support, and co–operation.
  • Transparency in Council Proceedings, Activities, through webcasting of Institute Council Proceedings except Examination and Disciplinary Committees.
  • Necessary steps to remove Ceiling Limit on number of audits under various Law, and also to ensure that the Authorized Representatives under various Law do not project and publish themselves as “Auditors”.
  • Create necessary environment to feel every Chartered Accountant have a sense of belongingness and for all purposes, we are “ICAI Family”.
  • Equitable Representation of all interest-groups in the Council – region/ state representation, metro and mofussil based Chartered Accountants, Members in Practice and in Service, etc.
  • All ICAI publications fully updated in electronic form – readily downloadable at reasonable cost.
  • Effective Brand Building and Image Boosting of Chartered Accountants – as Facilitators and Contributory to the Revenues of the Central Government and State Governments, and as Finance Professionals guiding and directing the business community.
  • Each of the Committees of ICAI, e.g. Direct Taxes Committee, Indirect Taxes Committee, Accounting Standards Board, Auditing and Assurance Standards Board, etc. to have reasonable representation from Members in Practice as well as from Members in Service.
  • Re–engineering of CPE Programmes and Activities so as to enable Members in Practice and Service, to enrich their knowledge rather than view CPE as a tiresome formality.
  • Corporate Training Programmes conducted by the Employer in the normal course of service every year should be considered for credit of CPE Hours.
  • When the Members in Service subsequently obtain Certificate of Practice to start their full time practice, their experience in the relevant service area should be considered for empanelment purposes like Bank Audits, Central Statutory Audits, etc. irrespective of whether he is an Associate Member or a Fellow Member.
  • Effective steps for improving Articleship Training for CA students, in order to – (a)  broaden the outlook of the prospective CAs, (b) recognize the industry perspective in accounting, documentation, etc. (c) increase the employability, and (d) create overall sound finance professionals.
  • Scheme of Valuation of ICAI Exams to be published in Website after announcement of results, like Foreign Institutions, to enable the future Chartered Accountant community to equip themselves with the expected standards of the Examination Committee.
  • Increasing the awareness of the employment portal, for qualified Chartered Accountants, both from the Employer as well as Employees’ point of view.
  • Decentralisation of Power with responsibilities at administrative and operative level for every Regional and Branch Office to make them to work more efficiently and effectively.
  • Ensure all Branches Operating Cost should be met by the Head Office, viz. Maintenance of Buildings, Taxes, Electricity Charges, etc.
  • Every Branch Committee shall be administratively supported by minimum of one Administrative Assistant and other Office Staff for smooth functioning of Branch, instead of depending on support of Committee Member Office at the cost of Central Office.
  • Submission of atleast fortnightly information and action taken or to be taken on various issues related to Members / Students with Committees.
  • Introduction of Electronic Voting System through use of Digital Signature for all Members, particularly, who may be away from their primary professional address as per ICAI records, on the ICAI election date(s).

Government extended dates of online filing form 13 & 13A (KERALA VAT)

Government extended dates of online filing form 13 & 13A (KERALA VAT) to 30th day of november 2012

Now Win Rs.1000 for just commenting on news posts at CA News Beta

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Monday, October 29, 2012

Markets in the red as RBI leaves repo rate unchanged

BSEMarkets which had firmed ahead of the RBI second quarter monetary policy review erased all gains as investors booked profit at higher levels after the central bank kept repo rate unchanged but reduced the cash reserve ratio by 25 basis points to 4.25%.

At 11:04AM the 30-share Sensex which had touched a high of 18,718 was down 72 points to 18,563 and the 50-share Nifty which had touched a high of 5,690 was down 26 points at 5,639.

In the Sensex pack, L&T, SBI [ Get Quote ], Tata Motors [ Get Quote ], ITC, Reliance [ Get Quote ], ICICI Bank [ Get Quote ], HDFC Bank [ Get Quote ] and HDFC were the top losers.

Vacancy for CA/ICWA in Hindustan Aeronautics Limited

Company: Hindustan Aeronautics Limited
Industry: Manufacturing
Job Function: Finance & Accounting

Company Details: Hindustan Aeronautics Limited - HAL, a Navratna Central - Public Sector Undertaking, is a premier Aeronautical Industry of South East Asia, with 20 Production / Overhaul / Service Divisions and 10 co-located R and D Centres spread across the Country. HALs spectrum of expertise encompasses design development, manufacture

Vacancy for CMA in GM Finance by Meuse Kara Sungrace Mafatlal Limited in Mumbai

Make the Project Report & CMA
* Fund Management.
* Fund Raising both - Debt & Equity.
* Financial & Strategic Planning.
* Knowledge of Merger & Acquisition.
* Liaising with banks and financial institutions raising funds/ Term Loan.
* Working Capit
Salary: Not Disclosed by Recruiter
Industry: Retail, Wholesale
Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
Role Category: Senior Management
Role: Head/ VP/ GM-Finance/ Audit

COMPANY TAX COSTLIER IN CHENNAI

CHENNAI: Doing business in the city just got costlier. Corporation of Chennai on Monday hiked company tax by 30 times.

Company tax levied by the corporation based on an establishment's paid up capital (for companies headquartered in the city) or profit (firms with branches here) was last revised in 1993. Officials said the rate was outdated and too low.

Private limited companies with a paid-up capital of 50 lakh and more registered with the Registrar of Companies and headquartered in Chennai will have to pay the civic body 30,000 every six months, or 60,000 every year. This is a massive hike from the 1,000 that commercial establishments were paying every six months since 1993.

CBDT notifies amendments to Capital Gains Accounts Scheme, 2012

 
CBDT notifies amendments to Capital Gains Accounts Scheme, 2012
Date - 25 Oct 2012
NOTIFICATION NO
44/2012, Dated: October 25, 2012
In exercise of the powers conferred by sub-section (2) of section 54, sub-section (2) of section 54B sub-section (2) of section 54D sub-section (4) of section 54F sub-section (2) of section 54G and sub-section (2) of section 54GB of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following Scheme to amend the Capital Gains Account Scheme, 1988, namely:-
1. (1) This Scheme may be called the Capital Gains Accounts (First Amendment) Scheme, 2012.
(2) It shall come into force on the date of its publication in the Official Gazette.

Is this the Sign of Recession ? CA Campus Placement Aug-Sept 2012 Data


ICAI had organised campus placement for newly qualified CA's in the month of August - Sept 2012. The statistics of the said campus placement is not very exciting. Only 518 candidates gets job offer out of total 9382 registered candidates. A comparative chart of last 2 campus placement is given below:    


No of Candidates registered Sep-12 Feb-12



No. of Organisations  53 76
No. of Candidates Registered 9382 9717
No. of Jobs Offered 518 874
% of job offered in terms of regd candidate 5.52% 8.99%

These numbers are giving a negative impression about the Indian CA's. Whether Candidates for upcoming ICAI elections [Dec 2012] had set up any agenda for the same ?........

Manager- Taxation by eSmart Turnkey Solutions Pvt Ltd in Mumbai

to head indirect taxation in a large company--
Salary: INR 15,00,000 - 16,00,000 P.A
Industry: Construction, Engineering, Cement, Metals
Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
Role Category: Accounts
Role: Taxation(Indirect) Manager


Desired Candidate Profile
Education: (UG - Any Graduate - Any Specialization) AND (PG - CA)

Live Webcast of “Training the Trainers in Financials Statement Analysis” - 29th Oct, 2012 to 2nd Nov, 2012. - (27-10-2012)

IFRS Certification Course at Hyderabad - Residential


Dear Sir/ Madam,

We are pleased to inform that Ind AS (IFRS) Implementation Committee of the ICAI organises courses on IFRS/ Ind AS for the benefit of members.  The Residential batch  of Certification Course on IFRS is scheduled to commence at Hyderabad from November 5, 2012 subject to minimum number of participants.  Each batch has limited seats and due to limitation of seats, the registration will be on 'first come first serve' basis.

The course aims at providing:
 
  • Introduction of the concepts of the IFRS/Ind AS
  • Diseemination of knowledge on IFRS/Ind AS
  • Comparison of IFRS with existing Indian Accounting Standards and Ind AS
  • Issues in relation to convergence with IFRS

Appointment of Auditors for Physical Verification of Central / Regional / Charged off stores of CCL

Central Coalfields Limited
Last Date : 31/10/2012
Appointment of Auditors for Physical Verification of Central / Regional / Charged off stores of CCL as on 31-12-2012 & NL/PL Reconciliation of central stores barkakana as on 01-04-2012

Address: Ranchi - Jharkhand
Phone:
Email:

Income-tax Department Seeks To End Corruption

Income-tax Department Seeks To End Corruption

The Income-tax Department is conducting a "Vigilance Awareness Week" from 29.10.2012 to 3.11.2012 in order to "sensitize its officials to the need for improving quality of public service rendered and mitigating the potential area of corruption". An interactive session will be held on 2.11.2012 at 3.00 pm to understand the "potential areas of corruption" and how to mitigate them. The ITAT Bar Association has been requested to depute its representatives to participate in the said interactive session.

REQUIRED CA AT SAHARNPUR FOR VAT REGISTRATION.

One of my client is making distributor for its company at various places in UP including Saharanpur and near by villages. At present they have made 3 dealers in and around Saharanpur

I am looking for a suitable professional who can take the assignment of registration under UP VAT at Saharanpur.

The Appellate Authority for chartered accountants has upheld the ICAI's decision to bar two auditors


The Appellate Authority for chartered accountants has upheld the ICAI's decision to bar two auditors -- P Sivaprasad and Chintapatla Ravindernath – for professional misconduct in auditing the books of erstwhile Satyam Computer Services.

The founder chairman of Satyam Computer B Ramalinga Raju had fudged the company's accounts to the tune of more than Rs 6,000 crore over a period of nine years starting from 2000.

promo video-7th Southern Regional PCS Conference

promo video-7th Southern Regional PCS Conference uploaded on you tube

No tax on eBay Intl's `business profit'

Sale of third-party products would be characterised as income from `business profits' and not fee for technical services.

The Mumbai Income Tax Appellate Tribunal in a recent decision concerning eBay International AG ruled that the revenue of the taxpayer from sale of third-party products on its Web site would be characterised as income from `business profits' and not fee for technical services, as the taxpayer did not play any role in effecting the sales apart from displaying the products. Further, the Tribunal held that the dependent agents deployed for support services in India did not create a Permanent Establishment, or PE, for the taxpayer under the `Agency PE rule', as they had no authority to conclude contracts on behalf of the taxpayer. In the absence of a PE such `business profits' were not taxable in India.

Don't repeat the question, Taxman!

The Delhi High Court in a recent decision concerning Rio Tinto India Pvt Ltd held that certain fundamental issues such as the date of commencement of a business that has attained finality in one year, cannot be reopened. The Court held that once the tax officer has assessed the income of a taxpayer in a particular assessment year, it would be unfair to make the taxpayer establish its date of commencement for every successive assessment year. The Court observed that the Revenue cannot influence its decision on the date of commencement of the business based on the fact that the income of the taxpayer over the successive assessment years has been meagre in comparison to its expenditure.

FAQs on advance pricing agreements

The Advance Pricing Agreements programme introduced by Finance Act, 2012 came into effect from July 1, 2012. Further, the Central Board of Direct Taxes announced the APA guidelines on August 31. Based on consultations and feedback, the CBDT is likely to issue more clarifications. The guidelines are likely to be in an FAQ format and expected to be released in the coming weeks.

Tuition classes under income tax survey

SURAT: Income tax (I-T) department is undertaking a survey on the premises of four private tuition class owners in different parts of the city. The survey began on Saturday and was on till Sunday evening at Towlines Road, City Light, Rander and Adjani.

"Two tuition class owners have made voluntary disclosure to the tune of Rs 1.55 crore. The survey work at the other two places is going on," said AK Gupta, PRO of I-T department. The disclosure is likely to touch Rs 5 crore, an I-T official said, adding that a huge quantity of documents have been seized from the tuition classes that coach students for professional courses like CA and IIT along with other science and commerce stream courses of schools and colleges.

Sunday, October 28, 2012

Looking for AVP/VP - Product Control (Reconciliation) - Leading Global Bank at Bangalore Exp.9-14Yrs,Qua:CA

Job Title: AVP/VP - Product Control (Reconciliation) - Leading Global Bank
 
Sector - Finance - Investment Banking, Structured Fin./Derivatives, Accounting/Audit/MIS
 
Job Responsibilities: - Manage a team of 20-30 in charge of - Accounting production, reconciliation and accounting certification for different geographies - BASEL 2 Risk & GL reconciliation and Internal Accounting balance control - Monthly P&L certification through reconciliation between IFRS and daily P&L
 
Qualification: CA

Message kept on website www.mahavat.gov.in for Builders & Developers

Message kept on website www.mahavat.gov.in

"Kind attention builders and Developers
1) Your late Returns will be validated and uploaded without paying late fees. The concession is subject to Govt. approval.
2) The newly Registered developers can make payment with quarterly periodicity for periods prior to date of registration"

CBDT Panel on Accounting Standards recommends no books be maintained in case of no taxable income

NEW DELHI, OCT 27, 2012: THE CBDT Panel on Accounting Standards has submitted its final report to the Board. This committee was constituted comprising of departmental officers and professionals in December, 2010 to inter alia suggest AS for the purposes of notification under section 145 (2) of the Act. The Committee submitted its first Interim Report in August 2011. A discussion paper containing the main recommendations of the Committee was issued in October, 2011 for inviting comments/suggestions from all stakeholders.

COST AUDIT FOR A PVT. LTD. CO.

Dear All,

One of my client pvt. ltd. co. has turnover of above 20 Crores for F.Y. 2011-12. As I have been informed that the co. has to get its cost audit done.

Pl. suggest me any cost accountant to whom I can approach for the same. What is the expected fee so that I can co-ordinate to the professional within reasonable fee structure.

Vacancy for CA industrial trainee in Deutsche Bank Group

CA Industrial Training Program
Deutsche CIB Centre, a Deutsche Bank Group company, provides extensive structuring, quantitative analytics, platform development and execution support from its location in Mumbai and regulated offices in the US and the UK. With over 600 professionals performing cutting-edge modeling, quant, analytics, and research, Deutsche CIB Centre works with Deutsche's Corporate Banking and Securities teams around the globe in delivering innovative financial solutions to international clients. This global reach provides you with huge opportunities to develop your career locally as well as globally.

Saturday, October 27, 2012

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Tenders from Reputed Competent Chartered Accountants Implementation of Double Entry Accounting System on Accrual Basis in all the Units of University

College Of Dairy Technology
Last Date : 01/11/2012
Tenders from Reputed Competent Chartered Accountants Implementation of Double Entry Accounting System on Accrual Basis in all the Units of University

Address: Chhattisgarh Kamdhenu Vishwavidyalaya Camp Office Collage of Dairy Techonology,Raipur
Phone:
Email:

List of Scams in India till now

By Gourav Kapoor

This is why we say " India is a developing country"   The following is a list of alleged scandals in the country since independence. These consists of political, financial, corporate and many others.

2012
- Coal Mining scandal - INR1,070,000 crore  
- Karnataka Wakf Board Land scam - INR200,000 crore  
- Andhra Pradesh land scandal - INR100,000 crore  
- Service Tax and Central Excise Duty scam - INR19,159 crore
- Gujarat PSU financial irregularities - INR17,000 crore  
- Maharashtra stamp duty scandal - INR640 crore  

Service Tax | Negative List regime Pdf book

Required Fresh Chartered Accountant- for South Delhi based resident

We require Fresh CA. Please send resume at:euroinfotek@gmail.com
Please note that only south Delhi Based resident will be considered.

No Permanent ITAT President for 2 Years!

Established in 1941, the Income Tax Appellate Tribunal is India's first Tribunal. Over the decades it has acquired a fairly solid reputation of efficiency and fairness. But that seems to have changed in the recent past. We've already brought you the story of alleged corruption and order fixing at the Kolkata ITAT. Today we turn our attention to the post of ITAT President. The last 3 appointments have been temporary. Why is ITAT being denied a permanent president and more importantly how is that undermining the tribunal's independence. Payaswini Upadhyay does some sleuthing.

Income Tax comes knocking on Purtis doors

The Income Tax department on Thursday started investigating the source of funds of companies that invested in BJP president Nitin Gadkaris company, Purti Power and Sugar Ltd (PPSL).

A top I-T official said prima facie shell companies (inactive firms used as vehicle for various financial manoeuvres or kept dormant for future use in some other capacity) had pumped money into Gadkaris company. We will trace the source of Purti's investor companies, he said.

TAX-FREE BONDS STILL AWAIT NOTIFICATION

TAX-FREE BONDS STILL AWAIT NOTIFICATIONThe Budget for this year had said the issue of Rs.60,000-crore tax-free bonds would be allowed, but, with just five months left in the financial year, the notification on this is yet to be issued. Last year, only five issuers were given the window to come out with tax-free bonds, totalling Rs.30,000 crore, and the finance ministry had notified the exemption in September 2011. Now, experts and officials anticipate too many issuers arriving in the market around the same time to raise double the amount. According to H D Khunteta, a retired director, finance, at Rural Electrification

IRDA (REGISTRATION OF INDIAN INSURANCE COMPANIES)(THIRD AMENDMENT) REGULATIONS, 2012 - AMENDMENT IN REGULATION 2 NOTIFICATION F.NO.IRDA/REG/2/58/2012, DATED 16-10-2012

IRDA (REGISTRATION OF INDIAN INSURANCE COMPANIES)(THIRD AMENDMENT) REGULATIONS, 2012 - AMENDMENT IN REGULATION 2
NOTIFICATION F.NO.IRDA/REG/2/58/2012, DATED 16-10-2012

In exercise of the powers conferred by sections 114A of the Insurance Act, 1938 (4 of 1938) read with section 26 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), the Authority, in consultation with the Insurance Advisory Committee, hereby makes the following regulations, to further amend the Insurance Regulatory and Development Authority (Registration of Indian Insurance Companies) Regulations, 2000, notified on 14th July, 2000 vide F. No. IRDA/Reg/7/2000 in the Gazette of India, further amended on 7th March, 2003 vide F No. IRDA/Reg/26/2003 in the Gazette of India and further amended on 13th February, 2008 vide F. No. IRDA/Reg/3/44/2008 namely:-

COMPANIES (AMENDMENT) REGULATIONS, 2012 - AMENDMENT IN REGULATION 2 NOTIFICATION NO.GSR 763(E) [F.NO.5/18/2005-CL-V], DATED 15-10-2012

COMPANIES (AMENDMENT) REGULATIONS, 2012 - AMENDMENT IN REGULATION 2
NOTIFICATION NO.GSR 763(E) [F.NO.5/18/2005-CL-V], DATED 15-10-2012

In exercise of the powers conferred by sub-sections (1), (2), (5) and (8) of section 25 and sub-section (2) of section 609 of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following regulations further to amend the Companies Regulations, 1956, namely:-
1. (1) These Regulations may be called the Companies (Amendment) Regulations, 2012.
(2) They shall come into force with effect from the 15th October, 2012.
2. In the Companies Regulations, 1956, in regulation 2, in clause (d)-

IIA Annual Conference, Mumbai

This year’s conference will feature
• Unforgettable keynote speakers from India, Asia & America’s who are respected subject-matter experts
• 10 Educational and general tracks across 2 days covering sessions on topics related to:
  – Brand building of IA profession
  – Leadership in multicultural teams
  – CAE – emerging new competencies
  – Raising the Bar of Internal Audit – Are we Rock Stars or Just Talk Stars
  – Stakeholders (Conflict) Management
  – Digital/ Non Digital Data Security
  – Cloud Computing – How Safe it is ?
  – The Power of Social Media
  – Internal Auditing in Cyber Land– Keeping up with the rapid technological changes
  – IA Value Proposition
• A program that offers more than 12 Continuing Professional Education Credits (CPEs)
• Fantastic opportunity to participate in the exclusive By Invitation only CAE Forum
Eminent Speakers
Mr Phil Tarling, Chairman IIA Inc
Mr Jaydeep Shah, President ICAI
Mr Uday Khanna, President Bombay Chamber of Commerce
Mr Mritunjay Kapur, – Country Managing Director, Protiviti Consulting
Mr Adil Buhariwala, CAE – Emirates Airlines
Mr V Swaminathan, CAE – Godrej
Mr Arvind Chopra, Group President Assurance & Cost Control – Essar Group
Ms Navita Srikant, ex-Central Vigilance Commission, World Bank, SFIO
Mr Dinesh Pillai, CEO – Mahindra SS
Mr Prashant Mali, (Advocate) - President Cyber Law Consulting
Mr Himanshu Vasa, - Kotak Mahindra Bank
Mr Radhakrishnan Pillai, – Management Guru
Mr V. Chakrapani,- HDFC Bank
Mr Sanjay Mathur, – CAE – Tata Communication
Mr K. Ganesh, - Hindustan Unilever Limited
Mr Nishith Seth, Managing Director, SSPL
Copyright © 2012 SSPL. All rights reserved. For more information visit our website www.sspl.net.in
 

Vacancy for CA/ICWA in Shipping Corporation of India


Chartered Accountants/ Cost Accountants (CA/ICWA)
Age not exceeding 27 years. Age relaxation for SC /ST/OBC/PH candidates will be given as per Govt.

How to Apply : Engineer Officers – For Junior Marine Engineers, SCI recruits B.E (Mechanical/Naval Architecture). Please consult the specific advertisements for eligibility criteria for direct recruitment.Advertisements appear in national newspapers as and when the company requires personnel. In this respect, please contact: The Executive Director, Fleet Personnel Department, The Shipping Corporation of India Ltd., Shipping House, 245, Madame Cama Road, Mumbai 400021.

General Instructions:
a) Nautical Officer – The candidate should be physically fit (as per the Merchant Shipping (MS) Rules). Eligibility 10+2 (PCM) 55% and English 50%, should qualify in the IMU entrance exam,

Manager - Accounts and Finance by IndusInd Media Communications Ltd. in Mumbai

Closely co-ordinate with local staff for day to day function
Ensure accurate / timely compilation of financial account statements of all entities
Preparation of periodic MIS Reports
Ensure statutory compliance relating to tax
Salary: Not Disclosed by Recruiter
Industry: Media, Entertainment, Internet
Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
Role Category: Accounts
Role: Accounts Manager
Keyskills:
Desired Candidate Profile
Education: (UG - B.Com - Commerce) AND (PG - CA)
Qualified Chartered Accountant with 5 Years in a service organisation. Must have exposure to financial accounting leading to finalisation of accounts and requisite compliances
Adequate working knowledge of direct / indirect taxation
Company Profile
IndusInd Media Communications Ltd.

Vacancy for CA in State Bank of Travancore

CAN THE EXPENDITURE INCURRED BY THE ASSESSEE ON TECHNO ECONOMIC FEASIBILITY REPORT FOR THE MANUFACTURE OF NEW PRODUCT BE ELIGIBLE FOR DEDUCTION UNDER SECTION 35 D ?


CIT V/S TAMILNADU ROAD DEVELOPMENT CO. LTD. (2009)

RESPECTIVE SECTION --- 35D

THE ASSESSE COMPONY ENGAGED IN THE BUISENESS OF IMPLEMENTATION OF THE INDUSTRIAL POLICY AND CREATIO
N OF INFRASTRUCTURE FACILITIES IN THE STATE OF TAMILNADU ON COMMERCIAL FRAMEWORK CLAIMED DEDUCTION IN RESPECT OF THE EXPENDITURE INCURRED ON ACCOUNT OF TECHNO ECONOMIC

JAWAHAR PARK CPE STUDY CIRCLE OF NIRC

JAWAHAR PARK CPE STUDY CIRCLE OF NIRC
OF THE INSTITUTE OF CHARTERED ACCOUNTANT OF INDIA

Dear Professional Colleagues,

...We are pleased to inform you that our study circle is organizing a TELE CONFERENCING. Detail is given hereunder:

VENUE : 214, TRIVENI COMPLEX, E-10-12,
JAWAHAR PARK, LAXMI NAGAR,
NEW DELHI-110092

On �Service Tax � Negative List�

On 31st October, 2012

from 11 AM to 1 PM

Faculty : CA. Sunil Gabhawalla, FCA

Vacancy for CS trainee at Maharashtra Polybutenes Limited

Vacancy for CS trainee at Maharashtra Polybutenes Limited (Group Companies with 2 BSE listed companies and 7 unlisted companies.) at Mahape Navi Mumbai preferably a CS Final passout but inter passed students with some work experience or excellent academics may also apply at nmchapter_wirc_icsi@yahoo.co.in

Required CS Trainee

Required CS Trainee ........
Contact: Avinash Kumar Singh (9971896365)
Email Updated CV on csavinashsingh@gmail.com 0r sudhiricai@yahoo.co.in
Address: S-524,Vikas Marg, Shakarpur, Delhi-110092
01143206730, 01122481097

Company Secretary TITAN SECURITIES LIMITED


Salary:INR 60,000 - 1,25,000 P.A
Industry: Other
Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
Role Category:Senior Management
Role:Company Secretary

GRADUATES REQUIRED FOR KARACHI

GRADUATES REQUIRED FOR KARACHI.
 
A leading industrial goup is currently looking for fresh or recently qualified Graduates having some experience in Accounts, Internal Audit, Import & Procurment, Export, Logistics, Shipping and Clearing & Forwarding.  

Winners of Forum Activator award for the weekended 27/10/2012

Winners of Free Talktime as Forum Activator award for the weekended 27/10/2012 are: 

 Gourav Kapoor Rs.10 + Rs.10 

Meenakshi Rs.10

Ishita Rs.10 

 Congratulations to all the winners and keep it up!

 To participate and win click here

Friday, October 26, 2012

FINAL REPORT OF THE COMMITTEE CONSTITUTED FOR FORMULATING ACCOUNTING STANDARDS FOR THE PURPOSES OF NOTIFICATION UNDER SECTION 145(2) OF THE INCOME-TAX ACT, 1961


FINAL REPORT OF THE COMMITTEE CONSTITUTED FOR FORMULATING ACCOUNTING STANDARDS FOR THE PURPOSES OF NOTIFICATION UNDER SECTION 145(2) OF THE INCOME-TAX ACT, 1961
PRESS RELEASE, DATED 26-10-2012
Section 145(1) of the Income-tax Act, 1961 ('the Act') provides that the income chargeable under the head "Profits and gains of business or profession" or "Income from other sources" shall [subject to the provisions of sub-section (2)] be computed in accordance with either cash or mercantile system of accounting regularly employed by the assessee. Section 145 (2) provides that the Central Government may notify Accounting Standards ('AS') for any class of assessees or for any class of income.

Understanding New Regime of Service Taxation in India

Presents
A Knowledge Master Class on
On
“Understanding New Regime of Service Taxation in India”
(Based on Issues evolved after Implementation of New Service Tax Law)
Wednesday, 31st October, 2012
9:45 A.M - 5:30 P.M.
Hotel - EROS by HILTON(Park Royal), Nehru Place, New Delhi-110019
Dear Sir/Madam,
Warm Regards from Corporate Knowledge Foundation,
New Regime of Service Taxation in India was implemented with effect from 1st July, 2012. With this all the services, except the services covered under negative list are taxable at an increased rate of 12 percent.
With the advent of the New Provisions of Service Tax, various new issues have evolved and Professionals and Assessees are facing various difficulties especially in respect of the provisions related with Reverse Charge and Works Contracts. In view of this “CKF” is organizing a Knowledge Master Class on “Understanding New Regime of Service Taxation in India” on 31st October, 2012 at Hotel – Eros By HILTON (Park Royal), Nehru Place, New Delhi-110019.
WORKSHOP CONTENTS

  • Overview of New Service Tax Regime
  • Major Changes
  • Scope of 'Service' under new regime
  • Taxation of Declared Services
  • Bundled / Composite Services
  • Negative List of Services
  • General Exemptions
  • Exemption to Specific Services
  • Place of Provision of Service Rules, 2012
  • Issues in Reverse Charge & Joint Charge Mechanism
  • Abatements / Valuation
  • Director's / Partner's Services
  • Works Contracts
 
WHO SHOULD ATTEND

  • CEOs
  • CFOs
  • Financial Heads
  • Legal Heads
  • Practicing Tax Consultants
  • Tax Payers
  • Tax Administrators
  • Business Persons
  • Corporate Lawyers
  • In house Lawyers
  • Chartered Accountants
  • Company Secretaries
  • Other Professionals
  • Service providers
  • Service Recipients
 
REGISTRATION FEES   KEY TAKEABLES
  • 7,500/- per delegate
  • 6,750/- for Registrations and payments received upto 29th October, 2012
Registration Form


To Confirm your presence Please Click here


About The Book
Senior Officials from Department of Service Tax, Eminent Professionals & Consultants involved in Service Tax Practice, will be interacting with the participants to help them to understand, analyze, interpret, and discuss on issues, challenges & practical aspects of New Service Tax Law through actual practical case studies.

All the delegates attending the workshop will be provided a book (updated upto 20th October, 2012) titled "New Law of Service Tax in India" authored by Dr. Sanjiv Agarwal and published by Snow White Publications on Complimentary basis. The book contains 1600 Pages.

The cover price of the book is Rs 1650.

The delegates shall also have the privilege to get :
  • CD of PPT of the Workshop.
  • Weekly e - Newsletter on Service Tax for 1 (One) year free of cost.
Looking forward to welcoming you at Knowledge Confluence.
Regards,
Team  Corporate Knowledge Foundation
Website www.ckfindia.org
 
For any queries with regard to Registration and sponsership :
CS Himadri Pathak
Mob: +91 9582287304
Email: himadri@ckfindia.org
Malini Mahajan
Mob: +91 9582729961
Email: malini@ckfindia.org
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