Vacancy for CA in HSBC

Associate, Finance : 00002ZAE 

Description

 

The Finance team at AMIN is responsible for financial and accounting matters including Group reporting, Audits and Tax compliance for the company. The position reports to the Chief Financial Officer and is

Vacancy for CA/ICWA/CS in IIT

Applications are invited for project position (Temporary) under the project entitled “SAMTEL CENTRE for DISPLAY TECHNOLOGIES” at Samtel Centre for Display Technologies, IIT Kanpur. The duration of

New user-friendly features in the Oct.2012-March 2013 ST3 Return F

The Offline Excel utility for filing half-yearly Service Tax return (ST 3) for the period 1st October, 2012 to 31st March, 2013 is now available in ACES. The same can be downloaded from http://acesdownload.nic.in/. It

The department has started website to update the information of auditors of Co-Operative societies and Banks

Important Communication to empanelled auditors (as on 31.07.2013)

The department has started following website to update the information of auditors of Co-Operative societies and Banks

The link for uploading the information is as follows

Service tax return in Form ST-3 is now available in ACES website for the period October 2012 to March 2013

This is to inform you that the service tax return in Form ST-3 is now available in ACES website. The return

The due date for filing return of Income has been extended

Extension of due date for filing of Returns of Income from 31.07.2013 to 05.08.2013

Vacancy for CA in L&T

L&T is one of India’s most respected companies, widely admired for its technological achievements, its professional value systems and high standards of corporate governance. The Company meets critical requirements in key sectors – infrastructure, oil & gas, power, petrochemical, chemical, mining and civil

Vacancy for CS trainees in MNH Shakti Limited (Subsidiary of Coal India Ltd.)

2 (Two) Nos. of Company Secretaries Student trainees(For 15 months) as per the training guidelines of the Institute of Company Secretaries of India at MNH Shakti Limited (Subsidiary of Coal India Ltd.)
It is located at Sambalpur.
Interested Candidates can contact:

Internship with the Competition Commission: Opportunity for Final Level CS students

Internship with the Competition Commission: Opportunity for Final Level CS students

Competition Commission of India ( CCI ) provides opportunities for internship to students of various professional courses.
A final level student of Company Secretaryship is also eligible for internship with the CCI. The guideline and form is

Vacancy for CA in Mumbai

Open Positions - Financial analyst

JOB DESCRIPTION:

The analyst will be responsible for building and updating valuation models on companies assigned from a specific sector across different markets. The analyst will analyze company's financial statements and also conduct extensive research while building/updating the valuation model. The research process employs a

Wanted practising CAs from mumbai

wanted practising CAs from mumbai

CA Inter vacancy in Emtec

Company Overview:

Why choose Emtec? If you are looking for a challenging environment where innovation is sought and where you can contribute, thrive and have “fun” - Emtec is the place to be. We foster a culture that is inclusive and collaborative with easy access to our thought leaders that can help shape your career. Our associates have continued

Vacancy for CA(Inter)/ICWA(Inter) in National Handicapped Finance and Development Corporation

National Handicapped Finance and Development Corporation

Address: National Handicapped Finance and Development Corporation, Red Cross Bhawan, Sector –12

Postal Code: 121007

City Faridabad

State Haryana

Pay Scale: Rs. 11,200-24,650 (IDA Pattern)

Educational Requirements: CA (Inter)/ICWA (Inter)/B. Com from recognized institute/university

DOWNLOAD CA FINALS NOTES ON AUDITING BY SURBHI BANSAL MAM

Click here to view

Prabhat Jha writes to Chidambaram against I-T officials

Prabhat Jha writes to Chidambaram against I-T officials
Suchandana Gupta, TNN | Jul 29, 2013, 08.32 PM IST

BHOPAL: The BJP's national vice-president PrabhatJha on Monday wrote a strong-worded letter to Union finance minister P Chidambaram, vehemently denying that his flight tickets were sponsored by Madhya Pradesh based businessman and mining king Sudhir Sharma. On Saturday, a national daily broke the story from New Delhi that flight tickets of RajyaSabha member PrabhatJha and RSS general secretary Suresh Soni were paid by Sudhir Sharma.

The newspaper report was based on a confidential income tax department appraisal report of raids conducted in the residential and official premises of Sudhir Sharma and a construction honcho Dileep Suryavanshi two years ago.

In his letter, an irate Prabhat Jha threatened to move breach of privilege in the Rajya Sabha against two income tax officials whose intension he said was to defame a BJP vice-president''. Has the income tax department been given the authority to defame a member of Parliament and a citizen on baseless accusations? Is it not known to the IT department that as an MP I am entitled to 38 free flight tickets annually? I can still make some 40-50 such flight travels left-over in my quota. So why should I ask for someone else to purchase tickets for my travel?'' Jha asked.

Jha alleged that the IT department purposely defamed him with baseless accusations and then leaked its report with the intention of maligning and targeting the BJP under orders from the Congress-led UPA Centre. Raising various questions on how a confidential document under the possession of the income-tax department can get leaked to the media, he asked the Union finance minister to initiate prompt action against the income-tax officials responsible for the entire conspiracy.

He further wrote: We have a request for you since we consider this a matter of breach of privilege of a member of Parliament as also of the Parliament. When we give a breach of privilege notice against the two income tax officials to the chairman of the House for protection, you will stand as a protector.''

VAT E-filing Date Extended

VAT E-filing Date Extended to 6th August 2013

DRAFT PRESS RELEASE:CORRUPTION IN THE SELECTION OF AUDITOR OF IN GOVT. SECTOR

* DRAFT *PRESS
RELEASE

*CORRUPTION IN THE SELECTION OF AUDITOR OF GRAM PANCHAYAT AND PANCHAYAT
SAMITI AND OTHER GOVT. SECTOR: BY CA NITESH MORE*

Mahatma Gandhi's dream of Panchayati Raj is in danger.PM of India has
already accepted that only 15-20% of money reaches in the hands of poor
(targeted) persons. Auditor's are being appointed for Gram Panchayat,
Panchayat Samiti etc and *other Govt. sector, ALL OVER INDIA*. There is no
standard procedure for selection of auditor all over country. Collectors
had vested with the wide power and can appoint any one of His desire who
participated in tender. This has lead to corruption in the process of
selection of Auditor.

*WHAT SHOULD BE APPOINTMENT AND SELECTION PROCESS?*

There should be *uniform standardized procedure and basis *for selection
of auditor for govt sector. Such basis should be framed and disclosed to
the CA community. Power of arbitrary appointment to collector is not good
for the health of Domocracy in the country. *Fees should be predetermined *in
the tender and should be *fixed in consultation with ICAI*. Invitation
(tender)should be only to make a data base of who is interest to
audit. *Principal
of equal distribution of work* should be followed and work should be
distributed among CAs on rational basis, which if implemented will leave
less scope of corruption in the selection of appointment of auditor. Again,
Central Govt. should appoint auditor instead of collector. In many cases,
collector demands EMD and application fees. As for Example, In Angul


*ISSUES IN ANGUL DISTRICT*:

For participation in tender for Panchayat Audit in Angul District (last
date: 29 July, 2013: SEE ATTACHMENT):

· Rs 30000 is being demanded as Earnest Money

· Rs 1050 is being demanded as cost of application form, even if
application form is available for download from web site

· So, If 100 CA participate in tender, than they will make money
of 1 lakh (1000 X 100) from us.



*CONTACT DETAILS:*

CA ARVIND AGARWAL, COLLECTOR, ANBUL DISTRICT: 9437572567



*MY QUESTIONS:*

1) SHOULD APPOINTING AUTHORITY MAKE MONEY FROM CAs?

2) ARE CAs A CONTRACTOR AS DEPOSIT MONEY IS BEING DEMANDED?


*MY APPREHENTIONS:*

1) OTHERS WILL DEMAND IN FUTURE AS ANGUL HAS DEMANDED EARNEST MONEY AND
FEES FOR FORM.

2) QUANTUM of EMD and form fees CAN BE INCREASED IN FUTURE.



*QUESTIONS TO BE ASKED TO CENTRAL GOVT. , STATE GOVT. , PANCHAYATI RAJ
DEPARTMENTS AND COLLECTORS:*

1) Why do you appoint auditor by tender process? Why do not you fix the
fees of auditor and only invite application from CAs to select auditors ?
Why the recommendation of finance commission for a fees of 1500/ month for
audit of gram Panchayat etc is violated?

2) Why some collectors are taking deposit money, however others are not
taking EMD and

2) Why collector of Angul district is charging 1050 as fees of form
while, others are generally charging form fees of Rs 104?

3) So, if 100 CAs participate in tender, than you will make money of 1
lakh (1000 x 100). Should you make money from appointment of auditor?

4) Are CAs a contractor as you are asking for EMD of Rs 30000?

5) Don't you think that asking EMD is not good for independence of
auditors?

6) Even companies act requires that a ca who is indebted to company or
holding securities cannot be appointed as auditor. how can you impose EMD?
Is this not violation of international practice of appointment of auditors?

7) What parameters they use to judge the quality need for the work and
quality which a CA participating in tendering process?

*8) If you do not have parameters, why you do not ask ICAI to help in the
matter? *

*CA.Nitesh Kumar More* | FCA, |

*Mobile: -* +91 9883157484 | +91 9674974186 | *Tel: -* +91 33 32562967 |

Scheme of rehabilitation — Waiver of interest — Jurisdiction — Assessee-company

Lord Chloro Alkalies Ltd v Director General of Income Tax (Admn) and Anr,

Scheme of rehabilitation — Waiver of interest — Jurisdiction — Assessee-company was declared sick — BIFR directed winding up of company — During pendency of appeal, department preferred application claiming its income tax dues from assessee-company — BIFR circulated Draft Rehabilitation Scheme with broad acceptance of company's secured creditors–Income tax relief and concessions were provided to assessee in respect of interest on income tax liability — Revenue had argued that BIFR was not justified in scaling down interest–Department's appeal was allowed and order of BIFR was set aside — Held, in case of Aswini Kumar Ghosh & anr v Arabinda Bose & Anr in s 32 of SICA, specific exclusion of two enactments, and express reference to s 72A of IT Act , to say that provisions of SICA have to prevail over those of IT Act — In case of Mewar Sugar Mills Ltd v Chairman, Central Board of Direct Taxes & anr it was held that non obstinate clause contained in sub-s (1) of s 32 of SICA does not give SICA blanket overriding effect on all other laws — Overriding effect is given to provisions of SICA, rules or schemes made thereunder only to extent of inconsistency therewith contained in any other law excepting a few exceptions enumerated therein — It is for BIFR to form opinion while framing scheme of rehabilitation for sick industry whether exemption from operation of s 41 is required to be engrafted in scheme so as to secure object of rehabilitation and if so then to what extent — If BIFR may form opinion in favour of grant of such exemption then same amounts to "financial assistance" from central govt to extent of sick industry having been exempted from operation of s 41.

IT: Sec. 11 exemption allowed to educational institution providing continuing ed

IT: Sec. 11 exemption allowed to educational institution providing continuing education and diploma programs



[2013] 35 taxmann.com 150 (Ahmedabad - Trib.)

IN THE ITAT AHMEDABAD BENCH 'D'

Ahmedabad Management Association

v.

Joint Director of Income-tax (Exemption), Ahmedabad*

Competition Act: Where informant had many options when it entered into franchise

Competition Act: Where informant had many options when it entered into franchise agreement with opposite party for selling packaged drinking water and soda, no case of abuse of dominance by opposite party was made out



[2013] 35 taxmann.com 256 (CCI)

COMPETITION COMMISSION OF INDIA

Official Beverages

v.

SAB Miller India, SKOL Breweries Ltd.

Patna Income Tax detects Rs 41 Cr undisclosed income

Patna Income Tax detects Rs 41 Cr undisclosed income


PATNA, JULY 29, 2013: THE Income Tax (Investigation) has raided one leading steel company manufacturing ingot and silico manganese. As per the I-T sources, the total disclosure of unaccounted wealth was made to the tune of Rs 41 Cr by the companies of a well knwon Group in Eastern India. A total seizure of Rs. 1.58 crores consisting of Rs. 76 lakh cash and Rs. 82 lac jewellery ) was made.

As per the documents seized, the sources say that the assessee has done large-scale suppression of sales and the money generated out of books were pumped into sister concerns in the form of share capital. The entire transactions have allegedly been managed through a web of fake companies, which was verified by Surveys u/s 133A done in Kolkata.

"4 Body Language Secrets To Remember In Networking For Clients"

Body language can be extremely powerful when it comes to networking
<http://www.entrepreneur.com/marketing/networking/index.html> and
building relationships with others. Within the first seven seconds of
meeting you, people check you out visually. Could you be unknowingly
undermining your networking efforts through your body language
<http://www.entrepreneur.com/article/37810> ? If you are meeting with
new prospects/clients or planning to host an event, you'd better make
sure you are not discouraging people from approaching you with your body
language. Here are four key factors to keep in mind: 1. Eye contact.
Some of the most powerful and successful professional leaders in the
world are known for the impressions they make during face-to-face
meetings. Their gaze never wavers from the eyes of the person they are
speaking with, making them feel as if they are the most important person
in the room. With a little practice, anyone can do this. Are you
making good eye contact throughout the conversation? Or are you looking
behind the person to see who else is in the room? 2. Arm movement. If
you are speaking to someone and your arms are in a position that gives
even a subliminal hint that you're not interested, you're not going
to give off a positive impression. What are your arms doing? Are they
folded, signifying boredom, or tucked behind your back, indicating
interest? 3. Your stance. Make an effort to stand in a manner that is
open and welcoming, rather than blocking people out of your
conversation. Are you leaning on something, as if bored or tired? Are
you unable to shake hands because you're juggling a plateful of food?
Incidentally, never load your plate so much as to repel people!
Remember: you are there to attract not repel! Aah! Never eat with your
hands in such functions( how the hell are you then going to shake
hands?). 4. Facial expressions. Maintaining an interested facial
expression goes hand in hand with maintaining eye contact. Are you
smiling, or holding back a yawn? Are you showing interest? What does
your face say? It should go without saying that yawning while someone
is talking to you is a best way to shut them down immediately, yet I
have seen this happen more times than I can count while observing
conversations at networking events. Remember that much of your future
networking success rides on how you come across in that first encounter.
You want people to perceive you as alert, interested, knowledgeable and
trustworthy. Try these two actions in the next few weeks to help
ensure that you are making positive and powerful first impressions:
1. Look in the mirror before leaving the house and ask yourself:
"What message am I sending to people meeting me for the first time? What
opinions will they have of me before I even open my mouth?"
2. Become more aware of your body language by getting feedback. What
are you saying without speaking a word? Before you host your own event,
take a trusted friend with you to a networking function and ask them to
give you honest, direct feedback on your body language. Provide them
with a small checklist of the four factors discussed above and be
prepared for their honest insights.
A little thinking can go a long way to helping you present yourself in
the best way possible and thereby increasing your client base. Base
Article by Ivan Misner. CA Grooming: "4 Body Language Secrets To
Remember In Networking For Clients"

ST: Where assessee has deposited demand during investigation stage and contested issue before higher judicial for a including Tribunal, principle of unjust enrichment is inapplicable to refund of such 'deposit' made

ST: Where assessee has deposited demand during investigation stage and contested issue before higher judicial for a including Tribunal, principle of unjust enrichment is inapplicable to refund of such 'deposit' made



[2013] 35 taxmann.com 242 (Ahmedabad - CESTAT)

CESTAT, AHMEDABAD BENCH

Aadishwar Motors (P.) Ltd.

v.

Commissioner of Service Tax, Ahmedabad*

IT : In absence of any independent material, statement of assessee's son recorde

IT : In absence of any independent material, statement of assessee's son recorded during survey would not form a valid basis for reopening assessment of assessee



[2013] 35 taxmann.com 264 (Gujarat)

HIGH COURT OF GUJARAT

Commissioner of Income-tax

v.

Shardaben K. Modi*

Job For CA

We required C.A who have more than 10 year experience .

Industry. Sugar Mill and Rice

Location Punjab and UP

Salary 18 lac -24 Lac approx

Required cv urgently oppvtltd@gmail.com

For any queries ,don't hesitate to contact us

Regards,

Akash Bathla

Sahara Placement (since 1996 )

Near Axis Bank G T Road Panipat Haryana

91-999-143-0004

91-9315491588

Members face problems while submitting MEF application form

Starting page (Registration page) cursor is not movimg from dd to mm and to yyyy automatically after filling the dd and mm. (this is the case at every page where date is to be filled) Once registered after filling the firm registration no. and registration date next screen is again asking the ...read more

Third Proviso to sec. 194H has retro effect

IT: BSNL was not required to deduct tax at source under section 194H pertaining to assessment years prior to insertion of third proviso to section 194H with effect from 1-6-2007 as said amendment is a clarificatory amendment and would be applicable even in respect of assessment years prior to in...read more

ESOP: Being Used As A Double Edged Sword By The Department

ESOP: Being Used As A Double Edged Sword By The Department

The authors have carefully studied the recent landmark judgement of the Special Bench in Biocon Ltd on the deductibility of ESOPs in the hands of the employer and identified several important aspects in it. They argue

GOODS AND SERVICE TAX REPORTS (GSTR) Volume 21 Part 5 (Issue dated 29-7-2013)

GOODS AND SERVICE TAX REPORTS (GSTR)

Volume 21 Part 5 (Issue dated 29-7-2013)

SUBJECT INDEX TO CASES REPORTED IN THIS PART

HIGH COURTS

Customs duty --Writ petition--Maintainability--Misdeclaration of goods--Show-cause notice--Whether imported goods steam coal or bituminous coal--Is question of fact--To be agitated in proceedings pursuant to show-cause notice--No plea of inherent lack of jurisdiction or violation of principles of natural justice by adjudicating authority--No interference called for at stage of show-cause notice--Petition dismissed--Customs Act, 1962--Constitution of India, art. 226-- Binani Cement Ltd. v. Union of India (Guj) . . . 383

Excise duty --Appeal to Appellate Tribunal--Appeal by Department--Limitation--Order directing filing of appeal to be passed within one year from date of adjudication--No proof to show that Board passed order within one year--Appeal filed before Tribunal barred by limitation--Central Excise Act, 1944, s. 35E(3)-- CCE v. Millipore (I) P. Ltd. (Karn) . . . 398

----Appeal--Appeal to Appellate Tribunal--Delay in filing appeal--Condonation of delay--No proof of service of copy of order on day of pronouncement of order in November 2003--Contention that knowledge of order in month of January 2005 to be accepted--Sufficient explanation for condonation of delay--Delay condoned--Central Excise Act, 1944, s. 35G-- Saraya Sugar Mills Ltd. v. CCE (All) . . . 392

----Penalty--Non-payment of differential duty--Failure to pay differential duty on ground of permanent closure of unit--Penalty not leviable--Appellate authority and Tribunal erring in reducing penalty--Assessee not preferring appeal to High Court--Relief cannot be granted--Central Excise Rules, 1944, r. 96ZP(3)-- Commissioner of Customs and Central Excise v. Corrufab P. Ltd. (All) . . . 388

----Recovery of duty--Show-cause notice--Extended period of limitation--Notice issued alleging that marketing pattern not disclosed by assessee--Earlier decision rendered in case of company belonging to assessee's group with similar allegations--Finding that Department aware of marketing pattern of assessee--Finding of fact--Show-cause notice issued beyond normal period barred by limitation--Central Excise Act, 1944, s. 11A-- CCE v. Polar Industries Ltd. (All) . . . 395



CUSTOMS, EXCISE AND SERVICE TAX APPELLATE TRIBUNAL

Customs duty --Classification of goods--Opinion of chemical testing laboratories--Only as to chemical composition of product and not regarding classification of product--Gas condensate imported whether "refined petroleum product" or "crude petroleum oil"--Existence of competing customs tariff headings for goods of similar chemical composition--Classification to be decided under rule 3(c)--Failure to establish natural origin of gas condensate--Goods classifiable under Customs Tariff Heading 2710--Customs Tariff Act, 1975, Sch. I, General Rules of Interpretation, r. 3--Customs Tariff Act, 1975, Headings 2709, 2710-- Paswara Impex Ltd. v. Commissioner of Customs (Ahd) . . . 329

----Customs house agent--Forfeiture of security--Failure by importers to re-export goods within six months--No proof that agent acted mala fide--Action taken against agent without sufficient cause--Order set aside--Customs House Agents Licensing Regulations, 2004, regln. 13(a), (d)-- Natvar Parikh and Co. P. Ltd. v. Commissioner of Customs (Chennai) . . . 367

----Imported goods--Assessable value--"Condensate"--Gas condensates not standard products with composition varying from source to source--No proof that value repatriated in addition to transaction value paid to supplier of goods and chemical test reports not made available--Contemporary imports relied on to reject transaction value and enhance assessable value not proper--Customs Act, 1962-- Paswara Impex Ltd. v. Commissioner of Customs (Ahd) . . . 329

----Improper export--Penalty--Actual exporter different from company in whose name red sanders exported--Absence of evidence establishing involvement of company in smuggling of red sanders and neither show-cause notice nor order alleging omission and commission on its part--Responsibility cannot be passed on company for misuse of its import-export code by actual exporter--Order imposing penalty set aside--Customs Act, 1962, s. 114-- Marvelous Engineers P. Ltd. v. Commissioner of Customs (Export) (Mumbai) . . . 370

----Improper export--Penalty--Customs house agent--Omission to ascertain genuineness of transaction--Imposition of penalty sustainable--Quantum of penalty to be commensurate with gravity of offence--Customs house agent having no knowledge about goods under export and not actively participating in facilitating illegal transaction--Nominal and reasonable penalty to be imposed--Penalty reduced--Customs house agent owning responsibility for omission--No need to impose separate penalty on its employee--Customs Act, 1962, s. 114--Customs House Agents Licensing Regulations, 2004-- Marvelous Engineers P. Ltd. v. Commissioner of Customs (Export) (Mumbai) . . . 370

----Improper export--Penalty--Freight forwarder--Freight forwarder undertaking transaction based on e-mail received but failing to verify actual existence of company in whose name goods exported--Export documents received from fictitious company in respect of seven transactions and container provided by it misused for smuggling prohibited goods--Amounts to omission--Liable to penalty--No deliberate involvement in smuggling prohibited goods--Penalty to be reduced--Separate penalty imposed on its director, set aside--Customs Act, 1962, s. 114-- Marvelous Engineers P. Ltd. v. Commissioner of Customs (Export) (Mumbai) . . . 370

----Misdeclaration of goods--Confiscation and penalty--Assessees having knowledge that goods were good quality petroleum oil classifiable under Customs Tariff Heading 2710 19 90 but misdeclaring as crude oil condensate--Confiscation and imposition of penalty proper--Penalty restricted to differential duty sought to be evaded--Customs Act, 1962, s. 111(a)-- Paswara Impex Ltd. v. Commissioner of Customs (Ahd) . . . 329

Excise duty --Assessable value of goods--Installation and testing charges to form part of assessable value--No proof of separability of contract for exclusion of installation and testing charges in assessable value of goods supplied--Imposition of penalty and charging of interest, proper--Central Excise Act, 1944, s. 11AC-- Sukalp Agencies v. CCE (Delhi) . . . 350

----Cenvat credit--Wrongful availment of credit--Conclusion of adjudication by summary order without thorough analysis of composition of different inputs for each year--Reasoned and speaking order warranted--Matter remanded--Central Excise Act, 1944-- Satyam Industries v. CCE (Delhi) . . . 364

----Clandestine removal of goods--Penalty--Goods removed against invoice of previous year without depositing duty before detection by investigation--Immunity from penalty cannot be granted--Demand of duty and imposition of penalty proper--Direction to verify deposit if already made and appropriate that amount against demand and recovery of short fall--Central Excise Act, 1944, s. 11AC-- Sukalp Agencies v. CCE (Delhi) . . . 350

----Clandestine removal of goods--Penalty--Interest--Allegation of overlapping of demand of duty--No proof to controvert allegation as baseless--Demand of duty reduced--Assessee not exonerated from payment of interest and penal consequences--Interest payable from date of removal of goods till date of reversal by debit entry--Motive of removal attributable to mala fides--Imposition of penalty confirmed--Central Excise Act, 1944-- Sukalp Agencies v. CCE (Delhi) . . . 350

----Clandestine removal of goods--Penalty--Interest--Goods cleared without being entered in statutory record and without excise invoice--Breach deliberate--Demand of duty confirmed--Authority to appropriate deposit and calculate interest payable--Penalty imposed confirmed--Central Excise Act, 1944-- Sukalp Agencies v. CCE (Delhi) . . . 350

----Compounded levy scheme--Rebate of duty--Interest on delayed payment--No distinction under section 11B regarding duty charged under section 3 or 3A--Excess amount to be refunded subject to section 11B--Commissioner competent authority to sanction rebate and not Assistant/Deputy Commissioner--Claim applications sanctioned belatedly by Commissioner to be treated as applications for refund--Assessee eligible for interest from date of application for refund and from date of claim for interest consequent to sanction of refund--Central Excise Act, 1944, ss. 3, 3A, 11B--Central Excise Rules, 1944, r. 96ZQ(7)-- Janson Textile Processors v. CCE (Chennai) . . . 345

----Evasion of duty--Penalty--Contumacious conduct and oblique motive of representative of assessee established--Proof of mass-scale evasion of duty on different counts--Imposition of penalty, proper but reduced to Rs. 1 lakh--Authorised signatory of assessee's knowledge attributable to evasion--But absence of pre-meditated mind to cause evasion--Penalty imposed reduced to Rs. 10,000--Central Excise Act, 1944, s. 11AC-- Sukalp Agencies v. CCE (Delhi) . . . 350

----Exemption--Small-scale industrial unit--No proof of exemption claimed deliberately to cause prejudice to Department--Difficulty in interpretation of exemption notification--Imposition of penalty not sustainable--Central Excise Act, 1944, s. 11AC-- Sukalp Agencies v. CCE (Delhi) . . . 350

----Short-payment of duty--Sale value of finished goods higher than assessable value causing short-levy of duty--Assessee claiming to carry on two different activities of trading and manufacturing--Failure to find out existence of two activities--Law cannot be applied whimsically or capriciously--Matter remanded--Central Excise Act, 1944-- Sukalp Agencies v. CCE (Delhi) . . . 350

Service tax --Cenvat credit--Input service--Admissibility of credit claimed--Connection between service claimed as input service with manufacture/output service--Enquiry by adjudicating authority from service provider--Scope of--On facts matter remitted to adjudicating authority--Cenvat Credit Rules, 2004-- Hero Motocorp Ltd. v. CCE (Delhi) . . . 360

Vacancy for CA in IBM

Job ID S_D-0595464 Job type Full-time Regular Work country India Position type Professional Work city Bangalore Posted 26-Jul-2013 Travel No travel Job area Finance & Accounting (non consulting) Business group IBM Sales & Distribution Job category Finance Business unit Finance Job role Accounting System Analyst Job role skillset Financial Systems Commissionable/Sales-Incentive jobs only No
Job description
This job role includes: Region Scope: GMU BS Line items to be covered: Other Assets, Other Liabilities and Taxes Scope of work Monthly closing (WD2-WD8) - from WD2 track daily closing status for the above balance sheet line items and investigate unusual items and correct any accounting errors timely - Analyse actual variances - YTY, MTM, and against commitment - Work with GMU services FAs and accounting on balance sheet brand segmentation for OA, OL - For quarter closing : call out daily to-go based on what is in the ledger and prepare for GMU and CHQ review on actuals on WD8. Monthly Forecast (around week 3 of the month) - On Taxes, interlock with the GMT tax team and CHQ tax On the quarter tax payments and any other unique tax items. - OA/OL - interlock with services team, expense team on any unusual items for the quarter - Based on prior month actuals, and the known forecast items, analyse and forecast accurately the quarter commitment. - Participate & highlight FCF risks/opportunities in monthly forecast reviews ( 3 reviews per mth: forecast walk through with me, reviews with Jeanette & Ed Shay, and lastly with CHQ Treasury). Spring Plan, Fall Plan & GMT budget setting exercise - Interlock with Tax, services and expense planning team on budget assumptions - Interlock with WW services brand to understand services GMU target and highlight risks/opportunities accordingly - Work with GMU services team to cut GMT budget and resolve differences - Maintain proper balance sheet brand segmentation for OA, OL - Load budget into apex - Reviews budget deployment with me, reviews with Jeanette & Ed Shay, and lastly with CHQ Treasury. Region Scope: ISA Trade finance, Reporting & Forecasting Trade Finance - Support business and finance teams in trade finance from requirement analysis till completion of trade - MIS of Bank Guarantee, LC along with detail validations Reporting - Single point of contact on all reporting - Develop MIS and strategy in existing report and enhancing the utility Charges - Validate all the charges incurred through all banks across ISA. - Participate in regional and global process improvements Forecasting - Compile, analyse & perform cash flow movements across all active entities within the region - Arrive at meaningful MIS along with decision points for improvement on cash flows
Required Bachelor's Degree At least 3 years experience in CA/MBA (Finance) English: Intermediate
Preferred Master's Degree in Accounting/Finance Certified in CA/MBA
Additional information Role will be responsible for Balance Sheet & Bank Guarantee management from Treasury perspective
IBM is committed to creating a diverse environment and is proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status. Click here to Apply

2013 Investment Banking Summer Analyst - Sydney

Position Description

Morgan Stanley is a worldwide leader in investment banking and is one of the top firms in Mergers & Acquisitions (M&A), underwriting of equity and equity-related transactions, corporate debt issuance and high-yield debt financing. With over 2,000 professionals in 30 countries, we are consistently recognized for

Audit reporting set for marked change in Australia

The Institute of Chartered Accountants Australia (ICAA) supports measures that seek to enhance the understanding of the value of audit, discussed in new reform proposals from the International Auditing and Assurance Standards Board (IAASB).
The proposals to change the way auditors report include a requirement for auditors of large entities to

SAICA recommends that careful considerations should be made regarding mandatory rotation of audit firms

Johannesburg, Monday, 22 July 2013 –The objective of the EU Green Paper is to enhance the regulation of the audit function in order to contribute to increased financial stability. It proposes measures to stabilise the international financial system as a direct aftermath of the international financial crisis.
Auditors have an important role to play and are entrusted by law to conduct statutory audits. This

SAIPA & SAICA Article Clerks: Vacancies in BERNARD SHAW AUDITORS INC

BERNARD SHAW AUDITORS INC., a dynamic firm of auditors and accountants, currently has a vacancy for a new SAIPA and SAICA trainee accountant for next year.

We are a dynamic small to medium firm situated in Techno Park, Stellenbosch, with a wide range of clients

Vacancy for CA in Novartis

Posting Title	Financial Analyst
Division	Over The Counter
Business Unit	Over The Counter
Country	India
Work Location	Thane
Company/Legal Entity	Novartis India Limited, Hiranandani Estate, Thane
Functional Area	Finance
Job Type	Full Time
Employment Type	Regular
Job Description	Job Purpose : Financial Analyst is responsible for preparation of Budget, Monthly Reports (Qualitative & Quantitative), Latest Estimates, assisting in preparation of 5-year Strategic Plan. Key

Vacancy for CA / ICWA in HDFC Bank

Position	Credit Manager
Work Location	Mumbai
Date Posted	Friday, July 26, 2013

Vacancy for Director Finance in Replicon

Position:  Director of Finance

Location:  Bangalore, India

Job Id:  BLR-FNCE-VPF

# of Openings:   1

Position Overview The successful candidate will provide leadership and coordination of company financial planning and ensure company accounting procedures and reporting conform to GAAP and internal controls. Key Responsibilities: Accountable for financial planning and budget management functions.  Be responsible for monitoring and analysis of monthly operating results against budget  Manage the preparation of all financial reports , considering multiple currencies. Manage the preparation of financial outlooks and financial forecasts  Prepare financial analysis for contract negotiations and product investment decisions  Ensure compliance with local, state and federal budgetary reporting requirements for US, Canada, India , Australia and UK. Work with department managers to develop business plans  Design, establish and maintain an organizational structure to effectively accomplish department goals and objectives  Coordinate financial audits and provide recommendations for procedural improvements  Qualifications: Degree in Finance, Accounting or Business with strong accounting experience . Eight (8) to ten (10) years experience in a mid to senior level finance or accounting position and CA or CPA.  Knowledge of finance, accounting, budgeting and cost control principles including Generally Accepted Accounting Principles  Knowledge of automated financial and accounting reporting systems  Knowledge of Canadian and United States financial regulations  Ability to analyze financial data and prepare financial reports, statements and projections. Knowledge of India and International taxation including transfer pricing and service tax Flexibility to work multiple time zones. Click here to apply

T : Royalty for technical know-how provided by foreign collaborator/trade mark owner was not liable to service tax under reverse charge prior to introduction of section 66A from 18-4-2006

ST : Royalty for technical know-how provided by foreign collaborator/trade mark owner was not liable to service tax under reverse charge prior to introduction of section 66A from 18-4-2006



[2013] 35 taxmann.com 285 (Mumbai - CESTAT)

CESTAT, MUMBAI BENCH

Pheonix Appliances (P.) Ltd.

T: Notional difference in maintenance expenditure on account of change in accounting procedure could not be adjusted in book profits, since same does not fall within adjustments as provided in Explanation 1 to section 115JB

IT: Notional difference in maintenance expenditure on account of change in accounting procedure could not be adjusted in book profits, since same does not fall within adjustments as provided in Explanation 1 to section 115JB



[2013] 35 taxmann.com 291 (Hyderabad - Trib.)

IN THE ITAT HYDERABAD BENCH 'B'

G. V. K. Industries Ltd.

v.

T/ECJ : Even if an insurance sub-broker/sub-agent does not have a direct relationship with parties to insurance or reinsurance contract, he may claim exemption available to insurance agents

-

ST/ECJ : Even if an insurance sub-broker/sub-agent does not have a direct relationship with parties to insurance or reinsurance contract, he may claim exemption available to insurance agents



[2013] 33 taxmann.com 159 (ECJ)

EUROPEAN COURT OF JUSTICE

J.C.M. Beheer BV

IT: Failure to furnish complete details regarding donors would result in denial of registration as a charitable trust

IT: Failure to furnish complete details regarding donors would result in denial of registration as a charitable trust


[2013] 35 taxmann.com 295 (Punjab & Haryana)

HIGH COURT OF PUNJAB AND HARYANA

Commissioner of Income-tax, Rohtak

v.

Savior Charitable Trust*

IT : Reassessment to disallow capital loss allowed earlier not justified

IT : Reassessment to disallow capital loss allowed earlier not justified



[2013] 35 taxmann.com 294 (Karnataka)

HIGH COURT OF KARNATAKA

Commissioner of Income-tax, Central Circle

v.

Mysore Cements Ltd.*

Vacancy for CA/ ICWA/ CS in SEBI

Executive Director

Securities and Exchange Board of India (SEBI)

Address: Plot No.C4-A, G Block Bandra-Kurla Complex Bandra (East)

Postal Code: 400051

City Mumbai

State Maharashtra

No S. 14A/ Rule 8D Disallowance For Specific Loans: ITAT Chennai

The following important judgement is available for download at
itatonline.org.


ACIT vs. Best & Crompton Engineering Ltd (ITAT
Chennai)<http://itatonline.org/archives/?p=7025>

*S. 14A/ Rule 8D: Interest on loans for specific taxable purposes to be
excluded
*

In AY 2009-10, the assessee contended that in computing the disallowance to
be made u/s 14A and Rule 8D(2)(ii), the interest on bank loans and term
loans taken for specific taxable purposes had to be excluded. The AO
rejected the claim though the CIT(A) accepted it. On appeal by the
department to the Tribunal, HELD:

Rule 8D(2)(ii) refers to expenditure by way of interest which is not
directly attributable to any particular income or receipt. If loans have
been sanctioned for specific projects/expansion and have been utilized
towards the same, then obviously they could not have been utilized for
making any investments having tax-free incomes and have to be excluded from
the calculation to determine the disallowance under Rule 8D(2)(ii) (*Champion
Commercial Co. Ltd<http://itatonline.org/archives/index.php/acit-vs-champion-commercial-co-ltd-itat-kolkata-s-14a-rule-8d2ii-interest-incurred-on-taxable-income-has-also-to-be-excluded-to-avoid-incongruity-in-view-of-departments-stand-before-high-c/>
* (ITAT Kol) followed)

*Note*: In *Champion Commercial
Co<http://itatonline.org/archives/index.php/acit-vs-champion-commercial-co-ltd-itat-kolkata-s-14a-rule-8d2ii-interest-incurred-on-taxable-income-has-also-to-be-excluded-to-avoid-incongruity-in-view-of-departments-stand-before-high-c/>
* it was held that though the words in Rule 8D(2)(ii) are rigid, they had
to be modified in view of the stand taken by the revenue before the Bombay
High Court in *Godrej & Boyce Mfg
Co<http://itatonline.org/archives/index.php/godrej-boyce-vs-dcit-bombay-high-court-rule-8d-r-w-s-14a-2-is-not-arbitrary-or-unreasonable-but-can-be-applied-only-if-assessees-method-not-satisfactory-rule-8d-is-not-retrospective-and-applies/>
* 328 ITR 81 that any expenditure by way of interest which is directly
attributable to any particular income or receipt would be excluded.

*(Click Here To Read More <http://itatonline.org/archives/?p=7025>)*

ADVISORY FOR MULTIPURPOSE EMPANELMENT FORM (MEF) FOR THE YEAR 2013-14

This is to inform that Multipurpose Empanelment form for the year
2013-14 (including form for empanelment of Bank Branch Auditors' for tyear 2013-14) has been hosted on the website
<http://icai.ind.in/newsletter/lt.php?c=2364&m=1878&nl=752&s=dbc4b6f6baa704b
9f2679c3b2ad2b393&lid=8076&l=-http--www.meficai.org> www.meficai.org. Last
date for submission of online applications on
<http://icai.ind.in/newsletter/lt.php?c=2364&m=1878&nl=752&s=dbc4b6f6baa704b
9f2679c3b2ad2b393&lid=8076&l=-http--www.meficai.org> www.meficai.org is 26th
August, 2013



ADVISORY FOR MULTIPURPOSE EMPANELMENT FORM (MEF) FOR THE YEAR 2013-14





1. Members are advised to submit the MEF as the Institute will be providing
the requisite information from this panel only to all the requesting
authorities.



2. Last date for submission of applications on the website
<http://www.meficai.org> www.meficai.org is 26thAugust,

2013. Members are advised to fill MEF well in advance to avoid last minute
rush.



3. Please use Internet Explorer 6.0/ Mozilla Firefox 7.0 or later versions
to fill MEF 2013-14.



4. The information filled in by the applicant in MEF can be edited/modified
any number of times before online submission.



5. All correspondence, acknowledgement, discrepancy letters, etc. will
preferably be through e-mail only. Please fill up e-mail id correctly and
ensure that it is active.



6. It is in the interest of the members to provide correct contact details
i.e. telephone number, e-mail and keep track of these as and when allotment
procedure starts.



7. Unique Code Number (UCN) is very important as it facilitates compiling
the applicants' bank audit experience. Therefore, an applicant must ensure
that correct UCN appears in the MEF.



. If the applicant has never been allotted UCN at any point of time, we
would like to inform that UCN will be allotted to all (first time) eligible
firms/Members at the time of preparation of the Bank Branch Auditor's Panel.



. If UCN was allotted earlier, please mention the same in Memorandum of
changes in case it is not appearing in the MEF and also in the hard copy of
the declaration. The changes will be incorporated in MEF Database after due
verification.



Therefore, you can apply Multipurpose Empanelment Form without UCN
also.



8. Applicant practicing in individual name should continue to use the same
UCN in case he forms a sole proprietary concern.



9. Members may note that experience in capacity, as articled/audit
assistant or paid employee/assistant should not be added in experience
columns' to be mentioned in questions of MEF.



10. In case the applicant was appointed as Central/Branch Statutory Auditor
of a Public Sector Bank in the previous financial year, the following may be
noted to avoid conflict of interest:



a. Don't associate with the same Bank (of which the applicant is appointed
as statutory auditor)or any of its
subsidiaries/associates, as concurrent/internal/income

and expenditure or revenue auditor/stock auditor/auditor of
borrowers' accounts.

b. Don't take a loan (including outstanding on credit card) from/give a
guarantee to a loan from the same Bank (of which the applicant is appointed
as statutory




auditor) or any of its subsidiaries/associates.

c. Don't accept the position of a Director on the Board of the same Bank
(of which the

applicant is appointed as statutory auditor) or any of its
subsidiaries/ associates.



11. If an applicant has done audit of two or more than two entities or
Statutory Central and/or as

well as branch audit of a Bank for the same year, then it should be
counted as one year

experience only, while filling-up various questions of MEF.



12.The Institute reserves right to call for additional information
including financial documents,

annual financial statements, income tax & service tax returns and such
other documents,

from the applicant as may be considered appropriate.



13.While every care is taken in preparing the panel, in the event of any
inadvertent mistake or omission,

the Institute will not be responsible in any manner.



14.The Institute does not undertake any responsibility with regard to the
allotment of audit.



15.PROCEDURE FOR LOGGING INTO MEF:



. MEF is designed differently in case of sole proprietary concern,
partnership concern

and members practicing in individual name and therefore, the
applicant should select his

option carefully.

. Visit <http://www.meficai.org> www.meficai.org and select your
option for empanelment as a

sole proprietor/partnership concern/individual.

. Remember the PASSWORD for future reference, as you would be able to
log into your

form using this password ONLY.



16.All the information being sourced from Institute database is static (not
editable) and the same will

be appearing with green background. Applicants, who do not agree with
the details appearing

in these fields, should fill in the Memorandum of Changes.



17.COMPLAINT FILING MECHANISM



a. In case, an applicant faces any problem in accessing, operating or
submission of MEF, complaint may be lodged by accessing complaint-box link
available on <http://www.meficai.org> www.meficai.org

b. Applicants can lodge their complaint by using either MEF No./ MRN / FRN

c. Complaint number will be displayed on the system after successful
lodging of complaint. Please note the complaint number for future reference.
Applicant would be able to view the status of their complaints by using MEF
No. /Complaint No./MRN/FRN.

d. All the complaints lodged by the applicant would be looked
into by PDC Secretariat.



18.In case, the complaint is not resolved or replied within a week, members
can call at

011-30110444, 30110438, 30110440, 30110451, 30110480 and 30110508.




19.SUBMISSION OF DOCUMENTS



A hard copy of the Declaration duly signed by all (the continuing) partners/
proprietor/ member practicing in individual name accompanied by a print of
acknowledgement of submission of MEF must be sent to ICAI by courier/speed
post/hand delivery at the following address in an envelope superscribed with
"DECLARATION FOR MEF 2013-14" so as to reach on or before 5th
September,2013.






The Secretary

Professional Development Committee

The Institute of Chartered Accountants of India"ICAI Bhawan" Plot No- A- 29

Sector- 62, NOIDA,Dist: Gautam Budh Nagar

Uttar Pradesh,PIN- 201309











20.Receipt of hard copy of the Declaration will not be individually
acknowledged. The same will be displayed on the website mentioning MEF
number within 15 days of receipt of the Declaration. Declarations will then
be verified for completeness and correctness and discrepancy (ies), if any,
will be intimated to the applicant by email.









Members are advised not to correspond directly with the authorities on
matters related to empanelment.



Thank & Best Regards
CA. Kamal Dhanuka

Convener
J. B.Nagar CPE Study Circle of WIRC
OFFICE NO.209, 2ND FLOOR KEYTUO INDUSTRIAL

ESTATE, KONDIVITA ROAD,

ANDHERI (E),MUMBAI-59

Convener:- Kamal Dhanuka -9867215281
Dy.Convener:- N M Bansal -9322338652

Guidance Note on Internal Audit of Pharmaceutical Industry

-
Exposure Draft- Guidance Note on Internal Audit of Pharmaceutical
Industry.New


2013-07-26



Read More
<http://icmai.in/upload/Institute/Comments_Invited/ED-GN-IA-Pharma-Industry.
pdf>

Six Day Internal Audit Studies Foundation Course | 19th August 2013 | Parle International Hotel

Bombay Chartered Accountants' Society
Accounting & Auditing Committee
Chairman : CA. Harish N. Motiwalla. Co- Chairman : CA. Kanu S. Chokshi
Convenors : CA. Abhay R. Mehta, CA. Jayesh M. Gandhi, CA. Manish P. Sampat
Course Coordinators: Himanshu V. Vasa, Atul H. Shah and Preeti S. Cherian

Six Day Internal Audit Studies Foundation Course

The Accounting & Auditing Committee has arranged a Six Day Internal Audit Studies Foundation Course. Details of the Course are as follows:
• 6 days of Intensive Coaching.
• Interactive Full day Sessions from Monday, 19th August, 2013 to Saturday, 24th August, 2013, 9.30 a.m. to 6.30 p.m.
• Course content includes: • Internal Audit Overview, Positioning of Internal Audit in Corporate Framework, Internal Audit Standards, Internal Controls, Risk Management, Internal Audit Methodology, Soft skills and Use of IT tools.
• Fees: Rs 9,500 + Rs. 1,174 (ST) = Rs. 10,674 per participant.
Early Bird: Rs 9,000 + Rs. 1,112/- (ST) = Rs. 10,112 per participant.
More than 3 participants from the same firm @ Rs 8,500 + Rs. 1,051 (ST) = Rs. 9,551 per participant until 31st July 2013.
The fees include Rs. 50 Contribution to BCAS Foundation, course material, breakfast, tea and lunch on all days.
• Enrolment is restricted to 60 participants on first-come-first-serve basis. Enrolment fees are non-refundable.
• A Certificate will be awarded on completing IAS Foundation course.
• Course will be conducted at Parle International Hotel, B. N. Agarwal Market, Vile Parle (East), Mumbai, 400057
• Eligibility: Should be members of BCAS (or any persons nominated by a member)
INTERNAL AUDIT, a core management function, has assumed great importance in presenting times where the success of organization depends on effective risk management, strong framework of internal controls and optimum utilization of resources. It is therefore essential to have a structures training programme to enable Internal Audit Professional, whether engaged in industry or in professional firms rendering internal audit services, to hone their skills and provide value added services. Internal Audit is as relevant to small and medium sized enterprises as it is to large scale enterprises.
This course has been designed to meet the following objectives:
• To equip participants with basic internal audit skills for conducting effective Internal Audits.
• To create awareness about the contemporary thinking in the field of Internal Audit.
• To facilitate quality internal Audit Services.
For Further Details Contact:
Designation
Name
Telephone
Mobile
Chairman
Harish N. Motiwalla
22002103
9819422300
Coordinators
Himanshu V. Vasa
66054272
9819221155
Atul H. Shah
66348474
9820187022
Preeti S. Cherian
64577600
9821343354

Guidance Note on Internal Audit of Stock Brokers & Depository Participants

Exposure Draft- Guidance Note on Internal Audit of Stock Brokers &
Depository Participants.New


2013-07-26



Read More
<http://icmai.in/upload/Institute/Comments_Invited/ED-GN-Internal-Audit.pdf>

Uniform FSI of 3 for all pre-1970 buildings

Uniform FSI of 3 for all pre-1970 buildingsExpress news service : Mumbai, Sat Jul 27 2013, 01:31 hrs SmallLargePrint

Chief Minister Prithviraj Chavan approved Friday a uniform FSI of 3 for all cess buildings that came up before 1970. He was under pressure from members of ruling and Opposition parties.

Earlier, pre-1949 buildings in category 'A' enjoyed an FSI of up to 3 but not those in categories 'B' (pre-1959) and 'C' (pre-1969).

Chavan, responding to a debate on Mumbai in the legislative Assembly, also spelled out measures to curb illegal structures.

All 15-metre and above constructions will have to get structural audit reports from registered engineers and submit designs in advance for sanction. BMC officials will monitor the constructions to ensure there are no violations.

Chavan said the ambitious Real Estate Act, which will bring more accountability and transparency in constructions, was pending with President of India. "I am personally purusing it to get the nod," he said.

On Dharavi development, Chavan said, "Work in sector 5 is expected to complete in December."

Slum-dwellers owning houses of less than 200 square feet will be given 300-square-foot dwellings. Those with less than 300 square feet will get 400 square feet but only after paying construction cost for 100 square feet.

Chavan said: "Sixty-four officials have been shortlisted to monitor encroachments. A police squad will also be in place, for which BMC will have to pay. Three police stations will be set up to monitor illegal activities."

Disclose top 10 Income Tax assessees: CIC to I-T department

-


Disclose top 10 Income Tax assessees: CIC to I-T department
By PTI | 26 Jul, 2013, 07.31PM IST6 comments |Post a Comment


CIC has directed the I-T department to disclose the list of top 10 I-T assessees among individual, companies and charitable organisations categories.
CIC has directed the I-T department to disclose the list of top 10 I-T assessees among individual, companies and charitable organisations categories.
NEW DELHI: The Central Information Commission has directed the Income Tax department to disclose the list of top 10 Income Tax assessees among individual, companies and charitable organisations categories.

Information Commissioner M L Sharma said the information should be disclosed as it may enthuse and motivate such assessees and others to pay their taxes in an honest and transparent manner.

Rejecting the contention of the Income Tax Department that the information is of third party, held in confidence, and if disclosed might endanger the life and physical safety of the assessee, Sharma said couple of years ago the department felicitated highest income tax payers publicly.

"I am not sure whether this practice is continuing at present or not, but, one thing is clear, disclosure of their names is not likely to adversely affect the Central Revenues. On the other hand, it may enthuse and motivate such assessees and others to pay their taxes in an honest and transparent manner," he said.

He said the exemption clauses cited by the Income Tax department do not hold in the instant matter.

"I see no reason why this information should not be disclosed. Shri Abrol's (Income Tax department representative at the hearing) reliance on this Commission's decision in Raj Kumari Vs Income Tax Department is not of much help to him as the factual matrix of that case is different from the present one," he said.

The Commission also ordered disclosure of top income tax defaulters - an information which is already in the public domain - while hearing the petition filed by S C Agrawal.

Vacancy for CA/CS in Dupont

Job Description 

Executive-Indirect Tax  (

Job Number:

  FIN00001554)

Description

 

DuPont has a rich history of scientific discovery that has enabled countless innovations and today, we're looking for more people, in more places, to collaborate with us to make life the best that it can be.

Vacancy for CA/ICWA in Tamil Nadu Newsprint And Papers Limited

Employment Notice For

General Manager, Deputy General Manager, Assistant General Manager, Senior Manager, Manager, Deputy Manager, Assistant Manager

City / State

Karur , Tamil Nadu

Advertisement No

DIPR/881/Display/2013

Last Date

08-08-2013

EXCISE DUTY BLOW TO FIRMS SELLING GOODS BELOW COST

EXCISE DUTY BLOW TO FIRMS SELLING GOODS BELOW COST

Companies selling products below manufacturing cost to enhance market penetration will now have to pay excise duty on the normal price ( production cost plus profit). The finance ministry decision follows the Supreme Court ( SC) ruling of last year that upheld excise demand on sales of carmaker Fiat’s discounted

Multipurpsoe Empanelment form for 2013-14 hosted

Multipurpsoe Empanelment form for 2013-14 has been hosted at http://www.meficai.org/

Last date to file is 26th august  2013

EXPORT PROCEEDS SHOULD BE REALISED WITHIN SIX MONTHS FROM THE DATE OF EXPORT

Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 52 dated November 20, 2012 extending the enhanced period for realization and repatriation to India, of the amount representing the full value of goods or software exported, from six months to twelve months from

Result of the Chartered Accountants Intermediate (IPC) Examinations held in May, 2013 are likely to be declared on Wednesday, the 31st July, 2013. - (25-07-2013)

Result of the Chartered Accountants Intermediate (IPC) Examinations held in May, 2013 are likely to be declared on Wednesday, the 31st July, 2013. - (25-07-2013)

Extension of exemption granted by one more examination for students who switched over to the Intermediate(IPC) Course under Direct Entry Scheme before 30th September 2012. - (24-07-2013)

Extension of exemption granted by one more examination for students who switched over to the Intermediate(IPC) Course under Direct Entry Scheme before 30th September 2012. - (24-07-2013)

RBI announces additional measures to check rupee slide

Mumbai: With the rupee still continuing to be weak, the Reserve Bank on Tuesday announced additional liquidity tightening measures to contain excessive speculation and volatility in the foreign exchange market.

RBI has reduced the liquidity adjustment facility (LAF) for each bank from 1 percent of the total deposits to 0.5 percent, thus limiting the access to borrowed funds from the central bank. The limit will come into force

Certificate Course on Indirect Taxes at Nagpur schedule from 27th July, 2013.

Certificate Course on Indirect Taxes at Nagpur schedule from 27th July, 2013.

LIVE Webcast on Preparing for IPCC Paper 2: Business Laws, Ethics & Communication and IPCC Paper 6: Auditing & Assurance on 27th July, 2013

LIVE Webcast on Preparing for IPCC Paper 2: Business Laws, Ethics & Communication and IPCC Paper 6: Auditing & Assurance on 27th July, 2013

Live Webcast on Double Tax Relief organized by the Committee on International Taxation of ICAI on Friday 26th July, 2013 at 6.00 PM.

Live Webcast on Double Tax Relief organized by the Committee on International Taxation of ICAI on Friday 26th July, 2013 at 6.00 PM.

Committee for Capacity Building of CA Firms and Small & Medium Practitioners, ICAI is organising 6 CPE hours Workshop for Capacity Building Measures of Practitioners & CA Firms on 26th July, 2013 at Sangrur

Date: 26-07-2013

The Committee for Capacity Building of CA Firms and Small & Medium Practitioners (CCBCAF & SMP), ICAI is organising 6 CPE hours Workshop for Capacity Building Measures of Practitioners & CA Firms on 26th July, 2013 at ICAI Bhawan, Sangrur.

Click here for Programme details

ICAI clarifies on increase in passing criteria for CA examination rumours

http://220.227.161.86/30461exam20163.pdf

RBI Punishes Banks, but Gently

http://www.moneylife.in/article/rbi-punishes-banks-but-gently/33740.html

Cultural night 'Tarang' for Nagpur CA students

http://timesofindia.indiatimes.com/entertainment/regional/others/parties/Cultural-night-Tarang-for-Nagpur-CA-students/articleshow/21267006.cms

Dena Bank Concurrent Audits & Bonus

IN ADDITION TO CONCURRENT AUDITS, FOLLOWING ADDITIONAL WORK IS ENTRUSTED AS BONUS :)

SN	Assignment		Audit Fee plus Service Tax, if any (TDS - as applicable)
1	Statutory Audit including D2K Certificate (Branches not under Statutory Branch Audit & Central Statutory Audit)		` 5,000/- (for March Quarter)
2	Credit Audit (Unit visit is compulsory)		` 2,000/- per account
3	Stock Audit	For limits of Rs.1.00 Cr to less than 3.00 Cr	` 5,000/- per account
		For limits of Rs.3.00 Cr to less than 10.00 Cr	` 7,500/- per account
		For limits of Rs.10.00 Cr and above	` 10,000/- per account

Whether role of Audit parties is to point out factual mistakes and not to advise AO on legal matters - YES: ITAT

MUMBAI, JULY 24, 2013: THE issues before the Bench are - Whether role of the Audit parties is to point out factual mistakes and not to advise the AO on legal matters and Whether, if an AO, reopens the assessment on the legal advice of the audit party, it cannot be held as the formation of an independent opinion for the purpose of section 147. And the verdict goes against the

IFAC Signs Strategic Agreement with The IIA | IFAC

http://www.ifac.org/news-events/2013-07/ifac-signs-strategic-agreement-iia

Tata Motors gets Rs 400cr service tax notice

http://www.thehindu.com/business/tata-motors-gets-rs-400cr-service-tax-notice/article4941414.ece?homepage=true

Vacancy for CA in Lakshmi Vilas Bank Limited

Last Date

30-07-2013

S. No	Name of Post	Age Limit	Educational Qualification and Experience
1	Head IT In the rank of GM	Between 40 to 50 yrs	Graduation in IT with 15 years in Banking experience or Post Graduation in IT with 10 years in Banking experience in the rank of AGM / DGM handling IT Dept. / Technology Centre / DR Site Management/New Technology Products. Innovative and development of Techno products to compete with the market. Qualification in CISA / CISM or any certificate specialization in IT with CAIIB shall be preferable.
2	Head HR - In the rank of GM	Between 40 to 50 yrs	Post Graduation in any discipline or MBA in HRD with law qualification - BL/LLB. Qualification in Labour Laws will be desirable. Should have atleast 10 years rich experience in a Leading Commercial Bank in the rank of AGM/DGM with in operational aspects of Banking especially on all facets of HRD.
3	Head Audit - In the rank of GM / DGM	Between 40 to 50 yrs	Post Graduation or Law qualification ancj CAIIB will be added advantage. Should have atleast 10 years in banking experience in the rank of AGM / DGM, with exposure and practical experience in Audit and should also be served in Credit Department/Branch for atleast for a period of 3 years. Legal knowledge is preferable.
4	Head Risk Management - In the rank of GM	Between 40 to 50 yrs	Post Graduation with CAIIB. Should have at least 20 years Banking Experience (with 7 years experience) in the rank of Scale MI in Risk Management.
5	Head Monitoring- In the rank of GM / DGM	Between 40 to 50 yrs	A degree from any discipline with MBA or Post Graduation with CAIIB preferred. Should have atleast 10 years in banking experience preferably in the rank of AGM/DGM, handling Credit monitoring.
6	DGM Corporate Finance	Between 40 to 50 yrs	A degree from any discipline with MBA or Post Graduation with CAIIB or Graduation with CA preferred. Should have at least 10 years in banking with 5 years experience in the rank of CM / AGM, handling Corporate Advances
7	Regional Head - in the rank of DGM	Between 40 to 50 yrs	Must be PG with CAIIB or CA and should have minimum 10 years of banking experience in operations and administrative service preferably in the rank of CM / AGM.

How to Apply :

Required to conduct Internal Audit for the period 1st April 2013 to 31st March 2014 of Institute Of Chartered Accountants Of India

Institute Of Chartered Accountants Of India
Last Date : 01/08/2013
Required to conduct Internal Audit for the period 1st April 2013 to 31st March 2014

Address: 1. Uttrakhand a) Pantnagar 1. SPP Haldi 2. SPP Nagla 3. SPP Matkota 4. Vegetable SPP Haldi
Phone:
Email: finance@uaseedsandtdc.com

Revised FAQs on Income Tax Returns--Taxmann Article-II

Q 29. I omitted to submit rent receipt and investment proof to my employer because of which relief for HRA and certain other deductions weren't given to me, the tax deducted from my salary income is much higher than my actual tax liability. How to claim refund of such excess tax?

Even if the benefit of HRA under Section 10(13A) and deduction under Chapter VI-A are not considered by the employer in Form 16, yet they can be claimed in the income-tax return. Accordingly, the excess tax