CA NeWs Beta*: November 2013

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Saturday, November 30, 2013

Vacancy for CA in JP Morgan

Job Description 

Analyst - Markets CFO, F&BM, CIB, Global Finance-130102453

Job Description


JPMorgan Chase is a leading global financial services firm with assets of $1.1 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management, and private equity. Under the JPMorgan,

Here Comes Android Jelly Bean Powered 'Bharat Phone' Priced At Rs 1,799

Saturday, November 30, 2013 BSNL and Pantel Technologies Private Limited (PTPL)yesterday announced the next generation of smart devices with the launch of Bharat Phone PF300 and the Penta Smart models – PS501 & PS650 and the Penta T-Pad WS707C respectively.

BSNL, BSNL Penta, Bharat Phone, Penta Smart, Trustport, HomeShop18, Panta Smart PS650, PentaBharat Phone PF300, Penta Smart PS501, Penta T-Pad WS707C, Android 4.2.2, Jelly Bean, BSNL news, smartphones in India, budget smartphones, tech news, news




The Bharat Phone is priced at a mere Rs 1,799 and has a large screen and the proprietary Read more »

Hiring services of chartered accountant firm for financial audit of vwsc for the financial year 2011-12 & 2012-13

Drinking Water And Sanitation Department
Last Date : 02/12/2013
Hiring services of chartered accountant firm for financial audit of vwsc for the financial year 2011-12 & 2012-13

MRTP : Where company manufacturing kitchen chimneys had specified in its owners manual that lifetime warranty meant life of 12 years, complaint against company for giving misleading impression was to be dismissed



MRTP : Where company manufacturing kitchen chimneys had specified in its owners manual that lifetime warranty meant life of 12 years, complaint against company for giving misleading impression was to be dismissed

Ethics ICAI

http://220.227.161.86/31527cajournal_dec2013-7.pdf

Vodafone TP: Tax Dept Should Not Cause Misery And Harass Taxpayers: Bombay High Court (4)

Transfer Pricing: Existence of income is a jurisdictional requirement for the applicability of T. P. provisions. AO must deal with it after giving personal hearing before making reference to TPO. The dept should not treat the assessee as an adversary who has to be taxed, no matter what
The assessee, an Indian company, issued equity shares at the premium of Rs.8591 per share aggregating Rs.246.38 crores to its holding company. Though the transaction was reported as an “international transaction” in Form 3 CEB, the assessee claimed that the transfer pricing provisions did not apply as there

Vacancy for CA in Dupont

Job Description 

Deputy Manager Corporate Accounts  (

Job Number:

  ACC00001069)

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

Friday, November 29, 2013

Empanelment of Chartered Accountant firms with the O/o C&AG for the year 2014-2015

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

Empanelment of Chartered Accountant firms for the year 2014-2015
 


Applications are invited online from the firms of Chartered Accountants and Chartered Accountants Limited Liability Partnerships (LLPs) who intend to be empanelled with this office for appointment as auditors of Government Companies/Corporations for the year 2014-2015. The format of application will be available

Vacancy for CA in Delhi Metro Rail Corporation Ltd

Delhi Metro Rail Corporation Ltd, a joint venture of Government of India and Government of Delhi issued notification announcing 56 vacancies of officers and staff under various disciplines. The requirement to the vacant posts would be done on regular/contract basis. Interested candidates should send their applications till

INVESTMENTS BY FIIs/QFIs IN CREDIT ENHANCED BONDS CIRCULAR NO IMD/FIIC/19/2013, DATED 28-11-2013

INVESTMENTS BY FIIs/QFIs IN CREDIT ENHANCED BONDS
CIRCULAR NO IMD/FIIC/19/2013DATED 28-11-2013
1. On September 10, 2012, Government of India decided to permit Foreign Institutional Investors (FIIs) to invest in "Credit Enhanced INR Bonds" up to an equivalent of US$ 5 billion within the overall Corporate Bond limit of US$ 51 billion. The Reserve Bank of India vide circular RBI/13-14/368 dated November 11, 2013 had permitted FIIs and QFIs to invest in the credit enhanced bonds, as per paragraph 3 and 4 of the

IT : Where rural branches of co-operative bank did not satisfy definition of rural branch given under section 36(1)(viia), advances made by such rural branches would not qualify for deduction as bad debt



IT : Where rural branches of co-operative bank did not satisfy definition of rural branch given under section 36(1)(viia), advances made by such rural branches would not qualify for deduction as bad debt
IT : Only net accretion to provisions account of bad and doubtful debt made

Cenvat Credit: Plastic flooring is not eligible for Cenvat credit since it is neither any aid of manufacture nor any inevitable necessity to carry out manufacture



Cenvat Credit: Plastic flooring is not eligible for Cenvat credit since it is neither any aid of manufacture nor any inevitable necessity to carry out

CIRCULAR DNBS.PD.CC.NO.361/03.02.002/2013-14, DATED 28-11-2013

PARTICIPATION OF NBFCs IN INSURANCE SECTOR
CIRCULAR DNBS.PD.CC.NO.361/03.02.002/2013-14DATED 28-11-2013
Please refer to the circular DNBS.(PD).CC.No.13/02.01/99-2000, dated June 30, 2000 which contains the Guidelines for entry of NBFCs into Insurance Business issued on June 09, 2000, and subsequent modification carried out vide Circular DNBS.(PD).CC.No.35/10.24/2003-04, dated February 10, 2004 and CC No. 221/03.02.002/2010-2011, dated May 27, 2011. As per the extant instructions issued on May 27, 2011, in case more than one company (irrespective of doing financial activity or not) in the same group of the NBFC wishes to take a stake in the insurance company, the contribution by all

NOTIFICATION NO. 90/2013 [F.NO. 142/31/2013-TPL(PT.-II)], DATED 27-11-2013



SECTION 43(5), CLAUSE (iii) OF EXPLANATION 2 TO CLAUSE (e) OF PROVISO, OF THE INCOME-TAX ACT, 1961 - SPECULATIVE TRANSACTION - RECOGNIZED STOCK EXCHANGE - NOTIFIED RECOGNIZED STOCK EXCHANGE

NOTIFICATION NO. 90/2013 [F.NO. 142/31/2013-TPL(PT.-II)], DATED 27-11-2013

In exercise of the powers conferred by clause (iii) of the Explanation 2 of clause (e) of the proviso to clause (5) of section 43 of the Income-tax Act, 1961 (43 of 1961) read with sub-rule (4) of rule 6DDD of the

Wednesday, November 27, 2013

Vacancy for CA in Maharashtra Gramin Bank

Employment Notice For

Officer Scale-I, Officer Scale-II, Officer Scale-III, Office Assistant

City / State

Nanded , Maharashtra

Advertisement No

Last Date

12-12-2013

IT : Where assessee in return of income under head 'income from other sources' had shown certain income as commodity income received from a party and it was not relatable to business of assessee and was a sham transaction, said income would fall under section 68, being unexplained cash receipts

IT : Where assessee in return of income under head 'income from other sources' had shown certain income as commodity income received from a party and it was not relatable to business of assessee and was a sham

A Brief Analysis of MCA Circular clarifying the applicability of section 372A

Ministry of Corporate Affairs has issued a Circular dated 19th November, 2013,clarifying that section 372A of the Companies Act, 1956 (hereinafter referred to as Act) dealing with inter-corporate loans and advances is still operative. While section 186 of the Companies Act, 2013 (hereinafter referred to as New Act) which was the corresponding section to Section 372A of the Act was still not notified, it was more of less clear that the section was operative.
 



The need of the hour somehow was to relax the restriction posed by section 185 of the New Act dealing with loans to Directors etc. since its notification from September 12, 2013 onwards from its applicability on wholly owned subsidiaries and private limited companies. This circular seems to convey different opinions, as on one hand,it seems that the Ministry has tried to meet the requirement of the Industry by attempting to

IT : Where assessee had charged less sale price from sister concern as compared to non-sister concerns, provisions of section 40A could not be invoked as no payment had been made for any item of expenditure

IT : Where assessee had charged less sale price from sister concern as compared to non-sister concerns, provisions of section 40A could not be invoked as no payment had been made for any item of expenditure
■■■
[2013] 38 taxmann.com 401 (Punjab & Haryana)
HIGH COURT OF PUNJAB AND HARYANA
Commissioner of Income-tax - I, Ludhiana
v.
Rajnish Ahuja*
HEMANT GUPTA AND MS. RITU BAHRI, JJ.

Step by Step Guide to view ICAI ebooks on Android Phone


Recently ICAI has taken an initiative to launch the e-books for the students so that they can have access to the study material while on the move through the use of Android smartphone. I will be giving you a step by

Tuesday, November 26, 2013

Vacancy for CA/ICWA in CISCO

Requisition #: R954672 Location: INDIA.KARNATAKA.BANGALORE
Job Title: Finance Analyst Region: APJC
Area of Interest: Finance
Level of Experience: Experienced - Non Manager
Flexible Work Option: Yes
Job Description: Advanced Services Financial Analyst

This is an excellent opportunity to be a part of the Advanced Services Finance Delivery Organization supporting the Cisco Services business across the

How to get 10 Hours of CPE Credit of unstructured learning for 2011, 2012 & 2013

As you all are aware, the ICAI’s Continuing Professional Education (CPE) policy requires members to comply with the CPE Hour Requirements. Which includes Structured and Unstructured learning. Also Read- CPE credit Hours requirements for Calender Year 2011 to 2013 for CAs In the above context, this is to bring to your attention that even reading of certain […]

Monday, November 25, 2013

Opportunity for CAs at IBPS

Inline image 2

ITAT duty-bound to deal with all judgements cited during hearing of appeal

ITAT duty-bound to deal with all judgements cited during hearing of appeal
The assessee filed an appeal against an addition for alleged bogus purchases/sales which was dismissed by the Tribunal. The assessee filed an appeal before the High Court claiming that he had relied on the judgement in CIT vs. President Industries 258 ITR 654 in the verbal and written submissions and that the Tribunal had

Vacancy for CA in Hyatt

Assistant Director of Finance-PUN000275

Description

 
You will be responsible for the efficient running of the department in line with Hyatt International's Corporate Strategies and brand standards, whilst meeting employee, guest and owner expectations
To assist the Director of Finance in managing the department, through planning, organizing, directing and

Saturday, November 23, 2013

AN AUDITOR CAN BE REMOVED WITHOUT APPROVAL FROM CENTRAL GOVT UNDER NEW COMPANY LAW : BY CA NITESH MORE

AN AUDITOR CAN BE REMOVED WITHOUT APPROVAL FROM CENTRAL GOVT UNDER NEW COMPANY LAW : BY CA NITESH MORE
It is generally said by every expert that an auditor will be removed under new company Law only after obtaining previous approval of central Govt. Sec 140(1) confirms this. However, I think that an auditor can be removed under new company Law without obtaining previous approval of central Govt also .

A)   The auditor can be removed under sec 140(1) with previous approval of CG

B)   The auditor can also be removed under sec 139(9) without approval of CG

A)     Removal by Special Resolution and previous approval of the Central Government: [Sec 140(1)]
v  The auditor appointed under section 139 may be removed from his office before the expiry of his term

Bank unions to observe one-day strike on Dec 19

UFBU deliberated at length about the anti-people policies of the govt and decided to launch a one-day country-wide token strike
Pressing various demands, the United Forum of Bank Unions (UFBU), representing employees of public and private sector banks, has decided to observe a one-day nationwide strike next month. 

VAT Cir - 7T of 2013 on Correction of mistakes made by the dealers or miscellaneous refunds of excess payment of taxes..

Vacancy for CA in Uttarakhand Disaster Recovery Project (UDRP)

Employer Name: Uttarakhand Disaster Recovery Project (UDRP) Employer Address: The Project Management Unit, Uttarakhand Disaster Recovery Project (UDRP) SIIDCUL Building, 29 IIE [IT Park], Sahastradhara Road, Dehradun-248001, Uttarakhand Phone: 0135-2710334,2710335,2710233 Required Skills: K...read more

Required Professional passed trainee at Sudhanshu Gupta & Associates


Required Professional passed trainee at Sudhanshu Gupta & Associates(Laxmi Nagar). Interested Candidates may

CAN A COMPANY GIVE LOAN TO GROUP COMPANIES UNDER COMPANY ACT, 2013?

CAN A COMPANY GIVE LOAN TO GROUP COMPANIES UNDER COMPANY ACT, 2013?
      BY CA NITESH MORE
Many corporate including Pvt Ltd Cos have other related group companies and they transfer money to & from other company as and when require. Stop doing this, even retrospectively from 12th Sep, 2013 as these can be treated as interest free loan u/s 185 of new company law. Loan has not been defined u/s 185. These transfers can be treated as loan. Any transaction of giving money to be returned with or without

Non-applicability of Companies Act, 2013 for May 2014, Examinations

18th November, 2013
Important Announcement

Attention: Intermediate (IPC) and Final Course students

Non-applicability of Companies Act, 2013 for May 2014, Examinations

This is to bring to the notice of students that the Companies Act, 2013 notified in the Official Gazette on 30th August, 2013 (with partial enforcement of only 98 sections of the Companies Act, 2013 from 12th

ICAI lauches E-books

ICAI believes in harnessing technology for the benefit of members and students. In view of increased use of tablets and smart phones that facilitate easy reading, the ICAI has come out with study materials in form of e-books. Now students will be able to conveniently read and learn on the move. Presently, the study material

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

Manager (Finance) Tamil Nadu Newsprint and Papers Limited Address: Tamilnadu Newsprint and Papers Limited, Karur District Postal Code: 639136 City Kagithapuram State Tamilnadu Pay Scale: Rs. 28000-800-36000 Educational Requirements: Chartered Accountant (CA) Qualifications: Cost and Work...read more

Vacancy for CA Inter /ICWA Inter in Schneider Ltd

Position Title: Manager Finance Location: ITB SC&M, Bangalore Roles & Responsibilities: Inventory Controlling: Highlight slow moving /Non moving stocks, Work with Warehouse Manager to liquidate the same by rebalancing or disposal. Monitor Cycle Count operation. Conduct p...read more

Thursday, November 21, 2013

Vacancy for CA in HSBC Bank



Candidate profile
The candidate must possess an MBA or a CA degree

3 years of Corporate Banking experience of handling large or complex clients preferred

SEBI has issued a discussion paper on 'Review of guidelines governing stock related employee benefit schemes', for public comments.

SEBI has issued a discussion paper on 'Review of guidelines governing stock related employee benefit schemes', for public comments.
SEBI has issued SEBI (ESOS & ESPS) Guidelines, 1999 to enable listed companies to reward their employees through stock option schemes and stock purchase schemes. Based on the requests/ suggestions/ recommendations received from various market participants, it is proposed to

CAG questions Rs 3,000 crore of investments by two Tata trusts

CAG questions Rs 3,000 crore of investments by two Tata trusts
Josy Joseph, TNN | Nov 21, 2013, 02.36 AM IST


NEW DELHI: A detailed audit by the Comptroller and Auditor General of India of some major trusts run by business houses and sports bodies has allegedly revealed misuse of income tax exemptions granted to them.

The Institute of Chartered Accountants of India (ICAI) has suspended the membership of Harsh Vardhan Lodha, chairman of Birla Corporation, and his brother Aditya Vikram Lodha for three months.

The Institute of Chartered Accountants of India (ICAI) has suspended the membership of Harsh Vardhan Lodha, chairman of Birla Corporation, and his brother Aditya Vikram Lodha for three months.

In a letter, Vandana D Nagpal, director (discipline), said the decision of the council was taken "upon a

Draft Rules under the Companies Act, 2013 Companies (Cost Records and Cost Audit) Rules, 2013.


Draft Rules under the Companies Act, 2013
Companies (Cost Records and Cost Audit) Rules, 2013.
In exercise of the powers conferred by sub-sections (1) and (2) of section 469 and section 148 of the Companies Act, 2013 (18 of 103), the Central Government hereby makes the following rules, namely:

Tuesday, November 19, 2013

Vacancy for CA/ICWA in Cement Corporation of India


ADVERTISEMENT No.03/13
Cement Corporation of India Ltd. (CCI), a profit m
aking Central Govt. Public
Sector Undertaking is in the process of recruiting
General Manager/Addl.
General Manager(Technical/Projects)
at E-7/E-6 level
,
Addl. General
Manager / Dy.General Manager (Maintenance & Service
s)
at E-6/E-5 level
,
Dy.General Manager(Materials Management)
at E-5 level
(reserved for SC),
Manager (Material Management)
at E-3 level,
Addl.General Manager/
Dy.General Manager/Sr.Manager (Finance),

Sunday, November 10, 2013

Vacancies For Manager (Finance) In Delhi Metro Rail Corporation Ltd – Delhi

Manager (Finance)

Delhi Metro Rail Corporation Ltd

Address: Metro Bhawan. Fire Brigade Lane. Barakhamba Road
Postal Code: 110001
City New Delhi
State Delhi
Pay Scale: Rs. 24900-50500 (IDA)
Educational Requirements: CA/ICWA (for finance) except for IRAS/ Railway Accounts officers.

Sunday, November 3, 2013

DRDA, Rayagada recruitment for Assistant Project Director (Credit)


Name of the Post: Assistant Project Director (Credit)

No of the Post: 01

Age: 40 years as on 01/01/2013

Salary: Rs. 12500/- per month

PwC Looks to Bolster Consulting Practice With Booz Merger - Compliance Week

http://www.complianceweek.com/pwc-looks-to-bolster-consulting-practice-with-booz-merger/article/318594/

Very inspiring video on Malala - On how education wins over violence


Saturday, November 2, 2013

Expression of Interest is invited from C&AG empanelled Chartered Accountant firms for audit of NREGS accounts of the G.P., Blocks and DRDA Sambalpur for the year from 2006-07 to 2012-13

District Rural Development Agency - Sambalpur
Last Date : 04/11/2013
Expression of Interest is invited from C&AG empanelled Chartered Accountant firms for audit of NREGS accounts of the G.P., Blocks and DRDA Sambalpur for the year from 2006-07 to 2012-13

FESTIVE OFFER Pay outstanding MTNL bills, get 10-50% rebate


Mumbai: The Mahanagar Telephone Nigam Limited (MTNL) has decided to offer a one-time rebate to all its customers—landline, broadband or cell phone — who desire to clear outstanding bills for the last 10 years.
    Rebates ranging from 10% to 50% will be offered to such customers for the first time under an amnesty

No TDS from value of meal coupons given by employer to employees, ITAT says (2

IT : Where assessee paid to its employee every month certain amount in advance towards leave travel concession and medical reimbursement, it was not obliged to deduct tax at source under section 192 on such amount at time of making payment
IT : Where assessee as part of its plan provided to its employees meal vouchers/coupons, which

IT: Deduction under section 80-IC could not be denied on ground that assessee procured raw material from other State

IT: Deduction under section 80-IC could not be denied on ground that assessee procured raw material from other State

IBM asked to pay Rs 5,357 crore in outstanding tax by Indian authorities

Companies Act 2013 - CHAPTER 20 - Winding UP - services of COST ACCOUNTANT

The Companies Act 2013
CHAPTER XX
WINDING UP
270. (1) The winding up of a company may be either—
(a) by the Tribunal; or
(b) voluntary.
(2) Notwithstanding anything contained in any other Act, the provisions of this Act with respect to winding up shall apply to the winding up of a company in any of the modes specified under sub-section (1).
PART I.—Winding up by the Tribunal
275. (1) For the purposes of winding up of a company by the Tribunal, the Tribunal at the time of the passing of the order of winding up, shall appoint an Official Liquidator or a liquidator from the panel maintained under

Vacancy for CA/ICWA in NEPA Limited

NEPA Limited – General, Dy General Manager Vacancies 2013: Nepa Limited is a Pioneer Newsprint Manufacturing CPSU, under Ministry of Heavy Industries & Public Enterprises has posted employment notification for General, Dy General Manager Posts. Eligible candidates can apply in prescribed application format with in 15 days from the date of Publication of Advt. For more details regarding age limit,

10-day old girl in Rajkot gets a PAN card

Fourteenth ESMA enforcement decisions report released

IRS releases inflation adjustments for 2014


On Thursday, the IRS issued the annual inflation adjustments for 2014 for more than 40 tax provisions and the tax tables for 2014 (Rev. Proc. 2013-35).
Among the inflation-adjusted amounts that have increased are the personal exemption, which increased from $3,900 in 2013 to $3,950 for 2014, and the standard deduction, which for married filing jointly status increased from $12,200 in 2013 to $12,400 in 2014. In addition, the adoption credit under Sec. 23 is inflation-adjusted from $12,970 in 2013 to $13,190 in 2014.
The revenue procedure also contains the inflation-adjusted unified credit against the estate tax, which is $5.34 million for

Highest FD rates on offer as on 1st October 2013 amongst public sector bank

Public Sector Bank: IDBI Bank



Duration Rate Deposit Amount Rules Additional Interest for Seniors
15 days-45 days6.00%Must be atmost Rs. 1 crore-
46 days-200 days8.50%Must be atmost Rs. 1 crore-

Friday, November 1, 2013

Its India on Diwali Day Happy Diwali

Photo: its INDIA on Diwali,....<3

Vacancy for CA in Macquarie group


Executive - Group Regulatory Reporting


Review: Krrish 3 is heartbreakingly unoriginal

Sharma.

It’s a bird!

It’s a plane!

Oh wait, it’s a rip off of films such as X-Men, Spiderman, Batman, The Avengers and (embarrassingly enough) even The Incredibles and Megamind.

Rakesh Roshan's Krrish 3, starring (surprise, surprise!) Hritik Roshan is the third instalment of the Koi...Mil Gaya series - of which Krrish 2 is still missing. In this film, we see Krrish (Hritik Roshan) pitted against a powerful army of mutants, controlled by the mastermind Kaal (Vivek Oberoi), who want to destroy the

Google has launched its much anticipated software ‘Kitkat’

New Delhi: Google has launched its much anticipated software ‘Kitkat’ along with its global launch of the Nexus 5 phone.

Nicknamed after the chocolate bar Kitkat, the Operating System is designed to work well on both high-end smartphones and cheaper feature phones.

Let’s have a look at five amazing features of the newly launched software.
Read more »
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