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Sunday, September 28, 2014
Vacancy for CA in Anant Rathi
CBDT Clips AO’s Power To make Fishing Enquiry In CASS cases
The CBDT has issued Instruction No. 7 of 2014 dated 26.09.2014 pointing out that in cases selected for scrutiny under Computer Aided Scrutiny Selection (‘CASS’), some
AOs routinely call for information which is not relevant for enquiry into the issues to be considered. This has been causing undue harassment to the taxpayers and has also drawn adverse criticism from several
Afraid of income tax scrutiny?
File AIR for high-value deals; ensure that bank statements and transaction records are in place.
A
scrutiny letter from the income tax (I-T) department is always a scary
proposition. But, you can receive it
Friday, September 26, 2014
Cbdt press release
Cbdt press release
In compliance to the judgments of various High Courts and after considering the representations received for extension of the due date, the Board, in exercise of its power conferred by section 119 of the Act, has extended the `due-date' for furnishing return of income from 30th September, 2014 to 30th November, 2014 for the Assessment Year 2014-15 for all purposes of the Act in the case of an assessee, who is required to file his return of income by 30th September, 2014, and is also required to get his accounts audited under section 44AB of the Act or is a working partner of a firm whose accounts are required to be audited under section 44AB of the Act.
5.There shall be no extension of the "due date" for the purposes of charging of interest under section 234A of the Act for late filing of return of income and the assessees shall remain liable for payment of interest as per the provisions of section 234A of the Act.
In compliance to the judgments of various High Courts and after considering the representations received for extension of the due date, the Board, in exercise of its power conferred by section 119 of the Act, has extended the `due-date' for furnishing return of income from 30th September, 2014 to 30th November, 2014 for the Assessment Year 2014-15 for all purposes of the Act in the case of an assessee, who is required to file his return of income by 30th September, 2014, and is also required to get his accounts audited under section 44AB of the Act or is a working partner of a firm whose accounts are required to be audited under section 44AB of the Act.
5.There shall be no extension of the "due date" for the purposes of charging of interest under section 234A of the Act for late filing of return of income and the assessees shall remain liable for payment of interest as per the provisions of section 234A of the Act.
Gujarat HC Raps CBDT Over ROI Due Date Non-Extension Fiasco
All Gujarat Federation of Tax Consultants vs. CBDT (Gujarat High Court)
Strictures passed against the CBDT for seeking to take advantage of its own wrong and disregarding genuine hardship of taxpayers. Due date for filing ROI extended to 30.11.2014 subject to charge of s. 234A interestThe Petitioner filed a Writ Petition claiming that the action of the CBDT/ Government in issuing Notification dated 25.07.2014 to exercise the due date for filing the tax audit report u/s 44 AB but in
Thursday, September 25, 2014
CAs/CSs Not Capable Of Arguing/ Deciding ‘Substantial Questions Of Law’: SC Full Bench
Madras Bar Association vs. UOI (Supreme Court – Full Bench)
The NTT Act “crosses the boundary” & is unconstitutional. CAs/CSs are specialists on accounts & facts and are not capable of arguing/ deciding ‘Substantial Questions Of Law’The Full Bench of the Supreme Court had to consider whether the National Tax Tribunals Act, 2005, which sought to take away the jurisdiction of the High Courts in tax matters was constitutional. The Full Bench has struck down the entire Act as being unconstitutional on the ground that though
Status of ITR Date Extension in various courts:Fight for extension of due date of ITR
| High Court | Status | Details of the Case |
| Bombay | Honourable Bombay HC passed the order stating that CBDT to consider the representation of the of the Chamber before 30th September | The Chamber of Tax Consultants & Others Vs. Union of India, WRIT PETITION (L) NO.2492 OF 2014 |
| Hyderabad | Honourable HC observed that there is no justification or reason to extend the date for TAR alone and not to extend the date for ITR and accordingly the Union of India and CBDT were directed to consider the contents of the representations of AIFTP for extending the date for filing ITRs in tandem with the date for TAR and dispose of the representations well before the date for filing ITR i.e. 30-09-2014 | All India Federation Of Tax Practitioners, Mumbai Vs. Union of India & CBDT |
| Gujarat | Appeal Disposed off in favour of Petitioner and Honourable High Court Instructed CBDT to extend due date to File Income Tax Return in Tax Audit Cases for A.Y. 2014-15 to 30.11.2014 but allowed to levy Interest U/s. 234A of the Income Tax Act,1961 | Rajni Mangaldas Shah V/S Central Board Of Direct Taxes, SCA/12571/2014 |
| All Gujarat Federation of Tax Consultants Vs. CBDT, SCA 12656/ 2014 | ||
| Delhi | Petitioner withdrawn the petition citing that they are not happy with affidavit. Petition dismissed as withdrawn | Mahesh Kumar And Company Vs. Union Of India & Anr. – W.P.(C) 5990/2014 |
| Rajasthan | 24th Sept 2014 – Court Adjourned the matter to 26th Sept 2014 | Raj Tax Consultants Vs UO I And Ors, Civil Writ No. 9540/2014 |
ICAI mooted “Ind AS” – Sharing Own Thoughts
V Swaminathan B.Sc. B.L., FCA
Prologue:
In the media report (Businessline) on, -
NPPA guideline withdrawal: Sending the ‘right signals’ or ‘course correction’?, the guideline is stated to be in regard to the drug price regulator’s move to withdraw internal guidelines that it had issued lately, in May.
Having been provoked by certain other
like developments, to altruistically canvass, in the larger public
interests, in one’s conviction, similar ‘right signals’ and ‘course
correction’ are required to be
Fight for extension:Today Bombay HC directed cbdt to extend due date:4HCs extended due date:Madras HC also Directs CBDT to consider representation of AIFTP for extending date of ITR in tandem with ITR
Good news; Today Bombay HC also directed cbdt to extend due date
Good news; Today , Madras HC directs CBDT to extend due date of filing returns to Nov 30.
A) Madras HCToday , Madras HC directs CBDT to extend due date of filing returns to Nov 30.
Writ no 28159/2014 & 28672/ 2014
B) Andhra pradesh high courtYesterday, Andhra pradesh high court has held yesterday that there is no justification to extend TAR and
Writ no 28159/2014 & 28672/ 2014
B) Andhra pradesh high courtYesterday, Andhra pradesh high court has held yesterday that there is no justification to extend TAR and
Monday, September 22, 2014
Windows 9 beta set for 30 September unveiling
Windows 9 beta set for 30 September unveiling
Microsoft has sent out invitations for an event on 30 September where it is expected to announce the Windows 9 beta as a 'technical preview'.
everything you need to know about the Windows 9 release date and new features including the return of the start menu and loss of the charms bar and also like to now can you upgrade to windows 9 click at
CBDT extends 80% rate of depreciation on windmills and devices running on wind energy installed after 31-3-2014
INCOME-TAX (EIGHTH AMENDMENT) RULES, 2014 - AMENDMENT IN NEW APPENDIX-I
NOTIFICATION NO. 43/2014 [F.NO.152/1/2013-TPL]/SO 2399(E), DATED 16-9-2014
In exercise of the powers conferred by section 295 read with section 32 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend
Gujarat High Court has directed CBDT to extend date of filing Income Tax Return
Gujarat High Court has directed CBDT to extend date of filing Income Tax Return in cases of Tax Audit till
Sunday, September 21, 2014
Vacancy for CA in Eaton
Eaton is a power management company with 2013 sales of $22.0 billion. Eaton provides energy-efficient solutions that help our customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably. Eaton has approximately 102,000 employees and sells
Yummy Idli and Chutney recipe
Yummy Idli and Chutney
By Sify Bawarchi
Prep Time: 6 hr
Total Time: 6 hr 30 mins
Makes: 8
Difficulty: Moderate
Ingredients
- 3 cups Long Grain Rice
A traveller's guide to Chandigarh
in the lower Shivaliks, surrounded by forestland. Accommodation is in Swiss cottage or safari tents (www.prakritifarms.com). Take a farm tour to see environment-friendly farming practices at work. Dine on delicious Punjabi food made with organically grown vegetables. You could also catch a Sufi music performance in the evening.
Day 5: Pinjore
Distance: 25 km
Time: 30 minutes by road
French architect Le Corbusier's muse, Chandigarh is India's most well planned urban developments--roam the streets and you will know just what we are talking about. Its vantage location at foothills of the Shivaliks makes it a great basecamp for getaways.
Day 1: Chandigarh
Get into town
Arrive in Chandigarh and check into the JW Marriott in Sector 35-B (www.marriott.com). Put on your walking shoes and get ready to see the city. Begin at Capitol Complex, the administrative
Saturday, September 20, 2014
Will purchase of asset come under 40A(3)
The CBDT in Circular : No 34 [F. No. 13A/92/69-IT(A-II)], dated 5-3-1970 has clarified in para 2 as under:
2. The provisions of section 40A(3) would apply in computing the income under the heads "Profits and gains of business or profession" and "Income from other sources" as per section 58(2). All payments in excess of Rs. 2,500 at one time whether for goods or services
Vacancy for CA/ICWA in BESCOM
Bangalore Electricity Supply Company
Limited (BESCOM) invites application for the recruitment of Assistant
Engineer & More Vacancies with M.Com, CA, MBA/PGDM, BE/B.Tech, ICWA,
Diploma holders
Company name : Bangalore Electricity Supply Company Limited (BESCOM)
Posts : Assistant Engineer & More Vacancies
Qualification : M.Com, CA, MBA/PGDM, BE/B.Tech, ICWA, Diploma
Posts : Assistant Engineer & More Vacancies
Qualification : M.Com, CA, MBA/PGDM, BE/B.Tech, ICWA, Diploma
Friday, September 19, 2014
EMPANELMENTS
1. Orissa Biodiversity Board:Description: Expression of interest from
CAG empanelled Charted Accountant Firms for conducting statutory audit of
OBB including certification of balance sheet, reconciliation of bank
accounts, receipts an payments, income and expenditure schedule etc. Last
CSR defaulters to be penalised under Companies' Act 2013
The Narendra Modi-led government
will not let companies get away easily if they do not spend the
mandated 2% of their profits on Corporate Social Responsibility (CSR)
activities as specified by law. The government is planning to add more
teeth to the Companies Act 2013 by introducing the penalty clause for companies that miss this target spending repeatedly. At present, non-compliance of CSR
rule isn't penalized
RBI circular - Change in CTS for Govt. Payment
Implementation
of Cheque Truncation System (CTS): Dispensation of the requirement of
forwarding of government cheques in physical form to Government - Change
in the Memorandum of Instructions for reporting of government
transactions
As
part of enhancing the efficiency in cheque clearing, Reserve Bank has
introduced CTS for clearance of cheques facilitating the presentation
and payment of cheques without their physical movement. While this
process has stabilized, the current requirement of forwarding the
government cheques in physical form, after
Non-Extension Of Due Date For Filing ROI Challenged In Bombay High Court
The Central Board of Direct Taxes (CBDT) issued Notification dated
25.07.2014 to amend the Income Tax Rules 1963 by providing for a new
format of FORM No.3 CD of the particulars to be furnished by the
Auditor. The CBDT also issued an order dated 20.08.2014 u/s 119 of the Act to extend the time to file the
ICAI initiative on order dated 20th August, 2014 pronounced by a Bench of Income Tax Appellate Tribunal, Mumbai
ICAI initiative on order dated 20th August, 2014 pronounced by a Bench of
Income Tax Appellate Tribunal, Mumbai
Members are aware of the general remarks against ICAI made by Hon 'ble ITAT Mumbai Bench in respect of its order dated 20th August, 2014 wherein the tax advice given by a member of the Institute had been
Income Tax Appellate Tribunal, Mumbai
Members are aware of the general remarks against ICAI made by Hon 'ble ITAT Mumbai Bench in respect of its order dated 20th August, 2014 wherein the tax advice given by a member of the Institute had been
Thursday, September 18, 2014
ITR date extension:Meeting is going in positive direction for ITR date extension:Meeting with CBDT going on,extension expected
Good news:ITR date extension: Meeting with CBDT going on, extension expected soon
1) CBDT did not filed affidavit to court Today.
2) Meeting with CBDT going on Now.Meeting is going in positive direction for ITR date extension. Extension expected soon
3) Next hearing at court Tommorrow. Let us hope for the best
2) Meeting with CBDT going on Now.Meeting is going in positive direction for ITR date extension. Extension expected soon
3) Next hearing at court Tommorrow. Let us hope for the best
Update:Writ petition for ITR date extension at Delhi HC:Next hearing on 18th Sept
Extend ITR due date ; Release Audit Forms & ITR before 1st April every year – ICAI to CBDT
As per unconfirmed sources a
message from ICAI to CBDT is doing rounds on social media and whatapp
groups, in which ICAI president K. Raghu has suggested to CBDT that
a) the due date of filing return of income under section 139(1) for assessees mentioned under
Government has notified the date of 1st October, 2014 as the date from which taxability of enhanced scope of Service Tax, new services and changes in exemptions will come into force.
Government has notified the date of 1st October, 2014 as the date from which taxability of enhanced scope of Service Tax, new services and changes in exemptions will come into force.
Notification No. 18 /2014-Service Tax 25th August, 2014
Circulars issued by the Ministry of Corporate Affairs till-date, since the commencement of Companies Act, 2013.
1.
General
Circular No. 35/2014
dated August 27, 2014. It is a Clarification regarding AS-10 - Capitalization
of Cost.
AS-10 and AS-16 prescribes principles of
capitalization of various costs on the underlying principle that expenditure
should be capitalized as
Need Advocate/ CA for case of Competition Commission
CA/ Advocates, based at Delhi for filing and representing the case before Competition Commission.
CCI orders investigation against 'ICAI' as it was creating entry barriers to outsiders providing CPE seminars
Investigation was to be conducted against Institute of Chartered Accountants of India for abusing its dominant position in creating entry barrier to outsiders in providing CPE seminars.
Facts:
a) The informant was a
qualified Chartered Accountant while opposite party was the Institute of Chartered Accountants of India (ICAI).
b) The Informant alleged that ICAI introduced CPE Scheme for its existing members,
Tuesday, September 16, 2014
CBDT to provide affidavit to Delhi HC to say that Returns filed with Tax Audit reports will not be considered defective
As per Verbal discussion with CA Mahesh Kr who filled writ petition
1) IT dep has accepted that due date of ITR has not been extended.
2) CBDT to provide affidavit to Delhi HC to say that Returns filed with Tax Audit reports will not be
Non-filing of Form 3CA would not impose penalty when assessee had filed audit report under Companies Act
Non-filing of Form 3CA would not impose penalty when assessee had filed audit report under Companies Act
IT: Where assessee, a builder, filed audit report under section 224 of Companies Act, 1956, in such a case even though no separate report in
SEBI amends Cl 49 Impacting Corporate Governance Norms for Listed (Equity) Entitites
Some of the key highlights are as follows:
1] Appointment of Woman Director made applicable effective 1st April, 2015
Madras HC grants stay on recovery proceedings u/s 234E and restrains Revenue from giving effect to provisions of Sec 234E
Madras HC grants stay on recovery proceedings u/s 234E and restrains Revenue from giving effect to provisions of Sec 234E; Discusses distinction between a fee and a penalty; Highlights that Sec 234E does not speak about services rendered to a class of assessees, neither regulatory nor compensatory, in the nature of a penalty and not fee for services rendered;
Tax Audit under Income Tax and Cost Audit :: Correlation & New amendments Ensure the review of Cost Audit Reports (CAR) for the year 2013-14 before filing of Tax Audit Reports
Tax Audit under Income Tax
and Cost Audit :: Correlation & New amendments
Ensure the review of Cost
Audit Reports (CAR) for the year 2013-14 before filing of Tax Audit Reports
CMA Navneet Kumar Jain
Any organization has to
undergo many audits like Financial Audit, Tax Audit, VAT Audit, Excise Audit,
Service Tax Audit & Cost Audit. Cost Audit was made applicable to most of
the companies since the year 2011 and in the year 2014 again many of the industries were apparently excluded from
Vacancy for CA in JP Morgan chase
Job Description
Business Analyst-140094271
Job Description
Roles and Responsibilities – Analyst
This role is of a financial controller responsible for supporting
Banking Products. The responsibilities include Posting of accurate
accounting entries, Balance Sheet and P&L Reporting, Management
reporting, Reconciliations. S/he will also be
Monday, September 15, 2014
ICAI has finally made a revised representation to CBDT
After
lots of pressure from members and writs in High Courts , ICAI have
finally made a revised representation to CBDT today evening:
Following is the text Suggestion by ICAI:
Vacancy for CA/ICWA Final in HLL Lifecare Limited
Candidate profile
CA / ICWA (Final)
LLB / MBA (Finance) / M.Com (Taxation) desirable
Minimum 8 years plus relevant post qualification experience.
Intermediate (IPC) Course November 2014 Examination Subject : Applicable sections of the Companies Act, 2013- for Group II : Paper 6 Auditing & Assurance Intermediate (IPC) November 2014 Examination,
Intermediate (IPC) Course November 2014 Examination
Subject : Applicable sections of the
Companies Act, 2013- for Group II : Paper 6 Auditing & Assurance
Intermediate (IPC) November 2014 Examination,
Students may note that given below is the list
of sections of the Companies Act, 2013 (notified on 12th Sept, 2013)
which are applicable for Group II : Paper 6 Auditing & Assurance
subject Intermediate (IPC) Level November 2014 Examination.
| S. No. | Section No of the Companies Act, 2013 | Description of Section |
| 1 | 39 | Allotment of Securities by Company |
| 2 | 51 | Payment of Dividend in proportion to amount |
Non applicability of Sections 407 to 414 of the Companies Act 2013, for the Intermediate (IPC) Examination to be held in November 2014
Intermediate (IPC) Course students – November 2014 examination
Paper 2: Business Laws, Ethics and Communication
Non applicability of Sections 407 to 414 of the Companies Act 2013, for the Intermediate (IPC) Examination to be held in November 2014
It is hereby informed that Sections 407
to 414 of the Companies Act, 2013 relating to NCLT and NCLAT (notified
on 12th September, 2013) formed part of the syllabus
of the abovementioned paper
Few Study Suggestions for Company Secretary Course
Dear CS Aspirants,
Through this brief write up, I would
like to point out few essential points which need to be observed for
preparation of Company Secretary Course. Company Secretary Course is a
professional course known for its compliance related course structure.
After the applicability of Companies Act, 2013, the role of a Company Secretary has become more critical due to the enhanced rules and
Sunday, September 14, 2014
GST set to be rolled out by April 2016
India’s biggest tax reform initiative — Goods and Services Tax (GST) —
has entered the final leg of implementation with the government
planning to announce a roadmap to roll out the new indirect tax regime
by April 2016.
The Centre and states are believed to have agreed on a broad consensus on the issue of revenue losses
Saturday, September 13, 2014
Vacancy for CA/ICWA in HPCL
Hindustan Petroleum Corporation Limited (HPCL) invites online application for the recruitment of Industrial Engineer & More Vacancies with CA, BSc, BE/B.Tech, ICWA, PG Diploma, Diploma holders
Company name : Hindustan Petroleum Corporation Limited (HPCL)
Posts : Industrial Engineer & More Vacancies
Qualification : CA, BSc, BE/B.Tech, ICWA, PG Diploma, Diploma
Salary : Rs. 24,900-50,500/- P.M.
No of Post : 99
Location : Across India
Last date to apply : 16.09.2014
Details of Post :
Company name : Hindustan Petroleum Corporation Limited (HPCL)
Posts : Industrial Engineer & More Vacancies
Qualification : CA, BSc, BE/B.Tech, ICWA, PG Diploma, Diploma
Salary : Rs. 24,900-50,500/- P.M.
No of Post : 99
Location : Across India
Last date to apply : 16.09.2014
Details of Post :
Requirement of CA
Requirement of CA (fresher with 2 years with advanced knowledge of MS-Office)
Job description:
Direct Tax : Tax audit preparation and filing, preparstion for assessment and scrutiny, tax audit accounts and audit, tax planning, International taxation, applicability of TDS.
Indirect Tax: Applicability, filing, assessment and audits
Vote for Humanity - Google Science Fair 2014
VOTE FOR HUMANITY - GSF 2014
Hi Friend,
This is the Vote Appeal for a Noble Cause for the sake of Humanity. Please Vote Yourself and use Your Reach & Means to pursue with others to 'Prove to the World that Humanity still
Defination of Dormant Company
DORMANT COMPANY
Lets emphasis on Definition
of Dormant Company:
Dormant Company
means a company
1.
If a company is formed and registered under the Act for a future
project and
Registrar Cooperative Societies Delhi requires CA/CA Firms
Registrar Cooperative Societies: Description: CA/CA firms for Empanelment of their names as auditor in office of RCS for conducting the audit of Societies registered with the department. Last date: 30/09/2014 Address: Audit
Reasonable remuneration paid to secretary of trust, who is also a trustee is allowable
PNR Society for Relief &
Rehabilitation of the Disabled Trust Vs. DDIT (ITAT Ahmedabad), ITA No.
2729/Ahd/2010, Date of Order: 14/08/2014
In the instant case, the assessee is a charitable trust registered u/s. 12AA of the Act. The assessee trust paid remuneration
of Rs 4,80,000/- to Shri Anantbhai K. Shah who is a full time secretary
and trustee of the assessee trust. The Assessing Officer disallowed the
deduction claimed for above payment
on
GST – Amma wants Independent compensation mechanism for revenue losses suffered by States
Text of the D.O. letter dated
10.9.2014 addressed by Selvi J Jayalalithaa, Hon’ble Chief Minister of
Tamil Nadu to Shri Arun Jaitley, Hon’ble Union Minister of Finance, Corporate Affairs and Defence, New Delhi is reproduced below:-
“You may kindly recall that when I met
you on 3.6.2014 I had handed over a letter along with a background note
highlighting some of the crucial financial issues pertaining to Tamil
Nadu, including
Friday, September 12, 2014
Table for incorporation of companies
1.
|
Select Name of Person – who will be
promoters (At least Two Name)
|
NA
|
PROMOTER AND DIRECTOR MAY BE SAME.
|
|
2.
|
Select Name of Person-
who will be directors
(At least Two Name)
|
149(1)(a)
|
Rule-17(The Companies
(Incorporation) Rules, 2014
|
|
3.
|
Apply for- DSC of
Directors
|
|||
4.
|
Apply For- Din of
Directors
|
152(3)
|
Rule-9 The Companies
(Appointment and Qualification of Directors)
|
DIR-3
|
5.
|
Select Name of Company
|
Good News From TDS-CPC Regarding Multiple Challans
TDS-CPC on 10th of September,2014 has issued a communication to the Deductors regarding payment of TDS through multiple challans. The communication has made the TDS and its return process a bit simpler and has also cleared the difficulty of Deductors who have paid extra TDS during a year.
Following are the three important points as discussed in the communication:
Following are the three important points as discussed in the communication:
United Bank of India invites application for empanelment of stock & receivable auditors
United Bank of India invites application for empanelment of stock & receivable
auditors
Council Affairs: CCM Tarun Ghia's explosive E-mail regarding Disciplinary matters! Is this why DD was shunted out?
This e-mail by CCM from West region - Tarun Ghia, to his Council colleagues, is shocking, eye popping and opens a Pandora's box on how ICAI's disciplinary mechanism is working ( or otherwise ) .. Mr. Ghia has made serious allegations, insinuating "criminality" by certain "wrongdoers" with regard to disciplinary cases.. Mr. Ghia rightly, at the end of his mail, demands that " ... the entire
TRACES Update:Online Correction functionality enabled "without Digital Signature" for Financial Year 2012-13 onwards. Digital Signature will be required only for PAN Corrections.
Attention Deductors:
The Online Correction functionality with
Full day workshop on Companies Act by CA Nitesh More on 14 Sep,Sunday
Durgapur
(EIRC)
NOTICE
Dear
Members,
This is for your kind information that Durgapur
Branch of EIRC of ICAI is going to organize a Full Day Workshop on Companies Act, 2013 on Sunday, the 14th
September, 2014, at branch auditorium as per the following details:-
Registration:
- 9:30 a.m. to 10:00 a.m.
1st
Technical Session:
- 10:00 a.m. to 12:00 p.m.
Subject:
- Companies Act, 2013
Speaker:
- CA Nitesh More
Chairman: - CA Manoj Sharma, Chairman, ICAI, Durgapur Branch
2nd Technical Session: - 12:15 p.m. to 2:15 p.m.
Subject:
- Companies Act, 2013
Speaker:
- CA Nitesh More
Chairman: - CA Manoj Sharma, Chairman, ICAI, Durgapur Branch
3rd
Technical Session:
- 2:45 p.m. to 4:45 p.m.
Subject: - Companies Act, 2013
Speaker:
- CA Nitesh More
Chairman: - CA Manoj Sharma, Chairman, ICAI, Durgapur Branch
Tea Break : 12:00 p.m. to 12:15 p.m.
Lunch Break
: 2:15 p.m. to 2:45 p.m.
Registration Fee
: Rs. 500/- per member
Student Registration
Fee
: Rs. 200/- per student
CPE Credit: 6(Six Hours)
Thanks & Regards,
Managing Committee
Durgapur Branch of EIRC of ICAI
Assignments
- Nagar Nigam: Description: Appointment of Chartered Accountant Firm in type of Filed Level Consultant. Last date : 15/09/2014 Address :Allahabad - Uttar Pradesh.
- Bihar Gramin Bank: Description :Expression of Interest for Concurrent Auditor Services. Last date : 15/09/2014 Address :Bihar Gramin Bank Head office:
Thursday, September 11, 2014
Wednesday, September 10, 2014
Required CA Inter for Sr Accounts Executive: Leading Financial MNC
Job Description
Designation: Sr. Accounts ExecutiveLocation: Jogeshwari
Ideal Candidate:
1. CA Inter is preferred.
2. Good Accounting Knowledge
KPMG India deputy CEO Dinesh Kanabar to quit
http://www.livemint.com/Home-Page/DgM2f7PTBah81cQdVxplEL/KPMG-India-deputy-CEO-Dinesh-Kanabar-to-quit.html
Mumbai: Professional
services firm KPMG on Wednesday said deputy chief executive officer
(CEO) Dinesh Kanabar has decided to quit to pursue entrepreneurial
goals.
“It is time for me to make time for myself and my family. I will be
moving out to start my own venture,” said Kanabar, who was deputy CEO
for four years, said in a statement issued by KPMG.
He will leaving the company by the end of October this year, the
statement said.
The company’s CEO Richard Rekhy said Kanabar was instrumental in
rejuvenating KPMG’s tax practice and the markets function. The statement
did not mention anything about a successor.
“KPMG...will continue to aggressively invest in its growth strategy for
the country given the emerging positive business environment,” Rekhy
said. PTI
Comment E-mail Print 0
First Published: Wed, Sep 10 2014. 07 15 PM IST
KPMG India Dinesh Kanabar deputy CEO Richard Rekhy
by Taboola
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SC questions logic behind Kerala’s new liquor policy
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Read more at: http://www.livemint.com/Home-Page/DgM2f7PTBah81cQdVxplEL/KPMG-India-deputy-CEO-Dinesh-Kanabar-to-quit.html?utm_source=copy
Read more at: http://www.livemint.com/Home-Page/DgM2f7PTBah81cQdVxplEL/KPMG-India-deputy-CEO-Dinesh-Kanabar-to-quit.html?utm_source=copy
Mumbai: Professional
services firm KPMG on Wednesday said deputy chief executive officer
(CEO) Dinesh Kanabar has decided to quit to pursue entrepreneurial
goals.
“It is time for me to make time for myself and my family. I will be
moving out to start my own venture,” said Kanabar, who was deputy CEO
for four years, said in a statement issued by KPMG.
He will leaving the company by the end of October this year, the
statement said.
The company’s CEO Richard Rekhy said Kanabar was instrumental in
rejuvenating KPMG’s tax practice and the markets function. The statement
did not mention anything about a successor.
“KPMG...will continue to aggressively invest in its growth strategy for
the country given the emerging positive business environment,” Rekhy
said. PTI
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First Published: Wed, Sep 10 2014. 07 15 PM IST
KPMG India Dinesh Kanabar deputy CEO Richard Rekhy
by Taboola
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India staring at another insurance-linked scam
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Read more at: http://www.livemint.com/Home-Page/DgM2f7PTBah81cQdVxplEL/KPMG-India-deputy-CEO-Dinesh-Kanabar-to-quit.html?utm_source=copy
Read more at: http://www.livemint.com/Home-Page/DgM2f7PTBah81cQdVxplEL/KPMG-India-deputy-CEO-Dinesh-Kanabar-to-quit.html?utm_source=copy
ICAI - exam ranks
| 9th September, 2014 |
|
ICAI recognizes meritorious candidates in CPT, by
ranking them on the basis of the aggregate marks obtained by them in CPT
up to 10th rank, on an all India basis, subject to his/her having
secured a minimum of 60 percent marks.
There is no practice of declaring any candidate as having secured a rank beyond 10 in CPT. So also, ICAI recognizes meritorious candidates in Intermediate (IPC) and CA Final examination, by ranking them on the basis of the aggregate marks obtained by them in both the |
Recognition of Deferred Tax Assets for Unrealised Losses Proposed amendments to IAS 12 (Last date for sending comments: October 9, 2014) - (09-09-2014)
This Exposure Draft, published by the International Accounting Standards Board (IASB), contains proposed amendments to IAS 12, Income Taxes.
The proposed amendments are in response to a request to the IFRS
Interpretations Committee (the ‘Interpretations Committee’) to clarify
the
Advisory on Bank Audit:Donot give consent to multiple Banks or srtick action
| Allocation of Banks to CA Firms for Statutory Audit - Multiple Consent given by CA Firms - (07-08-2014) | ||
|
The Interview with Tax Audit Report Petitioners
CA Suhdir Halakhandi
The Mid-year introduction of New formats
of Tax audit reports and further extension of date of Tax audit report
without extending the date of filing of return has created a lot of
controversy and in this respect two writ petitions have been filed in Hon. Delhi high court and Hon. Gujarat High Court by CA Mahesh Kumar and CA Rajni Shah respectively and both are coming up for hearing on 15th
CA held guilty of professional misconduct for filing bogus form with ROC
Council of the Institute of Chartered Accountants of India Vs. Ved Prakash Verma (Delhi High Court), Appeal No. CHAT.A.REF. 5/2012, Date of decision: 10th July, 2014
The Disciplinary Committee of the petitioner gave the following reasons for holding respondent No.1 guilty as aforesaid:-
(I) that the Economic
Offences Wing of the Delhi Police, on the complaint of the complainant
company had found that Sh. Sanjay Daksha, Sh. Sofi-urrehman, Sh. Binod
Rajhans did not figure in
Provisions related to Internal Audit under Companies Act 2013
Section 138 of the Act provides that such class or classes of companies
as may be prescribed shall be required to appoint an internal auditor.
Such internal auditor shall be appointed by the board and may be a
chartered accountant or cost accountant or or such other professional as
may be decided by the board.
Following class of companies are covered for internal audit
Cenvat credit on inputs/ input services received by an output service provider prior to obtaining Service tax registration is admissible
Actis Advisers Pvt. Ltd. Vs. CST. -Delhi-IV [(2014) 9 TMI 182 - CESTAT New Delhi]
Actis Advisers Pvt. Ltd. (“the Appellant”) is engaged in providing ‘Management Consultancy Services’ (“output service”) mainly
to their overseas clients. Earlier, the Appellant’s Bombay branch had
Service tax registration and subsequently when the Delhi branch started
operating, they obtained
iPhone 6, iPhone 6 Plus to be available in India on October 17
Putting to rest months of speculation, tech giant Apple on Wednesday unveiled two thinner and
Tuesday, September 9, 2014
WRIT admitted in Delhi HC against TAR.
(Another two be filed at Gujrat. And Rajasthan High Courts)
Notices issued to Union of India through Revenue Secretary & Chairman CBDT for Final disposal of
Monday, September 8, 2014
ICAI STUDY TOUR TO UK AND IRELAND OCTOBER 26, 2014 TO NOVEMBER 2, 2014
| ICAI STUDY TOUR TO UK AND IRELAND OCTOBER 26, 2014 TO NOVEMBER 2, 2014 |
| 6 CPE Hrs |
The Institute of Chartered Accountants of India
(ICAI) had signed Memorandum of Understanding (MOU) with The Institute
of Chartered Accountants in England Wales (ICAEW) on November 19, 2008
and is being renewed for a further period of five years in November,
2014. In order to carry
|
Raising of number of partners in CA Firm with reference to the provisions of Companies Act, 2013
The
Council of the Institute has clarified that the earlier restriction of
maximum of 20 partners permitted for firms under section 11 of the
Companies act, 1956 is no more applicable to the firms as Section 464 of
the Companies Act, 2013 has been notified w.e.f 01.04.2014 wherein
sub-section (1) provides for a maximum number of partners permissible
for business firms at 100 and sub-section
|
Sunday, September 7, 2014
Govt won’t contribute to pension scheme of staff getting higher wages
If an employee is drawing a salary of more than Rs.15,000 per month and is an active member of the employees’ provident fund (EPF), then the government will not contribute to that person’s pension kitty from 1 September, the Employees’ Provident Fund Organisation (EPFO) said on Friday.
Every month, a salaried worker contributes 12% of the salary to EPF and the employer matches the investment. From what the employer contributes, 8.33% or Rs.541 (whichever is lower) goes into the
TDS Challan ITNS-281 has been amended so as to include 'Fee u/s 234E'
As
we all know about late fee of Rs. 200 per day for late filing of TDS
Return u/s 234 E, now TDS Challan ITNS-281 has been amended so as to
include 'Fee u/s 234E' in details of payment. Revised Challan is
attached. Also while making online
Saturday, September 6, 2014
Vacancy for CA/ICWA in Traco Cable Company
Traco Cable Company Ltd, Kerala has given a recruitment notification to fill the posts of Office (Finance)
Name of the Post: Office (Finance)
No: of Posts: 01
Requirement of 82CA,CS finalistat Banglore,Mumbai,Dumdum,Kolkata,Bangaluru,Delhi,Ghaziabad,Shimla,Raigarh,Raipur,MP& Noida
1) Required CA Inter qualified who have experience in ROC & IT efilling near
dumdum metro, Kolkata. Email cv to efilling2199@gmail.com
2)
A well known engineering group being pioneer in its line having Rs.1500 crores turnover,seeking qualified CS with around 5/6 years experience.The candidate should have experience in well known company with
MCA makes amendment in Schedule II of the Act related to Useful Lives for the purpose of computing Depreciation.
Ministry
of Corporate Affairs vide notification dated 29th August 2014 has made
amendment in Schedule II of the Act related to Useful Lives for the purpose of
computing Depreciation.
The
text of the amendment is reproduced as below:-
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