TCS of 1% applicable w.e.f 1/06/2016 if the consideration ( or any part of it) is received in cash of sale of ANY goods/ provision of any service.

Finance Act 2016 Section 206C(1D) (TCS) for immediate attention of All

w.e.f *01.06.2016*, if the consideration ( or any part of it) is received in cash of sale of ANY goods/ provision of any service (exceeding Rs. 2. lac), TCS @ 1% should be deducted.
Example: MR A purchases goods from distributor for Rs. 6.00 lac on 10.06.2016, payment of Rs. 598000/- has been made by cheque/RTGS on 11.06.2016, balance 2000/- has been paid in Cash on

Vacancy for CA/CA Inter in Randstad

job description

?SCOPE OF RESPONSIBILITY:

? Provide reports and analysis to Sales Organization to evaluate Sales goal. Develop

standardized methodologies aimed at improving operational efficiency.

PURPOSE OF THE POSITION

The Analyst is responsible for the collection, analysis, and reporting of sales related data in an on-

'Google tax' to be levied from June 1

The 'Google Tax' or 'Facebook Tax' which was first announced in the FY17 budget statement by Finance Minister Arun Jaitley will be levied from June 1. Here's all you need to know about it -- what Google Tax is, who will pay it, and its implications --
As the name suggests, it's got something to do with e-commerce companies.
The Google Tax was announced to introduce a tax on the income as accrue to a foreign e-commerce

Vacancy for CA/ICWA in Tata Communications

May independently conduct activities such as business case creation, AOP preparation, preparation & analysis of financials,etc. May lead important projects that require providing experienced project team members with instruction, guidance and advice in all aspects of the project to ensure delivery of quality

Due date of E-filing of appeals Extended

Circular No. 20/2016

F. No. 279/Misc/M-54/2016/ITJ

Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

New Delhi, Dated: 26th May, 2016

Subject:  E-filing of appeals: Extension of time limit - reg.

Rule 45 of the Income Tax Rules, 1962, mandates compulsory e-filing of appeals before Commissioners of Income Tax (Appeals) with effect from 01.03.2016 in respect of persons who are required to furnish return of income electronically. It has come to the notice of the Central Board of Direct Taxes (hereinafter referred to as the Board) that in some cases the taxpayers who were required to e-file Form 35, were unable to do so due to lack of

Vacancy for CA in Deloitte

Job Description

This is your opportunity to join Deloitte's Transaction Services practice. Working on high profile assignments, you will have the opportunity to be involved in a wide variety of corporate finance projects, with a mix of both corporate and private equity transactions, within a highly commercial, client focused environment.

What we do

Due diligence is now regarded as one of the most important milestones in a deal process

We offer a wide range of services, with projects tailored to a client's individual needs.

We provide dedicated support throughout the deal / transaction lifecycle from initial evaluation

CBDT issues CIRCULAR ON SEC.12AA regarding cancellation of registration of trusts

1527201655012(1).pdf

Vacancy for CA/CA Inter in Hathway

Job Description

Qualification CA/INTER CA

Experience: 8- 10yrs.

Job Profile

• Comprehensive knowledge and understanding of accountancy, taxation, financial processes and

CBEC issues circular on Accounting code for payment of Krishi Kalyan Cess

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF EXCISE AND CUSTOMS
(TAX RESEARCH UNIT)
NEW DELHI

CIRCULAR NO

194/04/2016-ST, Dated: May 26, 2016

Subject: Accounting code for payment of Krishi Kalyan Cess - regarding.

Chapter VI of the Finance Act, 2015 will come into effect from 1st June, 2016. Krishi Kalyan Cess is leviable on all taxable services, other than services which are fully exempt from Service Tax or

Vacancy for CA/Inter CA in Hyatt

Job Description 

Finance Manager-MUM000442

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. The Finance

CA, merchant bankers to determine Fair Market Value in indirect transfers

Under the draft rules, FMV in case of listed companies will be determined in relation to market capitalisation, book value of liabilities and number of shares held.(PTI)

Chartered accountants or merchant bankers will compute the fair market value (FMV) of assets in case of indirect transfer of assets by overseas companies on arm’s length basis, the revenue department today

Vacancy for CA / CA Inter in Shell

Auto req ID 18529BR Job Title Senior Team Manager – Manage Direct Tax Country of Work Location India Work Location Chennai Company Description The aim of the Shell Business Operations, Chennai is to provide the Group with operational excellence through highlighting and utilizing proces...read more

STATUTORY REGISTERS MANDATORY FOR THE YEAR OF 2015-16

STATUTORY_REGISTERS.zip Kindly find attached herewith STATUTORY REGISTERS for the financial year ended on 2015-16 as per latest amendments Pursuant to section 88 (1)(a) of the Companies Act, 2013 and rule 3(1) of the Companies (Management and Administration) Rules, 2014 are as fol...read mo

Vacancy for CA/ CA Inter in HDFC Bank

Click here to apply

The Vijaya Bank invites application for empanelment as concurrent audits

The Vijaya Bank invites application for empanelment as concurrent audits. For online application please click on:

Looking for CA partners

Looking for CA partners having exprnce more than 2 years in UP, Kolkata and Ahmedabad for 7 yrs old firm having 10 partners, 8 PAN India basis branches, including 2 FCA and DISA Qlfd,

Vacancy for CA/ICWA OR M. Com / B. Com / CA Inter in Aditya Birla Group

Job Description 

Requisition Title

:PF Accounts Indirect Taxation (Assistant Manager / Senior Officer) 

FEM (Exports of Goods and Services) Regulations, 2015

All AD Category – I Authorised Dealer Banks

Foreign Exchange Management (Exports of Goods and Services) Regulations, 2015

Attention of Authorised Dealers (ADs) is invited to A.D.(M.A. Series) Circular No. 11 dated May 16, 2000 in terms of which ADs were advised of various Rules, Regulations,

Workshop on Finnacle in CBS System

Workshop on Finnacle in CBS System 
Day & Time: 21st May 2016 (4.00pm to 7.00pm)
Venue: R.Singhi Hall, EIRC Premises
Fees: Rs. 200 (with Referencer)
CPE Hrs: 3 

Dear Esteemed Members,

Team EIRC has organised Workshop on Finnacle in CBS System, the details

Computation of book profits by Ind AS compliant companies for levy of MAT

1) Introduction

The provisions of Section 115JB provide for levy of MAT on basis of "book profits", i.e., the profit disclosed in profit and loss account prepared in accordance with provisions of The Companies Act. Ind AS compliant companies shall be required to bifurcate theirProfit or Loss account into

CAPITAL GAINS ON CONVERSION OF PARTNERSHIP FIRM INTO A PRIVATE LIMITED COMPANY

Introduction

The partnership firm and a private limited company are two different legal entities, with different legal liability.  The liability of a partner is different from that of the liability of a director in a

FINANCE MINISTRY REVIEWS PROGRESS OF GOLD RELATED SCHEMES

PRESS RELEASE, DATED 16-5-2016

A meeting under the Chairmanship of Shri Shaktikanta Das, Secretary, Department of Economic Affairs (DEA), Ministry of Finance was held here on Gold Monetisation Scheme (GMS) and Sovereign Bond Scheme (SBS) on 13.05.2016 with the senior executives of all Public and Private Sector Banks, RBI and Bureau of Indian Standard (BIS). Shri H R Khan, Deputy Governor, RBI

The Future Audit Team: Smaller, Nerdier, Expensiver

As auditing changes, naturally, so will the auditors. Technology drives a lot of this change so it stands to reason that people who understand and build technology will become the new auditors. Or, maybe accounting programs will become more technology focused.
Either way, recruiting auditors will look very different and sooner than you might think. This Financial Times article covers this pretty well but you can boil things down to these four quotes:

PROFESSIONAL OPPORTUNITY - RECRUITMENT IN ALLAHBAD BANK

Allahabad Bank invites Online Applications for recruitment to the posts of 60 Specialist Officers. [50 Chartered Accountant/Financial Analyst in MMG Scale-II.  Pay scale of MMG Scale-II:Pay Scale:31705-1145-32850-1310-45950

Last date to apply 30.05.2016.

For detail please click on:

INCOME DECLARATION SCHEME, 2016 - DECLARATION OF DOMESTIC BLACK MONEY FROM 1-6-2016 TO 30-9-2016

PRESS RELEASE, DATED 14-5-2016

The Income Declaration Scheme, 2016 incorporated as Chapter IX of the Finance Act 2016 provides an opportunity to all persons who have not declared income correctly in earlier years to come forward

ABATEMENTS IN SERVICE TAX: CHANGES W.E.F. APRIL 2016

Article Change in Abatements (w.e.f. 1.4.2016 - Vide Notification No. 8/2016-ST dated 1.3.2016) Vide Notification No. 8/2016-ST dated 1.3.2016, abatement conditions and rates have been rationalized w.e.f. 1.4.2016. The changes have been made in respect of services by –

Effective Rate of Service Tax under Abatement, Reverse Charge and Valuation Rules after introduction of KKC

Article Dear Professional Colleague, Effective Rate of Service Tax under Abatement, Reverse Charge and Valuation Rules after introduction of KKC Pursuing with an objective to finance and promote initiatives to improve agriculture and farmer welfare, the Government has announced a new cess namely ‘Krishi Kalyan Cess’ (“KKC”), to be levied at 0.5% on the value of all taxable services w.e.f June 1, 2016. In this regard, a new Chapter VI has been inserted in the Finance Bill, 2016, that

CIT vs. Amitabh Bachchan (Supreme Court)

S. 263: Even if AO applies mind and decides not to assess expenditure as unexplained u/s 69C because the assessee withdrew the claim for deduction, the CIT is entitled to revise the assessment on the ground that the matter needed further investigation

(i) The CIT took the view that notwithstanding the withdrawal of the claim by the assessee, in view of the earlier stand taken that the said expenses were incurred for security purposes of the assessee, the Assessing Officer ought to have proceeded with the matter as the assessee was following the cash

Mauritius investors to be taxed from Apr 2017

The government has gained the right to tax capital gains arising in Mauritius from sale of shares acquired on or after April 1, 2017, in Indian companies.

India and Mauritius on Tuesday signed a protocol for amendment of a three-decade-old double

Require CA Firm

We wish to acquire a CA firm. The firm should be at least 10 years old. If any firm is available for sale, the concerned person may contact to me.

Thanks and with regards,

ICAI planing to hold CPT (foundation course) in May-Nov.

Punjab & Sind Bank invite online application from Chartered Accountant for empanelment as Concurrent Auditor.

Last date is 31/05/2016

The following criteria shall be adopted while selecting a firm for concurrent audit assignment:

i.The Chartered Accountants firm should preferably be a partnership firm with at least one FCA partner

ii.The Sole Proprietorship Chartered Accountant firms will be discouraged, however, in case proprietor is a FCA and has employed an ex-banker of scale-II & above for conducting concurrent audit, the ACE, on merit of each such case, would

UnitedHealth Group Gurgaon Recruitment 2016 for C.A. (Inter) Senior Accountant

Position Description

Brief Description:
Receiving, verifying and processing vendor invoices
Maintaining Invoice trackers
Maintaining contract / agreement repository
Reviewing employee expense reimbursements
Processing payments
Working with internal stake holders on vendor issues

Download CA IPCC Tax Suggested Answers May 2016.

 In the previous article, we have given CA IPCC Tax Question Paper May 2016. After completion of Tax exam, everyone wants to know

POWERGRID Recruitment 2016 for CA,ICWA,CS Deputy Manager

POWERGRID, the Central Transmission Utility (CTU) of India and a Navratna Public Sector Enterprise under the Ministry of Power, Govt. of India is engaged in power transmission business with the mandate for planning, co-ordination, supervision and control over complete inter-State

Free Download CA Final Direct Tax Question Paper May 2016

Free Download CA Final Direct Tax Question Paper May 2016. Students should go through the ‘Study Material‘ for conceptual clarity & understanding and while doing so they should never hesitate to refer some good books so that no doubt can creeps into their mind. Make necessary notes

CA IPCC Suggested Answers May 2016

CA IPCC Suggested Answers May 2016 to Nov 2009. In the previous post, we have given CA IPCC Question Papers from May 2016 to May 2010. Today we are providing CA IPCC suggested answers of previous exams i;e last 10 attempts. Now you can download CA IPCC suggested answers of both Group – 1 and Group – 2, Accounts, Law ethics and communication, Cost

JK Shah classes launches online classes

REVERSE CHARGE ON “ANY SERVICE” RECEIVED FROM GOVERNMENT: ALARM BELL FOR ALL BUSINESS ENTITIES FROM 1st APRIL 2016

The striking difference between the Service Tax and Income Tax is that under Income Tax Government is not included in the definition of person and, thus, is not a taxable entity. However, under the Service Tax as per section65B(37) of the Finance Act, 1994 person includes Government and, thus, the Government is a taxable entity and the services provided by them, unless

CSR expenses must be treated as non-cost items: ICAI

Companies need to treat expenses related to CSR activities as non-cost items and separately disclose transactions in this regard where related parties are involved, according to cost accountants’ apex body ICAI.

In a detailed exposure draft of guidance note on ‘Treatment of Costs Relating to CSR Activities’, the

Impact of liquor ban - surplus molasses - Centre accepts Bihar's proposal for lifting 6 cr litre of ethnol for bleding with petrol scheme

NEW DELHI, : RECENTLY, Government of Bihar has announced a New Excise Policy, wherein total ban has been imposed on liquor. Government of Bihar had requested Ministry of Petroleum & Natural Gas to explore whether the oil companies would be able to lift the entire ethanol produced by the distilleries in Bihar.

The Central Government is keen to undertake developmental works more specifically for the agriculture sector in the State of Bihar. The proposal of Government of Bihar has been considered by

Significant amendments to the India – Mauritius DTAA

Government of India has made some significant amendments to the India – Mauritius DTAA by entering into a Protocol. The amendments will have far reaching implication on the investments routed through Mauritius.”

Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

PRESS RELEASE

New Delhi,

10thMay, 2016

Subject: Protocol for amendment of the Convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital gains between India and

Refund of IT will be issued fast

Pre-multipurpose empanelment form (P-MEF) for the year 2016-17

1. Pre-multipurpose empanelment form (P-MEF) for the year 2016-17 is now hosted at

Union Budget 2016-2017 Announcements for units located in IFSC - Gujarat gift City

Union Budget 2016-2017 Announcements for units located in IFSC
1    Minimum Alternate Tax (MAT) reduced from 18.5 % to 9 % in IFSC
2    Security Transaction Tax (STT) waived off
3    Commodity Transaction Tax (STT) waived off