Wednesday, March 6, 2013

Vacancy for CA in Project Finance Consultancy Firm

The ICAI has recently released various publications

The ICAI has recently released various publications :
.
.
1. Accounting Standard for Local Bodies
.
2. Construction Contracts
.
3. Practitioner & HUF : A practitioners' Perspective

Chairman’s Message and activity report February 2013 ICSI THRISSUR CHAPTER

Chairman’s Message

Dear professional colleagues,

It was indeed a great relief for lot of corporates and the markets, investors, and citizens of the country due to the roll back measures announced by the Hon'ble Finance Minister in the budget 2013.

On 21^st February, I had the pleasure to represent the Thrissur Chapter at the Interaction meeting organized

Company:	Randstad India Limited
Industry:	Biotechnology/Pharmaceutical/Medicine/Healthcare
Job Function:	Finance & Accounting

Company Details: Gujarat Narmada Valley Fertilizers and Chemicals Ltd - GNFC is Indias leading player in the Fertilizer industry and has ambitious plans to attain leadership position for its Chemicals and IT divisions. The company is currently executing various projects including the TDI project at Dahej to achieve its targets for the next five years.

BIG 4 AND CHINA

The Shanghai chapter of the All-China Federation of Trade Unions is pushing to unionize PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young and KPMG. Chinese law

Those who are interested in doing management training in Mumbai, please send urgent resume to

Half day seminar Chennai West study circle on Companies Bill

Dear All

Chennai West Study circle next meeting will be held as per programme
appended below.

We request you to take part in the half day seminar. We are organising the
same in Guindy location

Kindly confirm your participation in

The claim u/s 54F of I T Act 1961 cannot be denied on the ground that the residential house was purchased in the name of wife. held by

Seminar on “Practical Aspects of Cost Accounting Records and Cost Audit” on Monday, March 18, 2013 at New Delhi.

2013-03-06

Vacancy for CA in HSBC

Job Title
Assistant Manager – Insurance Accounting & Reporting, Gurgaon

Job Description

Review of Journal Entries, consolidation of financial / non-financial management information for a highly complex set of insurance businesses.
Review of P&L and balance Sheet Schedules
Produce and analyze ad hoc management information to exacting timescales for executive

Company:	Allbank Finance Ltd.
Industry:	Accounting/Banking/Financial Services/Stock broking
Job Function:	Finance & Accounting

Company Details: AllBank Finance Limited, Category - I Merchant Banker and wholly owned subsidiary of Allahabad Bank.

Job Description:

EXEMPTION UNDER NEW SYLLABUS !

NEW FRAUD in Bombay with Chartered Accountant- be careful

This happened in Mumbai.. An incident narrated by one of the Chartered Accountants...

It all started when I received a call from someone claiming that he was from my mobile service provider and he asked me to shutdown my phone for 2 hours for 3G update to take place. As I was rushing for a meeting, I did not question and shutdown my cell phone. After 45 minutes I felt very suspicious since the caller did

Notification for Tax Collection at Source by Maharashtra State Authorities under section 31A, in respect of Excavation of Sand

Notification for Tax Collection at Source by certain Authorities under section 31A, in respect of Excavation of Sand as follows:

Company:	General Insurance Corporation Of India
Industry:	Government Sector
Job Function:	Banking & Insurance

Company Details: GIC Re, The Indian Reinsurer and Worlds 15th Largest Reinsurer.

Job Description:

Young, Engetic and Ambitious Graduates / Post Graduates, to grow up with the expanding Indian insurance industry. GIC Re welcomes you to be a part of its family - A Bachelor in Chemical, Electrical, Electronics, Information Technology Engineering, Agriculture, Commerce, Law, English, Maths, Statistics and Medicine. Desirable Qualifications - Post graduate Degree in

The Works contract composition provisions under Delhi VAT shall be significantly revamped

The Works contract composition provisions under Delhi VAT shall be significantly revamped w.e.f 1.4.2013. The details of Revised composition model under VAT is as detailed hereunder. We are pleased to forward the analysis of the changes suggested.

Governing Statute for New Model

· Effectuated vide Notification No. 3(13)/Fin.(Rev-I)/2012-13/dsvi/180 dated 28^th February,2013.

· This notification shall come into force with effect from 1st April 2013.

· Revokes earlier Notifications No.F.3(78)Fin.(T&E)2005-2006/1508-kha dated 17-3-2006.

Prudence Leads to “Cookie Jar Accounting”

By Katharina Schlueter

IASB chairman Hans Hoogervorst is critical of the concept of prudence, believing that companies could be smoothing their figures under its guise. He believes conservative accounting comes at the cost of transparency and trust in financial figures.

IASB chairman Hans Hoogervorst is critical of the concept of prudence, believing companies could be smoothing their figures.

When the international accounting standard-setting body IASB changed its IFRS Framework by replacing the

Job Description

Tax Manager-604664

Description

Position Summary NCR Corporation (NYSE: NCR) is a global technology company leading the way businesses interact with customers. NCR’s assisted and self-service solutions and comprehensive support

ST : Retrospective amendment in section 65(105)(zzzz) by Finance Act, 2010 levying service tax on renting of immovable property, per se, is constitutionally valid

ST : Retrospective amendment in section 65(105)(zzzz) by Finance Act, 2010 levying service tax on renting of immovable property, per se, is constitutionally valid

[2013] 31 taxmann.com 16 (Madhya Pradesh)


Job Description :
	Designation: Internal Auditor Exp: 3 - 5 yrs Qualification: CA / Chartered Accountant Industry: Banking, Broking, NBFC

IT : Expenditure incurred on false ceiling and office renovation on leased business premises are allowable as revenue expenditure

Vacancy for CA in Pfizer

Role Description
Group/Department: Corporate Audit

Position Purpose:

The Senior Auditor will have primary responsibility for participating as a member of a team of financial and IT auditors conducting independent audit and risk oversight activities at Pfizer locations worldwide. They also participate on strategic teams within Corporate Audit.

Core Responsibilities and scope of work:

Credit taken on capital goods cannot be denied on ground that same was used for processing of semi-processed goods on job work basis

MODVAT - Credit taken on capital goods cannot be denied on ground that same was used for processing of semi-processed goods on job work basis which are exempted under Notification No 214/86-CE - Revenue's appeal dismissed: HC

MUMBAI, MAR 06, 2013: THE CCE, Goa has filed a Central Excise Appeal before the Bombay High

Applicability of Revised Format of Audit Report and Reporting

I write this to once again bring to your attention that:

The audit reports in respect of audits of financial statements for periods beginning on or after 1^st April 2012 are to be issued in this revised format. The text of the revised auditor’s report format appears in the Appendix to the Revised SA 700 and can be downloaded from website of the Institute of Chartered Accountants of India at

Company:	J K Cement Ltd
Industry:	Manufacturing
Job Function:	Finance & Accounting

Company Details: JK Cement Ltd.

Job Description:

Smart, young qualified and result oriented professionals for their Grey Cement Plants and New Projects at

Applications invited from Audit Firms for conducting audit in the Bank by Indian bank

Applications invited from Audit Firms for conducting
forensic audit in the Bank by indian bank.

The details are attached.

Daily forum Activator Award Earn free talktime daily for posting your queries and replies at Forum

Hi all!

Daily Forum Activator Award

The award for the winner is Rs.50 worth of free talktime

Terms & Conditions:

Daily Quiz (06/03/13) What is Alternate Minimum Tax (AMT) and is applicable to whom?

Daily Quiz (06/03/13) What is Alternate Minimum Tax (AMT) and is applicable to whom?

The member providing the first correct reply shall receive free talk time worth Rs.20 award.

The member providing the second correct reply shall receive free talk time worth Rs.10 award.

New fresher CA [Male only ] required

We urgently need a fresh CA [Male only]

We specialise in Bank concurrent audit and stock audit

Our office is based in dadar

salary payable as per experience

Kindly contact at this email id or at

EMPLOYEE DISCIPLINARY PROCEEDINGS AFTER 23 YEARS

When a supervisor is hauled up after 23 years for his alleged laxity in supervising construction, examined by an enquiry officer without witness and called upon to cough up about Rs 3.70 lakh in sixty instalments, it amounts to a grave injustice to such employee inasmuch as he would not be having in his possession any evidence to plead his innocence. The Madras High Court in Tamil Nadu Housing Board vs. R. Chakrapani

CIT vs. Bennett Coleman & Co. Ltd (Bombay High Court)

No s. 271(1)(c) penalty if income not offered to tax due to “inadvertent mistake”

The assessee claimed deduction/ exemption of interest on tax-free bonds of Rs.5.60 crores. When the AO asked the assessee to give details of the interest on tax-free bonds, the assessee stated that it had inadvertently treated taxable interest of Rs. 75 lakhs as being tax-free and offered the said sum to tax. The AO levied penalty u/s 271(1)(c) for concealment of income/ filing inaccurate particulars of income. This was

Serious Fraud Investigation Office (SFIO) plans to set up a forensic audit laboratory next fiscal

To strengthen its overall capabilities, Serious Fraud Investigation Office (SFIO) plans to set up a forensic audit laboratory next fiscal.

SFIO, under the Corporate Affairs Ministry, has the mandate to investigate corporate frauds and is probing many high profile cases.

For setting up the laboratory, the agency will soon enter into a pact with the National Institute of Electronics

E-filing must for annual income of over Rs 5 lakh’

Taxpayers having an annual income of over Rs 5 lakh will be required to file their returns in electronic form, a senior Finance Ministry official said today.

Besides, the Finance Ministry is also making provisions for e-filing of Wealth Tax returns.

“Income tax returns for the group above Rs 5 lakh is must, and all such returns will be e—filed. This is a move towards using technology so that the interface between Assessing Officer and assessee is

Service Tax - A peep into Amnesty Scheme

THE journey of taxation on services began in July, 1994 by selective taxation of three services. With consistent increase in tax rate and widening of tax base by addition of new services under the tax net, the once moderate collections of service tax are now one of the key contributors to the Government's revenue

BCA

Referencer 2013-14

51 years of BCAS Referencer!

The New BCA Referencer helps you to take care of wealth and health. Increasingly hectic professional lives makes it essential to find a balance and put your personal health back on track. With it’s theme Healthcare, this Referencer does just that! Along with professional guidance it also guides you in adopting a more healthy

Budget Booklet 2013-14 of Lucknow CA Club

I am happy to introduce the Budget Publication: 2013-14 of Lucknow Chartered Accountants Club (LCAC). This is the sixth successive publication of its kind by the Club. The previous Booklets plus Ready Recokner have received a great response and appreciation from all of you and for this

ICAI will be Conducting of Mock Tests for Intermediate (IPC) and Final Course students for May, 2013 Examinations - (01-03-2013)

Conducting of Mock Tests for Intermediate (IPC) and Final Course students for May, 2013 Examinations - (01-03-2013)

With a view to further encourage the students to evaluate their preparation for the examination, the Board of Studies has prepared Mock Test Papers for Intermediate (IPC) and Final Course students to assess their

IT : Electricity charges are in nature of statutory liability

IT : Electricity charges are in nature of statutory liability and revenue has to allow them as deduction irrespective of whether or not same have been paid and notwithstanding that assessee has disputed any

Religious symbols and ICAI

Dear Mr. Chairman,

I have perused the Newsletter of March, 2013 of the Hyderabad Branch which you have sent to us vide trailing mail and request you to not to post the same to the Members for the following reasons:

http://220.227.161.86/29140guidance-ogpa.pdf

Chartered Accountants Association, Jalandhar in association with DLF & Capital Properties is organizing a Seminar on Income Tax

We are pleased to inform you that the Chartered Accountants Association, Jalandhar in association with DLF & Capital Properties is organizing a Seminar on Income Tax as per the details below:

Programme:

Day & Date : Wednesday, 6^th March 2013

Registration : 6.30 P.M. to 6.45 P.M.

ICAI Students' Journal - March 2013

http://www.icai.org/post.html?post_id=6894

Base Erosion and Profit Shifting (BEPS): Changing the Rules

The last few months has seen an extraordinary attack on the tax planning activities of the world’s largest companies. The attack has come from multiple directions: the UK Parliament’s Public Accounts Committee has publicly criticized the transfer pricing practices of Google, Amazon, and Starbucks; governments in Australia, New Zealand, France, and

Japan's 2013 Tax Reform Proposals and Treaty Amendments: What Will Be the Net Effect?

Japan's 2013 tax reform proposals, along with amendments to the U.S.-Japan tax treaty, aim to encourage corporate expansion and promote cross-border investment. Will the net impact of these changes be beneficial for companies and individuals? We’ll discuss:

Enhanced tax measures and credits for corporate investment in production facilities, job creation, salary growth,

SIRC ICAI EGM 28 MARCH 2013 RESOLUTIONS

RESOLUTION No. 1

BACKGROUND*

We find that one Central Council member on 1st March 2010 sent SMS and letters to

members for suggestion in improving the examination system of ICAI. During the past 2

years he has been claiming that he brought in several changes, and innovations in the

public_notice_last

Monday, March 4, 2013

Vacancy for CA/ICWA in HDFC BANK- Mumbai, Kolhapur and Indore

Position	Credit Manager - Commercial Vehicle - Construction Equipment Loan
Work Location	Kolhapur, Mumbai, Indore
Date Posted	Monday, March 04, 2013

Responsibilities

Evaluation of Proposals put up for recommendation / approval
Ensuring completion of file with all documents required as per policy, prior to Credit

Company:	Symbiosis Open Education Society
Industry:	Educational/Training
Job Function:	Finance & Accounting

Company Details: Symbiosis Open Education Society - SOES, an Educational Society having 4 constituent institutes, reputed for excellence in distance and vocational education.

Job Description:

Candidate should be CA/ICWA/MBA - Finance with minimum 8 - 10 years experience out of which at least 3-4 years in leadership position. Responsible for budgeting, MIS, Investment monitoring, Banking, facilitating audit, cost control, taxation & day to day

Company:	Calyx Chemicals & Pharmaceuticals Limited
Industry:	Biotechnology/Pharmaceutical/Medicine/Healthcare
Job Function:	Finance & Accounting

Company Details: Calyx has been a preferred CRAMs & API supplier to customers around the world. Now more than ever before, we are dependent on our global professionals to take us to new heights. While our attractive compensation packages are further enhanced by our ESOP and profit-sharing plans, our impending IPO makes this one of the most exciting times to

Ph.D Programme by Indian Institute of Foreign Trade

Eligibility: BE/B.Tech
CA
CS
ICWA
M Phil / Phd
MBA/PGDM
Diploma
Location: Delhi
Job Category: Scholarships
Last Date: 5 April 13

Job Type: Full Time
Hiring Process: Written-test.

Job Details

Indian Institute of Foreign Trade, conduct Ph.D Programme www.freshersworld.com
Eligibility : Master’s degree (including IIFT MPIB / MBA(IB)) / M.Phil degree in any discipline from a recognized university with at least 55% marks or equivalent to B Plus in aggregate. or Four years of B. Tech / B.E. or equivalent degree in engineering) from a recognized university with

Vp/gm (finance, Banking,accounts CUM Company Secretary) / Chennai by Foods Fats and Fertilisers Ltd

HANDLING , WORKING CAPITAL(UNDER CONSORTIUM), TERM LOANS ,SECRATARIAL & CORPORATE LAW MATTERS AND TREASURY FUNCTIONS.

Salary: Salary WILL NOT BE A Constraint FOR THE Right Candidate.

Opening for the Post of Mgr./sr. Mgr. - Audit Met trade India Ltd. (MTIL)

Company Introduction :

Met trade India Ltd. (MTIL) is a leading Co. engaged in Non ferrous Metal Production specially Aluminum, Lead, Copper, Zinc & Tin. The company is also one of the biggest producers of lead and only producer of pure Tin in India. With a Turnover of Rs.1500 Crores it is among the top notch leading business houses in

PEC Ltd vacancy for Chief General Manager(Finance)

The candidate should be a CA/ICWA with graduation. Preferance will be given to persons with MBA qualification in Finance.

Pay Scale: 51,300-73,000/- (I.D.A)
Age should not more than 47 years on 31 March, 2013.
The Job description includes responsibility of finance, accounts and fund management of the organization and

HINDUSTAN INSECTICIDES LTD

(A Govt. of India Enterprise)

(An ISO 9001 2008 Certified Company)

SCOPE COMPLEX, CORE-6, II-FLOOR,

7, LODHI ROAD, NEW DELHI-110003,

Tel. :24361019, Fax No. : 91-11-24362116

Website :- www.hil.gov.in

E-mail- hq@hil.gov.in

Invites applications for the following position:

Vacancy for CA/ICWA in HSCC Ltd

http://www.jobsvision.co.in/job-notification/HSCC-Limited/11432

Rajasthan VAT filing date for Q3 FY 2013-2013 has been extended

Notification.pdf

Job for CA/ CA Inter in Delhi

Opening for Chartered Accountants at Kalgidhar Trust in New Delhi.

Qualification- CAs (with min. 3 years exp.) or cleared Inter (with min. 5 years exp.)

	"Arise, Awake and Stop not till the Goal is reached."
	-Swami Vivekananda
Dear Professional Colleagues,
The month of March has begun and I hope you all must be very busy with your professional assignments. Inspite of this busy schedule, I am sure that you all must have already started planning for the next year.
We at Institute have also started this planning exercise. The idea is to develop new approaches for sustainable growth of the profession of Cost and Management Accountancy. Management Accountancy is a complex

TCA Jaipur has decided to publish new directory duly updated the members details

DEAR MEMBERS

TCA Jaipur has decided to publish new directory duly updated the members details. All the existing members are requet to please fill up the enclosed form and send it to TCA office or below mentioned

N A Shah Budget 2013.pdf

N A Shah Key Devlp 12-13.pdf

E&Y Budget 2013.pdf

BDO Budget 2013.pdf

KPMG Budget 2013.pdf

The Supreme Court has enumerated six specific issues that are not amenable to arbitration.

Tenancy matters are one of them and hence even if there is a broad provision for referring disputes to the arbitrator, the issue of tenancy would remain outside his pale said the Punjab and Haryana High Court in St.

Srinagar, Mar 3: Institute of Chartered Accountants of India (J&K branch) has elected its new executive committee.
It has elected chartered accountant, Dalip K Kaul, as chairman and chartered accountant Vikram Garg

TEN MISCONCEPTIONS IFRS

Danjou's presentation was recently translated by the IASB into English, and the "10 misconceptions" which he addresses in his remarks, with input from IFRS Foundation Chairman Michel Prada with respect to questions relating to the IFRS Foundation and governance of the two bodies, are summarized below (page numbers in parentheses refer to page numbers in the document):

Vacancy for CA in Deloitte

http://careers.deloitte.com/jobs/eng-global/details/j/63704/assistant-manager-statutory-audit?src=JB-16801

Appointment of Internal Auditors for Registered Office Krishna Bhagya Jala Nigam Limited

Krishna Bhagya Jala Nigam Limited

Last Date : 04/03/2013
Appointment of Internal Auditors for Registered Office & at Project Offices for The Year 2013-14 And 2014-15

Address: KRISHNA BHAGYA JALA NIGAM LIMITED (A Government of Karnataka undertaking) PWD Office “Annexe” III floor, K.R.Circle, Bengaluru – 560 001
Phone:
Email:

Empanelment of Firms of Accountants for Conducting Audit Under Section 58A

Department Of Trade And Taxes

Last Date : 04/03/2013
Empanelment of Firms of Accountants for Conducting Audit Under Section 58A

Address: Department Of Trade And Taxes Govt. Of Nct Of Delhi Vyapar Bhawan, I.p. Estate, New Delhi
Phone:
Email:

Consultancy services firms / CA firms and organizations for migration of single entry Ac counting system to accrual based double entry accounting system

Urban Administration And Development

Last Date : 04/03/2013
Consultancy services firms / CA firms & organizations for migration of single entry Ac counting system to accrual based double entry accounting system, preparation of opening balance sheet, updation of fixed asset register valuation of fixed assets and handholding support of urban bodies.

Address: Urban Administration And Development Palika Bhavan Shivaji Nagar Near No, 6 Bus Stop Bhopal -426016,MP
Phone:
Email:

Expression of interest at carrying out the procurement and civil works audit under European commission state partnership program.

Department Of Public Instruction

Last Date : 04/03/2013
Expression of interest at carrying out the procurement and civil works audit under European commission state partnership program.

Address: Directorate of Public Instruction Chhattisgarh, Composite Education Building Pension Bada, Raipur (C.G.)
Phone: 0771-2331385
Email:

Requirement of chartered accountant firms

Zilla Panchayat - Durg

Last Date : 04/03/2013
Requirement of chartered accountant firms

Address: Zilla Panchayat Durg,Chhattisgarh
Phone:
Email:

Stringent Penal Actions re-introduced in Indirect Tax Laws

ON September 30, 2011, the Hon'ble Supreme Court in the case of Om Prakash Vs Union of India (2011-TIOL-95-SC-CX-LB) had held Customs and central excise duty evasions and other offences, which are non-cognizable, are also bailable .

Former FM Pranab Mukherjee in the last budget attempted to make amendments to reverse this verdict but,

CRISIL deplores Govt's revenue slipshod; gives guarded welcome to Budget

CRISIL deplores Govt's revenue slipshod; gives guarded welcome to Budget

NEW DELHI, MAR 03, 2013: STANDARD and Poor's Indian subsidiary CRISIL has dubbed the slippages in India's tax and non-tax revenue targets over the years as "poor revenue marksmanship".

In its analysis of the Union Budget for financial year 2013-14 unveiled on 28 th February, CRISIL asks:

Budget 2013 - An Analysis of Service Tax Proposals

Budget 2013 - An Analysis of Service Tax Proposals

By Nikhil M. Jhanwar,

THROUGH this Article the author has tried to provide a quick insight to the changes proposed in Budget in respect of Service Tax.

A. Amendments in Finance Act, 1994. ( on enactment of Finance Bill, 2013)

Direct Tax but indirect Amendments

By R Raman, Senior Manager (Accounts), Wheels India Limited, Chennai

OUR thanks to FM for giving a relief of Rs.2000/- to the tax payers whose income is in between Rs.2,20,000/- and Rs.5,00,000/-. This budget seems to be more towards welfare angle than finance angle.

ADDITIONAL DEPRECIATION:

With an intention to promote Socio-Economic Growth, provisions to grant an incentive for acquisition and installation of new plant or machinery by manufacturing companies is proposed in the recent Finance Bill

Warren Buffett

Over the last half-century, Warren E. Buffett has built a reputation as a contrarian investor, betting against the crowd to amass a fortune estimated at $54 billion.

Mr. Buffett underscored that contrarian instinct in his annual letter to shareholders published on Friday. In a year when Mr. Buffett did not make any large acquisitions, he bought dozens of newspapers, a business

Companies Bill contains numerous provisions aligned to International Financial Reporting Standards.

Companies Bill contains numerous provisions aligned to International Financial Reporting Standards. Under the Bill, utilisation of securities premium will be restricted to a prescribed class of companies whose financial statement complies with specified accounting standards. In meeting IFRS requirements, such companies cannot utilise the securities premium to write off preliminary expenses of the company, write off preference

Warren Buffett: Bow deeply when you see Ajit Jain

Describing him as one of Berkshire Hathaway’s terrific managers, billionaire investor Warren Buffett has said that Ajit Jain insures risks that “no one else has the desire or the capital to take on”.

Showering accolades, Buffett asked shareholders to “bow deeply” if they happen to see Jain at the annual

Hyderabad Branch split wide open; Newsletter publication stopped by ICAi

Hyderabad Branch split wide open; Newsletter publication stopped by ICAI Secy.

If any evidence was needed that our profession has gone the BCCI way and is now mainly about power politics, pls see the mails below... Hyderabad too has gone the way of many other branches of ICAI... where the Managing Committee is badly divided... in this case however i actually believe that the action taken by the Secretary to order stopping of Branch newsletter is right on 2 counts... but on one count it sure isnt -

AUDITORS OFFICE SEARCHED

How Deloitte US May Be Held Liable For ChinaCast Fraud

By Francine • Feb 28th, 2013 • Category: Pure Content, The Big 4 And Globalization

ChinaCast was a Delaware company traded on NASDAQ that has a significant number of US investors. The company's operations, providing post-secondary education and e-learning services, are inChina. According to a recently filed lawsuit, Deloitte Touche Tohmatsu CPA Ltd (DTTC) in Beijing, Peoples

Two-day meet of CAs in Bangalore

BANGALORE, MAR 1:

Karnataka State Chartered Accountants Association (KSCAA) will hold a two-day annual meet on March 2 and 3 at the Jnana Jyothi Convention Centre, Bangalore.

According to B. V. Maddanaswamy, President, KSCAA, “the meet is structured to identify chartered

Circular_no_1213093.rar

HIGHLIGHTS OF DIRECT TAX PROPOSALS IN FINANCE BILL 2013

HIGHLIGHTS OF DIRECT TAX PROPOSALS IN FINANCE BILL 2013

1.    No revision in the slabs or the rates of Personal Income Tax.

2.    However, relief in the form of tax credit of Rs. 2,000 is given to the taxpayers falling under the first slab i.e, upto Rupess five lakhs.

3.    Surcharge @10% is levied on persons (other than companies) whose taxable income exceeds Rupees

Daily Quiz (02/03/13) What is the definition of taxable territory in the context of service tax?

Daily Quiz (02/03/13) What is the definition of taxable territory in the context of service tax?

The member providing the first correct reply shall receive free talk time worth Rs.20 award.

The member providing the second correct reply shall receive free talk time worth Rs.10 award.

To reply click

Company:	Rural Electrification Corporation Limited
Industry:	Government Sector
Job Function:	Finance & Accounting

Company Details: Rural Electrification Corporation Limited (REC) is a Schedule A Navaratna Public Sector Enterprise under the administrative control of Ministry of Power engaged in financing and promotion of generation, transmission & distribution projects. Over the years, the company has witnessed phenomenal growth having net worth of 14,744 Cr. in FY 2011-12. The Company also has a Training Institute in Hyderabad by the name Central Institute for Rural Electrification (CIRE) which caters to the training and development needs of Power Sector employees both from India & abroad.

Job Description:

E-6 (Rs 43,200-66,000), 1(ST), Graduate from recognized university and CA/ICWA. Relaxations for SC/ST/ OBC (NCL)/ PWD/ Ex servicemen/ JK domicile category will be as per Govt. of India guidelines. One post from S. No.2 to 14 and one post from 6, 8 to 14 above are reserved for OH and HH respectively.

Job Application Details:

Vacancy for CA /ICWA/ CA Inter/ ICWA Inter in HLL

ibility: B.Com
BCA
CA
ICWA
M.Com
Location: Noida
Job Category: 1 to 3 Yr Exp
Last Date: 4 March 13

Job Type: Full Time
Hiring Process: Written-test.

Dgm/gm- Finance & Accounts by Bhilai Engineering Corporation Ltd.(Project Devision)

Position: Deputy/General Manager - Finance

Qualifications: CA /ICWA/MBA FINANCE

Experience: 15 to 25

Location : Bhilai (Chhattisgarh)

Industry Preference: EPC

Salary: Not Disclosed by Recruiter

Appointment of Chartered Accountant Firms for Conducting Statutory Audit of all programmes o Rural Development Department across all its administrative units

Rural Development Department

Last Date : 15/03/2013
Appointment of Chartered Accountant Firms for Conducting Statutory Audit of all programmes o Rural Development Department across all its administrative units

Address:

Application are invited from partnership Cost Accountant firms registered in India for appointment as central Cost Auditor & branch Cost Auditor in Manadi Coalifieds Limited for Cost Audit for Companies (Cost Audit Report) rules, 2011 for the year 2013-14 in respect of Mahanadi Coalified limited

Mahanadi Coalfields Limited

Last Date : 15/03/2013
Application are invited from partnership Cost Accountant firms registered in India for appointment as central Cost Auditor & branch Cost Auditor in Manadi Coalifieds Limited for Cost Audit for Companies (Cost Audit Report) rules, 2011 for the year 2013-14 in respect of Mahanadi Coalified limited

Address:

Excise Duty on Baba Ram Dev

Chapter 30

30.1 Branded Ayurvedic medicaments and medicaments of Unani, Siddha, Homeopathy or Bio-chemic system are being brought under MRP based assessment with an abatement of 35% from the MRP.

Customs - Passenger Duty Free Allowance Raised From 40 K to 1 lac for Ladies & 50 K For Men

Baggage Rules : Presently, under Rule 6 of the Baggage Rules, 1998, an Indian passenger, who has been residing abroad for over one year, is permitted to bring jewellery without payment of duty up to an aggregate value of Rs 10,000/- in case of a gentleman passenger and Rs 20,000/- in case of a lady passenger. Under

Customs Duty Raised On Import of Motor Vehicles and Superbikes

87.3 At present, cars and other motor vehicles, new with FOB value more than US $ 40,000 and with engine capacity more than 3000 cc for petrol-run vehicles and more than 2500 cc for diesel-run vehicles attract a BCD of 75%. In this connection, notification No 12/2012- Customs (S No 437, (2) (a) of the Table) refers. The entry is being amended to read: “...with CIF value more than US $ 40,000 or with engine capacity more than 3000 cc for petrol-run vehicles and more than 2500 cc for diesel-run vehicles or with both”. Further, the BCD on these cars/motor vehicles is being increased from 75% to 100%. Thus, hereafter, these cars/ motor vehicles with CIF value more than US $ 40,000 would attract 100% BCD regardless of engine capacity. Similarly, regardless of value, cars/motor vehicles with engine capacity more than 3000 cc for petrol-run vehicles and more than 2500 cc for diesel-run vehicles would attract BCD at 100%.

87.4 The BCD on import of old cars is being increased from 100% to 125%.

87.5 The BCD on new motorcycles with engine capacity of 800cc or more is being increased from 60% to 75%.

TAX AUTHORITIES NOT TO GO BEYOND TRC; ISSUE WILL BE ADDRESSED SUITABLY IN FINANCE BILL, CBDT CLARIFIES

TAX AUTHORITIES NOT TO GO BEYOND TRC; ISSUE WILL BE ADDRESSED SUITABLY IN FINANCE BILL, CBDT CLARIFIES

Concern has been expressed regarding the clause in the Finance Bill that amends section 90 of the Income-tax Act that deals with Double Taxation Avoidance Agreements. Sub-section 14) of section 90 was introduced last year by Finance Act, 2012. That sub-section requires an assessee to produce a Tax

Judgments Overruled by Finance Bill 2013

> As said by the Finance Minister that, Amendment as a
> consequence to certain Courts decisions are incorporated in direct tax
> proposals â€" Budget 2013
>
> Â
>
> Finance Bill 2013 may
> overrule Following Court decision.
>
> Â
>
> 1. Proposed Amendment Â in "Application of seized assets under section 132B"

ICAI requires technically par excellent professionally successful, academically brilliant human resources for various senior and middle level positions including for Entry level positions in its headquarters at

Finance Ministry is considering to reduce the abatement on homes and flats with a carpet area of 2,000 sq.ft. or more or of a value of Rs 1 crore or more from 75 percent to 70 percent.

Abatement on Construction of Complex services – Made more Complex

THE Finance Ministry, considering that high-end constructions has greater component of `service' has reduced the abatement on homes and flats with a carpet area of 2,000 sq.ft. or more or of a value of Rs 1 crore or more from 75 percent to 70 percent.

The fine print of the Notification 2/2013-ST dated 1 March 2013, bifurcates `high-end construction' and `normal construction' as under:

If you hold money for or on account of a defaulter, the taxman can knock your doors too for recovery

If you hold money for or on account of a defaulter, the taxman can knock your doors too for recovery

SECTION 11 of the CEA, 1944 is being amended so as to provide for -

(i) Recovery of money due to the Government from any person other than from whom money is due after

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Wednesday, March 6, 2013

The ICAI has recently released various publications : . . 1. Accounting Standard for Local Bodies . 2. Construction Contracts . 3. Practitioner & HUF : A practitioners' Perspective

Those who are interested in doing management training in Mumbai, please send urgent resume to

Half day seminar Chennai West study circle on Companies Bill Dear All Chennai West Study circle next meeting will be held as per programme appended below. We request you to take part in the half day seminar. We are organising the same in Guindy location Kindly confirm your participation in

The claim u/s 54F of I T Act 1961 cannot be denied on the ground that the residential house was purchased in the name of wife. held by

Seminar on “Practical Aspects of Cost Accounting Records and Cost Audit” on Monday, March 18, 2013 at New Delhi.

EXEMPTION UNDER NEW SYLLABUS !

Prudence Leads to “Cookie Jar Accounting”

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Tuesday, March 5, 2013

E-filing must for annual income of over Rs 5 lakh’

Monday, March 4, 2013

Sunday, March 3, 2013

Iron ore scam: CBI arrests Gali’s aides

Friday, March 1, 2013

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The ICAI has recently released various publications :
.
.
1. Accounting Standard for Local Bodies
.
2. Construction Contracts
.
3. Practitioner & HUF : A practitioners' Perspective

Half day seminar Chennai West study circle on Companies Bill

Dear All

Chennai West Study circle next meeting will be held as per programme
appended below.

We request you to take part in the half day seminar. We are organising the
same in Guindy location

Kindly confirm your participation in