New section 133C of the Income-tax Act, 1961 – an analysis

Section 133C was  Inserted vide THE FINANCE (No. 2) ACT, 2014 w.e.f. 1st day of October, 2014. It reads as follows (Highlights added)

Power to call for information by prescribed income-tax authority.

     ‘133C. The prescribed income-tax authority, may for the purposes of verification of information in its possession relating to any person, issue a notice to such person requiring him, on or before a date

Postponement of Information System Audit (Assessment Test) scheduled for 26th December 2015

Postponement of Information System Audit

(Assessment Test) scheduled for 26th December 2015

to 23rd January 2016 - (13-11-2015)

12th November, 2015 IMPORTANT ANNOUNCEMENT Postponement of Information System Audit (Assessment Test) scheduled for 26th December 2015 to 23rd January 2016 It is hereby

New Refund Rules by Railways w.e.f 12.11.2015

A hidden map in your iPhone shows you all the places you have been

http://www.ibnlive.com/news/tech/a-hidden-map-in-your-iphone-shows-you-all-the-places-you-have-been-1165048.html

Ultra Slim Laptop Bag that fits Beneath your Jacket

The Under-The-Jack Pack is small and discreet enough to fit under a jacket or hoodie. It's great for situations where a large bag or backpack isn’t necessary: happy hour in crowded bars, commuting on crowded trains, or biking to and from work — to name just a few. This laptop sleeve comes with only 1.5 inch Ultra-slim profile which lets you carry your laptop covertly. It has both large and small zippered compartment for laptop or notebook, charger, smartphone, etc.

Read more »

Why do Indian firms pay higher fees to Big Four auditors?

Statutory auditors play a key role in corporate governance by ensuring that financial statements reflect the true and fair view of companies. The uncovering of major corporate frauds in India and elsewhere has led to a greater scrutiny of auditors’ role as a watchdog that could prevent such frauds. Research in the US and in other countries indicate that generally the Big Four global accounting

Substantial increase in Offence - Fine as New Motor Vehicle Act passed on 11 March 2015 in Rajya Sabha

New Motor Vehicle Act passed on 11 March 2015 in Rajya Sabha. Offence - Fine Four Wheeler Without Belt - Rs 1000 Without PUC - Rs 1500 Without Insurance - Rs 10000 Without paper - Rs 5000 and impound Without license - Rs 10000 and vehicle impound All original papers should be t...read more

The State of ICAI-Committees

"People with Political mind-set are the same all over. They promise to build a bridge even where there is no river"

Dear Friends,
 
Today I wish to draw your attention to non-standing committees of our Institute. Generally non-standing committees are formed with the objective of serving some very clearly specified purpose. Therefore, such committees should ideally be composed of a group of highly competent, experienced, academically and technically sound professionals having direct

CBDT to set-up a 'Taxpayers' Lounge' at the India International Trade Fair - 2015 to Highlight the Various Taxpayer-Friendly Initiatives Taken by the Department Among Others

CBDT to set-up a 'Taxpayers' Lounge' at the India International Trade Fair - 2015 to Highlight the Various Taxpayer-Friendly Initiatives Taken by the Department Among Others

The Income Tax Department will be setting-up a 'Taxpayers' Lounge' at the India International Trade Fair (IITF) - 2015 at Pragati Maidan, in national capital from 14th to 27th November, 2015.

The theme of the Taxpayers' Lounge this year would follow the theme of IITF 2015 i.e. 'Make in

Central Excise : After introduction of transaction value based duty from 1-7-2000, a manufacturer of LPG selling the product in bulk to an Oil Marketing Company (OMC) for further sale in packed form to dealers/domestic consumers and recovering ex-refinery price from the OMC as sale consideration is —

Central Excise : After introduction of transaction value based duty from 1-7-2000, a manufacturer of LPG selling the product in bulk to an Oil Marketing Company (OMC) for further sale in packed form to dealers/domestic consumers and recovering ex-refinery price from the OMC as sale consideration is —

• liable to duty based on transaction value viz. price recovered from the OMC ; and

Service Tax : Where assessee had challenged constitutionality of levy of service tax and department was aware of all facts since that time, then, later, department cannot allege suppression of facts to invoke extended period

[2015] 63 taxmann.com 3 (Mumbai - CESTAT)

CESTAT, MUMBAI BENCH

Interjewel (P.) Ltd.

CX - Finalisation of provisional assessments - Inter se adjustment of excess and short payment is allowed : CESTAT by majority

NEW DELHI,  : THE Appellants cleared their products viz. lead and zinc concentrates to their sister concerns and as the actual moisture content and arms-length price of the products were not available at the time of clearance, the same were assessed provisionally. The provisional assessments were later

CENVAT - Notfn 67/95 - Furnace is capital goods, hence credit on Inputs used in manufacture of furnace in factory is admissible as such capital goods are used within factory for manufacture of dutiable goods: CESTAT

MUMBAI,  : THE appellant purchased inputs and used them in the manufacture of furnace in the factory through contractor M/s. Bharat Gears Ltd. Revenue proposed denial of CENVAT Credit on the ground that in respect of the furnace manufactured, erected and installed in the factory of the

IT department developing App

Income Tax department developing mobile app for filing returns - http://economictimes.indiatimes.com/wealth/tax-savers/tax-news/income-tax-department-developing-mobile-app-for-filing-returns/articleshow/49783153.cms

QUOTES OF THE DAY

QUOTES OF THE DAY:

1.  Patience is not the ability to wait, but to keep a good attitude while waiting.

2.  Life never turns the way we want. But we live it the best way we can.

LG Gram 14 Review! (vs Apple Macbook Air)

Diwali wish from CA

I wish all persons covered under section (u/s) 2(31) of the Income Tax Act and their relatives u/s 2(41) a happy Diwali and a prosperous new year.

May god give you more and more salary u/s 15 and profits and gains of

Tips & Tricks: How to use the same WhatsApp account on two different phones at the same time

http://www.ibnlive.com/news/tech/tips-tricks-how-to-use-the-same-whatsapp-account-on-two-different-phones-at-the-same-time-1159947.html

CBEC Allows Education Cess Credit to be used for payment of Service Tax

CBEC Allows Education Cess Credit to be used for payment of Service Tax

Education Cess exempted on excise duty: Consequent to the increase in excise duty to 12.5% from 12% with effect from 1.3.2015, the Government by Notification Nos. 14/2015-CE and 15/2015-CE dated 1.3.2015 exempted ‘education cess' and ‘Secondary and Higher Education Cess' on all excisable goods. So, from 1.3.2015, no education cess was payable on excise duty.

The Law - Credit of Education Cess can be used only for payment of education cess: As per Rule (3)(7)(b) of the CENVAT Credit Rules, the CENVAT Credit of education cess can be used only for payment of education cess - that is this

Massive cyber espionage racket run by Pakistan against Indian defence forces exposed

http://www.ibnlive.com/news/india/massive-cyber-espionage-racket-run-by-pakistan-against-indian-defence-forces-exposed-1159657.html

UCO Bank requires 100 CAs

Exposure Draft on IFRS Practice Statement: Application of Materiality to Financial Statements

http://www.icai.org/new_post.html?post_id=12055&c_id=219

Vacancy for CA in PWC Direct Tax

Qualification : CA Expeerience: 2 to 3 years of post qualification relevant experience in handling expat tax matters. Roles & Responsibilities: Review of international assignments including assignments involving multiple countries responsibilities and review of related doc...read more

VAT from Nov 1 on sale of homes

VAT from Nov 1 on sale of homes October, 31st 2015

With the government notifying the long overdue decision to charge value added tax (VAT) from builders for the sale of an apartment, any hopes of housing becoming cheaper appear to have faded,

No search proceedings against client due to seizure of CA's hard disk containing ITR data of client

October 31, 2015[2015] 62 taxmann.com 391 (Delhi)

IT : Delhi HC lays down principles to avoid vexatious proceedings u/s 153C against person other than person searched

• Court rules on relevant date for application of sec 153A where AO of searched is also AO of the other person

If AO of the searched person and the other person is one and the same, date on which satisfaction is recorded by the AO that assets/documents belong to the

Audit of nine schools over hefty fee starts

GURGAON: A regulatory committee, headed by the divisional commissioner, has started the financial audit of nine private schools in the city that parents of several students have accused of charging exorbitant fees.

Five schools have already been covered under the audit. "We had received complaints from the parents' association on the unreasonable fees, following which we have initiated an audit. A chartered

Highlights of Sovereign Gold Bonds to be issued by Govt on 26th November 2015

GOVERNMENT of India, in consultation with Reserve Bank of India (RB), has decided to issue Sovereign Gold Bonds. The Bonds will be issued on November 26, 2015. Applications for the bond will be accepted from November 05, 2015 to November 20, 2015. The Bonds will be sold through banks and designated post offices as may be notified. The borrowing through issuance of the Bond will form part of market borrowing programme of Government of India

It may be recalled that the Finance Minister had announced in Union Budget 2015-16 about developing a financial asset, Sovereign Gold Bond, as an alternative to purchasing metal gold.

The major features of the Bond are given below:

Sl. No.	Item	Details
1	Product name	Sovereign Gold Bond
2	Issuance	To be issued by Reserve Bank India on behalf of the Government

Sebi attaches bank, demat accounts of four companies to recover Rs.6 crores

http://timesofindia.indiatimes.com/business/india-business/Sebi-attaches-bank-demat-accounts-of-four-companies-to-recover-Rs-6cr/articleshow/49615262.cms

Windows 7, 8 devices will be auto upgraded to Windows 10, confirms Microsoft

http://www.ibnlive.com/news/tech/windows-7-8-devices-will-be-auto-upgraded-to-windows-10-confirms-microsoft-1158554.html

19 Tricks to Stay Slim Without Thinking About it

The no-diet diet

Sneaky calorie bombs are hiding everywhere, but that doesn't mean you have to suffer scale creep. "You're still in control of your eating," says Keri Gans, RDN, who counsels clients in New York City. "Don't worry too much about occasional indulgences. It's the little things you do every day that can keep you on track." She's talking about super-

Joke of the day

Bill, a fresh computer graduate from a world-class University, goes for an interview in a software company.

The interviewer is Steve, a grubby old man. And the first question he asks Bill is, `Are you good at logic?'

`Of course,' replies Bill.

`Let me test you,' replies Steve. `Two men come down a chimney. One comes

Draft VAT Cir - 15T of 2015 on Issuing of tax invoice bills, cash payment etc.

KNOW_TRADEC_DW_MVAT_10_29_15_5_5_3PM.pdf

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Bank Holidays 2016 analysed

Bank Holidays 2016 analysed

Thanks to the decision of 2nd and 4th Saturdays off from 01/09/2015,, we've got a wonderful year 2016 ahead, as far as holidays are concerned.

Consisting of a mind boggling 96 holidays excluding the 3 which fall on Sunday.

Most surprisingly and luckily, no holiday falls any of the 24 Saturday offs.

Let's see the highlights of 2016.......

ICAI Elections Full list of candidates

http://resource.cdn.icai.org/39698journal-novt2015-22.pdf

Office space best suitable for chartered accountants available for rent in Banglore

We have office space ready to occupy and plug-in, best suitable for chartered accountants in J P Nagar I Phase, Bangalore.  Anybody interested can contact me on Mob;

Step by Step Guide for Return Mismatch Verification (e-Sahyog)

Download Step by Step Guide for Return Mismatch Verification (e-Sahyog) from
the following link:

Is the New Arbitration and Conciliation (Amendment) Ordinance, 2015 Prospective or restrospective?

Readers may be aware that the President of India has promulgated a new Ordinance amending the Arbitration and Conciliation Act, 1996. For those who are coming across this news for the first time, please read .Many of the reforms of the Law Commission of India have been incorporated while

Income Tax - Rules for e sahyog

October, 29th 2015

Under new rules, Income Tax Department has asked its customer care centres to monitor email complaints of taxpayers about their income tax returns and other problems and diligently send them to tax officers. Here we explain the top 5 ways taxpayers can befit from the income tax rules:

Under new rules, Income Tax Department has asked its customer care centres to monitor email complaints of taxpayers about their income tax returns and other problems and diligently send them

CII-CONFERENCE ON RELEARN COMPANIES ACT 2013 WITH RECENT CHANGES

Confederation of Indian Industry & Sridhanya Foundation –

CONFERENCE ON RELEARN COMPANIES ACT 2013 WITH RECENT CHANGES

14 November 2015: 0930 Hrs: Summit Hall, Taj Club House, No 2, Club House Road,

Off Anna Salai, Chennai-600 002      

I am pleased to announce that Confederation of Indian Industry along with Sridhanya Foundation as Knowledge Partner, is organizing a “Conference on Relearn Companies

This short story inspires to wash hands

Clarification on the use of CA Logo

http://www.icai.org/new_post.html?post_id=12033&c_id=219

Vacancy for CA-Inter/CMA-Inter in The Mysore Paper Mills Limited

The Mysore Paper Mills Limited Bhadravati- 577302 Applications are invited for the recruitment of Consultants on contract basis: Consultant Finance Number of Posts: 2 Qualification: CMA-inter/ CA-inter/ MBA- Finance/ M.Com Age: 24-26 years Remuneration: Rs.12,500/- Consultant- Materials Number o...read more

Secretarial Standard on the Notice of General Meeting under Companies Act 2013

http://ca-news-articles.2299310.n4.nabble.com/Notice-of-GM-ss-2-Series-89-td4640149.html#a4640159

The assessee cannot be punished for the default of the brokers and share transactions cannot be held to be bogus-Calcutta High Court

The decisions of the Hon’ble Calcutta High Court in the case of CIT-Vs- Carbo Industrial Holdings Ltd (244 ITR 422) and CIT –Vs- Emerald Commercial Ltd (250 ITR 549) are relevant to the issue where the Hon ’ble Court has held that where the payments are made by Account Payee Cheques and the existence of the brokers is not disputed the assessee

Telcos will have to pay Re 1 for every call drop, says Cellular Operators Authority DG after meeting with TRAI

http://www.ibnlive.com/news/india/telcos-will-have-to-pay-re-1-for-every-call-drop-says-cellular-operators-authority-dg-after-meeting-with-trai-1157841.html

CA. Manoj Fadnis, President, ICAI elected as CAPA Deputy President

---

CA. Manoj Fadnis, President, the Institute of Chartered Accountants of India (ICAI) has been elected as the Deputy President of Confederation of Asian and Pacific Accountants (CAPA) at the Board meeting of CAPA held on October 27, 2015 at Seoul for a period of two years. ICAI nominee CA. Manoj Fadnis gets this coveted position after a gap of ten years.

The Confederation of Asian and Pacific Accountants (CAPA) is the Regional Organisation

Due date of filing Form AOC-4, MGT-7 extended

MCA has released circular no. 14/2015 dated 28/10/2015 with respect to relaxation of additional fees and extension of last date of  filing of the following forms:
1. Annual Return – Form MGT-7: Original due date: 60 days from the date of AGM. Revised due

Fed holds steady; no clues about future rate hike

http://www.cnbc.com/2015/10/28/fed-leaves-rate-unchanged.html

Income tax laws set for makeover; check top 5 key takeaways

FM Arun Jaitley says the govt is all set to simplify the income tax laws in India to help the common man and ensure a better ease of doing business regimen. Jaitley said, “We have over the last few months been resolving a lot of past issues and now time has come to look at some provisions of the Income Tax Act to look at how their drafting quality can be improved.” Here are top 5 key takeaways

Black money: 35 accounts holding Rs 6,000 crore are all from Mumbai

http://www.dnaindia.com/money/report-black-money-probe-i-t-dept-attaches-rs-6000-crore-worth-accounts-all-from-mumbai-2139282

CBI raids REI Agro for alleged bank fraud

http://www.moneylife.in/article/cbi-raids-rei-agro-for-alleged-bank-fraud/43851.html

Exemption from submitting Security for Vat Registration

Exemption from Security for registration for below 50 L Turnover.pdf

Provisions of AGM as per SS 2

Click here read more

Gold monetization scheme Fraud

Gold monetization scheme Fraud:

·        The gold that is deposited in banks will some day be shipped to IMF, the way Manmohan Singh just shipped 180+tonnes of gold to IMF.  IMF (with the help of RBI Governor, which is always IMF person, to convince the Govt) hopes that someday when a corrupt Govt comes in

Service tax: New Exemptions

The central government has amended the mega exemption notification 25/2012-ST to extend exemption from service tax to the following services:

·         Services of account opening, cash deposits, cash withdrawals, obtaining e-life certificate, and Aadhar seeding, provided by a business facilitator or a business correspondent, or by an intermediary to such facilitator or correspondent, to a banking company with respect to a Basic

Two Major Reliefs for Service Tax Assessees Including Developers

 

We are pleased to share two recent and significant reliefs to service tax assessees across the country. These are as under:-

a)      The Limits of Prosecution and Arrests under Service Tax & Central have been revised

Chief CIT Used Strong-Arm Techniques To Extort Bribe From Hapless Taxpayers: CBI Report

Chief CIT Used Strong-Arm Techniques To Extort Bribe From Hapless Taxpayers: CBI Report

Pursuant to the recent arrest of Principal Commissioner Sailendra Mamidi and other top officials by the CBI for allegedly demanding and receiving bribes from taxpayers, the CBI has filed a report in Court in which it has presented an alleged nefarious nexus between fixers, businessmen and corrupt Income Tax Department officials.

The Union Cabinet on 21 October 2015 has approved the Arbitration and Conciliation (Amendment) Ordinance 2015 ('the Ordinance') which was promulgated on 23 October 2015 after having received Presidential assent

The Union Cabinet on 21 October 2015 has approved the Arbitration and Conciliation (Amendment) Ordinance 2015 ('the Ordinance') which was promulgated on 23 October 2015 after having received Presidential assent. The Ordinance introduces several significant changes to the Arbitration &

IndiGo's parent IPO opens: Is Rs 700-765/share reasonable?

IndiGo's parent IPO opens: Is Rs 700-765/share reasonable?

Read more at: http://www.moneycontrol.com/news/ipo-tip/indigos-parent-ipo-opens-is-rs-700-765share-reasonable_3787521.html?utm_source=ref_article

http://www.moneycontrol.com/news/ipo-tip/indigos-parent-ipo-opens-is-rs-700-765share-reasonable_3787521.html

Secret To Win In ‘CA Vs. ITO

Negotiation is the key to getting what you want, whether in the Income Tax Office or anywhere else.

Luckily there's a science to it, as established by countless psychological studies.

Here are some of the best scientific insights by Eric Barker combined with my real life true practical stories (based on my three decades of sitting on the other side of the table):-

Mere transfer of title in immovable property is exempted from Service Tax

Press Information Bureau
Government of India
Ministry of Finance
26-October-2015 15:45 IST

Mere transfer of title in immovable property is exempted from Service Tax

In order to resolve a long standing issue relating to levy of Service Tax on sale of flats/dwellings etc. after issue of occupancy certificate but before issue of completion certificate in areas under the jurisdiction of Municipal Corporation of Greater Mumbai i.e. Brihanmumbai Municipal Corporation

Check List Director Report as per Companies Act 2013

Click here to download

Income of CA from shares trading wasn’t business income as revenue failed to prove it as regular activity

October 24, 2015[2015] 62 taxmann.com 63 (Delhi - Trib.)/[2015] 39 ITR(T) 76 (Delhi - Trib.)

IT : Where trading in shares by assessee - CA was not his regular business activity and income therefrom was treated as capital gain by revenue in preceding assessment years, same could not be treated as business income in relevant years on same facts and circumstances

■■■

[2015] 62 taxmann.com 63 (Delhi - Trib.)

IN THE ITAT DELHI BENCH 'A'

Income-tax Officer

v.

Ashok Kumar*

G.D. AGRAWAL, VICE-PRESIDENT 
AND CHANDRAMOHAN GARG, JUDICIAL MEMBER

IT APPEAL NOS. 1046 AND 1314 (DELHI) OF 2012
[ASSESSMENT YEARS 2007-08 & 2008-09]

MARCH  2, 2015 

Section 45, read with section 28(i), of the Income-tax Act, 1961 - Capital gain - Chargeable as (Business income v. Capital gains - Share dealings) - Assessment years 2007-08 and 2008-09 - Assessee-Chartered Accountant held shares in nature of investment and not stock-in-trade in

Tech IPO companies issuing more accounting warnings

More companies are disclosing "material weaknesses" in their IPO filings this year, particularly in in the tech sector where more than half have made such warnings.

Audit and consulting giant PwC reports that the percentage of tech IPO filings that flagged potential future accounting problems jumped to 55 percent in the first three quarter of this year from 30 percent

Joke of the day

A successful Gujarati from Dubai walks into a bank in Mumbai & asks for a  Rs.50,000 loan. The bank asks for security & the guy hands over the keys & documents of his 7-Series
BMW which is parked on the street in front of the bank.
After all necessary checks the bank

Professional Opportunity

Complete details of the selected Tender

Organisation Name :		Northern Coalfields Limited (NCL), Singrauli
Organisation Type :		Public Sector Undertakings	Ministry :	Ministry of Coal and Mines
Tender Ref. No :		NCL/SGR/IAD/MISCAUDIT/15/331 DT 28.9.2015
Tender Title :		Expression of Interest (EOI) for Empanelment of Chartered Accountant/Cost Accountant Partnership Firms/Limited Liability Partnership (LLP) Firms
Product Category :		Consultancy

Returns in GST regime

Please find link to discussion video on the 4th report on 'Returns in GST' regime:

https://www.youtube.com/watch?v=8btLJNJlorM&feature=youtu.be

Gist of Gold Monetization Scheme (GMS) 2015

Summary of Gold Monetization Scheme (GMS) 2015 as announced by RBI Master Direction No.DBR.IBD.No.45/23.67.003/2015-16 Dated- October 22, 2015

♣ Resident Indians (Individuals, HUF, Trusts including Mutual Funds/Exchange Traded Funds registered under SEBI (Mutual Fund) Regulations and Companies) are eligible for this scheme.

♣ Joint deposits of two or more eligible depositors are also allowed under the scheme and the deposit

How to Triple Your Internet Speed for Free

Want to have live streaming of your favourite stocks, mutual funds or comodities here is a solution

click here for the experience

Vacancy for CA/ICWA in HDFC Bank

https://hcm651.tcsprocesscloud.in/sap/bc/webdynpro/sap/hrrcf_a_posting_apply?PARAM=cG9zdF9pbnN0X2d1aWQ9RUU4NDI3NTY2MjFENDE2REUxMDAwMDAwQUMxMTMwRjYmY2FuZF90eXBlPUVYVA%3d%3d&sap-client=627&sap-language=EN#

Collateralized Debt Obligation explained by an Irishman

Collateralized Debt Obligation explained by an Irishman:--

Lisa bought a donkey from a farmer for £100.
The farmer agreed to deliver the donkey the next day.
In the morning he drove up and said, 'Sorry son, but I have some bad news. The donkey's died.'
Lisa replied, 'Well just give me my money back then.'
The farmer said, 'Can't do that. I've already spent it.'
Lisa said, 'OK then, just bring me the dead donkey.'
The farmer asked, 'What are you going to do with him?'
Lisa said, 'I'm going to raffle (Lottery)him off.'
The farmer said, 'You can't raffle a dead donkey!'
Lisa said, 'Sure I can. Watch me. I just

Nora - The Smart Snoring Solution

NORA is sleek pebble-shaped device that sits on the bedside table and listens for snoring sounds. Once it detects the sound, Nora stops the snoring by slightly moving your head through a padded pillow insert that sits under your pillow. To get one, you’ll have to pledge $179 to the company’s Kickstarter, and expect to receive your product in May 2016.

Nora, a Kickstarter project, a better snoring solution system consists of a smooth "pebble-shaped" wireless mic that sits on your bedside table, a mini pump that's located beneath the bed, and a

Read more »

How Fast Life Of CAs Is Changing

Fortune's Geoff Colvin has a fascinating article “Why every aspect of your business is about to change” that lays out how modern companies have to change or perish. It is strongly recommended that every CA worth his salt must read it to know what to expect in the future.

But for those of us who are busy in the ritual of ICAI Elections here are six great ideas from the said

CBEC hikes monetary limits for prosecution of tax evaders

The Central Board of Excise and Customs (CBEC) has significantly scaled up the monetary limits for arrest and prosecution in crimes relating to smuggling and mis-declaration. It has also introduced strict safeguards to ensure that arrests and prosecution is initiation only in serious cases.

“The monetary limits for arrest and prosecution have been revised substantially upwards to ensure

SAT puts a timeline on LTCG investigations

http://www.business-standard.com/article/markets/sat-puts-a-timeline-on-ltcg-investigations-115102300775_1.html

Domino's launches new pizza delivery cars with built-in oven, navigation

http://www.ibnlive.com/news/tech/dominos-launches-new-pizza-delivery-cars-with-built-in-oven-navigation-1155370.html

Now run multiple whatsapp accounts on your dual sim android phone

WhatsApp is one of the most popular messenger app that also lets you share pictures, videos, music files and so on. By now, everyone of us have WhatsApp in our smartphones. I prefer WhatsApp among other messaging apps due to its simplicity and instant messaging service.

Although each and everything is quite handy in WhatsApp, but "What’s the most disturbing part that

Read more »

Bank of Baroda invites application for empanelment of CA for concurrent audit of branches for F.Y. 2016-17.

Bank of Baroda invites application for empanelment of CA for concurrent audit of branches for F.Y. 2016-17.
The draft application format to apply for Concurrent Audit of Branches/Offices for

What is Diwali Bonus?

What is Diwali Bonus?

Initially there was a concept of salary to be paid on a weekly basis to the workers in India, particularly the textile and flour mill workers in Bombay.  So you received 52 salaries in a year.
But when British started ruling India

ICAI withdraws five Guidance Notes on Accounting

The Council, at its Special (347th) meeting, held on October 14, 2015, has decided to withdraw the following five Guidance Notes on Accounting as the same are no longer relevant in the present day context in view of the requirements of the Companies Act, 2013:

Urgently required professional in states Maharashtra , Gujrat , Karnatka , Asam , UttarPardesh ( Lucknow ) and Kerla for getting the renewal done under Shop Act

urgently required professional in states Maharashtra , Gujrat , Karnatka , Asam , UttarPardesh ( Lucknow ) and Kerla for getting the  renewal done under Shop Act ! Interested Persons may Contact

CA was slapped by Officer of Service Tax Department, all India protest proposed

On 15th October, 2015 at 12:10 pm, CA Kailas Nipunge visited Akurdi office for reset of password of service tax with his client & accountant. On inquiry with superintendant Range 1, Jalil Shaikh said, "Aisa jhund me kyu aaya hai? Yeh public place hai kya?". While

Ministry of Finance, Department of Revenue has invited applications for the position of Accountant Member in the Appellate Tribunal under the Prevention of Money Laundering Act, 2002.-(20-10-2015)

http://www.icai.org/new_post.html?post_id=12022&c_id=240

Top 10 / Golden rules for technical trading

John Murphy's Ten Laws of Technical Trading

1. MAP THE TRENDS

Study long-term charts. Begin a chart analysis with monthly and weekly charts spanning several years. A larger scale map of the market provides more visibility and a better long-term perspective on a market. Once the long-term has been established, then consult daily and intra-day charts. A short-term market view alone can often be

Read more »

PREPARE YOURSELF FOR A REVOLUTION IN FINANCIAL MARKET WHICH NEVER HAPPENED IN THE HISTORY OF MANKIND

PREPARE YOURSELF FOR A REVOLUTION
IN FINANCIAL MARKET
WHICH NEVER HAPPENED IN THE HISTORY OF MANKIND

Recently, Mr. Nandan Nilkeni, a founder team member of Infosys and generator of the concept of Aadhar made one presentation of the impact this Aadhar linked cell phone will

Vacancy for CA in E&Y

Manager - IIC - Advisory - PI - Consumer Product - Mumbai - MUM0033F

IN-Maharashtra-Mumbai

Job Role

 • Client service delivery/execution
• Manage multiple projects, engagement economics and receivables, project resources and team

46 Good looking Minimal Watches you can buy for below $300

We have collected a beautiful collection of watches all priced under $300, the watches featured below are good choices for the modern gentleman who wants something that has a sleek and sophisticated design and is fairly durable, but doesn't cost thousands of dollars. If you are looking for something leather, stainless steel, canvas, or smart or something else, these picks all look great and maintain a conservative-enough tone for work.

Skagen Theodor Leather Watch - $90

Bergmann 6mm Extra Thin Black Leather White Dial Vintage Watch - $53

Read more »

Vacancy for CA/ICWA/CS in Hindustan Copper Limited

http://www.hindustancopper.com/PDF/HCL_Exe_Rec_2015.pdf

CBI raids I-T chief's Mumbai home

THIRUVANANTHAPURAM: The CBI on Friday raided the Mumbai residence of the chief commissioner of income tax in Kerala, Anil Goel, based on information that he is involved in the

Errors in income tax filing and how to fix them

http://www.moneycontrol.com/news/tax/errorsincome-tax-filinghow-to-fix-them_3589061.html?utm_source=IBNHP_CrossPromo

Secretarial Standard II- Minutes

http://ca-news-articles.2299310.n4.nabble.com/Secretarial-Standard-II-Minutes-Series-87-td4640154.html

More 50 Vacancies for CA

https://drive.google.com/file/d/0B1LjMQHFH8VNM0dzdmxiRlM2QjA/view

Trai says telcos will be penalised up to Rs 2 lakh for poor mobile services

http://tech.firstpost.com/news-analysis/trai-says-telcos-will-be-penalised-up-to-rs-2-lakh-for-poor-mobile-services-284913.html?utm_source=top_stories

CBDT Circular No. 17 Dated 6-10-2015 on Agricultural Land

CBDT Circular No. 17 Dated 6-10-2015

 
Finance Act, 2013 amendment for computing distance ‘aerially’ for the purposes of ‘agricultural land’ u/s 2(14)(iii)(b) is prospective in nature.
 
Bombay HC in Maltibai R. Kadu had held that for period prior to AY 2014-15, the distance should be

Service Tax Consultant Required by UPPCL

The CBDT, vide circular No. 17/2015 dated 6th October 2015 has clarified that amendment regarding measurement of distance aerially u/s 2(14)(iii) would be prospective and therefore not apply to cases prior to amendment.

Amendment regarding measurement of distance aerially u/s 2(14)(iii) is prospective

The CBDT, vide circular No. 17/2015 dated 6th October 2015 has clarified that amendment regarding measurement of distance aerially u/s 2(14)(iii) would be prospective and therefore not apply to cases prior to amendment. The department is also directed to withdraw appeals pending before the courts/tribunal. CBDT has issued the Circular in compliance of decision of Nagpur bench of Bombay

ICAI - ELECTION FINAL LIST

http://icai.org/new_post.html?post_id=11986

ICAI hosted admit cards in respect of candidates admitted to the IPCC and Final Exam in Nov 2015.

ICAI hosted admit cards in respect of candidates admitted to the IPCC and Final Exam in Nov 2015.

Link http://icai.nic.in/main-nov-15/admit.php

e-TDS_TCS_RPU_1.3 released w.e.f. 01-10-2015

After E-TDS RPU_4.4 NSDL clubed the E-TDS and E-TCS RPU and started new series of RPU having name like e-TDS_TCS_RPU_x.x and now on 1st Oct 2015 version 1.3 of the RPU released.
Key Features – Return Preparation Utility (RPU) version 1.3

• Preparation of Regular and Correction TDS/TCS Statement(s) for Form 24Q, 26Q, 27Q & 27EQ pertaining to Financial Year 2007-08 onwards (for all quarters).
• Section code 192A:
• In addition to Form no. 26Q, this section will also be applicable for Form no. 27Q where