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Wednesday, February 17, 2016

CBDT Directs AOs To Pass S. 154 Rectification Orders In Writing


The CBDT has issued Instruction No. 02/2016 dated 15.02.2016 in which it has directed Assessing Officers to pass rectification orders in writing and serve a copy on

Tuesday, February 16, 2016

Vacancy for CA in E&Y

Consultant - IIC - Tax - Indirect Tax - Mumbai - MUM00367
IN-Maharashtra-Mumbai

Job Role :
As an indirect tax services professional at Ernst & Young, you will help leading organizations to identify risk areas and sustainable planning opportunities for indirect taxes throughout the tax life

Ringing Bells to launch the cheapest smartphone; Freedom 251 to be priced below Rs 500

The Government (Department of Industrial Policy and Promotion) will soon introduce Business Identification Number (BIN) for Companies, doing away with multiple registration numbers a single entity needs to obtain for various regulatory purposes.

The BIN would act as an identification number for different regulatory purposes and do away with the need for procuring separate registration numbers such as Company Identification Number and Labour Identification Number. As per the proposal, the Permanent Account Number (PAN) may

C&AG audit application date extended

Last date for submission of online application form for empanelment with O/o

Supreme Court seeks list of companies who have defaulted over Rs. 500 crore

Court also asks RBI to provide within six weeks the list of companies whose loans have been restructured.

The Supreme Court today directed the RBI to provide a list of companies, which had defaulted bank loans of over Rs. 500 crore while expressing serious concern over the rise in bad loans.
The apex court also asked the Reserve Bank of India to provide within six weeks the list of

Rising NPAs: CAG set to scrutinise PSBs’ books


As public sector banks’ (PSBs) non-performiing and restructured assets have constrained their profitability and market capitalisation, the Comptroller and Auditor General (CAG) of India is set to scrutinise these banks’ books for the first time to analyse how the capital provided by the Centre in

Shocking! Banks can recover just Rs 6 crore out of Rs 7000 crore loan lent to Kingfisher

New Delhi: What a mockery the series of corporate loans defaults have made the country's banking system!
It is shocking to learn that members of the 17-bank consortium of lenders led by the State Bank of India, who lent Rs 6,900 crore to Vijaya Mallya's Kingfisher airline, may never succeed in recovering

Monday, February 15, 2016

Vacancy for CA in Tata communications

Position Description Summary – TATA Communications
SBU: Service Providers Group (GCS)
Location: Mumbai/Pune
Position Title : DGM for business planning and analytics
Number of Positions : 1
Reports to (Title): – AVP Business Operations

New ICAI chief wants panel for bank audit appointments Says current system might have contributed to bad loan crisis

The Institute of Chartered Accountants of India (ICAI) is recommending a revamp of the auditor appointment system for banks, both for central statutory and branch-level audits, its new President, M Devaraja Reddy, said.

Reddy, who assumed office on Friday after emerging victorious in the institute’s intensely fought

Humans may be able to regrow lost teeth like sharks

Damages personally payable by erring officers- can check ground level practices of harassment and corruption,… order as to cost and damages personally payable must be order of the day.

Link and references:

M/s Overseas Enterprises Versus The Union of India through the Chief Commissioner of Customs (Preventive) , and other officers 2016 (1) TMI 726 - PATNA HIGH COURT

Court directs to pay damages to be recovered from erring officers:

Adyar's chartered accountant is a cartoonist too



Chennai: It's not often that you find an accountant who has an intense passion for drawing. Leave alone cartooning. So, when Thiruvanmiyur-based chartered accountant S Ravishanker informs us that he loves making cartoons

Finance Minister hints at big banking reforms, but no full divestment from PSBs

Finance Minister Arun Jaitley on Sunday hinted at major banking reforms in the forthcoming Budget and assured foreign investors that retrospective taxation will be a thing of the past.
With the Budget scheduled for February 29, he did not elaborate on what the shape of the

Alleged economic offence by Shri Rajesh Arora, Partner of KPMG



F.No 8/04/2016 -CL.II
Government of India
Ministry of Corporate Affairs
5th Floor, ‘A’ Wing, Shastri Bhawan,
Dr. R.P. Road, New Delhi- 110001

Friday, February 12, 2016

Vacancy for CA Inter / ICWA Inter in Deloitte

Job Description

Senior Analyst: IEA
Function: U.S. India EnablingAreas
Service Area: USI Finance
Service Line: FSG
Location: Hyderabad
Work Hours: 11 AM to 8 PM

Responsibilities:
Primary Responsibilities include:
· Basic knowledge of taxation matters. Knowledge on US taxation will be an added advantage.

Vacancy for CA in PWC

Job Description
Job Profile :
PwC’s Transfer Pricing practice offer MNCs valuable long-term strategies with a global perspective on how to meet the increased transfer pricing challenges. Our range of services

Competent CA firms to carry out annual/concurrent audit of 08 no public funds maintained at this Air Force Station Gujarat

Air Force Station
Last Date : Feb 15, 2016
Competent CA firms to carry out annual/concurrent audit of 08 no public funds maintained at this

Tender is invited for the stock audit of Artificial Limbs Manufacturing Corporation of India

Artificial Limbs Manufacturing Corporation of India
Last Date : Feb 15, 2016
Tender is invited for the stock audit.

Address: Artificial Limbs Manufacturing Corporation of India, G T Road, Naramau, Kanpur –

Expression of interest for providing statutory audit services for the financial year 2014-15 w.e.f. subject to further renewal for one year.

Government Of West Bengal
Last Date : Feb 15, 2016
Expression of interest for providing statutory audit services for the financial year 2014-15 w.e.f. subject to further renewal for one year.

Address: Government Of West Bengal, Plot B/7, Action Area-III, Newtown, Kolkata-700160

Revised Guidance Note on Reporting on Fraud under Section 143(12) of the Companies Act, 2013 released by Auditing and Assurance Standards Board

ICAI releases Guidance Note on Accounting for Depreciation in companies in the context of Schedule II to the Companies Act, 2013

2016 Guidance Note on Audit of Banks released by Auditing and Assurance Standards Board

Cut of date for LTCG

Article
Budget suggestion:

Option for Fair Market Value (FMV) be granted for capital assets held for 10 years or more.

Present position:

At present option to assessee is allowed to take fair market value (FMV) if the capital asset sold was held by the assessee/ previous owner  (including period of holding by  previous owner from whom it

ICAI elects Devaraja Reddy as President

The CA Institute has a new President in M Devaraja Reddy.
Reddy, a resident of Hyderabad is a fellow member of the Institute of Chartered Accountants of India (ICAI) with more than 28 years of professional standing. He was the Vice President of ICAI for the

No Penalty for non disclosure of manner of Income, if same was not asked during statement recorded U/s/ 132(4)

Case Citation- DCIT Vs Shri Rajiv Chopra (ITAT Chandigarh), ITA No. 990/CHD/2014, Date of Pronouncement : 27.11.2015 , Assessment Year: 2010-11
Briefly the facts of the case are that in this case, search & seizure operation was conducted on 11.09.2009 in business and residential premises of Sahni Group of cases. The assessment was completed under section 153B(1)(b) read with Section 143(3) of Income Tax Act at a total income of Rs. 49.46 Cr on 29.12.2011 against

Where brand name used on the manufactured products is owned by the manufacturer himself, the benefit of small scale exemption cannot be denied.

CCE vs. Otto Bilz (India) Pvt. Ltd [2015] 63 taxmann.com 317(SC)
Where brand name used on the manufactured products is owned by the manufacturer himself, the benefit of small scale exemption cannot be denied.

FACTS:
The assessee manufactured the products in India under foreign brand name and therefore,

RBI asks banks to submit proforma Ind AS financial statements from Sept

In a clear pointer to RBI wanting banks to go the IFRS way, the central bank has issued new directives on the implementation of International Financial Reporting Standards (IFRS) converged Indian Accounting Standards (Ind AS) by banks.
Banks have been asked to submit proforma Ind AS financial statements to the RBI from the half-year

After Delhi, Vodafone now launches 4G services in Mumbai



New Delhi : Even as Reserve Bank of India (RBI) Governor Raghuram Rajan says the claims made by analysts on the size of bad loans in the country's banking system border on scare-mongering, official data does not paint a rosy picture -- and even shatters some popular perceptions.
 
As per statistics available with the central bank, the net NPAs, or non-performing assets, of all banks, excluding accrued interest, was 2.8 percent of total loans as on September 15 last year. For state-run

Thursday, February 11, 2016

Request For Proposal (rfp) – Outsourcing Of Internal Audit Of New York Branch of Canara Bank

Canara Bank
Last Date : Feb 15, 2016
Request For Proposal (rfp) – Outsourcing Of Internal Audit Of New York Branch.

Address: Canara Bank, Head Office, Inspection Wing, 86 B Spencer Towers, M G Road, Bangalore

Comptroller And Auditor General Of India Empanelment of chartered accountant firms / LLPs for the year 2016-2017.

Comptroller And Auditor General Of India
Last Date : Feb 15, 2016
Epanelmnet of chartered accountant firms / LLPs for the year 2016-2017.

Address: Comptroller And Auditor General Of India, 9, Deen Dayal Upadhyaya Marg, New Delhi-

Vacancy for CA in RBL Bank

KEY RESPONSIBILITIES
  1. Achievement of incremental number and value targets for Liabilities (CA, SA, FD); Assets (Home, Auto & other assets) and Fee Products (MF, LI, GI, Gold & other fee products)

Brokerage expenses not allowed against income from house property

Citation of the Case:  M/s. Radiant Premises Pvt. Ltd. vs. ACIT (ITAT Mumbai), ITA No.5494/Mum/2013, AY 2010-2011, and Date of Judgment: 05/06/2015
Brief of the Case
ITAT Mumbai held In the case of M/s. Radiant Premises Pvt. Ltd. vs. ACIT that the phrase rent received and receivable u/s 23, contemplates the amount received for the enjoyment of the property and certain rights in the said property by the tenant. If there is charge directly related to the rental income or for the property without which

Accounting Firms Saw Solid Sales Growth in 2015

The average private company that provides either accounting, tax preparation, bookkeeping, or payroll services increased sales by a 12 percent annual rate last year, a higher growth rate than private companies overall, according to a new report by financial information provider Sageworks.
In 2014, the average sales rate for private companies in the financial sector was 9.5 percent; the rate

Prabhu launches 3 IT enabled applications for railways

New Delhi : IT-enabled handheld terminals for travelling ticket examiners (TTEs), a paperless unreserved ticketing mobile application and a facility for E-booking of disposable linen on trains were launched by Railways Minister Suresh Prabhu on Wednesday.

Complete Guide To Filing Appeals Before CIT(A) And Drafting Applications For Stay Of Demand

Advocate Rahul R. Sarda has meticulously explained the entire procedure for filing appeals before the CIT(A) and drafting applications for stay of demand. The author has also prepared a check-list of issues that require to be borne in mind to ensure that nothing important is omitted. He has also made extensive reference to all the important judgements which have a

Vacancy for CA in ICICI Bank

Location: Mumbai
Qualification: CA Fresher
Experience : 0-4 Yrs
Job Description:  ICICI Bank is looking for professinals at various positions


How to apply

MCA invites Comments/ Suggestions on the DRAFT COMPANIES (AUDITOR’S REPORT) ORDER, 2016

MCA invites Comments/ Suggestions on the DRAFT COMPANIES (AUDITOR’S REPORT) ORDER, 2016, Last date for submission of comments and suggestion is 23.02.2016
 
MCA invites Comments/ Suggestions on THE REVISED SCHEDULE III

Draft CARO 2016

MCA issues DRAFT format for financial statements in line with Ind AS

Campus Orientation for newly qualified Chartered Accountant

Nagpur: New members should keep themselves updated with knowledge & gain working knowledge as quickly as possible & learn from experience of senior colleague in the organization Nitin Khara, Chairman Confidence Group of Commerce speaking as Chief guest at Campus Orientation

FOREIGN EXCHANGE MANAGEMENT (EXPORT OF GOODS & SERVICES) REGULATIONS, 2015 – AN OVERVIEW

The Reserve Bank of India made ‘Foreign Exchange (Export of Goods & Services) Regulations, 2015 (‘Regulations’ for short) by virtue of the powers conferred by Section 7(3)(1)(a) and Section 47 (2) of the Foreign Exchange Management Act, 1999 (‘Act’ for short) and in supersession of its Notification No. FEMA.23/2000-RB, dated 03.05.2000 as amended from time to time, which came into effect from 12.01.2016.  The

Tuesday, February 9, 2016

New Real Estate (Regulation and Development) Bill, 2013

New Real Estate Bill :

Prime Minister Narendra Modi's government on Tuesday approved changes to a Bill that seeks to regulate the country's property market, notorious for black money and delayed possessions. The Real Estate (Regulation and Development) Bill, 2013 is aimed to protect the interest of consumers from

Rebate/refund of SB Cess on exports & services used in SEZ; Cenvat credit cannot be used for SB Cess & others


The Central Government (“CG”) has issued various Notifications under the Service tax and the Central Excise for extending the benefit of refund/rebate to the Swachh Bharat Cess (“SB Cess”) component and the input services used beyond factory for export. Further, the Cenvat Credit Rules,

High Court Shocked At Loot Of Taxpayers Funds By Corrupt Babus. Calls For Non-Cooperation Movement By Taxpayers To Eradicate "Hydra Headed Monster" Of Corruption

High Court Shocked At Loot Of Taxpayers Funds By Corrupt Babus. Calls For Non-Cooperation Movement By Taxpayers To Eradicate "Hydra Headed Monster" Of Corruption
Hon’ble Justice A. B. Chaudhari of the Nagpur Bench of the Bombay High Court has passed severe strictures against the Government for turning a blind eye to the rampant corruption in the Country. The learned Judge lamented that “It shocks one and all as to the manner in which the taxpayers’

ICAI issues Standard on Auditing (SA) 610 (Revised) Using the Work of Internal Auditors

CX - Notf. 64/95-CE - D.G sets & parts supplied to Mazagon Dock for construction of warship of Indian Navy - it is nowhere mentioned in condition to notification that goods have to be supplied to Indian Navy - Exemption available: CESTAT

CX - Notf. 64/95-CE - D.G sets & parts supplied to Mazagon Dock for construction of warship of Indian Navy - it is nowhere mentioned in condition to notification that goods have to be supplied to

Monday, February 8, 2016

Vacancy for CA in Bank of America

Click here to apply
Job Description:
Overview:
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.
BA Continuum is a nonbank subsidiary of Bank of America, part of our Global Delivery Center of Expertise in the bank. Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for the individuals, businesses and institutional investors we serve worldwide.
We’re committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.
BA Continuum India Pvt. Ltd. supports business process, information technology and knowledge process across Consumer Banking, including Card and Home Loans, Legacy Asset Servicing, Global Banking and Markets, and Global Wealth and Investment Management lines of business at Bank of America.
The Risk, Capital, Investments, and Treasury Technology team provides technology solutions to support the Chief Risk Officer, Corporate Investments, Secondary Marketing, Global Principal Investments, Corporate Treasury, and Enterprise Capital Management Organizations. The Risk technology teams calculates various risk metrics including Credit, Market and Liquidity Risk for the various LOBs within the bank, supports the Risk business to generate actionable insights and ensure that we stay within our Risk Limits. It also enables reporting of the data to various regulators and supports key regulatory mandates including Enterprise Stress Test and CCAR runs. The technology teams also support functions that manages the Bank’s capital and invests capital on behalf of the enterprise, manage earnings, liquidity and funding. It also supports the business that oversee mortgage servicing rights, pricing, hedging, trading and delivery of mortgage products.
Job Description:
The candidate’s primary role will be that of a Business Analyst. The desired candidate will be responsible for the following: interacting with business, capturing requirements, assessing scope, documenting identified changes, acting as a liaison between the business and development team
Responsibilities:
  • This goal of this project is to develop Web based frameworks and applications using the Agile methodology supporting the ECMT business requirements.
  • Good communicator with strong oral and written skills.
  • Experience working with global teams and communicate effectively across different stakeholders.
  • Demonstrate a professional attitude among peers, staff and external customers at all times.
  • Must be able to adapt to a dynamic and ever-changing environment with a positive attitude.
  • Must demonstrate a willingness to learn and be open to direct and honest feedback for self improvement.
Requirements:
  • Ability to read and write complex SQL / python to perform data and business process analysis
  • Strategic thinking combined with attention to detail, logical approach to problems.
  • Good Knowledge in Basel Regulatory rules and other.
  • 5+ years of experience in financial services, preferably with exposure to risk management, trading, or other key functions in the banking transaction lifecycle.
  • Preferred academic background would be an MBA in finance, with B.E. / B.Sc.(Computer Science / IT) a must.
  • Willingness to work late hours to overlap with EST/PST noon timings
Good to Have
  • Ability to empathize with clients and leverage technology to deliver high quality timely solutions with a high degree of predictability.
  • Excellent verbal and written communication.
  • Proven ability to operate within the global environment operating from multiple locations and time zones
  • Team player, exposure to Agile development is an advantage.
  • Self-motivated and self managed.
  • Relationship management and networking skills
             
Preferred Qualifications:
  • B.E/MBA, B Com/MBA, CA
  • Candidates with CFA and FRM certifications would be preferred.
Interpersonal Skill:
  • Strong verbal and written communication skills
Experience: 4 – 6 years of industry experience
Shift Timings: 11 am – 8 pm
Posting Date: 08/02/2016
Location: Mumbai - India
Full / Part-time: Full time
- See more at: http://careers.bankofamerica.com/job-detail/16006672/global/global/sr-analyst-apps-prog#sthash.z9W6y6Ji.dpuf
Job Description:
Overview:
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.
BA Continuum is a nonbank subsidiary of Bank of America, part of our Global Delivery Center of Expertise in the bank. Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for the individuals, businesses and institutional investors we serve worldwide.
We’re committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.
BA Continuum India Pvt. Ltd. supports business process, information technology and knowledge process across Consumer Banking, including Card and Home Loans, Legacy Asset Servicing, Global Banking and Markets, and Global Wealth and Investment Management lines of business at Bank of America.
The Risk, Capital, Investments, and Treasury Technology team provides technology solutions to support the Chief Risk Officer, Corporate Investments, Secondary Marketing, Global Principal Investments, Corporate Treasury, and Enterprise Capital Management Organizations. The Risk technology teams calculates various risk metrics including Credit, Market and Liquidity Risk for the various LOBs within the bank, supports the Risk business to generate actionable insights and ensure that we stay within our Risk Limits. It also enables reporting of the data to various regulators and supports key regulatory mandates including Enterprise Stress Test and CCAR runs. The technology teams also support functions that manages the Bank’s capital and invests capital on behalf of the enterprise, manage earnings, liquidity and funding. It also supports the business that oversee mortgage servicing rights, pricing, hedging, trading and delivery of mortgage products.
Job Description:
The candidate’s primary role will be that of a Business Analyst. The desired candidate will be responsible for the following: interacting with business, capturing requirements, assessing scope, documenting identified changes, acting as a liaison between the business and development team
Responsibilities:
  • This goal of this project is to develop Web based frameworks and applications using the Agile methodology supporting the ECMT business requirements.
  • Good communicator with strong oral and written skills.
  • Experience working with global teams and communicate effectively across different stakeholders.
  • Demonstrate a professional attitude among peers, staff and external customers at all times.
  • Must be able to adapt to a dynamic and ever-changing environment with a positive attitude.
  • Must demonstrate a willingness to learn and be open to direct and honest feedback for self improvement.
Requirements:
  • Ability to read and write complex SQL / python to perform data and business process analysis
  • Strategic thinking combined with attention to detail, logical approach to problems.
  • Good Knowledge in Basel Regulatory rules and other.
  • 5+ years of experience in financial services, preferably with exposure to risk management, trading, or other key functions in the banking transaction lifecycle.
  • Preferred academic background would be an MBA in finance, with B.E. / B.Sc.(Computer Science / IT) a must.
  • Willingness to work late hours to overlap with EST/PST noon timings
Good to Have
  • Ability to empathize with clients and leverage technology to deliver high quality timely solutions with a high degree of predictability.
  • Excellent verbal and written communication.
  • Proven ability to operate within the global environment operating from multiple locations and time zones
  • Team player, exposure to Agile development is an advantage.
  • Self-motivated and self managed.
  • Relationship management and networking skills
             
Preferred Qualifications:
  • B.E/MBA, B Com/MBA, CA
  • Candidates with CFA and FRM certifications would be preferred.
Interpersonal Skill:
  • Strong verbal and written communication skills
Experience: 4 – 6 years of industry experience
Shift Timings: 11 am – 8 pm
Posting Date: 08/02/2016
Location: Mumbai - India
Full / Part-time: Full time
- See more at: http://careers.bankofamerica.com/job-detail/16006672/global/global/sr-analyst-apps-prog#sthash.z9W6y6Ji.dpuf
Job Description:
Overview:
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.
BA Continuum is a nonbank subsidiary of Bank of America, part of our Global Delivery Center of Expertise in the bank. Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for the individuals, businesses and institutional investors we serve worldwide.
We’re committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.
BA Continuum India Pvt. Ltd. supports business process, information technology and knowledge process across Consumer Banking, including Card and Home Loans, Legacy Asset Servicing, Global Banking and Markets, and Global Wealth and Investment Management lines of business at Bank of America.
The Risk, Capital, Investments, and Treasury Technology team provides technology solutions to support the Chief Risk Officer, Corporate Investments, Secondary Marketing, Global Principal Investments, Corporate Treasury, and Enterprise Capital Management Organizations. The Risk technology teams calculates various risk metrics including Credit, Market and Liquidity Risk for the various LOBs within the bank, supports the Risk business to generate actionable insights and ensure that we stay within our Risk Limits. It also enables reporting of the data to various regulators and supports key regulatory mandates including Enterprise Stress Test and CCAR runs. The technology teams also support functions that manages the Bank’s capital and invests capital on behalf of the enterprise, manage earnings, liquidity and funding. It also supports the business that oversee mortgage servicing rights, pricing, hedging, trading and delivery of mortgage products.
Job Description:
The candidate’s primary role will be that of a Business Analyst. The desired candidate will be responsible for the following: interacting with business, capturing requirements, assessing scope, documenting identified changes, acting as a liaison between the business and development team
Responsibilities:
  • This goal of this project is to develop Web based frameworks and applications using the Agile methodology supporting the ECMT business requirements.
  • Good communicator with strong oral and written skills.
  • Experience working with global teams and communicate effectively across different stakeholders.
  • Demonstrate a professional attitude among peers, staff and external customers at all times.
  • Must be able to adapt to a dynamic and ever-changing environment with a positive attitude.
  • Must demonstrate a willingness to learn and be open to direct and honest feedback for self improvement.
Requirements:
  • Ability to read and write complex SQL / python to perform data and business process analysis
  • Strategic thinking combined with attention to detail, logical approach to problems.
  • Good Knowledge in Basel Regulatory rules and other.
  • 5+ years of experience in financial services, preferably with exposure to risk management, trading, or other key functions in the banking transaction lifecycle.
  • Preferred academic background would be an MBA in finance, with B.E. / B.Sc.(Computer Science / IT) a must.
  • Willingness to work late hours to overlap with EST/PST noon timings
Good to Have
  • Ability to empathize with clients and leverage technology to deliver high quality timely solutions with a high degree of predictability.
  • Excellent verbal and written communication.
  • Proven ability to operate within the global environment operating from multiple locations and time zones
  • Team player, exposure to Agile development is an advantage.
  • Self-motivated and self managed.
  • Relationship management and networking skills
             
Preferred Qualifications:
  • B.E/MBA, B Com/MBA, CA
  • Candidates with CFA and FRM certifications would be preferred.
Interpersonal Skill:
  • Strong verbal and written communication skills
Experience: 4 – 6 years of industry experience
Shift Timings: 11 am – 8 pm
Posting Date: 08/02/2016
Location: Mumbai - India
Full / Part-time: Full time
- See more at: http://careers.bankofamerica.com/job-detail/16006672/global/global/sr-analyst-apps-prog#sthash.z9W6y6Ji.dpuf
Job Description:
Overview:
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.
BA Continuum is a nonbank subsidiary of Bank of America, part of our Global Delivery Center of Expertise in the bank. Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for the individuals, businesses and institutional investors we serve worldwide.
We’re committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.
BA Continuum India Pvt. Ltd. supports business process, information technology and knowledge process across Consumer Banking, including Card and Home Loans, Legacy Asset Servicing, Global Banking and Markets, and Global Wealth and Investment Management lines of business at Bank of America.
The Risk, Capital, Investments, and Treasury Technology team provides technology solutions to support the Chief Risk Officer, Corporate Investments, Secondary Marketing, Global Principal Investments, Corporate Treasury, and Enterprise Capital Management Organizations. The Risk technology teams calculates various risk metrics including Credit, Market and Liquidity Risk for the various LOBs within the bank, supports the Risk business to generate actionable insights and ensure that we stay within our Risk Limits. It also enables reporting of the data to various regulators and supports key regulatory mandates including Enterprise Stress Test and CCAR runs. The technology teams also support functions that manages the Bank’s capital and invests capital on behalf of the enterprise, manage earnings, liquidity and funding. It also supports the business that oversee mortgage servicing rights, pricing, hedging, trading and delivery of mortgage products.
Job Description:
The candidate’s primary role will be that of a Business Analyst. The desired candidate will be responsible for the following: interacting with business, capturing requirements, assessing scope, documenting identified changes, acting as a liaison between the business and development team
Responsibilities:
  • This goal of this project is to develop Web based frameworks and applications using the Agile methodology supporting the ECMT business requirements.
  • Good communicator with strong oral and written skills.
  • Experience working with global teams and communicate effectively across different stakeholders.
  • Demonstrate a professional attitude among peers, staff and external customers at all times.
  • Must be able to adapt to a dynamic and ever-changing environment with a positive attitude.
  • Must demonstrate a willingness to learn and be open to direct and honest feedback for self improvement.
Requirements:
  • Ability to read and write complex SQL / python to perform data and business process analysis
  • Strategic thinking combined with attention to detail, logical approach to problems.
  • Good Knowledge in Basel Regulatory rules and other.
  • 5+ years of experience in financial services, preferably with exposure to risk management, trading, or other key functions in the banking transaction lifecycle.
  • Preferred academic background would be an MBA in finance, with B.E. / B.Sc.(Computer Science / IT) a must.
  • Willingness to work late hours to overlap with EST/PST noon timings
Good to Have
  • Ability to empathize with clients and leverage technology to deliver high quality timely solutions with a high degree of predictability.
  • Excellent verbal and written communication.
  • Proven ability to operate within the global environment operating from multiple locations and time zones
  • Team player, exposure to Agile development is an advantage.
  • Self-motivated and self managed.
  • Relationship management and networking skills
            
Preferred Qualifications:
  • B.E/MBA, B Com/MBA, CA
  • Candidates with CFA and FRM certifications would be preferred.
Interpersonal Skill:
  • Strong verbal and written communication skills
Experience: 4 – 6 years of industry experience
Shift Timings: 11 am – 8 pm
Posting Date: 08/02/2016
Location: Mumbai - India
Full / Part-time: Full time
- See more at: http://careers.bankofamerica.com/job-detail/16006672/global/global/sr-analyst-apps-prog#sthash.z9W6y6Ji.dpuf

Vacancy for CA Inter Aditya Birla Group

Requisition Title

:SH - Finance & Accounts Singach 

Job Number:

:1401012G 

Schedule

:Full-time 

Primary Location

:India-Karnataka-KARWAR 

Forensic audit must for all bad loans, Parliament Panel to RBI


Cautioning that the rising trend of non performing assets (NPAs) with banks has “the potential to damage the growth story”, the Finance Standing Committee of Parliament has called for immediate forensic audit of all restructured loans that had turned into bad debts.
Forensic audit is also required for wilful defaults and Reserve Bank of India (India) has been asked to

Be warned: Error 53 will kill your iPhone and there’s not a thing you can do about it

SEBI to scan Facebook accounts of suspects in insider trading case

Students need not worry about marks weightage of IND AS in coming CA examinations to be held in May 2016 says CA DS Rawat in a seminar

As per information obtained from today's seminar  on Examination strategies. and Ind AS.(conducted at vishwas nagar )

Respected CA Vijay kapoor ji..(Ex director BOS ) Respected CA Ashish ji..from GT..
Respected CA D.S. Rawat ji...and so many honorable authorities were present there.

1)--Students need not to worry about Ind AS .

IMPORTANT Mandatory Quoting of PAN w.e.f 01st January, 2016

IMPORTANT Mandatory Quoting of PAN w.e.f 01st January, 2016

Amendment in rules for Quoting of PAN in various transactions (Rules 114B)

 
Every person shall quote his permanent account number (PAN) in all documents pertaining to the

GST ISSUES ON COACHING INSTITUTIONS

While 'education' continues to be of utmost importance for the country's economic growth, it also has been a priority for the government in extending tax benefits and other concessions to boost education (both primary and professional / technical) in the country.

The much thoughtful leaders of India have spared the education sector all alone from levy of taxes

Ready Reckoner -Secretarial Standard 1 (Board Meeting)

Ready Reckoner -Secretarial Standard 1 (Board Meeting)


The Ministry of Corporate Affairs conferred its approval to Secretarial Standard-1 (relating to Board Meeting) and Secretarial Standard-2 (relating to General Meeting)issued by the Institute of Company

GLIMPSES OF REPORT OF ‘THE COMPANIES LAW COMMITTEE’ – PART II

GLIMPSES OF REPORT OF ‘THE COMPANIES LAW COMMITTEE’ – PART II


  1. Section 89 – Declaration in respect of beneficial interest in any share – The Committee recommended to amend the act to mandate the following:

Sunday, February 7, 2016

Govt to push NFRA despite stiff resistance from ICAI

4 Day Workshop on Ind AS with special modules on ICDS and The Companies Act, 2013 by KPMG

KPMG in India's IFRS Institute under the auspices of KPMG Academy introduces a second series of four day workshops on Ind AS to provide insights on the various accounting standards (with coverage of the relevant ICDS and Companies Act, 2013) requirements.
Date
February 5, 6, 12, 13 2016 - Bengaluru
February 19, 20, 26, 27 2016 - Delhi
February 19, 20, 26, 27 2016 - Kolkata
February 27, 28 and March 4, 5 - Chennai
Time
9:30 am to 6 pm
Venue
KPMG in India office in respective location
Key takeways
· Detailed understanding of the road map to Ind AS with practical case studies and implementation challenges

Tackling the NPA menace: Raghuram Rajan hints at significant loan write-offs by banks

Reserve Bank Governor Raghuram Rajan has indicated that “existing loans will have to be written down significantly” by banks in order to tackle the rising menace of non-performing assets.
Rajan, who made some plain speaking about the banking sector, also said “some banks will have to merge to optimise their use of resources” and advised the government to allow the boards more

Swachh Bharat Cess

The Chapter VI of Finance Bill, 2015 deals Swachh Bharat Cess (SBC). According to clause 119 of Finance Act, 2015:

“’There shall be levied and collected in accordance with the provisions of this Chapter, a cess to be called the Swachh Bharat Cess, as service tax on all or any of the taxable services at the rate of two

No PE even if place of business falls under inclusive definition of PE if permanency test isn't satisfied and more

INCOME TAX ACT
SECTION 10(38)
CAPITAL GAINS - INCOME ARISING FROM TRANSFER OF LONG-TERM SECURITIES
Illustrations : Where shares were acquired personally by settlor of trust and he treated same as an investment and not as stock-in-trade till same were contributed towards corpus of trust, if those shares were sold within a week of settlement to secure investment because of down trend

TDS liability under sec. 194C would attract even on oral contract and more

INCOME TAX ACT
SECTION 10B
EXPORT ORIENTED UNDERTAKING
Computation of deduction : Interest on FDRs which were under lien with Bank for facilitating letter of credit and bank guarantee facilities would qualify for deduction under section 10B - [2016] 65 taxmann.com 287 (Delhi)

SECTION 14A
EXPENDITURE INCURRED IN RELATION TO INCOME NOT INCLUDIBLE IN TOTAL INCOME
Rule 8D : Disallowance made under section 14A, read with rule 8D, towards interest

Rajasthan VAT Rate of 5% increased to 5.5%

Rajasthan VAT Rate of 5% increased to 5.5% w.e.f.02.02.2016, for full notification please click on:

Video lecture on Internal Financial Controls (IFC) Deficiencies & Preventive controls in Smaller entities


Industrialisation is the best diversification strategy for Oman: ICAI Panel


The panel discussion was moderated by Mubeen Khan, vice chairman of the Muscat Chapter of ICAI. - Supplied picture
 
Muscat: Oman’s industrialisation and development of human capital can prove to be the best diversification strategy for Oman. This was the outcome of a panel discussion hosted by the Muscat chapter of the Institute of Chartered Accountants of India (ICAI) under the sponsorship of the College of Banking and Financial Studies (CBFS), which organised a panel discussion entitled,

Saturday, February 6, 2016

Be Careful of these Potential Online Scams

With services like WhatsApp and other such messaging platforms, communication has become easier and highly convenient. But, as these services gain popularity, they start attracting a whole lot of scammers and criminal minds. This post tells you about two types of potential online scams that you must watch out for.
Becareful of these Potential Online Scams

A couple of days back, I came across a WhatsApp message which goes like this:

Friday, February 5, 2016

ICAI issues guidelines on Manner of Signing of Certificates by Chartered Accountants

Institute of Chartered Accountants of India
Announcement
Manner of Signing of Certificates by Chartered Accountants
 The Council of the Institute of Chartered Accountants of India (ICAI), at its 349th meeting held on 17th and 18th January, 2016 considered an issue relating to manner of signing of certificates by Chartered Accountants. The

Reputed firms of chartered accountants for internal audit work of its various units prescribed format for the year 2015-16.

Last Date : Feb 08, 2016
Reputed firms of chartered accountants for internal audit work of its various units prescribed format

Invited from CA/CMA firms for performing internal audit of CSPGCL, CSPTCL, CSPDCL, and CSPHCL for the financial year 2015-16 and 2016-17.

Last Date : Feb 08, 2016
Invited from CA/CMA firms for performing internal audit of CSPGCL, CSPTCL, CSPDCL, and CSPHCL for the financial year 2015-16 and 2016-17.

Address: Chhattisgarh State Power Holding Company Limited, Vidyut Sewa Bhawan, Danganiya,

Cenvat Credit : Requirement of registration is procedural; hence, credit cannot be denied to input service distributor even if it is unregistered, provided assessee has maintained all records for verification by revenue

Cenvat Credit : Requirement of registration is procedural; hence, credit cannot be denied to input service distributor even if it is unregistered,

DISPOSAL OF PUBLIC GRIEVANCE ON PRIORITY WITHIN 2 MONTHS IN Centralised Public Grievance Redress And Monitoring System (CPGRAMS)

GOVERNMENT OF INDIA
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
North Block, New Delhi-110001
E-mail : chairmancbdt@nic.in
D.O. F. No. Dir .(Hqrs.) / Ch.(DT) /39(2) /2015/93007           
MOST IMMEDIATE
Dated 5 th February, 2015
Dear Principal Chief Commissioner / Director General
Sub: Disposal of Public Grievances on priority
As you are aware, the Centralised Public Grievance Redress And Monitoring System (CPGRAMS) is a citizen-centric initiative for online receipts and redressal of public grievances. It is one of the key result areas being

Steps taken by Income Tax Department for safeguarding taxpayers from phishing emails


The Income Tax Department has been at the forefront of using technology in implementing its –e-Governance initiatives. Most of its routine communication to taxpayers is through email and SMS. Therefore, the Department is very sensitive and alert to attempts made by fraudsters to spoof the

Thursday, February 4, 2016

FDI_Mandatory filing of form ARF, FCGPR and FCTRS on e-Biz platform and discontinuation of physical filing from February 8, 2016

RBI vide circular No. 40 dated 1st February 2016, has enabled filing online returns with Reserve Bank of India with a view to promoting the ease of reporting of transactions related to Foreign Direct Investment (FDI).
 
The Reserve Bank of India, under the aegis of the e-Biz project of the Government of India has

Disadvantages / Possible Distortions of Implementation of GST

Article
Disadvantages / Possible Distortions of Implementation of GST

Proposed GST is not a national unitary / centralized tax but a tax to be levied by both, states and the

ADJUDICATION AND APPEAL UNDER ‘FEMA’

Article
Section 13(1) of the Foreign Exchange Management Act, 1999 (‘FEMA’ for short) provides for imposing penalties by Adjudicating Authority.  The said Section provides that if any person

Notification No. 2 of 2016 - Procedure, Formats and Standards for ensuring secured transmission of electronic communication - reg.

WhatsApp groups can now have up to 256 members

Wednesday, February 3, 2016

Latest Notifications Dt 03.02.2016 related to SERVICE TAX


GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
NOTIFICATION
No. 03/2016-Service Tax 
New Delhi, the 3 rd  February, 2016
G.S.R. .(E).-  In exercise of the powers conferred by rule 6A of the Service Tax Rules, 1994, the Central Government, hereby makes following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 39/2012 – Service Tax, dated the 20 th  June, 2012 ,

Vacancy for CA/ICWA in Tata Communications

Appointment of Chartered Accountant Firms As Internal Auditor at head Office. Appointment of Chartered Accountant Firm as Internal Auditor at field Offices

WOMEN CAN BE A KARTA OF HUF


In a recent judgment, Delhi High Court has ruled that after Hindu Succession (Amendment) Act, 2005 there is no reason why Hindu women should be denied the position of a Karta. If a male member of an HUF, by virtue of his

DEEMED EXPORT UNDER FOREIGN TRADE POLICY 2015 – 2020

Deemed Export
The policy relating to deemed exports is given in Chapter 7 of Foreign Trade Policy.  The term ‘Deemed Export’ refers to those transactions in which goods supplied do not leave the
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