The most comprehensive news portal for Chartered Accountants and Other Professionals around the world.
Thursday, October 18, 2018
Cybersecurity facts tax practitioners need to get right
How many emails does your firm receive in one day?
Whatever the number, there’s a good chance a chunk of it is malware. According to a 2018 report compiled by Symantec, Corporation, one in 412 emails contained malware in 2017. For businesses with less than 250 employees, this rate jumped to one in 376 emails. When you consider just how many emails the average office worker receives in a week, things can look a little scary.
Cyberattackers represent a growing and evolving threat to CPA firms. Perpetrators are seeking sensitive client information, financial records and firm data like PTINs using any method available to infiltrate your defenses. And a lot of times, it works.
Understanding how to ward off these attacks is half the battle. Learn how to dispel common misconceptions about cybersecurity so you can be better prepared to face down any threat to your data.
Myth 1. Cybersecurity protocols are guidelines.
A robust cybersecurity plan isn’t optional for your tax practice. You’re legally required to protect your clients’ private information. It doesn’t matter where you live in the country or how many clients you have, your job is to keep would-be cyberthieves at bay.
The Federal Trade Commission (FTC) requires all tax preparers to create and enact security plans to protect client data. On top of that, all financial institutions — including CPA firms — must safeguard sensitive data under the Gramm-Leach-Bliley (GLB) Act. Although CPAs are exempt from some aspects of GLB, they must develop a written information security plan that describes how they’re prepared to safeguard client information and how they’ll continue protecting clients’ nonpublic personal information.
Not adhering to these guidelines will get you in hot water. You could lose your business or find your reputation with clients and your peers is damaged. On top of that, you’d be on the financial hook for breaches resulting from improperly secured client data. At an average of $148 per record, that’s quite a bit of cash.
Myth 2. Encrypted email is a safe way to send information to clients.
There’s a reason the IRS doesn’t send transcripts via email.
Your firm can have the very latest cybersecurity software and still spring a leak through email. That’s because to transfer a message from one computer to another, the email must go through multiple servers and sites along the way. And at any point, that message could be intercepted.
No matter whether you employ security certificates or message encryption, your clients are probably not going to such extremes to protect their email communications. Consider using client portals — secure online storage centers — to transmit all sensitive information to clients.
Myth 3. Third-party service providers have protocols in place that protect client data.
In May 2017, Target Corporation was ordered to pay $18.5 million to 47 states and the District of Columbia after a 2013 security breach compromised customer data. Because of the breach, cyberthieves stole the debit and credit card information of more than 40 million customers.
How did hackers gain access to Target’s sensitive customer data? By attacking a third-party vendor and snaking their way into the company’s servers. It’s the same way hackers can infiltrate your firm’s client data if you don’t fully vet your vendors. Here’s how:
Appoint of CA firm for finalization of Accounts, taxation and internal audit of MSSIDCL
- Maharashtra Small Scale Industries Development Corporation Limited, Mumbai, Maharashtra (06 Oct 2018)APPOINTMENT OF THE CHARTERED ACCOUNTANT FIRM ON CONTRACT BASIS FOR FINALIZATION OF ACCOUNTS, TAXATION AND INTERNAL AUDITAddress :
CVC shares report on 100 bank frauds with govt, RBI
Gaurav Choudhury
| Sector | Cos/people investigated |
| Gems & Jewellery | 3 |
| Manufacturing | 5 |
| Agro | 3 |
| Aviation | 1 |
| Service | 3 |
| Discounting cheques | 1 |
| Trading | 3 |
| IT | 3 |
| Export | 4 |
| Media | 2 |
GST: Explained for Common Man' - A book
GST being India's one of the most important Indirect Tax reforms since Independence has transformed the lives of people. Not only has it affected the business class but the common man equally. Understanding the complexities
Wednesday, October 17, 2018
Are Mumbai real estate prices on the verge of falling to 15 year lows?
Here is the step wise fall in Mumbai real estate prices
- First overall development of around 5 to 6 smart cities in UP itself and other native states in another year or two. When we say smart cities all equipped Mumbai Like medical transportation connectivity and like facilities and parallel industrial development iin these states. Major catalyst increased GSt income of states. And like minded development based govt in each of this states. Time line maximum two years.
- Followed by reduction in influx of population into
Vacancy for CA Inter in ASA Associates
- DesignationSenior - Taxation
- Experience CA Inter's/ MBA/ Graduates with 0-1 years experience in International taxation (preferably from a
Good news! IT officer can’t take away your tax refund and adjust against outstanding demand without notice
As per the Income Tax Act, income tax officials need to serve a valid notice of demand to the concerned taxpayer before doing any adjustment against the demand. A valid notice means a notice which is served within the time-frame specified under the respective sections of the Income Tax Act. Thus, if you are one of those taxpayers who have not got a valid notice of tax demand, then you need not worry about the refund as that can’t be adjusted against the
Tuesday, October 16, 2018
Vacancy for CA/CMA/CFA in Innoviti
Find enclosed details of AVP Finance opening with Innoviti Payment Solutions. If anyone of you is interested or have any references, please let me know.
Job Description:
Job Designation : AVP – Business Finance
Location : Bangalore
Reporting to : VP – Finance
Responsibilities:
The incumbent will be responsible for effective planning and execution of all commercial aspects of Finance, Commercial & Accounting Operations. He should contribute towards effective commercial, legal & contract management activities and achieve commercial objectives and business targets
Duties:
· Financial Modeling, Business Case, Pricing, Profitability Analysis for RFP/ Various business opportunities etc. (Both Buy & Sell)
· Support Sales Team in Contract / Commercial Negotiations with Customers and drive closure
· Drive sourcing, procurement for Technology, Sales, Distribution / Courier / Logistics Services, Outsourcing, Human Resources (HR), Facilities, Legal etc.
· Lead and drive Contract review and discussions with stakeholders (Sales, Engineering, Legal, Finance and Leadership), customers, suppliers in organized manner
· Planning and driving Contract review, iterations and signoff
· Manage, apply Commercial strategies and create processes to ensure deliverables on time
· Responsible for ensuring most favorable terms with regards to assurance of supply, quality, service and cost
· Drive Working Capital initiatives (Payment terms) across the company
· Manage supplier relationship right from vendor empanelment to contracting and ensure necessary
New functionalities introduced on GST portal
In this update, we will see new functionalities, which were made available on GST Portal, recently:
1. Refund: Application for Refund can now be filed for multiple tax periods, in following refund cases :
- Export of services with payment of tax with the facility to upload Statement 1.
- ITC accumulated due to Inverted tax structure with the facility to upload Statement 2.
- On account of supplies made to SEZ (Unit and Developer) with payment of IGST with the facility to upload Statement 4.
- Recipient/Supplier of deemed export with the facility to upload Statement 5B.
The user manual and FAQ of this facility is available in the help menu at GST portal and can be accessed by using the link https://www.gst.gov.in/help/refund
2. Payment of tax in installments:
Vacancy for CA in Volvo Group
Position Description
Job Summary:
- This position is responsible for monthly BCS reporting, Master Finance month closing, Group audit & hard close audit, statutory audit, balance
Shocker for Indian Builders will have to pay Income Tax on unsold inventory
Builders across the country are in for a rude shock. They could be soon saddled with a tax burden that few, or probably none, of them have accounted for.
Developers, according to changes in the law that have gone unnoticed so far, will have to pay tax on the entire fair value -- based on the ready reckoner rates -- of all properties they lease out in 2018-19 and later. If a builder, for instance, leases out unsold properties having a combined fair market value
Developers, according to changes in the law that have gone unnoticed so far, will have to pay tax on the entire fair value -- based on the ready reckoner rates -- of all properties they lease out in 2018-19 and later. If a builder, for instance, leases out unsold properties having a combined fair market value
Important Action Points for filing GSTR -3B for September 2018
We are summarising herewith key areas that needs due attention before filing of monthly return in Form GSTR-3B for the September month:
Finally, after facing every step of hurdle during past one year of journey of GST, passing through more than 400 changes in form of Notifications, Circulars, Press
Monday, October 15, 2018
Vacancy for CA/CMA in General Electrics (GE)
Role Summary: The FP&A COE provides FP&A support to
various GE businesses across the globe. The Senior Finance Analyst will
support one of these businesses in the areas of financial planning,
Budgeting, forecasting and Cost analysis Essential Responsibilities: • Support financial planning, estimation & closing cycles • Provide Estimation and Analytics support for Base Cost• Work closely
Arrested for forging Chartered Accountant ’s Signature and Seal
The Karamana police on Sunday arrested a 30-year-old man for
allegedly forging the signature and seal of a chartered accountant,
reported the Hindu.
The police identified the accused as Suresh of Karamana, who operated a private financing company. He has been accused of defrauding a trading company by masquerading as a chartered accountant in
The police identified the accused as Suresh of Karamana, who operated a private financing company. He has been accused of defrauding a trading company by masquerading as a chartered accountant in
Vacancy for CA in Pepsico
Job Description
Accountabilities
• Ensure GST Compliance
• Driving GCS/SOPs compliance in finance processes
• Interact
with other functions in plant & ensure support to Business &
operation team and ensure nil
Nestlé found to have profiteered Rs 98 crore from GST rate cuts
The Director General of Anti-Profiteering (DGAP) has charged the fast
moving consumer goods (FMCG) major Nestle with profiteering. The
company has been found to have deprived its customers of goods and
services tax (GST) cuts of Rs 98 crore by not revising the prices of
chocolates, baby food items and Maggi noodles among other products in
line with the new rates, sources said. The
Sharp hike in interest rate of PPF, Sukanya Samriddhi scheme, 5 yr Post Deposit scheme,NSc, SCSS
As part of the quarterly revision in interest rates of small savings
schemes, the interest rates for these schemes saw a sharp hike for the
October to December quarter. For example, the interest rates for the
public provident fund (PPF), 5-year post office deposit scheme, National
Savings Certificate (NSC), Sukanya Samriddhi Account Scheme and Senior
Citizen Savings Scheme have been hiked sharply by 40 basis points.
Expecting a higher influx into small savings schemes after the latest
interest rate
Ola Cabs underpaid GST of Rs 2 crore
LUDHIANA: Central GST commissionerate Ludhiana’s anti-evasion wing and ANI Technologies, the parent company of Ola Cabs
that has its office in the city, are caught in a tax tussle. While the
commissionerate has accused the company of underpaying GST of Rs 2.31
crore from June 2017 to March 2018 for its operations in Punjab, the
latter called the allegations baseless. The commissionerate says the
firm issued two invoices instead of one to its customers and claimed
input
Sunday, October 14, 2018
Vacancy for CA/ICWA in Reliance Jio Infocomm Limited
-
Function/Business Area :
Finance Compliance & Accounting
-
Location :
Bhavnagar - Gujarat
-
Job Responsibilities :
Be the business partner to the Jio area to provide financial leadership
for business growth and BAU activities for the entire gamut of Jio
offerings within the area - Education Requirement :
EXPRESSION OF INTEREST (EOI) FOR HIRING OF TAX CONSULTANCY SERVICE FOR BSNL
-
Bharat Sanchar Nigam Limited, Mumbai, Maharashtra (28 Sep 2018)
EXPRESSION OF INTEREST (EOI) FOR HIRING OF TAX CONSULTANCY SERVICE BY CHARTERED ACCOUNTANTS
Address :
'Australia is in trouble': The plan to fix Australia's tax system
Australia has more than 125 taxes at a state and federal level, but 90
per cent of revenue is raised through just 10 of them. The pressure is
now on to tear up the system and start again.
Read more
Read more
Urban Improvement Trust not entitled to Tax Exemption under Section 10(20) of Income Tax Act, Supreme Court
The Supreme Court has held that an Urban
Improvement Trust is not covered by definition of ‘local authority’
within the meaning of Explanation to Section 10(20) of the Income Tax
Act, 1961 (IT Act). Hence, it is not entitled to tax exemption under the
said provision.
The judgment was rendered by a Bench of Justices AK Sikri and Ashok Bhushan in a batch of
MCA amends Instructions For Preparation of Balance Sheet and Statement Of Profit And Loss of A Company / NBFCs
MCA amends Instructions For Preparation of Balance Sheet and Statement Of Profit And Loss of A Company / NBFCs
Ministry of Corporate Affairs notifies Ind AS Schedule III applicable to NBFCs. Schedule III will apply to NBFCs covered under Ind AS applicability. MCA has also amended the existing Division I (Indian GAAP) & Division II (Ind AS) Schedule III. Ind AS Schedule III changes require companies preparing Ind AS financial statements to give additional disclosures related trade receivables, loans
Saturday, October 13, 2018
ICAI constitutes a high power group to look into ILFS failure
In the recent past, there have been news reports regarding diversion of loan money in IL&FS and its subsidiary companies. The Disciplinary Directorate of the Institute of Chartered Accountants of India (ICAI), upon coming across such news report has suo motu taken cognizance of the matter and issued notice on October 4, 2018 to the audit firms that carried out statutory audit works of IL&FS for the last 5 years.
Why an amendment is proposed in Section 49 of the Income-tax Act in the Budget 2018?
1. Introduction
The Finance Bill 2018 through clause 18 proposes to amend
section 49 of the Income-tax Act (the Act) so as to provide that where
the capital gain arises from the transfer of a capital asset, referred
to in clause (via) of section 28, the cost of acquisition of such
asset shall be deemed to be the fair market value which has been taken
into account for the purposes of the said clause.
The following amendments which have a bearing on the proposed amendment to section 49 are pertinent-
Vacancy for CA in Infosys
Company:
Infosys Limited India
Job ID/Ref Code: Inf_EXTERNAL_10023907_36
Skill(s): Financial Accounting, Budgeting, Forecasting, Financial Analysis, Tax, Audits etc.
Experience Range: 05-08 years
Primary Location: Bangalore
Location(s):
Job ID/Ref Code: Inf_EXTERNAL_10023907_36
Skill(s): Financial Accounting, Budgeting, Forecasting, Financial Analysis, Tax, Audits etc.
Experience Range: 05-08 years
Primary Location: Bangalore
Location(s):
Job Description
Role Designation- Associate/Senior Associate Finance
Responsibilities- Reviewing and analyzing all business contracts Monitoring and controlling corporate budgets Managing investor relations Preparing and filing all tax returns and keeping
Role Designation- Associate/Senior Associate Finance
Responsibilities- Reviewing and analyzing all business contracts Monitoring and controlling corporate budgets Managing investor relations Preparing and filing all tax returns and keeping
In the works: Uniform stamp duty for financial instruments
In the works: Uniform stamp duty for financial instruments
Companies may have to show ledgers for claiming GST credit of over Rs 25 lakh
Companies
that availed of more than Rs 25 lakh credit under the goods and
services tax (GST) regime in lieu of levies paid under the previous
system will soon have to give details of their purchase ledgers for six
months before the new tax regime was rolled out.
The government will soon bring out a new ‘credit growth return’ form. This comes after a detailed
The government will soon bring out a new ‘credit growth return’ form. This comes after a detailed
Vacancy for CS in aphelion finance pvt.ltd
POSITION / JOB TITLE : Company Secretary
The Incumbent is responsible for
The Incumbent is responsible for
- All Secretarial works mentioned in details in KRA along with legal issues, drafting and vetting of agreements, legal notices etc except those directly handled by legal Head.
- Auditing of loan documents, preparing, validating, supervising and ensuring that standard
Why the GST audit can be seen as an opportunity, not just a futile compliance exercise
Why the GST audit can be seen as an opportunity, not just a futile compliance exercise
Now GST on complimentary match tickets
Read more at:
http://timesofindia.indiatimes.com/articleshow/66191032.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Cricket authorities may have to contend with a new headache ..
Cricket authorities may have to contend with a new headache ..
Delhi government launches drive against GST defaulters
Read more at: http://www.sify.com/finance/delhi-government-launches-drive-against-gst-defaulters-news-finance-skmxUObdhbffb.html
Delhi government launches drive against GST defaulters
Read more at: http://www.sify.com/finance/delhi-government-launches-drive-against-gst-defaulters-news-finance-skmxUObdhbffb.html
Read more at: http://www.sify.com/finance/delhi-government-launches-drive-against-gst-defaulters-news-finance-skmxUObdhbffb.html
In order to ensure
compliance of Goods and Services Tax (GST) provisions, the Delhi
government on Friday launched an extensive drive against tax and return
defaulters with an aim to increase revenue for the national capital.
The move by the Department of Trade and Taxes is aimed at checking tax
evasion and bridge the revenue gap.
Read more at: http://www.sify.com/finance/delhi-government-launches-drive-against-gst-defaulters-news-finance-skmxUObdhbffb.html
Read more at: http://www.sify.com/finance/delhi-government-launches-drive-against-gst-defaulters-news-finance-skmxUObdhbffb.html
New Delhi: In order to
ensure compliance of Goods and Services Tax (GST) provisions, the Delhi
government on Friday launched an extensive drive against tax and return
defaulters with an aim to increase revenue for the national capital.
The move by the Department of Trade and Taxes is aimed at checking tax
evasion and bridge the revenue gap.
"A detailed strategy has been chalked out by the department and numerous
instructions like identifying dealers carrying out business without
registration and rigorous follow-up of notices to non-filers of return
have been issued to GST officers of the state tax department," VAT
Commissioner H. Rajesh Prasad said giving details of the drive.
Other instructions, Prasad said, include identification and action
against tax payers claiming excessive Input Tax Credit (ITC) in GSTR-3B
filed as compared to GSTR-2A, action against tax payers showing lesser
output tax liability in GSTR-3B filed as compared to GSTR-1, scrutiny of
Input Tax Credit (ITC) claimed by the tax payers in TRAN-1 form and
action on the tax payers claiming excessive ITC.
The drive will also include physical verification of at least 10 per
cent of new tax payers to curb issuance of bogus invoices, physical
verification of old or migrated tax payers in suspicious cases, creating
mobile squads to check the system of e-way bill and invoices during the
movement of goods within Delhi, and verification of the returns filed
by work contractors in Delhi.
A statement by the Delhi government said that show-cause notices have
also been issued to 51,500 tax defaulters.
"As of now, notices have been issued to the 51,500 tax payers who have
not filed GSTR-3B returns for the tax periods concerned," the statement
said.
Besides, it said, 135 notices have been issued in respect of excessive
claim of ITC in GSTR-3B by the tax payers, and 837 notices have been
issued for showing lesser output tax liability in GSTR-3B returns by the
tax payers as compared to GSTR-1.
Read more at: http://www.sify.com/finance/delhi-government-launches-drive-against-gst-defaulters-news-finance-skmxUObdhbffb.html
Read more at: http://www.sify.com/finance/delhi-government-launches-drive-against-gst-defaulters-news-finance-skmxUObdhbffb.html
Request For Proposal For Appointment Of Internal Auditor Heifer Project International
-
Heifer Project International, Noida-Uttar Pradesh (05 Oct 2018)
Request For Proposal For Appointment Of Internal Auditor In Delhi/Noida
Address :
Friday, October 12, 2018
Thursday, October 11, 2018
Vacancy for CA in Star India
Senior Executive-Corporate Governance
Legal
OVERVIEW OF THE COMPANY
StarStar
India has defined the Indian media landscape for over two decades and
today is one of the country’s leading media conglomerates, reaching
approximately 650 million viewers a month across India and more than 100
other countries. Star generates 20,000 hours of content every year and
University Of Mumbai, Mumbai, Maharashtra Expression Of Interest (EOI) Form The Reputed Firm Of Chartered Accountants For Appointment Of Internal Auditor And Tax Consultant For The Financial Year 2018-19
- University Of Mumbai, Mumbai, Maharashtra Expression Of Interest (EOI) Form The Reputed Firm Of Chartered Accountants For Appointment Of Internal Auditor And Tax Consultant For The Financial Year 2018-19 And
Wednesday, October 10, 2018
(IL&FS) will be the first case for the newly constituted auditors’ watchdog (NFRA).
REQUEST FOR PROPOSAL (RFP) FOR FINANCIAL AND TAX DUE DILIGENCE OF BANK OF BARODA, DENA BANK AND VIJAYA BANK FOR THE PROPOSED AMALGAMATION OF BANK OF BARODA, DENA BANK AND VIJAYA BANK
REQUEST FOR PROPOSAL (RFP) FOR FINANCIAL AND TAX DUE DILIGENCE OF
BANK OF BARODA, DENA BANK AND VIJAYA BANK FOR THE PROPOSED AMALGAMATION
OF BANK OF BARODA, DENA BANK AND VIJAYA BANK
Address :
Address :
CPE Calendar 2018-2019 obligatory topics
PART A : STANDARD PROGRAMME STRUCTURE ON FOCUS TOPICS
BEGINNERS COURSE ON GST TO ENABLE MEMBERS TO CONNECT TO THE NEW LAW-INDIRECT TAXES COMMITTEE
1. Overview and Levy
2. Scope of Supply
3. Registration
4. Transitional Provisions
5. Returns and Refunds
6. Job work
7. Export Related GST compliances
Vacancy for CA in DUFF AND PHELPS, LLC
Our
professionals balance analytical skills, deep market insight and
independence to deliver solid, defensible analysis and practical advice
to our clients. As an organization, we think globally. We create
transparency in an opaque world, and we encourage our people to do
Now Govt will reward you in these ways for paying tax
NEW DELHI: A cup of tea with the state governor,
priority check-in at the airport, passports on priority, dedicated toll
lanes, airport lounge access — these are some of the rewards that could
be offered to exemplary taxpayers.
The government is looking to put in place an incentive programme to reward and recognise honest taxpayers to encourage a culture of compliance. A committee has been set up under Central Board of Direct Taxes (CBDT) to draw up the scheme, a top official told ET.
The government has launched several measures to root out black money, including stringent legislation, comprehensive amendments to the benami law and a major crackdown against tax evaders under Operation Clean Money. With a number of deterrents having been put in place, the
The government is looking to put in place an incentive programme to reward and recognise honest taxpayers to encourage a culture of compliance. A committee has been set up under Central Board of Direct Taxes (CBDT) to draw up the scheme, a top official told ET.
The government has launched several measures to root out black money, including stringent legislation, comprehensive amendments to the benami law and a major crackdown against tax evaders under Operation Clean Money. With a number of deterrents having been put in place, the
NAA actions proves that Consumer is King under GST regime
After penalising multi-brand retailer Lifestyle International and
home-builder Pyramid Infratech, the National Anti-profiteering Authority
(NAA) on Tuesday penalised a dealer based out of Uttar
Kanpur Chartered Accountants' Society in association with Rotary Club of Kanpur Gaurav is organizing a Conference
Kanpur Chartered Accountants' Society in association with Rotary Club of Kanpur Gaurav is organizing a Conference:
Venue: Sir Padampat Singhania Auditorium, Civil Lines, Kanpur (Merchant Chambers UP)
Date and Time:
From January, CA-issued certificates will have unique IDs to prevent forgery
All certificates issued by chartered accountants will have a unique
document identification number from January next year as part of efforts
to prevent forgery of documents.
The Institute of Chartered Accountants of India (ICAI), which has more than 2.92 lakh members, on Tuesday said it has introduced the Unique Document Identification Number (UDIN) for the members.
According to the institute, there has been an increasing trend to forge the stamp and signature of
The Institute of Chartered Accountants of India (ICAI), which has more than 2.92 lakh members, on Tuesday said it has introduced the Unique Document Identification Number (UDIN) for the members.
According to the institute, there has been an increasing trend to forge the stamp and signature of
Worth reading very well written by Mr. Uday Kotak to equity investors
Worth reading very well written by Mr. Uday Kotak
i wrote this to my clients earlier today. You may find it reassuring under the circumstances.
Uday Kotak.
———————-
~ The weekend has brought much needed respite from days of correcting markets, and offers a timely opportunity to reflect on this.
The *panic* that seems to have spooked investors is largely on account of 3 factors;
i wrote this to my clients earlier today. You may find it reassuring under the circumstances.
Uday Kotak.
———————-
~ The weekend has brought much needed respite from days of correcting markets, and offers a timely opportunity to reflect on this.
The *panic* that seems to have spooked investors is largely on account of 3 factors;
Tuesday, October 9, 2018
Chartered Accountants should take this precautions while filing 3CD to prevent penalty u/s 271J
The Tax Audit due date is on peak. All the Chartered Accountants are busy completing their works. It is known fact that any mistake by the Chartered Accountant in the Tax Audit Report will cost him Rs. 10,000/- as per Section 271J of the Income Tax Act, 1961.
Section 271J of the Income Tax Act, 1961 reads as under:
Vacancy for CA / ICWA in Capgemini
Short Description
Financial Analysis & reporting
Qualifications
B.Com/ M.Com/ CA/ ICWA/ MBA-Finance
Job Responsibilities
| Job Description (Roles and responsibilities) |
Job Description
|
GST Audit- Backbreaking compliance for taxpayers and auditors
Various measure have been taken by the government to ensure compliance of
GST law and audit is one them. Audit conducted under GST law is the
examination of records maintained by a taxable person to verify the
correctness of information furnished, taxes discharged, refund claimed
and input
28% slab of GST is to go: Sushil Modi
Traders may get a sigh of relief as the highest rate under the GST
regime, which is 28 per cent, would soon become a thing of the past.
Bihar Deputy Chief Minister and GST Network panel head Sushil Kumar Modi
assured this saying that it is doable in the near future.
Modi also informed that looking at pace of revenue collection coming under the regime within two-
Modi also informed that looking at pace of revenue collection coming under the regime within two-
Waiver of Loan - GST Perspective
Introduction
1. A
'loan waiver' is the waiving of the real or potential liability of the
person or party who has taken a loan through the voluntary action of the
person or party who has taken loan. In contrast to loan waiver there is
also a concept of 'loan write off' wherein the loan is removed from the
Balance
High court warns PCIT over lack legal administration in Dept
PCIT vs. Radan Multimedia Ltd (Bombay High Court)
There is no discipline in the manner the Dept conducts matters. The Dept should not take legal matters casually and lightly. There should be a dedicated legal team in the department. Lack of preparation is affecting the performance of the advocates. They do not have full records & do
Monday, October 8, 2018
CBDT *further extends* due dt for filing of IT Returns & audit reports
Vacancy for CA in Morgan Stanley
POSTING DATE
: Oct 8, 2018PRIMARY LOCATION
: Non-Japan Asia-India-Maharashtra-Mumbai (MSA)
EDUCATION LEVEL: Bachelor's Degree
JOB
: Finance
EMPLOYMENT TYPE: Full Time
JOB LEVEL: Analyst
DESCRIPTION
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and
Tax deduct at source under section 194C--Lorry charges paid to different truck owners for transportation of goods
Tax deduct at source under section 194C--Lorry charges paid to different truck owners for transportation of goods--Applicability
Conclusion: Where assessee had merely facilitated transportation of goods by hiring lorries, the assessee was not liable to deduct tax at source under section 194C on lorry charges paid to truck owners because there was no direct
Sunday, October 7, 2018
Vacancy for CA in Grand Hyatt Mumbai
Job Description
You will be responsible
for the efficient running of the department in line with Hyatt
International's Corporate Strategies and brand standards, whilst meeting
employee, guest and owner expectations.
You will be required to supervise and oversee the accounts payable, receivable, ledger, credit and all
You will be required to supervise and oversee the accounts payable, receivable, ledger, credit and all
All about GST TDS applicable from 1/10/18
about GST TDS
Section - 51 of CGST Act
Effective Date: 01.10.2018
Effective Date: 01.10.2018
What Section Says:
Persons notified vide Notification No. 33/2017 - Central Tax, shall be liable to deduct tax @1% under CGST and 1% under SGST from
the payment made or credited to the supplier of taxable goods or
services or both if the total value of such supply, under a contract,EXCEEDS TWO LAKH AND FIFTY THOUSAND RUPEES (Rs. 2,50,000).
Notified persons 33/2017:
AUDIT REPORTS/REPORT OF ACCOUNTANT, ETC., PRESCRIBED UNDER INCOME-TAX RULES
AUDIT REPORTS/REPORT OF ACCOUNTANT, ETC., PRESCRIBED UNDER INCOME-TAX RULES
| Rule | Relevant section of the Income-tax Act | Prescribed Statement/Audit Report | Prescribed Form No. |
| (1) | (2) | (3) | (4) |
| 2D(5)(f) | 10(23F)1 | Audit report by venture capital fund or venture capital company to DG (IT) Exemptions | — |
| 2E(6) | 10(23G)2 | Audit report to Chief Commissioner by enterprise engaged in eligible business | — |
| 5A3 | 32(1)(iia) | Report of accountant required under section 32(1)(iia) | 3AA |
| 5AC | 33AB(2) | Audit report required under section 33AB(2) | 3AC |
ICAI’s new initiative to trace fake chartered accountants
The Institute of Chartered Accountants of India ( ICAI ) has asked its members to register with its new venture, ie., Unique Document Identification Number to trace out the fake Chartered Accountants.
“It has been noticed that financial documents/ certificates attested by third person misrepresenting themselves as CA Members are misleading the
Saturday, October 6, 2018
Vacancy for CA in JPMorgan, Chase
Analyst — IB F & BM (CFO MIS)
Req #: 180101374
Location:
Mumbai,
MH,
IN
Job Category: Accounting/Finance/Audit/Risk
JPMorgan
Chase is a leading global financial services firm with assets of $1.1
trillion and operations in more than 50 countries. The firm is a leader
in investment banking, financial services for consumers and businesses,
financial transaction processing, asset and wealth management, and
AHMEDABAD WE ARE LOOKING (CS TRAINEE EXECUTIVE- PROFESSIONAL) - PAID TRAINEE - PAID ARTICLE - ) CS -MCA -NCLT- TM -IBC 130918
AHMEDABAD : WE ARE LOOKING (CS TRAINEE EXECUTIVE- PROFESSIONAL) - PAID TRAINEE - PAID ARTICLE - CS (SIX) CS -MCA -NCLT- TM -IBC
Work AREA CS -MCA -NCLT- TM -IBC
Email you CV first
Email you CV first
Internal Auditor not to undertake Goods and Service Tax
We have received enquiries from the members at large and other
stakeholders as to whether an internal auditor of an entity can also
undertake GST Audit of the same entity as required under the Central
Key amendments in relation to Rights, Bonus, QIP and Preferential Issue under SEBI (ICDR) Regulations, 2018
SEBI
in order to align its provisions under ICDR Regulations with Companies
Act, 2013 and allied regulations, had come with its consultation paper
on May 04, 2018 detailing the suggestive changes under various fund
raising options by listed issuers. In continuation to the same, SEBI
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