Chhajed elected, Hegde out... Loya elimination as expected gave Chhajed a
big boost...274 2nds ..exactly as per our estimation! With this, former
WIRC Chairman Prafulla Chhajed pulls off one of the most remarkable
comebacks in ICAI Central Council election history..atleast in the last 5
elections ... He was just 1277 in first preference count, 242 votes
behind 11th placed Rajesh Loya and 4 places below! To come back from
such a big deficit and finally win quite convincingly shows the
popularity of Chhajed! As one of
The most comprehensive news portal for Chartered Accountants and Other Professionals around the world.
Saturday, December 22, 2012
Rate of exchange of conversion of each of foreign currency for Customs purposes wef 21st December, 2012
Notification No.111/2012-Customs (N.T.), DATED THE 20th December, 2012
S.O. (E). – In exercise
of the powers conferred by section 14 of the Customs Act, 1962 (52 of
1962), and in super session of the notification of the Government of
India in the Ministry of Finance (Department of Revenue)
No.108/2012-CUSTOMS (N.T.), dated the 6th December, 2012 vide number S.O. 2838 (E), dated the 6th
December, 2012, except as respects things done or omitted to be done
before such super session, the Central Board of Excise and Customs
hereby determines that the rate of exchange of conversion
TDS U/S 194A applicable on payment by partner to firm
Further sec. 194A provides
exemption from the obligation imposed under that section only in respect
of interest paid/credited by a firm to its partner. The Act does not
provide such exemption to the interest paid/credited by a partner to his
firm.
Wednesday, December 19, 2012
Expression of Interest from Suitable CA Partnership Firms Registered with Comptroller & Auditor General of India for Outsourcing of Execution & Management Services in the area of accounting and taxation.
Chhattisgarh Rural Road Development Agency 
Last Date : 21/12/2012
Expression of Interest from Suitable CA Partnership Firms Registered with Comptroller & Auditor General of India for Outsourcing of Execution & Management Services in the area of accounting & taxation.
Address: Chhattisgarh Rural Road Development Agency, Vikas Bhawan, Civil Line, Raipur
Phone:
Email: cg-itno@nic.in
Last Date : 21/12/2012
Expression of Interest from Suitable CA Partnership Firms Registered with Comptroller & Auditor General of India for Outsourcing of Execution & Management Services in the area of accounting & taxation.
Address: Chhattisgarh Rural Road Development Agency, Vikas Bhawan, Civil Line, Raipur
Phone:
Email: cg-itno@nic.in
Require Article Trainee for Doing Chartered Accountancy AT PUNE
| Employer - | KAPOOR BHUSHAN CO CHARTERED ACCOUNTANTS |
| Email - | kapoorbhushanca@hotmail.com,kbckbcd@gmail.com |
HIGHLIGHTS OF THE COMPANIES BILL, 2011 (as passed in Lok Sabha on 18.12.12)
HIGHLIGHTS OF THE COMPANIES BILL, 2011
(as passed in Lok Sabha on 18.12.12)
Ø The Bill has 470 clauses as against 658 Sections in the existing Companies Act, 1956.Ø The entire bill has been divided into 29 chapters.Ø Many new chapters have been introduced, viz., Registered Valuers (ch.17); Government companies (ch. 23); Companies to furnish information or
INDIA GROWTH FAILURE SOLUTIONS-ICSI
Core reasons for failure :
Leadership
Lack of vision and strategic thinking
Failure to ignite passion
Financial mismanagement
High debt leverage
Not in sync with technology and times
Additinal causes for failures:
Competition and efficiency and productivity
Police,revenue depts top chai paani charts
Police,revenue depts top chai paani charts
Bribe Amount Across All State Depts Up 37% In A Year: ACB
& S Ahmed Ali TNN
Thane: When it comes to chai paani,Maharashtra police and the state revenue department lead the stakes,suggest the Anti-Corruption Bureau (ACB)s bribery charts of the past two years.More than 45% of the sarkari staff trapped in bribery cases belong to the two key state agencies.
The ACB statistics underscore a desperate need for transparency in the state administration across all departments as the total bribe amount trapped in 2012 increased 37% from 2011.
Bribe Amount Across All State Depts Up 37% In A Year: ACB
& S Ahmed Ali TNN
Thane: When it comes to chai paani,Maharashtra police and the state revenue department lead the stakes,suggest the Anti-Corruption Bureau (ACB)s bribery charts of the past two years.More than 45% of the sarkari staff trapped in bribery cases belong to the two key state agencies.
The ACB statistics underscore a desperate need for transparency in the state administration across all departments as the total bribe amount trapped in 2012 increased 37% from 2011.
SEMINAR ON SERVICE TAX AT KAUSHAMBI GHAZIABAD
PLEASE JOIN SEMINAR ON SERVICE TAX AT HOTEL ROSSINN NEAR KAUSHAMBI METRO
STATION KAUSHAMBI GHAZIABAD ON 23rd Dec, 2012 TIMING 09:30 AM - 2 PM
CPE HOURS - 4 FEES RS. 250/-
TRANS. HINDON CPE STUDY CIRCLE OF CIRC
TRANS. HINDON CPE STUDY CIRCLE OF CIRC
COMPANIES LIKE SATYAM-ICSI
Companies like Satyam indulge in the following activities that come
under the ambit of unethical practice:
a) Resorting to dishonesty, trickery or deception.
b) Distortion of facts with a view to misleading or creating
confusion.
c) Manipulating executives emotionally by exploiting their
vulnerabilities.
Monday, December 17, 2012
Chartered Accountant Recruitment in Bank of Maharashtra DEC...
Bank of Maharashtra
(A Govt. of India Undertaking)
HRD Department, Lokmangal, 1051, Shivajinagar, Pune – 411005
Chartered Accountant Recruitment – Phase-II 2012-13
Bank of Maharashtra invites Online applications, for Specialists Officers in the following Disciplines :
Hosting of Draft Bank Branch Auditors' Panel for the year 2012-13 till 21st December, 2012
Dear Sir,
We would like to inform that the draft Bank Branch
Auditors' Panel for the year 2012-13 has been hosted at www.meficai.org and will be available till
21st December, 2012. In case of query, pl inform members to log
a complaint at http://www.meficai.org/complaints/complaint_enrty_enter.jsp .
80P(4) are applicable only to the cooperative banks and not to cooperative credit society
80P(4) are applicable only to the
cooperative banks and not to cooperative credit society
ITO vs M/s Vasvi Credit Co-op
Society Ltd
Dated: 14th December
2012
The assessee is a credit cooperative society providing credit facilities
to its members. A.Y 2008-09, return of income was filed declaring NIL income
after claiming exemption under section 80P. The claim of the assessee u/s 80P(2)(a)(i) was rejected by the AO determining
the total income at Rs.61,03,934/- . On appeal the Ld. CIT(A) relied on order
passed in 2011 by ITAT in assessee’s own case Vasavi Credit and held that the assessee is a cooperative credit society and not a
cooperative bank and therefore, is entitled to deduction under section
80P(2)(a)(i) of the Act. It was held that there was a clear distinction
between
'Zero' Campus Placement of CAs – An Eye Opener!
Dear Friends & Professional Colleagues,
The dismal campus placement statistics ( Pls refer CA Journal – Oct 2012 ) should shock the collective conscience of the Professionals, particularly our Council leadership. Only 5.52% ( 587 out of 9382 ) of freshly qualified CAs all over India, who registered for campus placement, were offered jobs! As far as Pune is concerned not a SINGLE job was offered in Pune to the 597 CA job aspirants. Even more surprising is the fact that in a vibrant economic hub like Pune, only ONE corporate attended the campus program. This really should be an eye opener for taking immediate review and corrective actions.
Professional Oppournity- Concurrent Audit Central Bank Of India
Plesea click on below noted link to fill up online application for concurrent audit of Central Bank Of India
http://119.82.71.21/con2012/
http://119.82.71.21/con2012/
Mumbai bench ITAT WNS North America Inc Extended deemed royalty by Finance Act 2012 cannot impact DTAA as treaty definition exhaustive; Reimbursement theory explained from PAYER and PAYEE angle in Intl taxation; Transfer pricing Freight companies
MUMBAI BENCHES “L”, MUMBAI ITA
No.8621/Mum/2010 M/s.WNS North America Inc Date
of Pronouncement : 14.12.2012 The contention of the
ld. DR is two-fold. First, that any retrospective
amendment to the provisions of the Act is
relevant for determining the taxability or deductibility of an amount even
under the provision of the DTAA and second, the amount in question, when
examined in the light of Explanation 5 to sec. 9(1)(vi) inserted
retrospectively clearly, brings it in the scope of `royalty 3.5. We espouse the
first segment of the contention of the ld. DR that the retrospective amendment
to the provisions of the Act per se should
be considered for determining the taxability of the amount even under the DTAA.
Coming back to our context, if the retrospective amendment is in the realm of a
provision of which no contrary
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