The most comprehensive news portal for Chartered Accountants and Other Professionals around the world.
Thursday, August 22, 2013
Vacancy for CA in DBS
|
||||||||
| ||||||||
Vacancy for CA/ICWA in ECIL
Post Name : Accounts Officer
Qualification/Educational Criteria: Candidates who wish to apply for this post must posess the following skill and criteria: A qualified CA or ICWA.
No of Post : 01
Age Limit(in yrs): Interested candidates who are appearing for this post should have the age of 28 years.
Qualification/Educational Criteria: Candidates who wish to apply for this post must posess the following skill and criteria: A qualified CA or ICWA.
No of Post : 01
Age Limit(in yrs): Interested candidates who are appearing for this post should have the age of 28 years.
Vacancy for CA Articleship in Pune
Company Name/Employer Name T R Chadha & Co
Job Description We are one of the leading firms in India. We need Article Assistants with good communication skills and strong education background.
Job Name/Title Article Assistants
Job Description We are one of the leading firms in India. We need Article Assistants with good communication skills and strong education background.
Job Name/Title Article Assistants
Vacancy for ICWA / CA Inter in Unilever
AM - Global COPA Operations(
Shift
: Day JobJob
: FinanceTravel
: Yes, 5 % of the Time
Description
External Unilever Jobs
No matter who you are, or where in the world you are, the chances
are that our products are a familiar part of your daily routine.
Indian economy comes to a fullstop
A fairly large South-Indian group with varied business interests had invited me to a
strategy session to turn it around. It was the first meeting and was to be preceded by breakfast. As we waited to be
Wednesday, August 21, 2013
Vacancy for CA in GE
| GE Global Growth & Operations | |
| Global Growth & Operations - GE India | |
| Invoice to Cash Leader - GE India |
DO NOT SIGN TAX AUDIT REPORT ON 30TH SEPTEMBER
UPLOADING TAX AUDIT REPORT:DO NOT SIGN TAX AUDIT REPORT ON 30TH SEPTEMBER
THE WORDS "BEFORE" USED IN SEC 44AB REQUIRES THAT TAX AUDIT MUST BE SIGNED BEFORE 30 TH SEPTEMBER. SEC 44AB IS REPRODUCED BELOW:
72[Audit of accounts of certain persons carrying on business or profession.
Maharashtra Co-operative Empanelled Auditors
Important Information for Auditors who are empanelled but not carrying any audit
1. It is mandatory for every such auditor to lo gin whether audits are allotted or not
2. Empanelled Auditors who have not taken up any Audit activity must log into the system and update his/her
RTI Online Web Portal
Press Information Bureau
Government of India
Ministry of Personnel, Public Grievances & Pensions
Government of India
Ministry of Personnel, Public Grievances & Pensions
21-August-2013 18:33 IST
Narayansamy Launches RTI Online Web Portal
Union
Minister of State for Personnel, Public Grievances & Pensions and
Prime Minister’s Office Shri V Narayanasamy has said that rtionline web
portal is another milestone in the regime of RTI that will further
promote participation of our citizens in the process of governance and
policy making decisions of the
Top Deck Leads Exodus at KPMG Forensic Unit 6 partner-level execs leaving with 75-100 employees, may join rival PwC
Top Deck Leads Exodus at KPMG Forensic Unit
6 partner-level execs leaving with 75-100 employees, may join rival PwC
SRUTHIJITH KK NEW DELHI
Alarge number of professionals from the forensic audit division, including six partner-level executives, are leaving professional services firm KPMG India, amounting to a rare mass exodus, multiple people familiar with the development said. Those quitting include Deepankar Sanwalka, who heads the 1,400-people-strong risk consulting division at the company. The forensic audit division, which employs about 300 people, is part of the risk-consulting group. Five partners of a total of six employed by the forensic audit unit have also quit. According to industry sources and people within the company who asked not to be named, between 75 and 100 staff members are also expected to leave along with the partners. While the partners and some staff have already resigned, many others are in the process or resigning or weighing options. Sudhir Dungarpur, Arpita Pal, Dinesh Anand, Murli Talasaliya and Gaganpreet Puri are the other partners who have resigned. These executives could not be individually reached for comment. Benefitting from the movement could be rival Pricewaterhouse-Coopers, where most of the partners and other executives are headed, according to multiple persons close to the unfolding developments. "We cannot comment on this specific issue. However, we can confirm that PwC India is in an expansion mode. We are always looking at recruiting quality talent in line with our overall growth strategy to provide clients with value-added services," a spokeswoman said. Bitter War for Talent
KPMG said it has appointed a new head for the forensic services unit. "As part of our long-term strategy to transform ourselves to meet the fast-changing market scenario, we expect to see several internal alignments and therefore movements," a company spokesperson said in a statement.
The firm has named Sandeep Dhupia as the new head of the forensic practice. Ritesh Tiwari from KPMG's Australia practice and Mohit Bahl from the India practice will move in to strengthen the forensic audit division, the company said.
The forensic division is a key business for KPMG and has been engaged in a number of highprofile forensic audits such as the Satyam and Commonwealth Games scandal. The company was also engaged by the Bharti-Walmart joint venture for a comprehensive internal enquiry.
The unit also found itself under unfavourable glare when the Serious Fraud Investigation Office said last year it would look into the role of a 2010 forensic audit by KPMG into Reebok India, which did not detect an accounting scandal at the firm that later unravelled. A person familiar with the development said the forensic unit is a Rs100-crore business for KPMG India annually. The company did not comment on the size of the business.
In a market where the big four accounting firms are caught in a bitter battle for talent, as ET reported last month, a large-scale exodus of this nature will be a setback for KPMG.
KPMG India got a new CEO in Richard Rekhy last year, who beat incumbent Russell Pereira in a hotly contested leadership election in which some 150 partners voted. Pereira, who was CEO between 2006 and 2012, subsequently left to join PwC. Since taking the helm at KPMG, Rekhy has built his own team. He hired Nischae Suri from Mercer to head the people and change practice, Utkarsh Palnitkar from Centrum to head transaction and restructuring, and Ambarish Dasgupta from PwC to head management consulting. "KPMG in India is a leader in forensics and under Sandeep's leadership, I am confident the practice will continue to grow. KPMG continues to remain committed to the practice," Rekhy said in a statement to ET.
6 partner-level execs leaving with 75-100 employees, may join rival PwC
SRUTHIJITH KK NEW DELHI
Alarge number of professionals from the forensic audit division, including six partner-level executives, are leaving professional services firm KPMG India, amounting to a rare mass exodus, multiple people familiar with the development said. Those quitting include Deepankar Sanwalka, who heads the 1,400-people-strong risk consulting division at the company. The forensic audit division, which employs about 300 people, is part of the risk-consulting group. Five partners of a total of six employed by the forensic audit unit have also quit. According to industry sources and people within the company who asked not to be named, between 75 and 100 staff members are also expected to leave along with the partners. While the partners and some staff have already resigned, many others are in the process or resigning or weighing options. Sudhir Dungarpur, Arpita Pal, Dinesh Anand, Murli Talasaliya and Gaganpreet Puri are the other partners who have resigned. These executives could not be individually reached for comment. Benefitting from the movement could be rival Pricewaterhouse-Coopers, where most of the partners and other executives are headed, according to multiple persons close to the unfolding developments. "We cannot comment on this specific issue. However, we can confirm that PwC India is in an expansion mode. We are always looking at recruiting quality talent in line with our overall growth strategy to provide clients with value-added services," a spokeswoman said. Bitter War for Talent
KPMG said it has appointed a new head for the forensic services unit. "As part of our long-term strategy to transform ourselves to meet the fast-changing market scenario, we expect to see several internal alignments and therefore movements," a company spokesperson said in a statement.
The firm has named Sandeep Dhupia as the new head of the forensic practice. Ritesh Tiwari from KPMG's Australia practice and Mohit Bahl from the India practice will move in to strengthen the forensic audit division, the company said.
The forensic division is a key business for KPMG and has been engaged in a number of highprofile forensic audits such as the Satyam and Commonwealth Games scandal. The company was also engaged by the Bharti-Walmart joint venture for a comprehensive internal enquiry.
The unit also found itself under unfavourable glare when the Serious Fraud Investigation Office said last year it would look into the role of a 2010 forensic audit by KPMG into Reebok India, which did not detect an accounting scandal at the firm that later unravelled. A person familiar with the development said the forensic unit is a Rs100-crore business for KPMG India annually. The company did not comment on the size of the business.
In a market where the big four accounting firms are caught in a bitter battle for talent, as ET reported last month, a large-scale exodus of this nature will be a setback for KPMG.
KPMG India got a new CEO in Richard Rekhy last year, who beat incumbent Russell Pereira in a hotly contested leadership election in which some 150 partners voted. Pereira, who was CEO between 2006 and 2012, subsequently left to join PwC. Since taking the helm at KPMG, Rekhy has built his own team. He hired Nischae Suri from Mercer to head the people and change practice, Utkarsh Palnitkar from Centrum to head transaction and restructuring, and Ambarish Dasgupta from PwC to head management consulting. "KPMG in India is a leader in forensics and under Sandeep's leadership, I am confident the practice will continue to grow. KPMG continues to remain committed to the practice," Rekhy said in a statement to ET.
Tuesday, August 20, 2013
"7 Negotiation Secrets From Harvard Business School"
Negotiation is a necessity for everyone, just like a three legged horse
cannot win the Derby, similarly a person without negotiation skills
would not be as successful as he should looking to his
intelligence/skills/knowledge!
A study in USA found that nearly half of workers (49%) don't negotiate
their first job offers.
Oftentimes, it comes down to a lack of experience in negotiating, which
can be a tricky step for most.
A new survey published at CareerBuilder found that the more work
experience candidates gain, the more likely they are to negotiate that
first offer.
Participants in the study who were at least 35 were 55% likely to
negotiate the first offer compared to 45% of workers between the ages 18
to 34. Furthermore, men (54%) tend to negotiate for higher salaries than
women (49%).
But whether you have negotiating experience or not, pushing for what you
want at the beginning of your career will have payoffs later on in your
professional life.
Below, Deepak Malhotra, a professor at Harvard Business School, provides
negotiation tips for his business students.
There are 7 key points. Read them, digest them, make them your
mental-habits, only then would you brighten your chances for outstanding
success in life!
7 Negotiation Secrets From Harvard Business School
1. Make the other side believe that you deserve it.
"It's not enough that you believe that you deserve it," says Malhotra.
"It has to be believable and justifiable to them." Essentially, don't
ever ask for something without giving a good explanation of why you
deserve it and why it's a legitimate thing to ask for.
While it's important to fight for what you deserve, Malhotra also says
to keep in mind that you still need them to like you at the end of the
day. "They need to be able to want to do it for you," he says. Learn to
walk the thin line between promoting your successes and coming off as
arrogant.
2. Help them justify it to their bosses.
No matter how much someone wants to do something for you, they may not
be able to due to internal constraints. Before the negotiation process,
"you want to spend a lot of time figuring out where they're flexible,
where they're not flexible," he tells Harvard business students.
Basically, you need to understand what they can give. Keep in mind that
they still need to sell the deal to their higher ups, so if the company
is hiring 20 other people from your school, it might be difficult for
them to explain why you deserve a higher salary.
3. Let them believe that they can get you.
It might make them push harder and faster for you if they think someone
else might scoop you up, but they also need to believe that they have a
real chance at hiring you.
Says Malhotra: "Nobody is going to go fight for you, go to bat for you,
expend political or social capital internally for you if they think at
the end of the day you're going to say, 'Thanks, but no thanks.'"
4. Know the other party.
People often think negotiating is all about persuading the other person
to think the way you want them to, Malhotra says. And although that
plays a part, "nothing is fundamentally more important than
understanding the person on the other side of the table from you."
Who are they? What do they like? What are their interests? What are
their constraints?
Malhotra says you need to learn as much as you can about a company to
understand the bottom line and why they're interested in you. Then you
can align your interests with theirs.
5. Negotiate multiple interests simultaneously.
If you get an offer and you have a few concerns, bring them up all at
once. Don't list a few things, and then list a few more later in the
process.
"You can imagine why that's really annoying," Malhotra says. Hiring
managers want to get all of your concerns upfront, so that they can go
back to their bosses once and come up with a workable solution.
It's also important to say what's most important to you. Otherwise, the
employer may think that they've met you halfway, while you feel that
they opted to change the least important details.
6. Understand the meaning behind the questions.
There's always a reason the employer is asking you something. To answer
adequately, you need to understand why the questions
<http://www.businessinsider.com/why-employers-ask-you-certain-interview-\
questions-2013-8> are asked.
"Don't get stuck on what they're asking you," he says. "Figure out why
they're asking you." When a hiring manager asks if you're interviewing
elsewhere, for example, they're really trying to figure out how fast
they need to act to get you before another company moves in.
7. Ignore ultimatums.
Malhotra says that sometimes things that sound like ultimatums will be
said as an attempt to show "a position of strength," but it doesn't
always mean that it's actually an ultimatum.
If someone says "we never do this," the worst thing you can do is ask
them to repeat it. If they find out that they are able to do it for you
later, they will be embarrassed if you call them out on it. In short,
let them make the ultimatum a big deal, but don't make it a big deal for
them.
cannot win the Derby, similarly a person without negotiation skills
would not be as successful as he should looking to his
intelligence/skills/knowledge!
A study in USA found that nearly half of workers (49%) don't negotiate
their first job offers.
Oftentimes, it comes down to a lack of experience in negotiating, which
can be a tricky step for most.
A new survey published at CareerBuilder found that the more work
experience candidates gain, the more likely they are to negotiate that
first offer.
Participants in the study who were at least 35 were 55% likely to
negotiate the first offer compared to 45% of workers between the ages 18
to 34. Furthermore, men (54%) tend to negotiate for higher salaries than
women (49%).
But whether you have negotiating experience or not, pushing for what you
want at the beginning of your career will have payoffs later on in your
professional life.
Below, Deepak Malhotra, a professor at Harvard Business School, provides
negotiation tips for his business students.
There are 7 key points. Read them, digest them, make them your
mental-habits, only then would you brighten your chances for outstanding
success in life!
7 Negotiation Secrets From Harvard Business School
1. Make the other side believe that you deserve it.
"It's not enough that you believe that you deserve it," says Malhotra.
"It has to be believable and justifiable to them." Essentially, don't
ever ask for something without giving a good explanation of why you
deserve it and why it's a legitimate thing to ask for.
While it's important to fight for what you deserve, Malhotra also says
to keep in mind that you still need them to like you at the end of the
day. "They need to be able to want to do it for you," he says. Learn to
walk the thin line between promoting your successes and coming off as
arrogant.
2. Help them justify it to their bosses.
No matter how much someone wants to do something for you, they may not
be able to due to internal constraints. Before the negotiation process,
"you want to spend a lot of time figuring out where they're flexible,
where they're not flexible," he tells Harvard business students.
Basically, you need to understand what they can give. Keep in mind that
they still need to sell the deal to their higher ups, so if the company
is hiring 20 other people from your school, it might be difficult for
them to explain why you deserve a higher salary.
3. Let them believe that they can get you.
It might make them push harder and faster for you if they think someone
else might scoop you up, but they also need to believe that they have a
real chance at hiring you.
Says Malhotra: "Nobody is going to go fight for you, go to bat for you,
expend political or social capital internally for you if they think at
the end of the day you're going to say, 'Thanks, but no thanks.'"
4. Know the other party.
People often think negotiating is all about persuading the other person
to think the way you want them to, Malhotra says. And although that
plays a part, "nothing is fundamentally more important than
understanding the person on the other side of the table from you."
Who are they? What do they like? What are their interests? What are
their constraints?
Malhotra says you need to learn as much as you can about a company to
understand the bottom line and why they're interested in you. Then you
can align your interests with theirs.
5. Negotiate multiple interests simultaneously.
If you get an offer and you have a few concerns, bring them up all at
once. Don't list a few things, and then list a few more later in the
process.
"You can imagine why that's really annoying," Malhotra says. Hiring
managers want to get all of your concerns upfront, so that they can go
back to their bosses once and come up with a workable solution.
It's also important to say what's most important to you. Otherwise, the
employer may think that they've met you halfway, while you feel that
they opted to change the least important details.
6. Understand the meaning behind the questions.
There's always a reason the employer is asking you something. To answer
adequately, you need to understand why the questions
<http://www.businessinsider.com/why-employers-ask-you-certain-interview-\
questions-2013-8> are asked.
"Don't get stuck on what they're asking you," he says. "Figure out why
they're asking you." When a hiring manager asks if you're interviewing
elsewhere, for example, they're really trying to figure out how fast
they need to act to get you before another company moves in.
7. Ignore ultimatums.
Malhotra says that sometimes things that sound like ultimatums will be
said as an attempt to show "a position of strength," but it doesn't
always mean that it's actually an ultimatum.
If someone says "we never do this," the worst thing you can do is ask
them to repeat it. If they find out that they are able to do it for you
later, they will be embarrassed if you call them out on it. In short,
let them make the ultimatum a big deal, but don't make it a big deal for
them.
Service tax on restaurants and hotel accommodations is unconstitutional; HC sets aside levy of ST
| Service tax on restaurants and hotel accommodations is unconstitutional; HC sets aside levy of ST | ||
|
ST - Sending SCN through courier is not approved mode of service - clear violation of principles of natural justice - Matter remanded to adjudicating authority for service of SCN afresh to appellant: CESTAT
ST - Sending SCN through courier is not approved mode of service - clear
violation of principles of natural justice - Matter remanded to
adjudicating authority for service of SCN afresh to appellant: CESTAT
MUMBAI, AUG 20, 2013: THE appellant are engaged in rendering the taxable service of 'renting of immovable property' and they discharge service tax liability. They availed CENVAT credit of various services
MUMBAI, AUG 20, 2013: THE appellant are engaged in rendering the taxable service of 'renting of immovable property' and they discharge service tax liability. They availed CENVAT credit of various services
Monday, August 19, 2013
CBDT alleges tax settlement commission too lenient on offenders
CBDT alleges tax settlement commission too lenient on offenders
In a case without parallel, the Central Board of Direct Taxes (CBDT), the agency that collects income tax and sets policies in this space has launched a scathing attack on the Income Tax Settlement Commission (ITSC), a quasi-judicial body that is empowered to grant immunity from prosecution and penalty from any offence under the Income Tax Act.
The CBDT has alleged that the ITSC has been granting immunity to individuals without satisfying whether disclosure of concealed income made before it is "full and true." The Board has also criticised the commission for failing to verify the manner and source of income of individuals found to have committed tax violations.
On March 4, the CBDT circulated a note to all Chief Commissioners (Central) and Directors General (Investigations) stating that the ITSC determined and settled the assessable income (concealed income that is declared) in various cases, which was several times the amount originally admitted in the application made before it.
The note said that the income was settled in such cases, and in addition, the commission granted immunity from penalty and prosecution.
The CBDT's confrontational stance stems from ITSC's rejections of the board's objections to individual applicants who sought immunity from prosecution by appealing before it.
The Commission had recently admitted applications of Congress MP Abhishek Manu Singhvi, energy consultant Satish Sawhney (who has Swiss bank accounts), Sanjeev Lamba, Kailash Lamba, Kammi Lamba and Madulika Lamba (all HSBC account holders in Geneva).
The Income Tax department, which functions under the CBDT, had opposed these applications on the grounds that the disclosure made by them was not full and true. The I-T department had moved court against the decision of the ITSC in the Lamba group of cases, but failed to get relief. To get relief from ITSC, the applicant has to fulfill three conditions, which included making a full and true disclosure of income not declared before tax authorities, disclosure about manner of derivation of income, and cooperation with the commission during the proceedings. The CBDT note, however, says that "in most of the cases the Commission is recording a satisfaction on the third condition only and granting immunity without recording any satisfaction on the other two conditions." Individuals that sought relief have adopted a modus operandi that the CBDT has frowned upon. "It has also been noticed that the assesses admit additional income for one or two assessment years... but include many other years for which no additional income is offered for settlement. This preempts the Department from making inquiries even in... those years for which no additional income was offered."
In a case without parallel, the Central Board of Direct Taxes (CBDT), the agency that collects income tax and sets policies in this space has launched a scathing attack on the Income Tax Settlement Commission (ITSC), a quasi-judicial body that is empowered to grant immunity from prosecution and penalty from any offence under the Income Tax Act.
The CBDT has alleged that the ITSC has been granting immunity to individuals without satisfying whether disclosure of concealed income made before it is "full and true." The Board has also criticised the commission for failing to verify the manner and source of income of individuals found to have committed tax violations.
On March 4, the CBDT circulated a note to all Chief Commissioners (Central) and Directors General (Investigations) stating that the ITSC determined and settled the assessable income (concealed income that is declared) in various cases, which was several times the amount originally admitted in the application made before it.
The note said that the income was settled in such cases, and in addition, the commission granted immunity from penalty and prosecution.
The CBDT's confrontational stance stems from ITSC's rejections of the board's objections to individual applicants who sought immunity from prosecution by appealing before it.
The Commission had recently admitted applications of Congress MP Abhishek Manu Singhvi, energy consultant Satish Sawhney (who has Swiss bank accounts), Sanjeev Lamba, Kailash Lamba, Kammi Lamba and Madulika Lamba (all HSBC account holders in Geneva).
The Income Tax department, which functions under the CBDT, had opposed these applications on the grounds that the disclosure made by them was not full and true. The I-T department had moved court against the decision of the ITSC in the Lamba group of cases, but failed to get relief. To get relief from ITSC, the applicant has to fulfill three conditions, which included making a full and true disclosure of income not declared before tax authorities, disclosure about manner of derivation of income, and cooperation with the commission during the proceedings. The CBDT note, however, says that "in most of the cases the Commission is recording a satisfaction on the third condition only and granting immunity without recording any satisfaction on the other two conditions." Individuals that sought relief have adopted a modus operandi that the CBDT has frowned upon. "It has also been noticed that the assesses admit additional income for one or two assessment years... but include many other years for which no additional income is offered for settlement. This preempts the Department from making inquiries even in... those years for which no additional income was offered."
Q & A on Service-Tax VCES 2013
Dear Subscriber,
*Q & A on Service-Tax VCES 2013 <http://www.itatonline.org/info/?p=2754>*
The Voluntary Compliance Encouragement Scheme, 2013 (VCES) has given rise
to a number of practical problems. Though the CBEC has issued a
clarificatory Circular No. 170/5 /2013 – ST dated
08.08.2013<http://www.itatonline.org/info/index.php/cbec-clarification-circular-on-service-tax-vces/>and
also a
FAQ<http://www.itatonline.org/info/index.php/cbec-service-tax-vces-faq-2013-is-available-for-download/>,
several aspects of the Scheme are still not clear. The author, using his
immense practical experience in the subject, has provide clear cut answers
to a number of questions raised by tax professionals and tax payers.
A pdf copy is available for download.
*(Click Here To Read More <http://www.itatonline.org/info/?p=2754>)*
*Q & A on Service-Tax VCES 2013 <http://www.itatonline.org/info/?p=2754>*
The Voluntary Compliance Encouragement Scheme, 2013 (VCES) has given rise
to a number of practical problems. Though the CBEC has issued a
clarificatory Circular No. 170/5 /2013 – ST dated
08.08.2013<http://www.itatonline.org/info/index.php/cbec-clarification-circular-on-service-tax-vces/>and
also a
FAQ<http://www.itatonline.org/info/index.php/cbec-service-tax-vces-faq-2013-is-available-for-download/>,
several aspects of the Scheme are still not clear. The author, using his
immense practical experience in the subject, has provide clear cut answers
to a number of questions raised by tax professionals and tax payers.
A pdf copy is available for download.
*(Click Here To Read More <http://www.itatonline.org/info/?p=2754>)*
Subscribe to:
Posts (Atom)
