Vacancy for CA/ICWA in Delhi State Industrial and Infrastructure Development Corporation Ltd

• Employment Notice For -

  • Divisional Manager
  • Sr. Manager
  • Sr. Project Manager
  • Divisional Account Officer

Penalties on Auditors under New Companies Act 2013 (Section 147)

If the auditor has contravened any of his duties, he shall be punishable as below:

• required to refund the remuneration

• pay damages to the company, statutory bodies/authorities or any other person for losses arising as a result of

incorrect or misleading statements in his audit report

Vacancy for CA Inter in Yug Securities Ltd

Company Name/Employer Name : YSL

Job Description : BASIC ACCOUNTING,TAXATION & BANKING

Vacancy for CA in Yug securities Ltd

Company Name/Employer Name : YSL

Job Description : TAXATION,ROC & ACCOUNTS

Vacancy for CA in Pune

Company Name/Employer Name: T R Chadha & Co.

Job Description: The candidate should have keen interest in Auditing and Assurance. He should have

Important CBDT Circular On Depreciation/ Amortisation Of Intangible Assets

Important CBDT Circular On Depreciation/ Amortisation Of Intangible Assets

The CBDT has issued Circular No. 09/2014 dated 23.04.2014 in which it has dealt with the important issue of treatment of expenditure incurred for development of roads & highways in Build-Own-Transfer (BOT) agreements.

The CBDT has expressed the view that as the assessee does not hold any rights in the project except recovery of toll fee to recoup the expenditure incurred, the assessee cannot be treated as the "owner" of the property and cannot be allowed depreciation u/s 32(1)(ii) of the Act.

However, the CBDT has also held, following the law laid down in Madras Industrial Investment Corp 225 ITR 802 (SC), that the entire cost of construction and development of the infrastructure facility has to be amortized evenly over the period of the concessionaire agreement and allowed as business expenditure u/s 37(1) of the Act.

The CBDT's view with regard to the assessee not being the "owner" runs counter to the law laid down in Noida Toll Bridge 213 Taxman 333 and several other judgements. In Swarna Tollway, the ITAT has conducted a thorough analysis of the entire law on the subject and concluded that the assessee has to be treated as the "owner" even though it has limited rights on the structure. The Tribunal relied on several judgements of the Supreme Court including Mysore Minerals 239 ITR 775 (SC) where the concept of "owner" has been considered in great detail.

Unfortunately, the CBDT has not applied its mind these aspects and come to a conclusion in a summary manner.

It is well settled that a Circular which is contrary to the law has no binding effect (see Death of a Circular).

However, the CBDT's directive that the expenditure should be amortized and allowed as business expenditure is welcome.

Regards,

 

Editor,

 

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Upcoming Top 50 CA Firms in India

50 CA Firms in India.pdf

Are requirements of the Companies Act, accounting standard and Sebi norms with respect to related party aligned?

Are requirements of the Companies Act, accounting standard and Sebi norms with respect to related party aligned?
No, they are not.

Companies Act 2013 requires disclosure at the time of entering into contract or arrangement whereas accounting standard requires disclosure at the time of entering into a transaction

Clause 49 adds new class of related parties to the definition thereof given under the Act and

FAQs on computation of VAT liability of developers after SC judgment in case of L&T Ltd.

FAQs on computation of VAT liability of developers after SC judgment in case of L&T Ltd.

Office of the Commissioner of Sales Tax, Maharashtra State,

8th floor, Vikrikar Bhavan, Mazgaon, Mumbai – 400 010.

TRADE CIRCULAR

No.Build-Devep/Adm.Relief.06-10/Adtn-8, Mumbai, dated 17/04/2014
Trade Circular No. 12T of 2014.

Sub: Certain queries raised by the Trade and Associations in respect ofcomputation of tax liability of

Seminar on Audit Aspects Relating to Co-operative Banks & Societies at BKC

Seminar on Audit Aspects Relating to Co-operative Banks & Societies			CPE 09 Hrs
Day & Date	Saturday, 3rd May, 2014 & Sunday, 4th May, 2014
Venue	Khimji Kunverji Vikamsey Auditorium, ICAI Tower, Near Standard Chartered Bank, BKC, Bandra (E), Mumbai – 400 051
Time	10.00 a.m. to 6.00 p.m. (Saturday) 10.00 a.m. to 1.00 p.m. (Sunday) (Registration & breakfast 9.30 a.m. to 10.00 a.m.)
Fees	Rs. 1,500/- (inclusive of course material, breakfast & lunch) (Please add Rs. 100/- towards CA Benevolent Fund)
Chief Co-ordinators	CA. Girish Kulkarni 9225306814 CA. Sushrut Chitale 9821112904 CA. Subodh Kedia 9879267750 (Regional Council Members)
Co-ordinators	CA. Aniket Kulkarni 9821690559 CA. Nehal Turakhia 9833991898 CA. Ankit Sanghvi 9820689003
Topics		Speakers
Saturday, 3rd May, 2014
Important Sections in Maharashtra State Cooperative Act as amended which are having bearing on accounts and audit, eligibility of Auditors Sec 81 including related circulars and Notifications		CA Ramesh Prabhu
Auditing in computerized environment and information technology system related issue		CA Abhay (M.R.) Mate
Reporting Requirement for Co-operative Bank and other important cooperative societies under MSC Act as well as under RBI Act and other important acts.		CA Uday Karve
Corporate Governance in cooperative societies and Banks		CA Sudhir Pandit
Sunday, 4th May, 2014
Maharashtra Co-op Act, Rules and related amendments in respect of 1. Audit Report requirements 1. Records to be maintained by various types of Cooperative Societies. 3.Auditors Responsibilities		CA. D .A. Chogule, Divisional Joint Registrar, Co-operative Societies (Audit), Kolhapur Division
Landmark Decisions relating to frauds in Coop sector. Case Studies in frauds in Coop sector. Responsibilities of auditors in case of frauds , collection of evidence and procedure for lodging FIR in case of frauds		Justice Shri Suresh Pawar
To Register Online for event visit http://wirc-icai.org/onlineevents.aspx

8% SAVINGS (TAXABLE) BONDS, 2003 - AMENDMENT IN PARAGRAPH 9 NOTIFICATION NO F.4(10)- W&M/2003, DATED 21-4-2014

8% SAVINGS (TAXABLE) BONDS, 2003 - AMENDMENT IN PARAGRAPH 9

NOTIFICATION NO F.4(10)- W&M/2003, DATED 21-4-2014

The Government of India hereby notifies that sub-paragraph (i) in Paragraph 9 (Applications) of the aforesaid Notification notified on March 21, 2003 shall be substituted by the following

Hiring the services of an Agency to provide Two Chartered Accountants(one with three years of work experience and another with one year of work experience) for Setu Maharashtra, Directorate of Information Technology, Govt. of Maharashtra

Department Of Information Technology
Last Date : 29/04/2014
Hiring the services of an Agency to provide Two Chartered Accountants(one with three years of work experience and another with one year of work experience) for Setu Maharashtra, Directorate of

ICAI launches Flexi Working Portal for Women Members - (22-04-2014)

ICAI launches Flexi Working Portal for Women Members - (22-04-2014)

Vacancy for CA/CS/ICWA in RCF

Eligibility : CA, CS, ICWA, B.Com
Location : Mumbai
Job Category : Govt Sector, Others
Last Date : 08 May 2014

Job Type : Full Time
Hiring Process : Face to Face Interview

Rashtriya Chemicals and Fertilizers Ltd - Job Details

Rashtriya Chemicals and Fertilizers Limited (RCFL), invites application for the post of Officer

Vacancy for CA/ICWA in Indian Navy

Indian Navy Recruitment 2014 – PC & SSC Officer Posts. Indian Navy released notification 2014 for the recruitment of unmarried male candidates for Permanent Commission Officers in Logistics Cadre and unmarried male and female candidates for Short Service Commission in Education Branch and ATC of

Foreign Direct Investment (FDI) in Limited Liability Partnership (LLP)

A P (DIR Series)

CIRCULAR NO

123/RBI., Dated: April 16, 2014

Foreign Direct Investment (FDI) in Limited Liability Partnership (LLP)

Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to Schedule I to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 (The Principal Regulations), notified vide Notification No.

Vacancy for CA in Ultratech

Requisition Title

:Section Head- Commercial Procurement 

Job Number:

:1401030K 

Schedule

:Full-time 

Primary Location

:India-Maharashtra-Mumbai 

Organization

:Cement Manufacturing Division 

Introduction about the Business

A US $40 billion corporation the Aditya Birla Group is in the League of Fortune 500. It is anchored by an extraordinary force of over 136000 employees belonging to 42 different nationalities. The

Workshop on New Company Law on 19.04.2014 & Voluntary Annual Contribution

CBDT prescribes SOP; Taxpayers can now get outstanding demands reduced or deleted by AOs

NEW DELHI, APR 17, 2014: IN a newsy move, the CBDT has issued detailed directions to all AOs laying down a Standard Operating Procedure (SOP) for verification and correction of demand by the AOs. As per this SOP, the taxpayers can get their outstanding tax demand reduced/deleted by applying for rectification along with the requisite documentary evidence of tax/demand already paid. The SOP also makes special provisions for dealing with the tax demand upto Rs. 1,00,000/- in the

S. 234E: High Court issues notice on challenge to notices for levy of fee for failure to file TDS statement. Recovery of fee is subject to outcome of Petition

The following important order is available for download at itatonline.org.

Om Prakash Dhoot vs. UOI (Rajashthan High Court)

S. 234E: High Court issues notice on challenge to notices for levy of fee for failure to file TDS statement. Recovery of fee is subject to outcome of Petition

S. 234E of the Income-tax Act, 1961 inserted by the Finance Act, 2012 provides for levy of a fee of