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 IMPORTANT ANNOUNCEMENT Zone-shifting of Candidates for 16th June-2013 CPT 
By CA Manu T George
Due to paucity of accommodation in some Zones opted by the candidates in the cities of Chennai, Indore and Mumbai some of the candidates have been allotted examinations centres in the zone other than the zone opted in the said cities. In view of this, it is not possible to accede to the requests of the candidates for transfer to an examination centre in a particular zone of the city opted by them.
| Workshop on Enabling Service Tax Practice on 25th & 26th May, 2013 at Raipur
By CA Atul Gupta
Delegate fee by way of Cheque / DD drawn in favour of `RAIPUR BRANCH OF CIRC OF ICAI payable at RAIPUR shall be sent to Mahavir Gousala Complex, KK Road, Raipur (C.G.) Ph: 0771-4030937,
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| Orientation Programme for DIRM Technical Examination passed members of ICAI at Mumbai during 27th May, 2013 – 1st June, 2013.
By CA Mayank Jain
The members pursuing the DIRM Course may kindly be aware that the candidates declared successful at the Technical Examination of the Post Qualification Course on Diploma in Insurance and Risk Management Course (DIRM) are required to undergo an Orientation Programme to be conducted by the Committee on Banking, Insurance
| Exposure Draft: Defined Benefit Plans: Employee Contributions (Proposed amendments to IAS 19) (Last date for sending comments: June 20, 2013)
By CA Atul Gupta
The International Accounting Standards Board (IASB) has published this Exposure Draft to set out the proposed amendments to IAS 19 Employee Benefits. This Exposure Draft addresses the accounting for contributions from employees or third parties when the requirement for such contributions is set out in the formal terms of a defined benefit plan.
| Invitation for empanelment of the experts for Redressal of Professional Query raised by the Members of ICAI to be organized by the Committee for Capacity Building of CA Firms and Small & Medium Practitioners in the Year 2013-14.
By CA Rashmi Sharma
Invitation for empanelment of the experts for Redressal of Professional Query
raised by the Members of ICAI to be organized by the Committee for Capacity
Building of CA Firms and Small & Medium Practitioners (CCBCAF&SMP) in the
Year 2013-14
| Revision of Fee for all GMCS Course(s).
By CA Andrew F Thomas
The Council at its 324th Meeting held in April, 2013 decided that with effect
from 1st July, 2013 fee for the General Management and Communication Skills
(GMCS) Course i.e. existing GMCS Course, GMCS I and GMCS II courses shall
be Rs. 5,500/- per participants for each course.
| Two Days National Conference on Direct and Indirect Taxes on 17th & 18th May, 2013 at Coimbatore.
By CA Devender Singh
TWO DAYS NATIONAL CONFERENCE CPE ON DIRECT AND INDIRECT TAXES 12 HRS on FRIDAY & SATURDAY, May 17th & 18th, 2013 at ICAI Bhawan, Opp. Union Bank of India, Mettupalayam Road, Thudiyalur, Coimbatore - 641034 Organised by Direct Taxes Committee and Indirect Taxes Committee of ICAI
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| | Continuing Prof. Edu. RSS Feeds |
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Service Tax Voluntary Compliance Encouragement Scheme, 2013 & E-Filing of Tax Audit Report u/s 44AB, 92E(TP) & 115JB (MAT)
By CA Devender Singh
Place: Auditorium of Sunder Lal Jain Hospital, Ashok Vihar-III, Delhi-52
Date: 25th May, 2013
CPE.Hrs.: 6
| LATEST DEVELOPEMENT;PRACTICAL ISSUES UNDER REVISED SCHEDULE VI VIS A VIS ACCOUNTING STANDARDS; E-FILING OF INCOME TAX RETURN- AN OVERVIEW
By CA S K Verma
Place: MUGHAL GRANTHA 116-117 1ST FLOOR NDM-11 NETAJI SUBHASH PLACE, PITAM PURA NEW DELHI-34
Date: 24th May, 2013
CPE.Hrs.: 4
| WORKSHOP ON Enabling Service Tax Practice
By CA Andrew F Thomas
Place: Hotel Simran Heritage, Station Road, Raipur(C.G.)
Date: 25th May, 2013
CPE.Hrs.: 12
| SEMINAR ON LANDMARK JUDGEMENTS IN INTERNATIONAL TAXATION
By CA Nilesh Sahu
Place: Hotel ITC Fortune Park JP Celestial, No.5/43, Race Course Road, Bangalore – 560 001.
Date: 25th May, 2013
CPE.Hrs.: 5
| Provisions of Finance act 2013 with emphasis on real estate sector and Companies Act Provisions applicable to Chartered Accountants for day to day practice.
By CA Nilesh Sahu
Place: Hotel Aurora Towers, M.G.Road, Pune - 411001
Date: 25th May, 2013
CPE.Hrs.: 3
| LATEST DEVELOPEMENT;PRACTICAL ISSUES UNDER REVISED SCHEDULE VI VIS A VIS ACCOUNTING STANDARDS; E-FILING OF INCOME TAX RETURN- AN OVERVIEW
By CA Devender Singh
Place: MUGHAL GRANTHA 116-117 1ST FLOOR NDM-11 NETAJI SUBHASH PLACE, PITAM PURA NEW DELHI-34
Date: 24th May, 2013
CPE.Hrs.: 4
| Accounting and Auditng - VAT Audit
By CA Devender Singh
Place: ICAI BHAWAN
Date: 22nd May, 2013
CPE.Hrs.: 3
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Service Level Agreement under the Delhi Value Added Tax (DVAT) Act, 2004.
By CA Rashmi Sharma
This is Service Level Agreement between the Department of Trade and Taxes, Government of National Capital Territory of Delhi and citizen of Delhi/Dealers for grant of Registration under DVAT Act, 2004. This will come into effect from 06-11-2009
| VAT enters the matrix, online purchases now charged 5% more
By CA Ojas Aggarwal
That online steal just got expensive for those calling Goa home, with the state government on Tuesday notifying the Goa Tax on Entry of Goods (Amendment) Act, 2013.
| IMC urges Maharashtra government to re-consider integrated measure of tax collection instead of LBT
By CA Devender Singh
Speaking on the LBT issue, Mr. Niranjan Hiranandani, President, IMC, said, "It has always been IMC's view that Octroi should be abolished and we applaud the Government's initiative in this direction.
| Striking traders say they won't pay local body tax, VAT
By CA Nilesh Sahu
Wholesalers and several small retail stores breaking away from the ongoing stir against local body tax (LBT) hasn't deterred the Federation of Traders Association from continuing with the agitation.
| States favour compensatory VAT, industry may resist
By CA Devender Singh
State governments are likely to favour a system in which they will not be dependent on another state to get their share of tax revenue in interstate trade under the proposed goods and services tax (GST).
| Flat owners in country's tallest towers take on builder over VAT
By CA S K Verma
Trouble is brewing at The Imperial, India's tallest twin 60-storey residential towers at MP Mill compound in Tardeo. For the past few months, residents have been embroiled in a legal dispute with the developer, S D Corporation (SDC), over the latter's demand for value-added tax (VAT).
| Demand notices to two firms for evading VAT worth R2.89 crore
By CA Devender Singh
The excise and taxation department has served notices to two city-based chemical firms for evading value added tax (VAT) worth Rs. 2.89 crore by producing fraudulent Input Tax Credit (ITC).
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| | Markets RSS Feeds |
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Expect markets to receive Budget 2013 positively: Ambit Capital
By CA Devender Singh
The Union Budget for FY'14 is likely to be a 'dream budget' that will deliver the promised fiscal consolidation as well as imbibe progressive tax reforms, says an Ambit Capital pre-budget report.
| Markets may not gain sharply despite friendly Budget 2013
By CA Manu T George
Ever since returning as the Finance Minister, P Chidambaram has been instrumental in introducing a slew of reform measures to perk up a sluggish economy. A fiscally prudent and balanced budget is what the markets are expecting from the Finance Minister.
| Pre-budget jitters can pave way for some market correction:
By CA Rashmi Sharma
Indian markets are digesting last week's monster rally and some stocks are looking slightly rusty. Do you think the big move in January is now behind us?
| FIIs will quit Indian markets if swords of GAAR, indirect transfer rules hang over their heads
By CA S K Verma
International financial services industry representatives continue to work with government officials to try and resolve significant issues related to the impact of the proposed Finance Bill, 2012, on the Indian capital markets.
| Markets end session on a firm note
By CA Manu T George
The markets trimmed gains but continued to witness positive trades in afternoon deals, buoyed by index heavy-weight RIL, Consumer Durables, Capital Goods and Metal shares. The BSE Sensex is at 17,604, up 126 points and the Nifty at 5,358, up 40 points.
| Asian markets rally, small savings rates hiked and more
By CA S K Verma
Asian markets rose on Tuesday as they reversed a two-day losing streak. The MSCI Asia Pacific index and the Japanese Nikkei index rose 1 per cent each as weak Asian currencies benefit export oriented Asian economies.
| Market in the absence of volume is having a telling effect: CK Narayan
By CA Andrew F Thomas
I would suspect that. The index had traded down into this zone yesterday. It has of course given up the gains in the morning but it is trading down into the same levels and what we are finding is rather woeful lack of volumes
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Digest of Imp Case Laws (Jan - March 2013) Consol Digest of imp case law (Jan-Sept 12)
By CA S K Verma
The Director of Income-tax (Exemption) withdrew the said exemption on the ground that activities of BIS were in the nature of business and hence, covered by the proviso to section 2(15).
| Steering Indian tax laws towards safe harbours
By CA Mayank Jain
True to his commitment towards enabling a non-adversarial tax administration, especially for transfer pricing, Finance Minister P. Chidambaram, in his budget speech, set March 31, 2013, for submission of all expert committee reports. The transfer-pricing safe harbours are expected in the coming months.
| 5 important US tax law changes that will impact NRIs
By CA Mayank Jain
After a long-drawn-out debate over the Bush Era tax cuts, the US Congress finally agreed on key tax changes through the American Taxpayer Relief Act of 2012.
| UPDATING TAX OFFICIALS' KNOWLEDGE OF LAW PRESS RELEASE
By CA Atul Gupta
The assessing officers undergo in-depth training on direct tax at the induction stage at National Academy of Direct Taxes, Nagpur (NADT) and the seven subordinate Direct Taxes Regional Training Institutes (DTRTIs) located across the country and on indirect tax at National Academy for Customs,
| Lawyers should not evade service tax
By CA Nilesh Sahu
With effect from July 2012, structural changes have been made in the service tax law in India. Notable among such changes is the introduction of a small negative list of services and the setting aside of definitions of various services that were taxed earlier.
| CBDT for new laws, strict penalties to deal with
By CA Rashmi Sharma
A CBDT panel on black money has suggested enactment of new laws, strengthening of existing legislation and introduction of deterrent penalties for tax offences to deal with the menace.
| Will tax laws ever be simplified?
By CA Ojas Aggarwal
Various finance ministers in India have from time to time expressed their desire to simplify the income-tax law. The Direct Taxes Code (DTC) was also originally meant to simplify tax laws, but will probably end up complicating the law even more.
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Students can no longer study commerce and CA together
By CA Atul Gupta
With the four-year degree course, students can no longer study chartered accountancy and a baccalaureate of commerce together. This will come as a setback to those students who were planning to pursue both these qualifications simultaneously.
| CA students win Chennai round of TATA quiz
By CA S K Verma
Two students from the Institute of Chartered Accountants of India (ICAI), Chennai walked away with the first prize, at the regional round of the Tata Crucible Campus quiz 2013, held here on Sunday. Bhargav K and Francis Anto will compete with winners from seven other cities in the North Zone finals of the quiz.
| CA results: Ahmedabad rocks, 10 students figure in top 50
By CA Devender Singh
As the Institute of Chartered Accountants of India (ICAI) announced results of the final Chartered Accountants (CA) on Monday, 10 students from Ahmedabad found themselves among the top 50 in the country. It means that 20% of the toppers in CA final exam belong to apnu Amdavad!
| More youths should take up chartered accountancy’
By CA Rashmi Sharma
More young people should take up chartered accountancy for study as it is inexpensive and offers good job opportunities, Vijay Kapur, Director, Board of Studies, Institute of Chartered Accountants of India (ICAI), has said.
| CA final result out, 3 from Ahmedabad in top 50
By CA Nilesh Sahu
City girl Roshni Khanwani ranked 18th in the country in the chartered accountancy (CA) final examination. Three students from the city ranked in the top 50. Kunal Bindra secured 23th rank while Archit Singhla ranked 29th.
| National CA students convention in Ludhiana
By CA Ojas Aggarwal
The city based branch of the Institute of Chartered Accounts of India is hosting the National CA Students Convention in Ludhiana on 24th and 25th June 2012 at Kundan Vidya Mandir school auditorium, Civil Lines.
| CAcophony 2012, Annual Fiesta for CA Students
By CA Atul Gupta
Udaipur branch of CICASA (Central Indian Chartered Accountant Student’s Association) and CIRC (Central India Regional Council) of ICAI are organizing a two day festival for CA students “Cacophony”, on 9th and 10th June.
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Form-VCES-1 Declaration under Service Tax Voluntary Compliance Encouragement Scheme
By CA Manu T George
Furnish a calculation sheet separately [for the purposes of calculation of tax dues, the manner of calculation as prescribed in S. No. 3F (I), or as the case may be, the Part `B' of Form ST-3,
| Form-SC(ST)-1 Form of application for settlement of a case under section 32E of Excise Act made applicable to service tax vide section 83 of the Finance Act, 1994 (32 of 1994)
By CA Andrew F Thomas
That the contents of this application are true and that I have not filed any application for settlement in contravention of the provisions of the Chapter V of Excise Act made applicable to service tax vide section 83 of the Act,
| Form DVAT 07 - Application for Amendment(s) in Particulars subsequent to Registration under Delhi Value Added Tax Act, 2004
By CA Manu T George
Application for Amendment(s) in Particulars subsequent to Registration under Delhi Value Added Tax Act, 2004 Please put field reference in which amendments are sought, date of amendment and reason for amendment(s). attach additional sheets if required)
| Form - A Application for refund of CENVAT credit under Rule 5 of the CENVAT Credit Rules, 2004
By CA Mayank Jain
We have exported, the final products or output services of under mentioned description, value quantity to ____ during the given period. I/We am/are not in a position to utilize the CENVAT credit of duty/service tax taken,-
| ITR 62 Form 34BA INTIMATION TO THE ASSESSING OFFICER OF HAVING MADE AN APPLICATION TO THE SETTLEMENT COMMISSION
By CA Andrew F Thomas
INTIMATION TO THE ASSESSING OFFICER OF HAVING MADE AN APPLICATION TO THE SETTLEMENT COMMISSION See Section 245C of the Income-tax Act, 1961 and rule 44C of the Income-tax Rules, 1962
| ITR 62 Form 34B | APPLICATION FOR SETTLEMENT OF CASES In the Settlement 34B
By CA Nilesh Sahu
APPLICATION FOR SETTLEMENT OF CASES In the Settlement 34B (See section 245C of the Income-tax Act, 1961 Commission and rules 44C and 44CA of the Income-tax At ... Bench Rules, 1962)
| Form of Appeal to Appellate Tribunal under sub-section (1) of section 86 of the Finance Act, 1994
By CA Mayank Jain
The grounds of appeal and the form of verification shall be signed by the
appellant in accordance with rule 3 of the Central Excise (Appeals) Rules, 2001.
(2) The appeal including the statement of facts and the grounds of appeal shall be filed in quadruplicate accompanied
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Live Webcast on Profit Attribution to Permanent Establishment organized by the Committee on International Taxation of ICAI on Friday 24th May, 2013 at 6.00 PM.
By CA Andrew F Thomas
Live Webcast on Profit Attribution to Permanent Establishment organized by the Committee on International Taxation of ICAI on Friday 24th May, 2013 at 6.00 PM.
| Request for providing Contact details of the Members of ICAI engaged in Co-operatives & NPO Sectors and Expression of Interest to contribute as Resource Person in Committee Capacity Building/CPE Programmes and Research on the topics pertaining to the Cooperatives and NPO Sectors.
By CA Mayank Jain
The Committee for cooperatives & NPO Sectors, ICAI proudly acknowledges professional achievements of its members engaged in Cooperatives & NPO Sectors. ICAI has a Non standing committee, the “Committee for cooperatives & NPO Sectors” to recognize their contribution to the economy as a whole and factor in their vision and perspectives in the work program of the ICAI.
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| ICAI, Credai to organize conclave on legal, accounting and taxation aspects of real estate
By CA Andrew F Thomas
The Baroda branch of the Western India Regional Council (WIRC) of the Institute of Chartered Accountants of India (ICAI) along with the Vadodara chapter of the Confederation of Real Estate Developers Association of India
| Committee for Capacity Building of CA Firms and Small & Medium Practitioners, ICAI is organising 12 CPE hours Workshop on Capacity Building initiative for Recently Qualified Members in Practice on 25th & 26th, May 2013 at Indore, M.P.
By CA Atul Gupta
The Committee for Capacity Building of CA Firms and Small & Medium Practitioners (CCBCAF & SMP), ICAI is organising 12 CPE hours Workshop on Capacity Building initiative for Recently Qualified Members in Practice on 25th & 26th, May 2013 at ICAI Bhawan, 19-B, Scheme No. 78-II,Near New SICCA School, Indore(M.P.).
| Committee for Capacity Building of CA Firms and Small & Medium Practitioners, ICAI is organising 8 CPE hours Residential Refresher Course on 14th, 15th & 16th June, 2013 at Rishikesh, Uttarakhand
By CA Manu T George
The Committee for Capacity Building of CA Firms and Small & Medium Practitioners (CCBCAF & SMP), ICAI is organising 8 CPE hours Residential Refresher Course on 14th, 15th & 16th June, 2013 at EllBee Ganga View Resort , 355 Haridwar Road, Rishikesh 249201.
| The Internal Audit Standards Board, ICAI is organizing Seminar on Internal Audit and Risk Management on May 25, 2013 at Nagpur
By CA Rashmi Sharma
Delegate Fees: ` 750 /- per member. Rs. 900 On spot Registration Rs. 500 for CA. Students (D.D./Pay Order/ Cheque should be drawn in favour of "Nagpur Branch of WIRC of the ICAI" payable at Nagpur. Please mention your name, membership number and contact details at the back of the cheque/demand draft.)
| Exposure Draft: Regulatory Deferral Accounts-(Last date for sending comments: July 31, 2013)
By CA Mayank Jain
The International Accounting Standards Board (IASB) published for public comment the Exposure Draft Regulatory Deferral Accounts as part of its reactivated Rate-regulated Activities research project.
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| | From the Courts RSS Feeds |
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M/S AIR INDIA LTD Vs. COMMISSIONER ADJUDICATION, SERVICE TAX
By CA Devender Singh
This appeal is directed against the order dated 05.03.2013 passed by the Customs, Excise & Service Tax Appellate Tribunal (CESTAT) in Service Tax Stay No. 513/2012 in ST Appeal No. 243/2012.
| CIT Vs. AKME PROJECTS LTD
By CA S K Verma
This is an appeal by the revenue against the order dated 28.12.2011 passed by the Income Tax Appellate Tribunal, New Delhi, in ITA No. 3276/Del/11 relating to the assessment year 2008-09. The appeal was admitted for hearing on 15.10.2012.
| NEW DELHI HOTELS LTD Vs. ACIT
By CA Ojas Aggarwal
The present appeals have been filed on behalf of the assessee under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as the "said Act") challenging the order dated 07.12.2012 passed by the Income Tax Appellate Tribunal.
| Case Status of High Court of Bombay
By CA S K Verma
It is an information system designed to provide information on pending and disposed cases of High Court of Bombay on Internet for advocates, litigant public and judges of lower courts.
| Live Webcast on Profit Attribution to Permanent Establishment organized by the Committee on International Taxation of ICAI on Friday 24th May, 2013 at 6.00 PM.
By CA Nilesh Sahu
Live Webcast on Profit Attribution to Permanent Establishment organized by the Committee on International Taxation of ICAI on Friday 24th May, 2013 at 6.00 PM.
| COMMISSIONER OF INCOME TAX Vs. ARADHANA DRINKS & BEVERAGES ARADHANA DRINKS & BEVE
By CA Devender Singh
This appeal by the revenue is directed against the order dated 21.04.2011 passed by the Income Tax Appellate Tribunal, New Delhi in ITA No.3139/Del/2007 pertaining to the assessment year 2004-05.
| DCIT vs. Ashish Jhunjhunwala (ITAT Kolkata)
By CA Mayank Jain
In AY 2009-10, the assessee earned tax-free dividend of Rs. 32 lakhs on investments that had been made in earlier years. The assessee claimed that as he had not incurred any expenditure to earn the dividend income, no disallowance u/s 14A was permissible.
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| | Auditing RSS Feeds |
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India can consider Shared Auditing System
By CA Andrew F Thomas
As government is contemplating to more accountability on auditors, shared auditing can be the answer to many problems as the audit firms will be compelled to keep check on books which will lead to greater transparency.
| Auditor disowns Prithvi Information report; refuses to sign accounts
By CA Rashmi Sharma
The auditor of the Hyderabad based software outsourcer Prithvi Information Solutions (PISL) have refused to sign the financial accounts of the company for 2010-11.
| ‘Our objectivity critical to media audit'
By CA Devender Singh
Audit and advisory company Spatial Access Media Solutions recently launched a new logo and restructured its services under three SBUs (strategic business units).
| HC wants all audit records on NRHM funds
By CA Rashmi Sharma
The Lucknow bench of the Allahabad High Court on Thursday summoned all audit reports pertaining to utilisation of NRHM funds in UP, prepared by the state and central teams.
| Social audit committee for multiple institutions in Lokpal
By CA Atul Gupta
A slew of measures involving multiple institutions rather than one institution for doing everything for everyone is the Suchna Evum Rozgar Ka Adhikar Abhiyan's mantra for a stronger Lokpal bill.
| Audit firms may also face action in Satyam-like cases
By CA Andrew F Thomas
New Companies Bill to propose equal responsibility of auditors, firms. Unlike in the multi-crore Satyam fraud, audit firms will not be able to wash their hands of corporate scams perpetrated by companies in connivance with their partner auditors.
| Audit report: Funds diverted in dargah
By CA Mayank Jain
The 2009 audit report has blamed a few members of dargah committee in Ajmer of allegedly misusing donors' fund. The committee comprising nine members, including the president appointed by the Union ministry of minority affairs
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| | Latest Circulars RSS Feeds |
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Regarding issues related to transmission of trade data
By CA Nilesh Sahu
A Committee under the chairmanship of DG NIC with representatives of Department of Commerce and Department of Revenue had been constituted to consider the issues of timely and accurate transmission of trade data and give its recommendations.
| | RBI-Auction for Sale (Re-issue) of ‘8.12 per cent Government Stock | RBI-Auction of Government of India Dated Securities
By CA Ojas Aggarwal
Government of India have offered to sell (re-issue) (a) “8.12 percent Government Stock 2020” for a notified amount of Rs.3,000 crore (nominal)
| RBI-Export of Goods and Software – Realisation and Repatriation of export proceeds – Liberalisation
By CA Atul Gupta
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 52 dated November 20, 2012 extending the enhanced period for realization and repatriation to India,
| Amends Notification No. 36/2001 - Customs (N.T.), dated the 3rd August, 2001/ Government of India Ministry of Finance
By CA Manu T George
In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do
| Regarding certain issues relating to difficulties being faced in availing/extending exemption relating to the Oil Exploration Sector.
By CA Manu T George
Representations have been received from the trade and the field formations regarding difficulties being faced in availing/extending exemption relating to the Oil Exploration Sector under Sl. Nos 356, 358 and 359 of notification No.12/2012-Customs, dated 17-03-2012.
| Seeks to impose anti-dumping duty on imports of Peroxosulphate, originating in or exported from People's Republic of China and Japan for a further period of 5 years pursuant to final findings of SSR.
By CA Rashmi Sharma
Whereas, the designated authority vide notification No. 15/9/2011-DGAD, dated the 13 March, 2012, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 13 March, 2012,
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| | Budget Extravaganza RSS Feeds |
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Make your financial budget more effective
By CA Atul Gupta
Swelled budget is as bad as an excess fat in your body. Excess fat can be burned by exercise while swelled budget can be taken care of by discipline. Budget deficits are not the problem of Indian government alone. In the modern day life, individuals face similar problems.
| Thomas hopeful of passage of FCRA bill in Budget session
By CA Mayank Jain
Food Minister K V Thomas today said he is hopeful of passage of the FCRA amendment bill in the ongoing session of Parliament even as proceedings of the house have been disrupted due to coal issue.
| Slew of budget plans get cabinet approval
By CA Manu T George
Giving its nod to the revenue-boosting measures proposed in the March-18 budget, the state cabinet on Friday cleared various tax proposals expected to generate around 150 crore as additional revenue.
| Tax-free budget a farce
By CA Devender Singh
Terming the SAD-BJP government’s “tax free” budget as a fraud on public, the Punjab Pradesh Congress Committee (PPCC) on Thursday announced to soon expose the current regime by issuing a white paper on “indirect” taxes worth over Rs. 3000 crores imposed by subverting the democratic process.
| Train travel to be costlier as new rail budget come into effect
By CA Devender Singh
Travelling in trains will become costlier from Monday as the hike in reservation, tatkal, cancellation fees and some other charges announced in the rail budget will come into effect.
| Delhi budget: No new taxes announced ahead of polls
By CA Andrew F Thomas
Delhi chief minister Sheila Dikshit refrained from raising or imposing new taxes in the budget for the year starting 1 April and proposed incentives for small traders ahead of assembly election in Delhi later this year.
| Budget's non-tax support to MSMEs will be made available through Sidbi
By CA Atul Gupta
In the recent Budget, the finance minister said that "at present, service tax does not apply to air-conditioned restaurants that do not serve liquor. The distinction is artificial, and I propose to levy service tax on all air conditioned restaurants.
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| | ITAT-Constitution of Benches RSS Feeds |
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ITO vs. LKP Securities Ltd (ITAT Mumbai)
By CA Atul Gupta
In AY 2008-09 the assessee collected employees’ contribution to the Provident Fund and ESIC but did not pay it within the due date prescribed by the relevant legislation. The amount was, however, paid before the due date of filing the ROI.
| INCOME-TAX APPELLATE TRIBUNAL, MUMBAI BENCHES, MUMBAI STATEMENT SHOWING THE LIST OF THIRD MEMBER CASES PENDING AS ON 06.05.2013
By CA Mayank Jain
INCOME-TAX APPELLATE TRIBUNAL, MUMBAI BENCHES, MUMBAI STATEMENT SHOWING THE LIST OF THIRD MEMBER CASES PENDING AS ON 06.05.2013
| INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCHES, MUMBAI STATEMENT SHOWING THE LIST OF SPECIAL BENCH CASES PENDING AS ON 06.05.2013.
By CA Manu T George
INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCHES, MUMBAI STATEMENT SHOWING THE LIST OF SPECIAL BENCH CASES PENDING AS ON 06.05.2013.
| INCOME TAX APPELLATE TRIBUNAL,CHENNAI BENCHES,CHENNAI CONSTITUTION FOR THE WEEK FROM 20/05/2013 TO 23/05/2013
By CA Mayank Jain
INCOME TAX APPELLATE TRIBUNAL,CHENNAI BENCHES,CHENNAI CONSTITUTION FOR THE WEEK FROM 20/05/2013 TO 23/05/2013
| INCOME TAX APPELLATE TRIBUNAL : AHAMEDABAD BENCHES : AHAMEDABAD CONSTITUTION OF CHANDIGARH BENCHES FROM 20.05.2013 TO 24.05.2013
By CA Andrew F Thomas
INCOME TAX APPELLATE TRIBUNAL : AHAMEDABAD BENCHES : AHAMEDABAD CONSTITUTION OF CHANDIGARH BENCHES FROM 20.05.2013 TO 24.05.2013
| INCOME TAX APPELLATE TRIBUNAL : CHANDIGARH BENCHES : CHANDIGARH CONSTITUTION OF CHANDIGARH BENCHES FROM 20.05.2013 TO 24.05.2013
By CA Nilesh Sahu
INCOME TAX APPELLATE TRIBUNAL : CHANDIGARH BENCHES : CHANDIGARH CONSTITUTION OF CHANDIGARH BENCHES FROM 20.05.2013 TO 24.05.2013
| INCOME TAX APPELLATE TRIBUNAL : LUCKNOW BENCHES : LUCKNOW (CONSTITUTION FROM 20.05.2013 TO 24.05.2013
By CA Mayank Jain
INCOME TAX APPELLATE TRIBUNAL : LUCKNOW BENCHES : LUCKNOW (CONSTITUTION FROM 20.05.2013 TO 24.05.2013
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| | Placements & Empanelment RSS Feeds |
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18 Opening Chartered Accountant / Finance Executive and Managers
By CA Manu T George
Salary:INR 3,00,000 - 8,00,000 P.A, Functional Area: Accounts, Finance, Tax, Company Secretary, Audit, Education:(UG - Any Graduate - Any Specialization, Graduation Not Required)
| New Opening Walkin - Chartered Accountant, Finance (asst. Manager - F&A)
By CA Rashmi Sharma
Salary:INR 5,50,000 - 7,00,000 P.A, Functional Area: Accounts, Finance, Tax, Company Secretary, Audit, Education:(UG - B.B.A - Management, B.Com - Commerce) AND (PG - CA) AND ( Doctorate - Any Doctorate - Any Specialization, Doctorate Not Required)
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| MNC Hiring 4 Chartered Accountant, Finance Process
By CA Ojas Aggarwal
Salary:INR 1,50,000 - 2,25,000 P.A Functional Area: Accounts, Finance, Tax, Company Secretary, Audit Education:(UG - B.Com - Commerce, B.B.A - Management) AND (PG - MBA/PGDM - Any Specialization, ICWA, CA, CS, M.Com - Commerce)
| 16 Opening Chartered Accountant | Finance Assistant | Accounts Assistant
By CA Devender Singh
Salary:INR 1,50,000 - 4,00,000 P.A. Incentives,bonous Functional Area: Accounts, Finance, Tax, Company Secretary, Audit ducation:(UG - Any Graduate - Any Specialization, Graduation Not Required) AND (PG - Any Postgraduate - Any Specialization, Post Graduation Not Required) AND ( Doctorate - Any Doctorate - Any Specialization, Doctorate Not Required)
| New Opening Accountant/accounts/finance Executive&manager - Urgent Opening
By CA S K Verma
Salary:INR 2,75,000 - 7,50,000 P.A Functional Area: Accounts, Finance, Tax, Company Secretary, Audit Education:(UG - Any Graduate - Any Specialization, Graduation Not Required) AND (PG - Any Postgraduate - Any Specialization, Post Graduation Not Required)
| 30 Opening Accounts, Finance, Tax, Audit Executive (MBA Finance Fresher)
By CA Manu T George
Salary:INR 1,50,000 - 3,25,000 P.A, Functional Area: Accounts, Finance, Tax, Company Secretary, Audit, Education:(UG - B.Sc - Any Specialization, B.Com - Commerce, B.A - Any Specialization, B.B.A - Management)
| 20 Urgent opening Chartered Accountant, Finance & Accounts UK Process - Freshers / EXP.
By CA Rashmi Sharma
Salary:INR 1,75,000 - 2,25,000 P.A. Best in the Industry, Functional Area: Accounts, Finance, Tax, Company Secretary, Audit Education:(UG - B.B.A - Management, B.Com - Commerce) OR (PG - Any Postgraduate - Any Specialization) AND ( Doctorate - Any Doctorate - Any Specialization, Doctorate Not Required)
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| | Direct Tax RSS Feeds |
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Chennai corporation decides to hike property tax for IT complexes
By CA Nilesh Sahu
The Chennai Corporation on Wednesday passed a resolution seeking approval from the state government to increase property tax for buildings housing IT companies by 50% to 200%.
| Central Board of Direct Taxes Update
By CA Mayank Jain
The CBDT is a part of Department of Revenue in the Ministry of Finance. On one hand, CBDT provides essential inputs for policy and planning of direct taxes in India,at the same time it is also responsible for administration of direct tax laws through the Income Tax Department.
| Govt seeks information from 70,000 high priority IT assessees
By CA Devender Singh
The government today said it would send letters to 70,000 "high priority" assessees this month asking them to disclose their true income and pay taxes in the current financial year.
| Direct tax arrears jump 94% in 3 years
By CA S K Verma
Though the revenue demand in tax cases have gone up dramatically — arrears in direct taxes increased in FY13 to R4,82,027 crore from R3,33,079 crore in FY12 and R2,48,927 crore in FY11,
| I-T Dept: Digitisation needs manpower to process data
By CA Rashmi Sharma
InfosysBSE 1.19 % Ltd, country's No. 2 software services exporter, said on Monday it would challenge a Rs 577 crore ($105.3 million) income tax demand raised by income tax department earlier this month.
| Some headway in local body tax talks, but stir still on
By CA Ojas Aggarwal
A meeting between chief secretary J K Banthia, government officials and the Poona Merchants' Chamber in Mumbai on Friday brought some hope as the government has verbally agreed to act upon 20 of the 23 changes suggested by the traders in the local body tax (LBT) law.
| Tax Department to create online database for judicial history
By CA Ojas Aggarwal
Soon, the taxman would be able to identify high tax demand cases and dispose them of on a priority basis, apart from spotting and dismissing frivolous appeals instantaneously.
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| | Service Tax RSS Feeds |
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COMMISSIONER OF CENTRAL EXCISE & SERVICE TAX Vs. SIMPLEX INFRASTRUCTURE & FOUNDRY WORKS
By CA Andrew F Thomas
This appeal has been filed on behalf of the Revenue being aggrieved by the order dated 13.07.2011 passed by the Customs, Excise & Service Tax, Appellate Tribunal, Principal Bench, New Delhi in ST/Appeal No. 418/2007
| COMMISSIONER OF SERVICE TAX Vs. RATAN SINGH BUILDERS PVT LTD
By CA Nilesh Sahu
This appeal is directed against the order dated 27.02.2012 passed by the Customs, Excise & Service Tax Appellate Tribunal in service ST Stay No. 1989/2011 and ST Appeal No. 965/2011.
| Proforma for forwarding the proposal for publishing of names and other details in r/o Service Tax (Provisional Attachment of Property) Rules, 2008
By CA Rashmi Sharma
Proforma for forwarding the proposal for publishing of names and other details in r/o Service Tax (Provisional Attachment of Property) Rules, 2008
| Finance Ministry implements amnesty scheme for service tax defaulters
By CA Rashmi Sharma
Aimed at widening revenue from indirect tax, the Finance Ministry has implemented one-time amnesty scheme for service tax defaulters to pay their due without any penalty or late payment charges.
| COMMISSIONER OF INCOME TAX Vs. MENTOR GRAPHICS (NOIDA) PVT.LTD.
By CA S K Verma
In this appeal, the revenue has challenged the order of the Income Tax Appellate Tribunal, dated 02.11.2007, passed in ITA No. 1969/Del/2006, relating to the assessment year 2002-03. By virtue of an order dated 13.01.2011,
| COMMISSIONER OF INCOME TAX-VI Vs. TIMES BUSINESS SOLUTION LTD.
By CA Ojas Aggarwal
This appeal by the revenue is directed against the order of Income Tax Appellate Tribunal dated 31.08.2012 in ITA No. 629/Del/2012 pertaining to the assessment year 2007-08. The assessing officer had disallowed a sum of `. 3,63,31,532/- which had been shown by the assessee as bad debts written off.
| COMMISSIONER OF INCOME TAX-(C)-III Vs. FLEX FOODS LTD
By CA Atul Gupta
These appeals by the revenue are in respect of the assessment years 2003-04 and 2004-05 and arise out of the common order passed by the Income Tax Appellate Tribunal on 17.04.2012 in ITA Nos. 4880-4881/Del/2011,
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| | Mergers and Acquisitions RSS Feeds |
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Bank mergers could lead to too-big-to-fail entities: Chidambaram
By CA Rashmi Sharma
Union Finance Minister P Chidambaram has favoured mergers in the banking industry so that India can have two-three global sized banks.
| Mergers & amalgamations: Practical issues in Cenvat
By CA S K Verma
The general philosophy in tax is that a merger or demerger, acquisition or sale should be tax neutral, as far as possible. This is particularly true in case of indirect tax, which is supposed to be a tax collected from the customer, not imposed on the business.
| Outbound mergers & acquisitions will stay quiet for some time: Sanjay Bhandarkar, Rothschild India
By CA Andrew F Thomas
For us, signs are only driven by the level of activities we are seeing in the deals that we are doing. Lot of cases where things were very slow, and deal discussions that went into cold storage are seeing a pick-up in activity.
| India attractive destination for mergers and acquisition activities: Ernst & Young
By CA S K Verma
Favourable demographics and growth opportunities keep India an "attractive" destination for merger and acquisition (M&A) activities across diverse sectors including consumer goods and pharmaceuticals, according to global consultancy Ernst & Young.
| Tread cross-border mergers cautiously
By CA Andrew F Thomas
The new Companies Bill 2012, which is awaiting approval by the Rajya Sabha before it becomes law, permits the merger of Indian companies with foreign companies but those eyeing such an option should tread cautiously.
| Mergers and acquisitions undermine innovation: IIM-Ahmedabad study
By CA Nilesh Sahu
Innovation suffers when mergers and acquisitions of companies take place. A study by the Indian Institute of Management, Ahmedabad (IIM-A) has found that the firms in industries with greater research and development (R&D) efforts in the past, larger participation of multinational companies,
| Mergers and Acquisitions activity expected to see sharp jump in 2013:
By CA Mayank Jain
Although global uncertainties and domestic factors impacted mergers and acquisitions (M&As) in India in 2012, they are expected to see a sharp jump in 2013, to be driven mainly by cross-border activity, global consultancy firm Ernst & Young has said.
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| | Various Acts & Rules RSS Feeds |
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Customs Tariff 2009-10 - PART-II - Chapter 98 - Project imports, Laboratory chemicals, passenger's baggage
By CA Atul Gupta
This Chapter is to be taken to apply to all goods which satisfy the conditions prescribed therein, even though they may be covered by a more specific heading elsewhere in this Schedule.
| Customs Tariff 2009-10 - PART-II - Chapter 97 - Works of art, collectors' pieces and antiques
By CA Atul Gupta
Unused postage or revenue stamps, postal stationery (stamped paper) or the like of heading 4907
| Customs Tariff 2009-10 - PART-II - Chapter 96 - Miscellaneous manufactured articles
By CA Mayank Jain
Articles of Chapter 66 (for example, parts of umbrellas or walking-sticks);
| Customs Tariff 2009-10 - PART-II - Chapter 95 - Toys, games and sports requisites; parts and accessories thereof
By CA Ojas Aggarwal
Toys, games and sports requisites; parts and accessories thereof
| Customs Tariff 2009-10 - PART-II - Chapter 94 - Furniture; bedding, mattresses, mattress supports
By CA Atul Gupta
Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, not elsewhere specified or included; illuminated signs, illuminated name-plates and the like; prefabricated buildings.
| Customs Tariff 2009-10 - PART-II - Chapter 93 - Arms and ammunition; parts and accessories thereof
By CA Nilesh Sahu
telescopic sights or other optical devices suitable for use with arms, unless mounted on a firearm or presented with the firearm on which they are designed to be mounted (Chapter 90);
| Customs Tariff 2009-10 - PART-II - Chapter 92 - Musical instruments; parts and accessories of such articles
By CA Devender Singh
parts of general use, as defined in Note 2 to Section XV, of base metal (Section XV), or similar goods of plastics (Chapter 39);
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