sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
News Headlines »
 How to file different categories of ITR forms online Income tax e-filing
 Here are other documents you need to file online ITR Got your Form-16 for FY18?
 10 must have documents to file your tax return
 Know all about how to file ITR FY 2017-18
 Government extends sale of pre-GST goods with stickers of revised price till July 31
 All 7 ITR forms for assessment year 2018-19 activated for e-filing: Income Tax Department
 Check if new salary structure is income tax efficient
 GST refund drive extended till June 16
 5 income tax returns filing mistakes you must avoid
 Your complete guide to file income tax return
 Input Tax Credit refund drive till June 14

Announcement - Clarifications in Respect of MEF 2016-17
October, 12th 2016
PD/A-40/2016 6th October, 2016
ANNOUNCEMENT - CLARIFICATIONS IN RESPECT OF MEF 2016-17

Applicants of MEF who are (i) Applying as "Proprietary Concern" and also having Sole/Individual practice registered in Institute's records (ii) Applying as "Individual" (either Sole/Individual practice registered or not in Institute's records) though they are also having Proprietary Concern (iii)Applying as Proprietor and having more than one Proprietary Concern. As the members are aware that at the time of online application of MEF, following applicants are rendered Ineligible due to the clause of exclusivity:

  • Applying as "Proprietary Concern" and also having Sole Practice (Individual) registered in Institute's records;
  • Applying as "Individual" (either sole/individual practice registered or not in Institute's records) and also having Proprietary Concern,
  • Applying as Proprietor and having more than one Proprietary Concern but not associated as a Partner/Paid CA in any other Concern.

In this regard, Members may note the decision of the Council:

  • In the case of Member having Proprietary Concern but applied in Sole/Individual capacity in MEF 2016-17 and Sole/Individual practice is not registered in the Institute records, applicant has to give the consent through an email at mef@icai.in by 31st October, 2016 to treat his/her application as Proprietary Concern subject to fulfillment of other RBI criteria laid down in this regard. The benefit of seniority and UCN allotted in his/her Individual capacity would be given to that Proprietary Concern.
  • The credit of exclusiveness will be given to such Proprietors and Sole/Individual practitioner only if they continue with only one entity i.e. either Proprietary Concern or Sole/Individual Practice. Applicant shall close/terminate other entity(ies) (either proprietary concern or sole practice) in ICAI records by 31st October, 2016. The benefit of seniority of his Individual capacity would also be given to that proprietary concern for MEF purpose.
  • The credit of exclusiveness will be given to Proprietors only if they continue with one Proprietary Concern as far as MEF is concerned. Applicant may close/terminate other Proprietary Concern(s) in the Institute's records by 31st October, 2016.

In Point No. 2&3 above, Members may apply for such closure to their concerned Regional Office and upload a scanned copy of the same at www.meficai.org by logging in at www.meficai.org with their credentials. 

N.B: The Category wise Draft Panel of MEF Applicants will be hosted after 31st October, 2016 at www.meficai.org 

Regards, 

(CA. M. Devaraja Reddy)
President, ICAI

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions