Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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
 
 
 
 
Popular Search: TDS :: empanelment :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: form 3cd :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: VAT Audit
 
 
« Direct Tax »
 CBDT asks I-T dept to take urgent steps
 I-T department asks taxpayers to update their information on e-filing portal
 Companies may have to submit income estimates by 15 November
 CBDT proposal on advance estimates of tax liability irks industry
 Advance tax calculation: Firms may have to furnish Apr-Sept income estimates
 Companies may have to furnish Apr-Sept income estimates to I-T dept
 CBDT working on a draft rule that makes it compulsory for companies to provide income estimates by Nov 15
 Companies, HNIs may soon have to specify reason for paying less advance tax than previous year
 TDS Applicability On Government Contracts Under Gst (Under Section 51 Of The Cgst Act, 2017)
 CBEC tells field officers to take GST disputes to Supreme Court
 Jurisdiction-free income-tax assessment on the cards

DTC: Reconsider stance on definition of accountant, Panel tells Finance Ministry
March, 15th 2012

The Standing Committee on Finance has urged the Finance Ministry to reconsider the suggestions of company secretaries and cost accountants to include them within the definition of accountant under the proposed Direct Taxes Code.

The Finance Ministry had in its submissions to the Parliamentary Panel contended that the suggestions of these two professions company secretaries and cost accountants are not acceptable as they may not have the expertise to deal with all the financial statements and matters for tax purposes.

In its report, the Standing Committee headed by Mr Yashwant Sinha has, however, suggested that the inclusion of company secretaries and cost accountants within the ambit of an accountant may provide small and medium enterprises a wider and cost effective scope for selection of professionals. This will be an important initiative towards simplified tax compliance regime, the panel has said.

The widening of scope of definition of accountant in the direct taxes code will give cost accountants the due recognition, Mr M. Gopalakrishnan, President of Institute of Cost Accountants of India, said.

He said that lawmakers need to recognise that cost accountants are closely associated with businesses and even involve themselves in preparation and maintenance of accounts

If the definition of accountant is altered, it will widen the professional opportunities for cost accountants and company secretaries as many legislations in India such as VAT, excise draw the definition of accountant from the one in the income-tax law, sources pointed out.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Contact Us

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