The Central Board of Excise & Customs (the Board) has issued Circular No. 44/2013-Customs dated December 30, 2013 (the Circular) to provide clarification on whether the benefit of exemption of Special Additional Duty (SAD) would be available when goods are cleared from Special Economic Zone/ Free Trade Warehousing Zone (SEZ/FTWZ) to a Dom...
As per the Company 2013, the auditor’s responsibility has been enhanced to a great extent and the manner of appointing him has also been changed, when compared to companies Act, 1956. We here discuss briefly about the Auditors responsibility in light of Companies Act, 2013. ...
C.I.T. Vs Madhu Chawla (Supreme Court of India) -
SC has dismissed the revenue appeal in which the Allahabad High Court had confirmed the ITAT stand of quashing the assessment order on the ground that the assessment order in the name of individuals could not be made when the warrant of authorisation was issued in the joint names of Ashok Chawla, Smt. Madhu Chawla and Shri Anuj Chawla. ...
The Financial Accounting Standards Board (FASB) and the Private Company Council (PCC) issued on December 23, 2013 the final Private Company Decision-Making Framework: A Guide for Evaluating Financial Accounting and Reporting for Private Companies. The FASB also issued FASB Accounting Standards Update No. 2013-12, Definition of a Public Bu...
We have attached a file in excel format. The file contains the format of various details which normally assessing officer asks Assessee to furnish during Scrutiny Assessment U/s. 143(3) of the Income Tax Act, 1961. We have attached the format of following details :-...
01/01/1970
The companies are required to file their Balance Sheet and Profit & Loss Account and other documents in Form 23AC/ACA as required u/s 220 of the Companies Act, 1956 (‘Act’) read with Rule 7B of the Companies (Central Govt.’s) General Rules & Forms, 1956 (‘Rules’) with the jurisdictional Registrar of Companies (RoC) within 30 day...
Trade Circular No. No. 1T of 2014 -
04/01/2014
The prescribed date for filing the report of the audit under section 61 in Form 704 for the financial year 2012-13 is 15th January 2014. In absence of amendment to rule 58(1) and rule 58(1A), it may not be possible to complete the audit of developers. In view of the above, it is administratively decided that if an Audit Report in form 704...
Notification No. 02/2014-Customs (ADD) -
03/01/2014
Whereas, the designated authority vide notification F.No. 15/22/2013-DGAD, dated the 14th November, 2013, published in the Gazette of India, Extraordinary...
Notification No. 01/2014-Customs (ADD) -
03/01/2014
In exercise of the powers conferred by sub-section (1) and (5) of section 9A of the Customs Tariff Act, 1975 (51 of 1975), read with rules 18 and 23 of the Customs Tariff ...
As the Euro slumps going into 2014, the French economy seems to be picking up. Reports are showing that the French economy has grown by 0.1% from July to September. Moreover, metrics later indicated that the growth topped out at 0.6%. All this while the Euro has been slumping against the U.S. dollar. How are these two things connected?...