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Archive: July, 2014

Posts in July, 2014

1% Scheme for Developers in Haryana (Draft Notification)

July 8, 2014 2895 Views 0 comment Print

The much awaited draft notification on Composition scheme for Developers and Works contractors have been released by state government on 5th July, 2014. The same has followed the earlier notification increasing the WCT rate to 5% in Haryana as decided in cabinet meetings under the chairmanship of Hon’ble Chief Minister.

Empanelment with SBI for Stock Audit of CAs / CMAs

July 8, 2014 4605 Views 0 comment Print

State Bank of India invites application for Stock Auditors / Valuers, those having their place of business in the State of Delhi, Uttarakhand, Rajasthan and the following districts of Uttar Pradesh and Haryana may send their offers:

CBI Registers case against IT officials and CA in Bribery case

July 8, 2014 2810 Views 0 comment Print

It was alleged that Fazulullah the Dy. Commissioner, Tirupathi Division, Tirupathi had demanded a bribe of Rs.5 Lakhs from Pengaluri Musaliah, A Chartered Accountant of Cuddappah with regard to Income Tax assessment of C.A.’s client & to give a favourable assessment in the scrutiny pertaining to the account of HUF which was pending with Dy. Commissioner.

Shariat courts have no legal sanction, fatwas not binding on anyone: SC

July 8, 2014 2121 Views 0 comment Print

SC held that decision or the Fatwa issued by whatever body being not emanating from any judicial system recognised by law, it is not binding on anyone including the person, who had asked for it. Further, such an adjudication or Fatwa does not have a force of law

Removal of Cost Audit and Methods Would Catastrophic For Indian Economy

July 8, 2014 3212 Views 0 comment Print

In my previous article titled –Affect Of Removal of Cost Audit In Various Industries, I got couple of queries about the value of cost audit and cost methods compared to financial audit. Well I am not inclined to get into the long debate but only thing I would clarify if I don’t develop uniform costing […]

Why one who pays tax only suffers?

July 8, 2014 5044 Views 25 comments Print

Arjuna, Govt. collects taxes and utilizes it for citizen’s security, development, growth, etc. See, like in sports, one wins while other loses similarly in life one’s grief is others reason for happiness. In same way, an expense of one is an Income of other, and hence disparity between Government and Taxpayers will always remain.

India Ranks First in the AEGON Retirement Readiness Survey 2014

July 7, 2014 2000 Views 0 comment Print

July 7, Mumbai: AEGON Religare Life Insurance (ARLI), today, released the India report on the AEGON Retirement Readiness Survey 2014 – Changing Face of Retirement. In the 15-country online survey that was carried out jointly by ARLI’s parent company – AEGON and Cicero Consulting, India participated for the very first time and ranked first on […]

I-T Department started sending e-mail / SMS requesting to update Contact Details

July 7, 2014 11906 Views 17 comments Print

Stay updated with the latest communication from the Income Tax Department. Update your contact details to comply with their request.

Online Enrollment of Auditor (Existing Panel) Extended upto 10th July 2014

July 7, 2014 14393 Views 0 comment Print

Maharashtra Co-operative Auditors (existing Panel) – Profile Updation has been extended till 10th July, 2014. Also the following clarification has been updated; please visit for further information http://mahasahakar.maharashtra.gov.in Clarifications: Online Auditor Enrolment • Online Auditor Enrolment activity is extended up to Thursday i.e. 10th July, 2014. • Under Experience Details: Auditors may choose to upload […]

Affect Of Removal of Cost Audit In Various Industries

July 7, 2014 10030 Views 0 comment Print

Till date we are asking for our rights but now the time has come to let the world know that what this profession of COST ACCOUNTING and COST AUDIT has been doing for the Indian economy. The time has come to raise the values and the benefits the COST AUDIT and COST ACCOUNTING profession provides […]

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