"April, 2015" Archive - Page 20

CPE – ‘Continuing’ or ‘Compulsory’?

Come December month and the threat of completing the ‘Compulsory’ CPE hours would be spooking out most of the practicing Chartered Accountants. CPE which stands for ‘Continuing Professional Education’ is the means by which the members of any profession harness their knowledge and skills. CPE is a structured approach to ensure that...

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Posted Under: CA, CS, CMA |

Transit Sale – Dealer Registration is not mandatory

It has created a lot of confusion and worry in the minds of those manufacturers and dealers who receive goods directly, as consignee, from manufacturer through unregistered dealer (as buyer) and avail cenvat credit on the strength of invoice of supplier manufacturer. ...

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Sebi Grants 18 Months time to Companies of De-recognized/Non operational/exited Stock Exchanges to list in recognized Exchange

Circular No. CIR/MRD/DSA/05/2015 17/04/2015

The exclusively listed companies which fail to obtain listing in any other nationwide stock exchange will cease to be a listed company and will be moved to the dissemination board by the existing stock exchange. Subsequently, SEBI has been in receipt of representations from exclusively listed companies stating that although they are inte...

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Rate of VAT Tax on (Oxygen Cylinder & Nitrous Oxide Cylinders)

No.374/CDVAT/2015/357 17/04/2015

Oxygen and Nitrous Oxide Cylinders are not covered under entry 92 of the third schedule of the DVAT Act 2004 and hence should be taxed under section 4(1)(e) of the DVAT Act 2004 as unspecified item....

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Disclose details of Foreign Travel In Income Tax Return (ITR)

CA Sandeep Kanoi CBDT has vide Notification No. 41/2015 requires Assessee to Disclose in Schedule FT of ITR Details of foreign travel and expenses incurred during the year by the Assessee. This schedule is required to be filled if the assessee has undertaken any foreign travel during the previous year. The countries visited and the [&hell...

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Posted Under: CA, CS, CMA |

e-filing of ITR Mandatory for individuals & HUFs claiming Income tax refund

As per CBDT Notification No. 41/2015 Dated 15.04.2015 Individual or Hindu undivided family has to file Income Tax Return in the following Manner if any Income Tax refund is claimed in the return of income for A.Y. 2015-16 or subsequent Years :-...

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Posted Under: CA, CS, CMA |

CBDT mandates disclosure of all Bank Accounts in ITR

CBDT has vide Notification No. 41/2015, Dated-15th day of April, 2015 Notified ITR-1 ITR-2 ITR-4S ITR-V for A.Y. 2015-16 with several Changes. In such ITRs CBDT has for the first time required an assessee to Compulsorily provide details of all Bank account held in India (including in joint names) at any time during financial year 2014-1...

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Posted Under: CA, CS, CMA |

ITR-1 SAHAJ – Who can & who cannot file & Manner of Filing for A.Y. 2015-16

1. Who can use Form ITR-1 SAHAJ for Assessment Year 2015-16 i.e. Financial year 2014-15? This Return Form is to be used by an individual whose total income for the assessment year 2015-16 includes: (a) Income from Salary/ Pension; or (b) Income from One House Property (excluding cases where loss is brought forward from precious years); [...

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Posted Under: CA, CS, CMA |

ITR-4S Sugam- Who can & who cannot file & Manner of Filing for A.Y. 2015-16

In this article we have discussed who can use Form ITR-4S Sugam, Who cannot use this fornm, for whom it is not mandatory and Manner of filing this Return Form for Assessment Year 2015-16 i.e. Financial year 2014-15. 1. Who can use Form ITR-4S Sugam for Assessment Year 2015-16 i.e. Financial year 2014-15? This Return Form is to [&hellip...

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Posted Under: CA, CS, CMA |

Online verify exemption valid for CA Intermediate and Final May, 2015 examinations

Exemption(s) in a paper(s) are granted to candidates of Intermediate and Final examinations, in terms of Regulation 37C (8) and Regulation 38C (6), respectively, of the Chartered Accountants Regulations 1988. The rules in this regard are provided in the Guidance Notes made available to the candidates along with the examination forms and h...

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Posted Under: CA, CS, CMA |

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