Keeping in view the importance of credit discipline, especially for reduction in NPA level in banks, banks are advised to make use of the information available in CRILC and not limit their due diligence to seeking NOC from the bank with whom the customer is supposed to be enjoying the credit facilities as per his declaration.
The Finance Minister, in the budget speech this year, had announced that a comprehensive new law to deal with black money stashed away abroad would be enacted. The Bill to enact the proposed new law was passed by the Parliament in its Budget Session. The Bill received Presidential assent and became law on 26th May, 2015.
The Income Tax Department has released the software for preparing the Income Tax Return forms 1- SAHAJ, 2, 2A and 4S- SUGAM for AY 2015-16. The e-filing of these return forms has been enabled on the e-filing website- https://incometaxindiaefiling.gov.in/
Dear Friends, I extend my heartfelt warm regards and wishes to all of you on the eve of Chartered Accountants’ Day, which we celebrate every year on 1st July. However, we shall celebrate this Day to celebrate the fearlessness, integrity and ever-vigilant consciousness that are the integral aspects of Indian chartered accountants’ character. It was […]
It was brought to the notice of the Council that a number of students who are otherwise eligible for appearing in the Final Examination effective from November, 2015, are not able to complete the said Course because of certain reasons beyond their control.
Notification No. 66/2015 – Customs (N.T.) Dated the 2nd July, 2015 Central Board of Excise & Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto, into Indian currency or vice versa, shall, with effect from 3rd July, 2015,
Whether an appeal under Section 85 of the Finance Act, 1994) would lie as against the Rejection Order of declaration passed by the Designated Authority under the Voluntary Compliance Encouragement Scheme, 2013 .
Reliance in this connection can be placed on a recent judicial pronouncement of Hon’ble Calcutta Tribunal in case of SPS Steel & Power Limited vs. ACIT [I.T.A Nos. 1391 & 1414/Kol/2011] pronounced on 30-06-2015 wherein a search & seizure operation was conducted on the premises of the appellant under Section 132 and income to the […]
In this article I have compared provision related to Depreciation & Amortization under Companies Act, 1956 and Companies Act, 2013. I have explained the same in tabular form, in simple manner for better understanding of readers-
CIRCULAR NO. 12/2015 Considering the stringent nature of the provisions of the new law, Chapter VI of the Act, comprising sections 59 to 72, provides for a one-time compliance opportunity for a limited period to persons who have any foreign assets which have hitherto not been disclosed for the purposes of Income-tax. This circular explains the substance of the provisions of the compliance window provided for in the said Chapter VI of the Act.
