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Archive: 22 July 2015

Posts in 22 July 2015

Mystery of Confusing Notifications on applicability of Excise Duty on Textiles, Mobile phone etc.

July 22, 2015 2188 Views 0 comment Print

Mystery of Confusing Notifications on applicability of Excise Duty on Textiles, Mobile phone, Note books, Spectacles, Calculators, Water filters, Sauces and ketchups, Bicycles, etc. The Central Board of Excise and Customs has issued three Central Excise Notifications apparently to clarify when manufacturers can avail exemption or concessional rates of CE duty.

Checklist on Board’s Report under Companies Act, 2013

July 22, 2015 7217 Views 0 comment Print

As we all are in urge of finalization and procedural requirements related to the various compliances under the Companies Act, 2013. Most of the important matters are related to the Board of Directors which they need to follow as per Companies Act 2013, for the purpose of the same following reference checklist will benefit to one and all.

Simplifying Mechanism of Issuing Passport under passport seva system

July 22, 2015 1701 Views 0 comment Print

The minister of state in the ministry of external affairs Gen. (Dr) V. K. Singh (retd) informed the members of Lok Sabha today in reply to a question that (i) It would be incorrect to say that a large number of applicants seeking passport services are unable to use online method as often server goes […]

Govt. integrates 14 services with eBiz portal & 12 are more under various stages of integration

July 22, 2015 366 Views 0 comment Print

Introduction of E-Biz Platform   – 14 Central Government services have been integrated with eBiz portal. S. No. Ministry/ Dept. Name Service  Name 1 Ministry of Corporate Affairs Name Availability 2 Ministry of Corporate Affairs Director Identification Number 3 Ministry of Corporate Affairs Certificate of Incorporation 4 Ministry of Corporate Affairs Commencement of Business 5 Central […]

ICAI devised mechanism to Monitor Tendering Fees quoted by its Members

July 22, 2015 790 Views 0 comment Print

ANNOUNCEMENT – MECHANISM TO MONITOR TENDERING With a view to contain the tendering system for attest functions, the Council at its special (338th) meeting considered the report of the Group constituted under the convenorship of CA. Tarun Jamnadas Ghia, Member, Central Council and decided as under: 1.  Tendering has been prohibited in the exclusive areas of […]

Fate of GST Bill in Rajya Sabha: Clouds of dissonance on the ongoing Monsoon session

July 22, 2015 1139 Views 0 comment Print

The much talked about Goods and Services tax (GST) Regime has been creating a buzz amongst all, eagerly waiting for the monsoon session of the Parliament to commence with the hope that the much awaited Constitution (122nd Amendment) Bill, 2014 on GST (‘122nd CAB’or ‘GST Bill’) will be passed.

Relaxation in requirement to undergo nine months of Practical Training to appear in IPC Exam

July 22, 2015 1109 Views 0 comment Print

Sub.: Relaxation in the requirement to undergo nine months of Practical Training to appear in Intermediate (IPC) Examination in respect of students registered for Intermediate (IPC) under CPT Route and shifted to Direct Entry Scheme In order to mitigate the hardships being faced by the students who have originally registered for Intermediate (IPC) Course under […]

ICAI declares Time Table of CPT December 2015

July 22, 2015 913 Views 0 comment Print

No.13-CA (EXAM)/CPT/December/2015: In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to notify that the Common Proficiency Test will be held on Sunday, 13th December, 2015 in two sessions as below, at the following centres provided that sufficient number of candidates offer themselves to appear from each centre.

Regarding unfettered power of reassessment u/s 147- Now IT Dept & Assessee are 3 each

July 22, 2015 4822 Views 0 comment Print

1. Recently, Karnataka High Court on 1-Jul-2015 in the case of Sri N Govindaraju v ITO in ITA/504/2013 held that, an AO has the AO has unfettered power of re-to assessment u/s 147 i.e. not limited to issue mentioned in notice u/s 148. 2. Till that date, the views of the high courts were divided […]

Transfer u/s 2(47) completes only when conditions of sec 53A of transfer of property act gets fulfilled

July 22, 2015 3095 Views 0 comment Print

ITAT held that Section 53A of 1882 Act, by incorporation, stood embodied in section 2(47)(v) of the Act and all the essential ingredients of Section 53A of 1882 Act were required to be fulfilled to attract sec 2(47). In the absence of registration of JDA

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