ICAI on 06.07.2015 announced the new Scheme of Education and Training for CA Course. Under the new scheme ICAI allows Commerce Graduates/Post-Graduates (with minimum 55% marks) or Other Graduates/Post-Graduates (with minimum 60% marks) and Intermediate level passed students of Institute of Company Secretaries of India and Institute of Cost Accountants of India to enter directly […]
As per Notification No. 3/2015-20 dated 20.04.2015, export of sugar (HS Code 17010000) to USA under TRQ is ‘Free’ subject to the conditions notified in the ‘Nature of Restrictions’ in the above notification. Certificate of Origin, if required, for export of preferential sugar to USA, shall be issued by Additional Director General of Foreign Trade, Mumbai. Other certification requirement, if any, prescribed specifically for export of sugar to USA would continue to be followed.
Res judicata has been defined under Section 11 of The Code of Civil Procedure, 1908, wherein it is stated that no court shall try any suit or issue in which the matter directly and substantially in issue has been directly and substantially in issue in a former suit between the same parties, or between parties under whom they or any of them claim
ITR forms were introduced with a view to enhance simplification and information disclosures from the assessees. The forms required extensive disclosures such as bank account disclosures held during the year including dormant accounts, details of foreign trips including number of visits and sums expended from assessee’s own sources . Aadhaar has, like in other essential services, crawled into the Income-tax Returns also.
With the introduction of the Point of Taxation Rules, 2011, which shifted the liability of payment of service tax from receipt basis to accrual basis, and the advent of negative list-based comprehensive taxation of services in 2012, it was felt that the guidelines for detailed scrutiny of returns needed a revision. In this background, it has been decided that detailed scrutiny of ST-3 returns, with effect from 01.08.2015, should be carried out
In regard to the General Amnesty Scheme for retrospective restoration of membership which was extended upto 15th May, 2015 vide Announcement dated 5th May, 2015 on the website of the Institute, it is hereby clarified that under the said amnesty scheme, the names of only those members would be included in the List of Members as on 1.4.2015
Many of our readers are students, pursing Professional courses, like CA, CS, CMA, etc., aiming to be a great professional in their life. While going through the studies most of us find hard to understand the meaning of some terms, words and/ or expressions, due to their origin in different languages. This piece of writing is my deliberate attempt to make you aware of such terms, words, and/or expressions, with an aim to help you, during your studies.
Most of us face this dilemma at some point of time in life – Should I spend 4 hours repairing a certain item (be it an air conditioner, some furniture or something else) or spend some money to hire an expert to do it efficiently. It was into the sixth hour of trying to repair my virus-infected laptop when the miser in me gave up and my mind cried out Is 6 hours of your day really worth Rs. 2,000 which you are trying to save by not calling for the services of a Software Engineer?
Submission of suggestions on forms other than ITR – ICAI was requested to submit the suggestions on forms other than ITRs. In this regard, the Committee has submitted the suggestions in two parts: a) Suggestions on Formats of Form Nos. 3CA/3CB/3CD b) Suggestions on Format of other forms like Form No. 3CEB, 10CCB, 15CA etc.
In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby authorises the entities mentioned in column (2) of the Table given below, to issue, tax- free, secured, redeemable, non-convertible bonds during the financial year 2015-16, aggregating to amounts mentioned in column (3) of the said table, subject to the conditions, namely :-
