Background-: 1. Recently, in October 2015, the International Accounting Standards Board (IASB) who are developing International Financial Reporting Standards [IFRS] has issued two draft documents namely A. Application of Materiality to Financial Statements B. Uncertainty over Income Tax Treatments
Exposure Draft- IFRS Practice Statement Application of Materiality to Financial Statements – Comments to be received by 26 February 2016 Exposure Draft ED/2015/8 IFRS Practice Statement Application of Materiality to Financial Statements is published by the International Accounting Standards Board (IASB) for comment only. The proposals may be modified in the light of the comments […]
Research Committee of the Institute of Chartered Accountants of India invites comments on any aspect of this Exposure Draft of the ‘Guidance Note on Some Important Issues Arising from Schedule II to the Companies Act, 2013’. Comments are most helpful if they indicate the specific paragraph or group of paragraphs to which they relate, contain a clear rationale and, where applicable, provide a suggestion for alternative wording.
To further boost this entire investment environment and to bring in foreign investments in the country, the Government has brought in FDI related Reforms and liberalisation touching upon 15 major Sectors of the Economy. The salient measures are: i. Limited Liability Partnerships, downstream investment and approval conditions. ii. Investment by companies owned and controlled by Non-Resident Indians (NRIs)
In Union Budget 2015, Government had issue Swachh Bharat Cess (SB Cess) @ 2% stating the fact that it will be effective from the date to be notified. Notification No. 21/2015-ST dtd. 06-11-2015, notified 15-11-2015, the date from which SB cess would be effective and notification no. 22/2015-ST dtd -6-11-2015 reduced the rate of SB cess to 0.5%.
ITAT Ahmedabad held In the case of Shell Global Solutions International BV vs. ITO that as clearly stated in the MoU to the Indo US tax treaty, which stands incorporated in the Indo Dutch tax treaty as well by the virtue of MFN clause
Proposals are invited from eligible Chartered Accountant Firms/ Companies/ LLP for empanelment to conduct Concurrent Audit of our branches.
‘My Stamp’ is the brand name for personalized sheets of Postage Stamps of India Post. The personalization is achieved by printing a thumb nail photograph of the customer images and logos of institutions, or images of artwork, heritage buildings, famous tourist places, historical cities, wildlife, other animals and birds etc., alongside the selected Commemorative Postage […]
Circular No. 187/6/2015-Service Tax This scheme is applicable to service tax registrants who are exporters of services, with respect to refund claims under rule 5 of the CENVAT Credit Rules, 2004, which have been filed on or before 31-3-2015, and which have not been disposed of as on date of the issue of this circular. Such registrants will be referred to as ‘claimants’ in the subsequent paragraphs.
. As a part of the continuing endeavor to streamline the process of public issue of equity shares and convertibles, it has been decided, in consultation with the market participants -(i) to reduce the time taken for listing after the closure of issue to 6 working days as against the present requirement of 12 working days, and (ii) to broad-base the reach of investors by substantially enhancing the points for submission of applications.
