"18 July 2016" Archive

CA Final / CPT May / June 2016 Pass Percentage & Toppers

The Institute of Chartered Accountants of India (ICAI) today announced the following results: 1) Chartered Accountants Final Examination held in May, 2016. 2) Common Proficiency Test held on June 19, 2016. The top three rank holders on all India basis of Chartered Accountants Final Examinations held in May, 2016 are from Salem, Vijayawada...

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Posted Under: CA, CS, CMA |

CBDT signs 7 more APAs on 18th July 2016

CBDT entered into seven (7) Unilateral Advance Pricing Agreements (APAs) today, i.e., 18th July, 2016, with Indian taxpayers. Some of these agreements also have a Rollback provision in them....

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Posted Under: CA, CS, CMA |

We will bring formal financial services to every Indian: RBI Governor

In the foreseeable future, we will bring formal financial services to every Indian who wants them. Financial inclusion will be an important element in ensuring access and equity - the necessary building blocks for sustainable growth of our country." Dr. Raghuram G. Rajan said this today while speaking at the National Seminar on Equity, Ac...

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Posted Under: CA, CS, CMA |

Comparison of Companies Cost records & audit Rules, 2016 with 2014 Rules

Comparative Statement showing Original Rules 2014 i.e. Companies (cost records and audit) Rules,2014 vis-a-vis Amendment Rules 2016 i.e. Companies (cost records and audit) Amendment Rules, 2016 – issued on 14th July 2016 Notes: All additions are shown in red and deletions are shown in blue. Entire Rules are not given; only changes h...

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Posted Under: CA, CS, CMA |

Notification No. 58/2016-Income Tax Dated: 18.07.2016

Notification No. 58/2016-Income Tax (18/07/2016)

It is hereby notified for general information that the organisation Mis Indian Institute of Science Education and Research. Mohali (PAN:- AAAAI1781K) has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-lax Act. 1961 (said Act), read with Rules 5C and 5E of the income-ta...

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CBI arrests Director General, MCA & 3 others in alleged bribery Case

The Central Bureau of Investigation has arrested Director General, Ministry of Corporate Affairs(Govt of India), Delhi and three private persons including a Delhi based middleman in an alleged bribery case of Rs. 9 Lakh....

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Posted Under: CA, CS, CMA |

Consolidated Financial Statements – An Overview

Section 129 (3) of the Companies Act, 2013 provides that where a Company has one or more subsidiaries, it shall, in addition to their financial statements prepare a consolidated financial statement of the Company and of all the subsidiaries in the same from and in the same form and manner as that of its own which shall also be laid before...

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Posted Under: CA, CS, CMA |

Section 135 –Corporate Social Responsibility- Companies Act, 2013

Following Expenditure are not treated as a CSR i) Any amount Contributed to political party is not treated as a CSR. (ii) Any project/Programme which benefits the employees or their family is not treated as CSR. (iii)Any activity undertaken by company during the normal course of business is not treated as CSR....

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Posted Under: CA, CS, CMA |

Procedure For Right Issue of Shares under Companies Act,2013

Meaning of Right Share of Issue: Right Issue’ means offering shares to existing members in proportion to their existing shareholding through letter of offer. Governing Section: SECTION 62 of Companies Act 2013...

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Posted Under: CA, CS, CMA |

FCRA, 2010 – All you want to Know (FAQs)

Please Click on the topics to view the corresponding FAQ’s Introduction to FCRA, 2010 Key Definitions and Concepts under FCRA, 2010 Registration and Prior Permission Acceptance and Utilization of Foreign Contribution Transfer of Foreign Contribution Maintenance of Accounts Filing of Annual Returns Banks and Banking related issues Ch...

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