"28 August 2016" Archive

Guide on Auditor’s Reports under IAS for Transition Phase

The Implementation Guide addresses the various issues relating to the auditor's reporting responsibilities on the financial statements prepared under the Indian Accounting Standards (Ind AS) framework especially during the transition phase of first time implementation of Ind AS Framework....

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Posted Under: CA, CS, CMA |

Vignaharta! Please take away Vighna’s of MVAT Returns

Sales Tax Department had introduced automation in filing of VAT Returns on 25th February 2016 and it was decided to bring it in effect from April 2016.Due to various technical issues, VAT Returns are still pending to be filled since April 2016. ...

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Posted Under: CA, CS, CMA |

Update PAN to avoid blocking of e-filing a/c by Income Tax Dept.

The issue of deactivating of the e-filing accounts of the members of the ICAI by the Income Tax Department on account of the mismatch in ‘Name’/ ‘PAN No.’ / ‘Date of Birth’ in the Income Tax records and the records available with the ICAI was taken up with the Income Tax Authorities on 26th August 2016....

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Posted Under: CA, CS, CMA | ,

ICSI- Procedure for Marks Verification & Inspection/ Supply of Answer Books

In terms of Regulation 46 (2) of the Company Secretaries Regulations, 1982, as in force, a candidate can seek Verification of Marks in any subject(s) of CS examination within 30 days from the date of declaration of results....

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Posted Under: CA, CS, CMA |

New Due Dates for Filing of MVAT & CST Returns in Maharashtra

Much awaited Circular for Introduction of New Automation Process for Filing of MVAT and CST Returns has been issued under no. 22T of 2016 dated 26.08.2016 and accordingly Revised Scheduled for Filing of Returns from 01 April 2016 is also been announced...

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The Risk of Investing most of your money in Real Estate

Property, in the form of real estate, a piece of land, or an apartment or house, is considered to be fairly good investment option. Simple investors feel happy and contended when they invest their money in a property and expect it to give them grand returns. They dream that their net worth will shoot up […]...

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Posted Under: CA, CS, CMA |

Merger and acquisitions (M&A) – Always a Success?

Merger and acquisitions are the key forms of corporate restructuring. M&A activities are increasing over period. Achieving the economies of scale, broadening geographic market coverage, and more effectively competing have helped to create a flurry of acquisitions in the marketplace....

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Posted Under: CA, CS, CMA |

The Income Declaration Scheme, 2016- An Overview

Few Words about the scheme:- i. The Income Declaration Scheme,2016 is incorporated as Chapter IX of Finance Act 2016 and is covered in section 181 to section 199. ii. It shall come into force on 1st day of June 2016...

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Posted Under: CA, CS, CMA |

Unearth Black Wealth and Buy Peace- IDS, 2016

India is moving towards a lower tax regime with non-litigious approach. Thus, while compliant taxpayer can expect a supportive interface with the department, tax evasion will be countered strongly. Capability of the department to detect tax evasion has improved because of enhanced access to information and availability of technology....

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Posted Under: CA, CS, CMA |

Amendment in CYPRUS DTAA

The Union cabinet on Wednesday approved the revised double taxation avoidance agreement (DTAA) with Cyprus which will help close gaps and enable Indian authorities to tax capital gains in the country for investments originating in the Mediterranean island nation....

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Posted Under: CA, CS, CMA |