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Archive: October, 2016

Posts in October, 2016

ICSI advisory on suspension of WIRC Chairman & Secretary

October 18, 2016 2338 Views 1 comment Print

The Council in its 238th (adjourned) meeting held on Saturday, the 17th September, 2016 noted various serious and grave financial and other irregularities and non-compliances committed at WIRC including non-approval of annual accounts and non-holding of annual general meeting.

MCA staff to submit Income Tax calculations for F.Y. 2016-17

October 18, 2016 2455 Views 0 comment Print

Cash Section is in the process of calculation of Income Tax for the financial year 2016­17. In view of this, all the officers/members of the staff, whose annual income exceeds Rs.2,50,000/- are requested to furnish the information in the enclosed proforma (Annexure-I,II &III)

ICAI admits revision of marks by its Examination Committee

October 18, 2016 32467 Views 10 comments Print

It is seen that upon receipt of certified copies of answer books, some candidates notice that in some papers, marks awarded to them on the answer books are at variance with those on the statement of marks issued to them and seek clarifications.

Problems? – Never Heard Of Them

October 18, 2016 5746 Views 13 comments Print

Basic human psychology is that if we are given any challenge in life, we will turn the world upside down to finish it. Why? Because we have been challenged

OFF Market IPO Application Sale- A way to earn Good Return

October 18, 2016 18499 Views 11 comments Print

One can earn 5-10% by selling of his filled IPO application forms in an off market transaction in a period of less than two weeks.

Downward Repo Rate Trend can be a key to future inflation outcomes!

October 18, 2016 2266 Views 0 comment Print

As everyone may be aware that Reserve Bank of India (RBI) has reduced the repo rate by 25bps to 6.25%. But first of all let us understand some of the terminologies and correlations which can help us interpret the effects of reduced repo rate.

Guidance note on Audit of Consolidated Financial Statements

October 17, 2016 13811 Views 1 comment Print

17.10.2016 Guidance Note on Audit of Consolidated Financial Statements (Revised 2016) issued by the Auditing and Assurance Standards Board – (17-10-2016) 1. The Council of the Institute of Chartered Accountants of India had issued Accounting Standard (AS) 21 ‘Consolidated Financial Statements’ which was subsequently notified as a part of the Companies (Accounting Standards) Rules, 2006 […]

Senior Citizens Welfare Fund (Amendment) Rules, 2016

October 17, 2016 4177 Views 2 comments Print

Government herby makes the following rules to amend the Senior Citizens’ Welfare Fund Rules, 2016, namely:- 1. (1) These rules may be called the Senior Citizens’ Welfare Fund (Amendment) Rules, 2016.

Deemed demerger of Company ceased to be public sector company

October 17, 2016 3079 Views 0 comment Print

Reconstruction or splitting up of a company which ceased to be a public sector company as a result of transfer of its shares by Central Govt into separate companies, shall be deemed to be a demerger if following conditions are fulfilled

Works Contracts under GST

October 17, 2016 128692 Views 25 comments Print

During last 5 decades law relating to works contract is driven more by judicial pronouncements & GST is opportunity for legislature to end uncertainty.

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