The reopening has basically been done for two reasons – the first one being the alleged difference between Unsecured Loans from Directors in the Balance Sheet and Unsecured Loans from Directors in Audit Report under Form 3CD; and the second one
The Reserve Bank of India has notified Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 to prohibit, restrict or regulate, transfer or issue security by a person resident outside India.
This circular RBI/2015-16/122 dated July 9, 2015 has been issued in continuance of DNBS (PD) CC.No.376/03.10.001/2013-14 and Notification No. DNBS (PD) 275/GM(AM)-2014 dated May 26, 2014 wherein ‘Non-Banking Financial Companies (Approval of Acquisition or Transfer of Control) Directions, 2014’ have been given.
This is to inform that Multipurpose Empanelment Form for the year 2015-16 has been made live at www.meficai.org. Last date for submission of online form is 31st August, 2015 and the last date of submission of hard copy of “DECLARATION FOR MEF 2015-16” is 15th September, 2015.
As per rule 12 of the Income-tax Rules, in case of individuals and certain other specified taxpayer, returns may be filed electronically followed by submission of signed paper copy of ITR-Verification form (ITR-V). However, to provide end-to-end enabled services to the tax payers, a facility has been introduced for electronic verification of the Income-tax Returns […]
ICSI has issued on the basis of Queries received by it Responses to Queries received on Secretarial Standards on Board Meetings (SS-1) and on Secretarial Standards on General Meetings (SS-2) Link to Download Frequently Asked Questions and Answers Directly from ICSI Website on is as follows :- Responses to Queries received on Secretarial Standards on […]
Part II of the Standard Operating Procedure (SOP) (Part I – 08.07.2015) for making application for claim of tax exemption u/s 11(1)(c) of the Income-tax Act, in respect of remittance of money/relief articles by Indian NGOs/Charitable Organisations for earthquake hit people in Nepal -.
Stating that there is a significant difference between the audit environment in India and in the international institutions the CAG advised to use appropriate language while drafting the management letters. He further advised the Audit fraternity to maintain professional scepticism and strike a fine balance; be open‐minded and carefully consider the views of the management.
The Department of Industrial Policy & Promotion (DIPP), Government of India has launched extensive international & domestic media campaigns under the ‘Make in India’ initiative. The ‘Make in India’ Logo and other related proprietary material are valuable assets of DIPP.
Circular No. 1005/12/2015-CX It may, therefore, be noted that the domestically manufactured goods covered under these notifications / entries continue to be exempt from excise duty or subject to concessional rate of excise duty, as the case may be as they were prior to 17th July, 2015.
