1) Rate of Service Tax Finance Bill, 2015 has proposed increase in rate of Service Tax from 12.36% to 14%. News reports are being broadcasted and published stating that the rate has been increased from 01st April 2015, are incorrect. These reports have caused wide spread confusion amongst all. In order to clear the confusion, […]
Admit cards in respect of all eligible candidates admitted to the Intermediate (IPC) and Final May 2015 examination, with their photographs and signatures on them, are hosted on www.icai.nic.in. Candidates may print their admit cards from the said website.
Circular No. 12/2015-Customs, Dated- 9th April, 2015 As a trade facilitation measure, it is decided that importers may file refund claim of 4% SAD refund in terms of notification No. 102/2007-Customs dated 14.09.2007 at the Customs stations where imports are made. However, the number of such claims at a Customs station shall be limited to one in a particular month.
Completion of Bank Branch Audits for the year 2014-15 – ICAI It has come to our notice that Public Sector Banks do put pressure on their branch auditors to complete their audits in the first 7 or 10 days of April itself. We strongly feel that providing such limited time for completion of audits leads […]
Notification No. 26/2015-Customs Dated- 9th April, 2015 The following goods, required for the Airborne Early Warning and Control (AEW&C) System Programme of Ministry of Defence,- i) aircrafts, aircraft parts, aircraft engines, aircraft engine parts, including ground handling equipment of aircrafts for defence use;
In cases where the effective yield (effective rate of return) on tax free bonds is greater than the prevailing yield of one year, three year, five year or ten year Government Security closest to the tenor of the loan, there is no violation of sub-section (7) of section 186 of the Companies Act,2013.
The extant FDI policy for Insurance sector has since been reviewed and further liberalized. Accordingly, with immediate effect, FDI in Insurance sector shall be permitted up to 49% subject to the revised conditions specified in the Press Note 3 (2015 Series) dated March 2, 2015.
SEBI, vide Circular No. CIR/CFD/POLICY CELL/2/2014 dated April 17, 2014, amended the provisions of Clause 49 of Listing Agreement relating to Corporate Governance, mandating, inter-alia, that the Board of Directors of listed entities shall have an optimum combination of executive and non-executive directors with at least one woman director.
NSDL is yet to release FVU for quarterly statement in form 24Q to be filed for the quarter ended on 31st MARCH 2015. Earlier version 4.5 of FVU does not support changes brought out in law through Finance Act 2014 (Part-II) for example; It does not allow higher deduction of 1.50 lac u/s 80CCE
ANNOUNCEMENT ON CARO, 2003 AND ADDITIONAL REPORTING UNDER THE COMPANIES ACT, 2013 We are receiving queries from the members regarding applicability of CARO, 2003 along with Auditors’ Report on financial statements of companies for the financial year 2014-15. The Ministry of Corporate Affairs (MCA) is working on it and has constituted a Committee for this […]
