PROBLEMS IN PRESENT SYSTEM & THEIR SOLUTIONS- A) PROBLEM: Category IV) CA firms gets very less proportion of bank audit. Many CATEGORY II) / III) Firms are not getting appointments even after 4-5 years. Many Firms are not getting appointments even after 6-7 years.
The matter has been examined by the Board. Regulation 8 of CBLR, 2013 mandates that before granting the licence under regulation 7, the Commissioner of Customs shall require the successful applicant to enter into the bond and
In exercise of powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992) read with paragraph 1.3 of the Foreign Trade Policy, 2009-2014, as amended from time to time, the Central Government hereby exempts export of the following items to Bhutan from any export ban.
In exercise of powers conferred by sub-section (1) and sub-section (2) of section 396 of the Companies Act, 2013 (18 of 2013), the Central Government hereby establish the office of the Registrar of Companies at Hyderabad having territorial jurisdiction in the whole State of Telengana for discharging the functions of the Registrar of Companies under the various provisions of the said Act and appoints the Registrar of Companies, Hyderabad as Registrar of Companies for the purpose of registration of companies under the said Act in the State of Telengana.
The member(s) of ICAI should not host, display, upload, modify, publish, transmit, update, forward or share any information, in any form which is harmful, harassing, defamatory, indecent, immoral or invasive of another’s privacy, dignity or prestige or hateful, causing insult or injury or otherwise unlawful in any manner against the Institute and/ or its members.
The matter has been examined in light of the relevant provisions of the Act, particularly sections 179 & 180 and regulation 71 of Table “F” of Schedule I and it is clarified that a committee of directors may exercise such powers, subject to any regulations imposed by the Board in this regard.
Provided further that public companies covered under this rule shall constitute their Nomination and Remuneration Committee within one year from the commencement of these rules or appointment of independent directors by them, whichever is earlier
Reversal of Input tax credit on sale of by-products amounts to double taxation and also exceeds the outer limit of taxability prescribed under the Act Specially in Sheller Trade which is clear cut violation of Article 286 of the Constitution of India.
ICAI in its -Budget Memorandum – 2014 on Direct Taxes suggested imposition of TCS @1% on sale of all motor vehicles to increase the tax base in India. Issue/Justification India was the sixth largest motor vehicle/car manufacturer in the world in 2012. The sales of motor vehicles have increased manifold times since 2009. In fact […]
Issue/Justification There are classes of persons who are filing income tax returns but are not declaring their income properly. Either the income is suppressed or various deductions are being claimed which are not legally permissible. With the increase in the work of the Department it is not practicable to scrutinize each and every return. Taking […]
