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Disclosure of names / addresses of Interview Board members may endanger their lives : SC

September 2, 2013 2887 Views 0 comment Print

The Bihar Public Service Commission (for short, ‘the Commission) published advertisement No.6 of 2000 dated 10th May, 2000 in the local papers of the State of Bihar declaring its intention to fill up the posts of ‘State Examiner of Questioned Documents’

No Section 14A / Rule 8D Disallowance of Interest If Income Exceeds Expenditure

September 2, 2013 4981 Views 0 comment Print

During the course of assessment proceedings, Assessing Officer noticed that Assessee has made investment in shares amounting to Rs. 95,45,400/-. Assessing Officer was of the view that the investment would generate exempt income and therefore provisions of section 14A becomes applicable.

Forms 15CA & 15CB changed again; no reporting of exempt income, no filing of form 15CB for certain payments

September 2, 2013 130736 Views 14 comments Print

Notification No. 67/2013 – Income Tax DATED 2-9-2013 Income-tax (14th Amendment) Rules, 2013 – Furnishing of information by the person responsible for making any payment including any interest or salary or any other sum chargeable to tax, to a non-resident, not being a company, or to a foreign company

Bachelor Tenants – Prohibited In A Society

September 1, 2013 57588 Views 12 comments Print

Every citizen of India and non-citizens, have been granted fundamental rights under the Indian Constitution, to stay (reside) anywhere in India, BUT except in prohibited and restricted areas. 01.   EMERGING TREND: a) In Metropolitan /Industrialized Cities (e.g.  Mumbai, Pune …. ),  a new nefarious and knee-jerk whimsical concept of Prohibiting /Banning “Bachelor Tenant”, from staying […]

Unmatched TDS challans in form 26AS to be verified & corrected by 31-12-2013 : CBDT

September 1, 2013 10156 Views 0 comment Print

The. Hon’ble Delhi High Court vide its judgement in the case ‘Court On its Own Motion vs. UOI and Ors’ (W.P. (C) 2659/2012 & W.P. (C) 5443/2012 dated 14.03.2013) has issued seven mandamuses for necessary action by Income-tax Department, one of which is regarding the issue of ‘Unmatched Challans’ reflected in Form 26AS where the report by the deductor in the TDS statement are not found available in the OLTAS database resulting in TDS mismatch.

Refresher On Companies Bill 2013

September 1, 2013 4446 Views 0 comment Print

CS S. Dhanapal With the approval of Companies Bill by Rajya Sabha (the Upper house of Parliament) and assent by Honourable President, Corporate India has found its true independence. Indian Corporate Sector which was reeling under the age old Companies Act, 1956 has got a fresh lease of life and the old legislation has got […]

CMA President Communique for August, 2013

September 1, 2013 408 Views 0 comment Print

I am deeply honoured and privileged to address one and all in my CMA fraternity, well-wishers and guides through this esteemed column on my assuming as the 56th President of the Institute.

Steps taken by govt to curb Fraudulent Activity by Companies

September 1, 2013 1172 Views 0 comment Print

Fraudulent Activities by Companies                        The Ministry of Corporate Affairs has received complaints against certain companies for allegedly defrauding investors by offering high returns. Giving this information in written reply to a question in the Lok Sabha recently, Shri Sachin Pilot, Minister of Corporate Affairs, said that during the last three years and the current […]

No Proposal to convert Idle Gold into Bullion: RBI clarifies

August 31, 2013 997 Views 0 comment Print

There have been some news stories in the media in the last couple of days about the Reserve Bank of India discussing/considering various options of converting idle gold, including that available with temple trusts, into bullion. The Reserve Bank clarifies that no such proposal is under its consideration at this juncture. Alpana Killawala Principal Chief […]

No need to Panic on Rupee and Economic Front : ICAI President

August 31, 2013 2576 Views 0 comment Print

ICAI President’s Message – September 2013 – (30-08-2013) Dear Friends, I sincerely express our gratitude to everybody who has helped in shaping the journey of the accountancy profession of India in the past. I would extend my deep appreciation to all of them for their sheer sense of wisdom and keenness to guide our profession, […]

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