This is for kind information of the members that the last date for complying with the CPE Hours requirement for the Calendar Year 2015 – has been extended from 31st December, 2015 to 31st March, 2016.
The Government of India, in consultation with the Reserve Bank of India, has decided to issue second tranche of Sovereign Gold Bonds. Applications for the bonds will be accepted from January 18, 2016 to January 22, 2016. The Bonds will be issued on February 8, 2016. The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL) and designated post offices. The borrowing through issuance of the Bond will form part of market borrowing programme of the Government of India.
In case of PAN applications from non-individuals, Seal and/or Stamp is not required on PAN application Form 49A or 49AA or Form for Change or Correction.
Arising out of discussion on the Opening Remarks of the President, the Council at its 348th meeting held on 10th and 11th December, 2015 at New Delhi had authorized the President to constitute a Group to look into the definition of `Accountant’ and other services a CA can render. Accordingly, the President, in terms of the authority conferred to him by the Council, has constituted the said Group with the following composition:-
The result of the Chartered Accountants Final Examination held in November, 2015 and Common Proficiency Test (CPT) held in December, 2015 are likely to be declared on Sunday, the 17th January, 2016 around 2.00 P.M. and the same as well as the merit list (candidates securing a minimum of 55% and above marks and upto the maximum of 50th Rank in the case of Final Examination in accordance with the decision of the Examination Committee) on all India basis will be available on the following website:
It is hereby informed that in terms of decision taken by the Examination Committee, declaration of ranks in respect of Common Proficiency Test(CPT), has been discontinued with effect from CPT held in December, 2015 onwards.
The Department has modified the Annual Performance Appraisal Report (APAR) of assessing officers (Income Tax Officers as well as Assistant Commissioners/Deputy Commissioners of Income Tax) to bring about greater accountability in assessment functions. In the revised format, the performance of the assessing officers will also be specifically measured for quality of assessment, the pace of disposal, and efforts made towards widening of tax base.
While registering, a Subscriber will provide his/her name & Permanent Account Number (PAN) details which will be validated online with the Income Tax Department. Subscriber will then select the Bank (through which KYC verification to be done), fill up the personal details and upload photograph & signature.
Apex industry body ASSOCHAM has urged the Finance Ministry to keep all services provided for agricultural produce outside service tax ambit. Services like warehouse management, security, laboratory testing and others that are essential to secure storage of agri-produce should be included in the negative list or in the list of exempted services, recommended The Associated Chambers of Commerce and Industry of India (ASSOCHAM) in its pre-budget memorandum submitted to the FinMin.
The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 came into force with effect from 1st July, 2015. The Act provided for a one time compliance window to declare assets held abroad and pay due taxes and penalty on the value of assets declared.
