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Recognition of Deferred Tax Assets for Unrealised Losses Proposed amendments to IAS 12

September 9, 2014 1054 Views 0 comment Print

Recognition of Deferred Tax Assets for Unrealised Losses Proposed amendments to IAS 12 (Last date for sending comments: October 9, 2014) – (09-09-2014) This Exposure Draft, published by the International Accounting Standards Board (IASB), contains proposed amendments to IAS 12, Income Taxes. The proposed amendments are in response to a request to the IFRS Interpretations […]

R. Sekar Launches Book on Service Tax

September 5, 2014 10639 Views 0 comment Print

R. Sekar, Commissioner of Service Tax, Mumbai released the Book – Law of Service Tax in India, (August, 2014) authored by Jaipur based Chartered Accountant and Service Tax expert Dr. Sanjiv Agarwal at a function in Mumbai. This new book on Service Tax is a set of two volumes comprising of whole gamut of law […]

Empanelment with SBI of Concurrent Auditors for Branches situated in the States of Telangana & Andhra Pradesh

September 4, 2014 2545 Views 0 comment Print

Applications are invited from Partnership firms of Chartered Accountants (situated in Telangana & Andhra Pradesh) for carrying out Concurrent Audit on full time, contractual basis (renewable every year, at Bank’s discretion) at its selected Branches / Offices /Processing Centres situated in the State of Telangana and Andhra Pradesh, as under:

Publicise Income Tax Exemption to PM's Relief Fund – PMO

September 4, 2014 2595 Views 0 comment Print

Prime Minister’s National Relief Fund (PMNRF) was constituted in January, 1948 to assist displaced persons from Pakistan. The resources of the PMNRF are now utilized primarily to render immediate relief to the affected families of those killed/ injured in natural calamities like floods, cyclones and earthquakes, etc, or in the major accidents/ riots.. The fund is also utilized to provide financial assistance for medical treatment

Non-Receipt of Chartered Accountant Journal

September 3, 2014 20650 Views 4 comments Print

Non-Receipt of The Chartered Accountant Journal This is for the information of Members/subscribers who fail to receiveThe Chartered Accountant journal despatched to them either due to un-intimated change of address or postal problems. Members and Students are requested to inform the respective regions immediately after you change the address to ensure regular and timely delivery […]

No Restriction on No. of Partners for Firm of CA, CMA, CS

September 3, 2014 10560 Views 0 comment Print

Raising of number of partners in CA Firm with reference to the provisions of Companies Act, 2013. – (02-09-2014) The Council of the Institute has clarified that the earlier restriction of maximum of 20 partners permitted for firms under section 11 of the Companies act, 1956 is no more applicable to the firms as Section […]

ICAI provides opportiunity to correct mistakes in November-2014 Online Exam Forms

September 2, 2014 6813 Views 0 comment Print

It is seen that candidates while filling the exam forms ( either online or physical) do not exercise reasonable care and commit errors. This creates lots of difficulties for them as well as the office at Admit Card stage and thereafter.

ICAI President's Message September 2014

September 2, 2014 1210 Views 0 comment Print

Integrated Reporting for Corporates— New Era The International Integrated Reporting Council (IRC) is working towards making the integrated report a corporate reporting norm. In this direction, the IRC has released The International Framework to establish guiding principles and content elements that govern the overall content of an integrated report, and to explain the fundamental concepts.

CBDT Forms Committee to approve any action proposed by AO to tax indirect transfer due to retrospective-amendment

September 2, 2014 2657 Views 0 comment Print

Vide the Finance Act, 2012, certain clarificatory amendments were introduced in clauses (14) and (47) of section 2, in clause (i) of sub-section (1) of section 9 and in section 195 of the Income-tax Act, with retrospective effect from 01.04.1962 in relation to transfer of assets. For the proper administration of these provisions of the Act, the Central Board of Direct Taxes (CBDT), in exercise of its power u/s 119 of the Act, hereby directs the following:-

ICAI extends time period to complete ITT and Orientation Course

August 30, 2014 1125 Views 1 comment Print

It has been brought to the notice of the Council that some students registered under Direct Entry Scheme between 01.08.2012 and 31.01.2013 for the Intermediate (Integrated Professional Competence) Course could not comply with regulatory requirements relating to Information Technology Training (ITT) and Orientation Course(OP).

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