All my friends. Settle down let me talk, I will get more and more emotional (crowd gets louder and louder as he composes himself). My life, between 22 yards for 24 years, it is hard to believe that that wonderful journey has come to an end,
The ICAI has issued this exposure draft on Investment Entities which includes amendments to Ind AS 110 Consolidated Financial Statements, Ind AS 112 Disclosure of Interests in Other Entities and Ind AS 27 Separate Financial Statements. The exposure draft is open for public comments till 13 December 2013. Download Exposure Draft on Investment Entities (Amendments […]
There has been some turmoil in financial markets across the world as fears of a sooner-than-anticipated Fed tapering have grown. In India, we have had added volatility as the market has become concerned about policy rates and about oil marketing company demand for dollars.
Much awaited form 26B for online request for refund of Excess TDS deposited has been enabled on TRACES. To apply online please login to TRACES After Logging Deductors can navigate to ‘Statement / Payments’ -> ‘Request for Refund’
Certain enquiries are being received as regard to the holding of examination on 15th November, 2013 since the same has been declared as a holiday on account of Muharram.
The Ministry of Finance of the Republic of India has issued a press release on November 1st, 2013 stating that it has taken the decision to notify Cyprus as a notified jurisdictional area under section 94A of the Income-tax Act, 1961.
It has been observed that deductors are wrongly entering the tax amount deducted on sale of property in ‘interest’ or ‘others’ or ‘fee’ column while making the e-payment. Accordingly, zero TDS credit will appear in Form 16B.
While accepting a Correction Statement at TDS CPC, it is checked that ‘Total Tax Deposited’ is greater than or equal to the ‘Summation of Deductee Deposited Amount in Annexure I against that challan plus Interest plus Others plus Late Filing Fee’. However, a number of Correction Statements have been rejected due to above reason.
Some SMEs start their business in a proprietary form. This form of business has smallest compliance cost but it is riskier than any other form of business. A new format of Business is One Person Company created under the Companies Act, 2013.
We would like to inform that Draft Bank Branch Auditors panel for the year 2013-14 has been hosted on www.meficai.org and the same will be available till 6th November, 2013 (no extension possible under any circumstances).
