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No Change in CA Exam schedule – ICAI

May 10, 2013 486 Views 0 comment Print

Candidates in the examination centres in Patna appearing for Intermediate (Integrated Professional Competence) Examination may note that, owing to the rally called by some political party (ies) on 15th May 2013

ICAI to take action against students pursuing additional course in violation of its guidelines

May 8, 2013 4014 Views 0 comment Print

As you are aware, the Council of the Institute, under Regulation 65 of the Chartered Accountants Regulations, 1988 has permitted Articled Assistants to pursue/attend, with prior permission to be obtained from concerned Decentralised offices

ICAI to conduct Mock Tests for CPT students for June, 2013 Examination

May 8, 2013 3018 Views 0 comment Print

With a view to further encourage the students to evaluate their preparation for the examination, the Board of Studies has prepared CPT Mock Test Papers for CPT students to assess their preparation for the main examination to be held on 16th June, 2013.

CBI court imposed 3 Crore Fine for cheating of 33 Lakhs

May 5, 2013 2294 Views 0 comment Print

The Special Judge for CBI Cases, Chennai has convicted Shri. R. Lakshmi Narasimhan, then Assistant Manager of Indian Overseas Bank, Mylapore Branch ,Chennai to undergo Rigorous Imprisonment for seven years with a fine of Rs 3 crore. His brother Shri R.Gurumurthy and his father Shri. N.Radhakrishnan ( private persons ) have been sentenced to undergo three years Rigorous Imprisonment with fine of Rs. 20,000 each .

Service tax on Takeaway Eating Joints

May 4, 2013 3332 Views 0 comment Print

Prior to 01.04.2013, service tax was leviable on restaurants satisfying two conditions namely (i) the facility of air-conditioning or central heating in any part of the establishment, at any point of time during the year, and (ii) a license to serve alcoholic beverages. With effect from 01.04.2013, condition number (ii) stands deleted. Accordingly service tax […]

Tax Audit, Transfer pricing Audit & S.115JB Report to be filed online from A.Y. 2013-14

May 3, 2013 4002 Views 0 comment Print

CBDT has vide Notification No. NOTIFICATION NO. 34/2013, DATED 1-5-2013 provided that where an assessee is required to furnish a report of audit under sections 44AB, 92E or 115JB of the Act, he shall furnish the same electronically.  Online filing of following audit reports shall be mandatory in following cases: (a)  Tax Audit report under […]

Monetary Policy Statement 2013-14- RBI cuts repo rate by 0.25%, CRR unchanged

May 3, 2013 1960 Views 0 comment Print

Based on an assessment of the current and prospective macroeconomic situation, we have decided to reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 7.5 per cent to 7.25 per cent.

Check MVAT Return periodicity for FY 2013-14

May 3, 2013 7068 Views 0 comment Print

Department of Sales Tax, Maharashtra State has displayed the return periodicity for the FY 2013-14 on their website. Enter your VAT TIN No. in the first box with ending V and click SEARCH. After result is displayed, click on the TIN No. appearing below.  To check your periodicity, visit mahavat.gov.in

FM threatens tax evaders, says crackdown looming

May 3, 2013 1190 Views 0 comment Print

In a strong message to tax evaders, the government today said that it will step up efforts to bring more people into net and also endeavour to recover tax arrears.Between January and March…we issued notices after mining the data and thanks to the advertising campaign, I have added 50 lakh more taxpayers into the tax […]

OECD – Draft handbook on transfer pricing risk assessment

May 3, 2013 1358 Views 0 comment Print

In November 2011, the Steering Committee of the OECD Global Forum on Transfer Pricing undertook a project on transfer pricing risk assessment. The objective of this project was to produce a practical handbook that provides clear and detailed steps countries can take to assess the transfer pricing risk presented by an individual taxpayer’s operations. The […]

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