Book on Standards on Auditing

Book on Standards on Auditing Relevant for CA FINAL students. Now learn Standards on Auditing with very ease. All the standards explained with diagrams and summarised. Prepared with expertise and key words highlighted. Shipment by May end. Relevant for Nov, 17 exams and onwards. Price: Rs. 350/- Rs. 300/- Freight: Rs. 50/- To purchase: CLICK HERE

NEW RELEASES : ONLINE LAW SOLUTIONS

PRE-BOOK OUR NEW RELEASES TO AVAIL DISCOUNT Prices are reduced only till the books/services is released. MONTHLY JOURNAL – HARD COPY Monthly Journal covers article on important topics, amendments in Income Tax, GST, Customs, other Indirect Taxes, Company Law, SEBI, RBI, EPF/PF/ESI etc. Journals will be shipped on or before 15th of relevant month. Journals will be sent from May, 17 onwards. MRP: Rs. 1800/- Rs. 1400/- (12 issues) Freight: Rs. 600/- To purchase: CLICK HERE   MONTHLY JOURNAL – E-COPY Monthly Journal covers article on important topics, summarised amendments in Income Tax, GST, Customs, other Indirect Taxes, Company Law, SEBI, RBI, EPF/PF/ESI etc. Journals will be sent on or before 15th of relevant month. Journals will be sent from May, 17 onwards. MRP: Rs. 1200/- Rs. 800/- (12 issues) To purchase: CLICK

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Government may soon allow 100% FDI in cash, ATM management companies 

  Cash and ATM management companies will soon be allowed to attract 100 per cent foreign direct investment as they are not required to comply with the Private Security Agencies (Regulation) Act (PSARA). A clarification to this effect is likely to be issued by the home ministry shortly. The clarification will be against the backdrop of the confusion among firms in cash and ATM management relating to compliance with the Act, under which they can receive FDI only up to 49 per cent. The issue was discussed at a meeting convened by the Prime Minister’s Office (PMO) last month. “In that meeting, it was decided that the home ministry would be asked to issue a clarification that these companies will not have to comply with PSARA and would be eligible

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GST: Government looking to keep single rate for each product group to avoid complexity

  After having opted for multiple rates under the upcoming goods and services tax (GST) regime, India is now looking to keep variations in rates on the same types of products at a minimum to ensure that the tax structure does not get any more complicated. For example, all types of footwear or mobile phones could attract the same rate. “Single rate for one product group will bring simplicity in the structure and make implementation easier,” said a government official, adding that differing rate structures within one segment could lead to unnecessary disputes and litigation. GST is expected to be rolled out on July 1. Globally, most regimes have a single rate. India has adopted a four-tier tax structure of 5%, 12%, 18% and 28%. The rate applicable on most

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Doing Cash Transactions!! Here are Income Tax laws governing it

Now Income Tax Act covers both – Cash Receipt and Cash Payments. Disallowance of Cash Payments is only for business assesses but Penalty on Cash Receipt is on all types of person (exceptions are there). Sections governing Cash Payments: Sr. no. Transactions Sections Cap on cash transaction Penalty for cash transaction 1 Disallowance for cash expenditure 40A(3) Payment of any expenditure above Rs. 10,000 (amended by Finance Act, 17) No deduction Payments for plying, hiring or leasing of goods carriage above Rs 35,000 2 Determination of actual cost of asset 43(1) Payment above 10,000 for purchase of asset Such payment won’t be included in actual cost of asset (viz, No depreciation) 3 Investment linked deduction for capital 35AD Payment above Rs 10,000 for any capital expenditure No deduction   Sections governing

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Inclusion of “Derivatives on Equity shares” – IFSC

  CIRCULAR SEBI/HO/MRD/DRMNP/CIR/P/2017/31 April 13, 2017 All recognized Stock Exchanges and Clearing Corporations in International Financial Services Centres Dear Sir/Madam Inclusion of “Derivatives on Equity shares” – IFSC Securities and Exchange Board of India (International Financial Services Centres) Guidelines, 2015 were notified by SEBI on March 27, 2015, which came into force on April 01, 2015. 2. Clause 7 of SEBI (IFSC) Guidelines, 2015 specifies the types of securities in which dealing may be permitted by stock exchanges operating in IFSC. Based on the recommendations of the Risk Management Review Committee of SEBI, it has been decided to specify “Derivatives on equity shares of a company incorporated in India” (hereinafter referred to as ‘Derivatives on equity shares’) as permissible security under sub-clause (vi) of Clause 7 of SEBI (IFSC) Guidelines,

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Grant of ‘Certificate of Registration’ – For carrying on the business of credit information – Transunion CIBIL Limited

  RBI/2016-17/277 DBR.CID.BC. 60/20.16.040/2016-17 April 13, 2017 All Credit Institutions Dear Sir / Madam Grant of ‘Certificate of Registration’ – For carrying on the business of credit information – Transunion CIBIL Limited Please refer to our circular DBOD.No.CID.BC.84/20.16.042/2011-12 dated March 05, 2012 regarding grant of ‘Certificate of Registration’ to Credit Information Bureau (India) Limited and circular DBR.No.CID.BC.16/20.16.042/2016-17 dated September 29, 2016 issued consequent to change in name of the company to TransUnion CIBIL. 2. The Company has since shifted its office to the location below. Accordingly, we have issued a new ‘Certificate of Registration’ to it on April 13, 2017 to carry on the business of credit information. The new address of the Company is as follows: TransUnion CIBIL Limited One Indiabulls Centre, 19th Floor, Tower 2A & 2B, 841 Senapati Bapat Marg, Elphinstone

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Engagement of professional for implementation of GST for MSTC limited

  MSTC LIMITED ( A Government of India Undertaking ) 225C, AJC Bose Road, Kolkata-7000 20 Phone: 2289-842/43,22812878 e.mail –mstcindia@mstcindia.co.in Website : www.mstcindia.co.in FAX – 91 33 2290 7211, 2247 8547/4915 TENDER DOCUMENT For ENGAGEMENT OF PROFESSIONAL CONSULTANT FOR IMPLEMENTATION OF GOODS & SERVICES TAX (GST) Sr. No. Description Page No. 1. Schedule of Tender, NIT, Eligibility Criteria/Evaluation Criteria, Terms and Conditions, Tender Submission, Payment Terms, etc 1-15 Annexure –I Scope of Work and Deliverables 16-20 Annexure –II Format for Technical Evaluation 21 Annexure –III Proforma for Commercial/Price Bid 22 Annexure –IV List of Regions/Branches/Site Offices 23 Annexure –V No Deviation Statement 24 Annexure –VI Format of Integrity Pact 25-28 Exhibit-I Resume of the Firm 29 Exhibit-II Experience of the Firm 30 Exhibit-III Office details of the Firm 31 Exhibit-IV Composition of Professionals of the

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Notices for non-compliance with Section 148 / 233B of Companies Act, 2013- Reg.

  The Institution of cost Accountants of India (statutory body under an Act of parliament) H.Q: 12 sudder street, Kolkata-700 016 Delhi Office: 3 Institutional Area, Lodhi Road, New Delhi – 110 003 For information of Members Few Hon’ble Members of the Institute informed that they and their client companies have received letters/notices from the Courts and/or from the Cost Audit Branch or Registrar of Companies, Ministry of Corporate Affairs. These relate to purported non‐compliance with the provisions of Section 148 of the Companies Act, 2013 [or Section 233B of the Companies Act, 1956] and Rules made thereunder. In most cases, it has been brought to the notice of Institute that such letters/notices are unfounded owing to either non‐applicability of the relevant provisions, or having already complied with the relevant requirements. Notwithstanding

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Be prime facilitator for taxpayers in GST Migration: CBEC Chairman to Staff

  GOVERNMENT OF INDIA CENTRAL BOARD OF EXCISE AND CUSTOMS New Delhi Vanaja N. Sarna Chairman, CBEC DO.No.03/CH(EC)/2017, Dated 13th April, 2017 Dear Colleagues In this weekly newsletter, at the outset, I would like to congratulate all officers and staff of CBEC for putting in their best efforts resulting in exceeding the Revised Estimates (RE) for the financial year (FY) 2016-17 set by the government. As per the provisional figures, indirect tax collections are at Rs. 8,63,394 crore against the RE of Rs. 8,50,000 crore, which shows a robust growth of about 22% over actual receipts in FY 2015-16. In the current FY 2017-18, the indirect tax budget estimate (BE) has been pegged at Rs. 9.25 lakh crore, which I am confident you all will strive to achieve and continue to maintain

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