SME....!!! A New Opportunity for Private Company..!
Posted Date : 26-Apr-2016 , 04:39:26 pm | Posted By
Meetesh Shiroya
In the Present era, the market is booming up so every Company want to take opportunity to earn more from the same market and want to get maximum benefits out of that, so what are the ways available for Company to avail such benefits. So for that, Private Company has to change its Mission as well as ...
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Category : Income Tax |
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Highlights of Companies Amendment Act 2015
Posted Date : 24-Apr-2016 , 10:46:25 pm | Posted By
Ankur Kumar Gupta
The Indian Government is actively working to improve ease of doing business in India. Key initiative in this aspect is the Amendment to Companies Act, 2015 to make it more business or investor friendly. The Companies Amendment Bill, 2015 was passed in Lok Sabha on 17/12/2014 and it was passed in the...
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Category : Corporate Law |
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0 | Hits : 986 |
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Transparency required in allotment of PSU and Bank Audit
Posted Date : 23-Apr-2016 , 12:05:30 am | Posted By
CA Gopal Rathi
Dear CA friends,
Arbitrary criteria exist for the allotment of audit of public sector units. Every department made their own different rules and conditions for appointment though there is existence of ICAI Multipurpose empanelment form(MEF).
There is something which is hidden and n...
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Category : RBI |
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3 | Hits : 3846 |
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Rule 6(3): Cenvat Credit Rules
Posted Date : 22-Apr-2016 , 10:44:07 pm | Posted By
Sunil Kumar
CENVAT CREDIT AVAILABLE VS CENVAT CREDIT TAKEN
ALARMING AMENDMENT IN RULE 6(3) OF CENVAT CREDIT RULES
(a) A manufacturer who manufactures two classes of goods namely:-
Non exempted goods removed
Exempted goods removed
Or
(b) a provider of output service who provides two c...
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Category : Service Tax |
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0 | Hits : 2081 |
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SECTION 115JB OF THE INCOME TAX ACT
Posted Date : 20-Apr-2016 , 02:36:51 pm | Posted By
Manshi Baid
SECTION 115JB OF INCOME TAX ACT, 1961
SPECIAL PROVISION FOR PAYMENT OF TAX BY CERTAIN COMPANIES - (AFTER BUDGET 2016)
This section is nothing but the Minimum Tax that a company is required to pay. This section provides that in case the tax payable by a company is less than 18.5 ...
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Category : Income Tax |
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0 | Hits : 1180 |
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Death of the Independence of the auditor
Posted Date : 19-Apr-2016 , 01:25:07 pm | Posted By
CA GOURAV MURARKA
Forwarded mail copy as received : Very serious allegations by Chartered Accountant on independence of Auditor. 15th April 2016 To The AGM Audit Patna Circle State Bank of India
Sub: Death of the Independence of the auditor
Dear Sir,
Our Team for Statu...
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Category : Auditing |
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0 | Hits : 1766 |
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Accountants as Surveyors & Loss Assessors
Posted Date : 17-Apr-2016 , 09:40:06 am | Posted By
Shiba Prasad Padhi
CMA Shiba Prasad Padhi, AIIISLA, FIII, FCMA Practicing Cost Accountant and Licensed SLA Declaration: The Article written is original and in individual capacity. Source of Data: IRDA Website Accountants as Surveyors & Loss Assessors Sec. 64UM of the Insurance Act, 1938 provid...
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Category : General |
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0 | Hits : 2413 |
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Professional Opportunities - Excise on Jewellery World
Posted Date : 31-Mar-2016 , 07:19:12 pm | Posted By
Darshan Jain
The scheme of levy and collection of Central Excise duty on articles of Jewellery is as under:
(a) The levy and collection of Central Excise Duty is on the manufacture of Jewellery (excluding silver Jewellery, not studded with diamonds, ruby, emerald or sapphire).
(b) It is applica...
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Category : Excise |
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1 | Hits : 2190 |
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How to increase authorized capital of company
Posted Date : 29-Mar-2016 , 03:54:15 pm | Posted By
Monetic$123
What is the most important attribute for enterprises and businesses serving on different verticals? What is the prime source for measuring the growth and development of the company? The answer is one and only the capital of company. Read this article which exclusively focuses on the subject - pertai...
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Category : General |
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0 | Hits : 694 |
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Secretarial Audit for PSU banks
Posted Date : 28-Mar-2016 , 01:56:07 pm | Posted By
MEENU GUPTA
NON-PERFORMING ASSETS (NPAs)
Secretarial Audit for PSU Banks
Stressing accounts of PSUs to be reduced by ‘Secretarial Audit’ & ‘Due Diligence’ by Practicing Company Secretary
The RBI data revealed the rise in Stressed assets of PSU Banks the most with 14% of Advances ...
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Category : NPA |
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0 | Hits : 2684 |
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Tax Ready Reckoner for Investments - FY: 2015-16:
Posted Date : 26-Mar-2016 , 04:20:31 pm | Posted By
CA GOURAV MURARKA
Tax Ready Reckoner for Investments - FY: 2015-16:
EQUITY:
Stocks:
1. If you hold on to them for a year, the long-term capital gain is tax free
2. Short-term capital gain is taxed at 15%
3. Dividends are tax free
DEBT FIXED INCOME INSTRUMENTS:
Savings a/c:
1. I...
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Category : Income Tax |
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0 | Hits : 1165 |
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Service Tax RCM on Works Contract
Posted Date : 25-Mar-2016 , 12:27:55 pm | Posted By
Pankaj Jaiswal
Date : 19.03.2016
M/s. ABC LLP ( Service Provider )
M/s. XYZ Limited ( Service Recipient )
Ref: Service Tax on Works Contract and RCM
Opinion
Before giving opinion on the issues it will be useful to refer the questions related with this transaction. Assume ABC is...
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Category : Service Tax |
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0 | Hits : 3071 |
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Clarifications on Excise imposed on Jewellery
Posted Date : 09-Mar-2016 , 12:24:38 pm | Posted By
Darshan Jain
Clarifications on Excise imposed on Jewellery
The strike by bullion traders and jewellers continued for the 8th day to protest the Budget proposal to impose one per cent excise duty(without input tax credit) on Jewellery, despite the Centre's assurance that it would look into the issue. Most...
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Category : Excise |
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0 | Hits : 1453 |
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What would be reason for Huge Losses of PSB with some facts
Posted Date : 03-Mar-2016 , 12:35:45 pm | Posted By
Darshan Jain
SOME IMPORTANT FACTS – CONCEPTS – AUDIT PROCEDURE IN BANKING
Executive Summary: - Banking sector is the backbone of the economy. But now a days it is a major weak sector. What would be the probable reason for the same, i wanted to highlight the same. Since the weakness is in whole secto...
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Category : Banking |
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0 | Hits : 1391 |
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Ye To Jaitley Ka BUDGET Hai…!!!
Posted Date : 29-Feb-2016 , 06:56:28 pm | Posted By
Meetesh Shiroya
INTRODUCTION :
As we expect more from Budget but once again we have to wait for another year where we can expect that more changes will be done as per our expectation and Tax Payer will be Happy.
As simple, the budget neither gives any benefits nor provide any special provision to the ...
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Category : Budget |
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0 | Hits : 1979 |
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Now One Person Company (OPC) to be registered as a stock broker/sub-broker
Posted Date : 22-Feb-2016 , 07:44:05 pm | Posted By
Mayank Agarwal
Now One Person Company (OPC) to be registered as a stock broker/sub-broker
Introduction: The Companies Act, 2013 has introduced new concept of One Person Company. It enables the sole-proprietor to do business as like corporate. Companies Act, 2013 provided various relaxations to OPC like exemptio...
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Category : Shares & Stock |
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Assessee cannot be asked to reverse input tax credit due to non-payment of taxes by the selling dealer
Posted Date : 22-Feb-2016 , 04:51:44 pm | Posted By
CA Bimal Jain
Sri Lakshmi Textiles Vs. the Commissioner of Commercial Taxes and Others [2016 (1) TMI 329 - MADRAS HIGH COURT] Facts: Sri Lakshmi Textiles(“the Petitioner”) is a partnership firm engaged in the business of inner garments and textiles registered under Tamil Nadu Value Added Tax Act, 20...
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Category : VAT |
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0 | Hits : 1347 |
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No bar on admissibility of Cenvat credit either as Inputs or Capital goods at any stage of proceedings
Posted Date : 18-Feb-2016 , 06:35:02 pm | Posted By
CA Bimal Jain
Dear Professional Colleague,
No bar on admissibility of Cenvat credit either as Inputs or Capital goods at any stage of proceedings
We are sharing with you an important judgment of the Hon’ble CESTAT, Kolkata in the case of Tata Steel Ltd. Vs. Commissioner of Central Excise, Jamshedpur [(201...
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Category : Excise |
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0 | Hits : 1721 |
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Comparison between CARO 2015 & CARO 2016
Posted Date : 18-Feb-2016 , 04:26:53 pm | Posted By
Mayank Agarwal
Particulars
CARO, 2015
CARO, 2016
Change
Remark
Date of Release
10th April, 2015
To be published
------
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Applicable form
FY on or after 1st April, 2014
FY 2015-16 onwards
Applicability in respective FY
Special care be taken in case of Audit of more than one FYs
...
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Category : Companies Act |
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0 | Hits : 11703 |
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Basics of Risk Assessment
Posted Date : 18-Feb-2016 , 01:59:11 pm | Posted By
Hemang Doshi
Basics of RISK ASSESSMENT
Million Dollar Question: What is RISK? The reason why I refer it as a million dollar question lies in
definition(s) of term ‘RISK’. The term ‘RISK’ has been defined in multiple ways and it can be
accommodated anywhere anytime and in any situation ...
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Category : Auditing |
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0 | Hits : 809 |
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