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Holding that bigamy is 'moral turpitude', the Madras high court has upheld the ban on a chartered accountant from practising on the ground of bigamy. P Mohanasundaram, a Chennai-based chartered accountant, was removed from the register by the Institute of Chartered Accountants of India in ...

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Category : ICAI | Comments : 0 | Hits : 856

We have uploaded below ITR 1- Sahaj, ITR 2, ITR 3, ITR-4, SUGAM (ITR-4S), ITR 5,   applicable for Assessment year 2013-14 and Financial Year 2012-13.   Popular key words -   ITR   Excel Format, ITR for A.Y. 2013-14, ITR for F.Y. 2012-13, ITR for Assessment...

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Category : Income Tax | Comments : 0 | Hits : 16219

The Reserve Bank of India has asked banks to bring in metropolitan areas under the lead bank scheme for the first time, a move aimed at providing to the urban poor doorstep banking and direct transfer of cash benefits under social welfare programmes. Financial exclusion is not merely a rural ph...

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Category : RBI | Comments : 0 | Hits : 195

Capital market regulator Sebi is trying to find a way to regulate large investors who place their trading servers within the exchange premises to gain a split second advantage - a practice that makes markets more vulnerable to flash crash. Better known as co-location, stock exchanges and o...

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Category : SEBI | Comments : 0 | Hits : 171

The Government proposes to provide 15% concession on investment of more than Rs. 100 crore on project and automation in manufacturing sector of the country from 1st April, 2013 to 31st March, 2015. In order to encourage substantial investment in plant or machinery, the Finance Bill, 2013 propos...

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Category : Income Tax | Comments : 0 | Hits : 229

Death-cum-Retirement Gratuity is paid to Central Government employees under New  PensionSystem (NPS) as it is paid under the old pension scheme. The monthly annuity under the New Pension System (NPS) is only a replacement of pension on retirement and family pension of death after reti...

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Category : General | Comments : 0 | Hits : 273

INCOME-TAX (THIRD AMENDMENT) RULES, 2013 – AMENDMENT IN RULE 12 & SUBSTITUTION OF FORMS SAHAJ (ITR-1), ITR-2, ITR-3, SUGAM (ITR-4S), ITR-4 AND ITR-V   NOTIFICATION NO. 34/2013 [F.NO.142/5/2013-TPL]/SO 1111(E), DATED 1-5-2013   In exercise of the ...

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Category : Income Tax | Comments : 0 | Hits : 877

Bollywood producer Ekta Kapoor's firm Balaji Telefilms has been found guilty of tax evasion of upto 30 crores. Three days ago, nearly 100 income tax officers raided the home and offices of Ms Kapoor in Mumbai. When she was interrogated, sources said that Ms Kapoor, whose father Jeetendra is a famo...

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Category : Income Tax | Comments : 0 | Hits : 508

The Reserve Bank of India (RBI) in its Monetary Policy Statement for 2013-14 cut repo rate by 25 basis points. The Cash Reserve ration ( CRR) was maintained at 4%. Most economists in an ET poll had already factored in a 25 basis points rate cut. On Thursday, R...

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Category : RBI | Comments : 0 | Hits : 268

The ministry of corporate affairs (MCA) has organised a meeting in Mumbai with chartered accountants (CAs), company secretaries (CSs) and cost accountants to understand performance issues with its MCA21 portal. The interactive meeting would take place on 6 May 2013...

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Category : Income Tax | Comments : 0 | Hits : 491

The Securities and Exchange Board of India (Sebi) has fined Reliance Industries group entity Reliance Petroinvestments (RPIL) Rs 11 crore for violating insider trading norms in the shares of erstwhile IPCL before its merger with RIL.   "It may be concluded that by virtue of RPIL having contro...

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Category : SEBI | Comments : 0 | Hits : 249

 India's strong dependence on external and short term debts for financing current account deficit remains a concern even as the deficit may be moderated in the fourth quarter due to fall in global commodity prices. Reserve Bank of India said volatility in such flows remains ...

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Category : RBI | Comments : 0 | Hits : 167

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 la...

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Category : Income Tax | Comments : 0 | Hits : 320

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.40/2013-CUSTOMS (N.T.), dated the 18th April, 2013 vide number S.O.993 (E)...

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Category : Custom | Comments : 0 | Hits : 245

The Northern Regional Office of ICAI is arranging Convocation – 2013 on 17th May, 2013 for the Members enrolled during the month of March, 2012 to August, 2012.  Scripts of Certificate of Membership and Certificate of Practice will be distributed in the presence of the President and Vice-...

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Category : ICAI | Comments : 0 | Hits : 1843

The Reserve Bank of India (RBI) has said chit fund companies which defraud people show the financial system’s failure to bring unbanked population into the formal system. “The fact that people have to rely on such entities (chit funds) for their saving needs indicates a failure on the p...

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Category : RBI | Comments : 0 | Hits : 240

The Finance Ministry has asked private sector insurer ICICI Prudential to cough up over Rs 130 crore for alleged evasion through non-payment of service tax. The Directorate General of Central Excise Intelligence (DGCEI) has issued a show-cause-cum-demand-notice recently to the firm alleging irregul...

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Category : Service Tax | Comments : 2 | Hits : 307

After getting cornered by the Supreme Court for scams and controversies for quite some time, the UPA government on Wednesday had something to cheer about with the apex court upholding the constitutional validity of its decision allowing 51% foreign direct investment in the multi-...

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Category : Finance | Comments : 0 | Hits : 221

Currently, sale in cash of bullion (excluding coin or any other article weighing 10 grams or less) in excess of Rs 2 lakh or jewellery in excess of Rs.5 lakh is subject to Tax Collection at Source (TCS) @ 1%. As coins were neither included in bullion nor in jewellery, therefore, coins, even when amo...

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Category : Income Tax | Comments : 0 | Hits : 667

CLCGC/V/1/2013 April 22nd, 2013   Certificate Course on Valuation, Examination to be held on 26th May, 2013 Dear Participants;Written Exams to be held on 26th May, 2013 (Sunday) from 10 AM to 1 PM . Please bring your membership card / Final year mark shee...

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Category : ICAI | Comments : 0 | Hits : 401

Tremors were felt in parts of North India as a mild earthquake hit Jammu and Kashmir. The epicentre of the earthquake, measuring 5.8 on the Richter scale, was the border of Jammu and Kashmir and Himachal Pradesh.   Tremors were felt in parts of North India including New Delhi and Punjab. Peop...

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Category : General | Comments : 0 | Hits : 528

Two competitive exams are now clashing with the University of Mumbai exams giving students a nightmare.   MCom final year paper (old syllabus) scheduled for May 2 clashes with CA exam on the same day. Optional papers of business studies, business economics, accountancy, business management, b...

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Category : Students Zone | Comments : 0 | Hits : 679

New norms have been put in place for Extensible Business Reporting Language (XBRL) filing with effect from 6thOctober, 2011 for select class of companies. For the financial years 2010-11 and 2011-12 a total of  2,90,39 and 2,57,86 companies respectively have filed their Balance S...

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Category : Corporate Law | Comments : 0 | Hits : 562

In a bid to counter tax evasion, the Finance Ministry is contemplating making it mandatory for individuals and Hindu Undivided Families (HUFs) to report Indian assets and liabilities in income-tax (I-T) return forms. "The government is considering to introduce a new income tax return form that will...

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Category : Income Tax | Comments : 0 | Hits : 862

Oil companies on Tuesday reduced the price of petrol by Rs. 3 per litre effective midnight, without taxes, after international prices cooled. Oil firms review the price of petrol every two weeks. While petrol price has been deregulated since June 2010 and the price is market determined, t...

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Category : General | Comments : 0 | Hits : 397

Government today said Enforcement Directorate (ED) is investigating alleged violation of foreign exchange regulation by cash and carry chain Bharti-Walmart.   "On the basis of a reference received from Reserve Bank of India, ED has taken appropriate action to investigate alleged contravention...

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Category : FEMA | Comments : 0 | Hits : 244

The government will cut the tax on interest payments to foreigners on government and corporate debt to 5 per cent from up to 20 per cent for a two-year period, in a bid to draw further inflows to bridge its current account deficit and polish its reformist credentials. The move meets a long-term dem...

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Category : Income Tax | Comments : 0 | Hits : 193

The passage of the General and Railway budgets was rushed through as the guillotine had to applied to meet the constitutional requirements.   Government today ruled out imposition of wealth tax on agriculture land as the Lok Sabha completed the budgetary exercise in an unusual way with Financ...

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Category : Budget | Comments : 0 | Hits : 306

The Australia and India have enjoyed a special bonding in terms of their move to a regional economic operation and in terms of services sector in general and accountancy sector in particular. Both countries share common cultural and linguistic ties as both are part of the Commonwealth of Nat...

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Category : ICAI | Comments : 0 | Hits : 673

CA final exams will be started from 2ndMay 2013 and ended on 16th May 2013   CA IPCC will be started from 3rd May and ended on 15th May 2013   CA IPCC Exam Date Sheet for May 2013  Date   May 2013 Day Exam Group 3nd Friday ...

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Category : Students Zone | Comments : 0 | Hits : 4286