Cost Accountants (Pune Chapter) on Friday protested outside the Pune Municipal Corporation (PMC) against the new cost audit draft rules published by the Ministry of Corporate affairs. The accountants have demanded an immediate withdrawal of the rules claiming it detrimental to their field.
The...
Vodafone India Services Pvt. Ltd (No. 2) vs. UOI (Bombay High Court)
Transfer Pricing: Existence of income is a jurisdictional requirement for the applicability of T. P. provisions. AO must deal with it after giving personal hearing before making reference to TPO. The dept should not treat the assessee as an adversary who has to be taxed, no matter what
The assessee,...
Punching PIN must for debit card transactions from December 1
Debit card holders will from Sunday be required to punch in their PIN numbers every time they use the card, a move aimed at minimising frauds.In June, the Reserve Bank of India had extended the deadline for the implementation of mandatory PIN punching at Point-of-Sales (PoS) and merchant outlets till...
Filing of online return for 2nd quarter of 2013-14 – extension of period thereof.
No.F.7(420)/VAT/Policy/2011/PF/1006-1012 Dated:20/11/2013
CIRCULAR NO. 26 of...
Point of taxation [Rule 2(e)] of Service Tax
![Point of taxation [Rule 2(e)] of Service Tax](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgv9SNJI-hPaSTGEtpQoy4ZMneHe2TpKtqtScHz6uM5iSZbO0wyGOhBVYS1RuSDjkIyXhTzwdYmnOq8mkKvFQXJBW_E80v7h8GrnRG4nAww3HsnTsBj5fBoPTdKmW-2doj57q1QUNooXz2f/s150-c/Capture.JPG)
For the
purpose of charging service tax on any service, the incidence of levy is on
person rendering of a taxable service which is termed as point of taxation. Usually
people have confusion regarding the point in time when a service is deemed to
be provided and thereby service tax is to be deposited....
EMPLOYEES’ PROVIDENT FUNDS AND MISCELLANEOUS PROVISIONS ACT, 1952
EMPLOYEES’ PROVIDENT
FUNDS AND MISCELLANEOUS PROVISIONS ACT, 1952
Provident Fund scheme was started by few concerns even
before the enactment of the act. The government in 1952 framed this act for the
benefit and welfare of the employees. This act is applicable to employees
drawing pay not more...
FOREX - Practical Aspects
Forex market is open 24 hours a day, 5 and a half days a week when currencies are traded worldwide electronically over the counter. This is called foreign exchange market.
What are the ways of trading forex?
Spot market: Where one party delivers an agreed amount of currency at an agreed rate...
Banks violate RBI norms to deny zero-balance A/Cs
MUMBAI: Banks have been found to use the Reserve Bank of India's norms as an excuse to avoid opening zero-balance accounts. In a sting operation conducted by a web portal, an IIT Mumbai professor sought to open a basic bank account in 19 banks without address or identity proof. In all the 19 branches,...
ICWA Admit Card for DECEMBER -2013 Term Examination.
Admit Card for DECEMBER -2013 Term Examination.Click here to download : http://examicmai.org/wadmit/admit.htmInstructions : Registration No ( 01121053900) 11 digit format.Important Announcement :-
Admit Card and other details for Foundation December 2013 Examinations will be hosted on 1st week...
Revenue exempted from disclosing info obtained from Financial Intelligence Unit justifying search operations
Preparation of satisfaction note on information collected from Financial Intelligence Unit to be treated as unpublished document for which privilege under Evidence Act could be validly claimed.
Facts:
a) The assessee was a leading importer and exporter of bullion, platinum bars and other precious...
Assistance in financial and risk management is a ‘technical service’; FTS under India-US DTAA
Where assessee-company was making use of advice, input, experience and assistance rendered by US based company in its decision making process of financial and risk management, etc., services so rendered would be technical services under India-US DTAA.
Facts:
a) The assessee-company, engaged...
FORENSIC AUDIT - REPORTING PRESPECTIVE
I. INTRODUCTION
Forensic Auditing covers a broad spectrum of activities, with
terminology not strictly defined in regulatory guidance. Generally, the term
‘forensic accounting’ is used to describe the wide range of investigative work
which accountants in practice could be...
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