The Ministry of Finance has issued a press release dated 31.05.2015 stating that Income Tax Return Forms ITR 1, 2 and 4S have been simplified for convenience of the tax payers. It is also stated that as the software for these forms is under preparation and are likely to be available for e-filing...
Income tax returns filed after due date cannot be revised
Income tax returns filed after due date cannot be revised
What happens if a tax return is filed late?
A belated tax return for a particular financial year (FY) can be filed within two years from the end of the relevant FY under section 139(4) of the Income-tax Act, 1961. However, a belated tax...
Modification in the Syllabus of Intermediate (IPC) Paper 5: Advanced Accounting and applicability of the same for November, 2015 Examination and onwards
The topic of “Financial Reporting of Electricity Companies” would be excluded from the syllabus of Intermediate (IPC) Paper 5 : Advanced Accounting and the same would not be applicable from November, 2015 Examination and onwards.
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Modification in the Syllabus of Final Paper 1: Financial Reporting and applicability of the same for the forthcoming CA Examinations
The topic of “Overview of International Accounting Standards (IAS) / International Financial Reporting Standards (IFRS), Interpretations by International Financial Reporting Interpretation Committee (IFRIC), Significant differences vis-a-vis Indian Accounting Standards; Understanding of US GAAPs,...
CA IPCC MAy 2015 Question Paper
Paper – 1 : Accounting
Paper – 2 : Business Laws, Ethics and Communication
Paper – 3 : Cost Accounting and Financial Management
Paper – 4 : Taxation
Paper – 5 : Advanced Accounting
Paper – 6 : Auditing and Assurance
Paper – 7 : Information Technology and Strategic Management
...
Job vacancy for Fresher in A leading Private Sector Bank.
We are currently looking for
individuals to join a A leading Private Sector Bank.
1) Credit Analyst - Wholesale Business Banking SME
Desired Candidate should have 1 to 2
years / CA Fresher can also apply.
Location:
Hyderabad / Bubaneshwar / Chennai
Salary:
As per the industry Standard.
Required
Qualification...
TDS on premature PF withdrawal may go
The Finance Ministry is reconsidering its Budget provision to tax premature provident fund (PF)
withdrawals of Rs. 30,000 or more, even as the Finance Act of 2015 has been notified and
deduction of tax at source from PF accounts settled before five years of service comes into force
on JUNE 1.
"The...
CPC (TDS)'s provision for "Correction of Potential Errors" in Original TDS statements before Computation of Final Defaults
Date of communication : 24/05/2015 Dear Deductor (TAN - XXXXXXXXXX), As you may be aware, Centralized Processing Cell (TDS) intimates you of possible PAN Errors and Short Payment Defaults, through an Intermediate Communication, during processing of Original Quarterly TDS Statements....
Analysing the Judgement of Hon’ble Bombay HC holding meal vouchers as ‘Goods’ & Implications
Recently
the Hon’ble High Court of Bombay have pronounced an order which is a land mark
judgment for Indian E-commerce Industry specifically and including Coupon /
voucher sub-industry considering the vacuum of judicial pronouncements on this
aspect. The matter relates to CWP No.
5653 of 2010 &...
Circular with regard to malicious mails. - (23-05-2015)
Circular No. 1-CA (7)/165/2015
Dated 23rd May,2015
The Council of the Institute of Chartered Accountants of India (ICAI) at its 342nd meeting held on 5th and 6th May, 2015 noted the judgment dated 24th March, 2015 delivered by the Hon’ble Supreme Court of India in case of Shreya Singhal vs...
Announcement - Zone Shifting of Candidates for 14th June - 2015 CPT. - (21-05-2015)
IMPORTANT ANNOUNCEMENT
May 21, 2015
Subject: Zone-shifting of candidates for 14th June - 2015 CPT
Due to paucity of accommodation in certain Zones opted by the candidates in the city of Chennai and Hyderabad some of the candidates have been allotted examinations centres in the zone other than...
Determination of point of taxation rule because of increase in service tax rate from 12.36% to 14%
On 19th
May 2015 Central Government has issued most awaited notification for change in
effective rate of Service Tax from 12.36%
to 14%. New rates will be applicable from 1st June, 2015 (Notification
No. 14/2015-ST dated 19th May, 2015).
Point of taxation involving
change in effective...
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