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May 8, 2013

Fw: TaxGuru : “Empanelment with PNB for Concurrent Audit of Branches” plus 7 more

Empanelment with PNB for Concurrent Audit of Branches

Posted: 07 May 2013 08:30 PM PDT

Punjab National Bank invites applications on the undernoted prescribed format from practicing firms of Chartered Accountants in India who fulfills the eligibility criteria as mentioned hereunder and are willing to have their Firms empanelled as Concurrent Auditor in the Bank and for conducting...

Information A taxpayer can view in Form 26AS

Posted: 07 May 2013 08:30 PM PDT

It is general phenomena amongst the tax payers that in form 26AS they can only view the details of TDS deducted, Advance tax and Self Assessment tax Paid.But in addition to these a taxpaer can view in 26AS the information on his income tax Refund and his transaction in Mutual Fund, Shares and...

S. 37 Expenses on gifts distributed among members & staff in the course of business is allowable

Posted: 07 May 2013 08:08 PM PDT

The stand of the revenue that expenditure incurred by the society on giving presents to as own members would amount to expenditure on itself or application of its income to its members also could not be countenanced as the society was entirely a separate entity

Property can be sold on GPA and Agreement to Sell – HC

Posted: 07 May 2013 07:18 PM PDT

Supreme Court in Suraj Lamp and Industries (P) Ltd. (2) vs State of Haryana reported has not said that in no case a conveyance can be registered by taking recourse to a GPA.

ICAI to take action against students pursuing additional course in violation of its guidelines

Posted: 07 May 2013 06:47 PM PDT

As you are aware, the Council of the Institute, under Regulation 65 of the Chartered Accountants Regulations, 1988 has permitted Articled Assistants to pursue/attend, with prior permission to be obtained from concerned Decentralised offices

Loss on foreign currency forward contracts which is not in respect of specified export or import is speculation loss

Posted: 07 May 2013 06:20 PM PDT

Forward transactions in commodities may fall within proviso (a) to section 43(5) of the Act, it is necessary that the raw materials or merchandise in respect of which the forward transactions have been made by the assessee must have a direct connection with the goods manufactured or the merchandise...

ICAI to conduct Mock Tests for CPT students for June, 2013 Examination

Posted: 07 May 2013 11:48 AM PDT

With a view to further encourage the students to evaluate their preparation for the examination, the Board of Studies has prepared CPT Mock Test Papers for CPT students to assess their preparation for the main examination to be held on 16th June, 2013.

Assessment of person not searched can be carried out u/s 158BD only by issue of proper notice

Posted: 06 May 2013 10:10 PM PDT

Search operation was carried out in one M/s. G.B. & Company under section 132. Though the premises of the assessee were also searched during search operations, the same were in the capacity of an employee of the said company and not in individual capacity.

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