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UNIVERSAL KNOWLEDGE HUB: CA CS ICWA KNOWLEDGE HUB - ALTERNATE MINIMUM TAX U/S 115JC (APPLICABLE TO A PERSON OTHER THAN COMPANY)

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CA IPC - Study Material relevant for Nov. 2014 Examinations. - (21-07-2014)/CIRCULAR 178-4-2014 SERVICE TAX - Manner of distribution of common input service credit under rule 7(d) of the Cenvat Credit Rules, 2004/CS STUDENTS - Foundation Programme verification of marks status - June 2014 Examination/Cost INSTITUTE - Constitution of Expert Committee to examine issues relating to maintenance of Cost Recrds and Cost Audit/Cost Institute - Companies (Cost Records and Audit) Rules 2014. /ICWA STUDENTS - CAT Result for July, 2014/Contribution made towards disaster relief for the affected people of Uttarakhand- 100% deduction u/s 80G of the Income Tax Act/ICAI Press Release - Common Proficiency Test (CPT) held on June 22, 2014./CA MEMBERS - Result of the Information Systems Audit [ISA] Assessment Test held on 28th June, 2014 is likely to be declared on 16th July, 2014/CA CPT - Result of the Common Proficiency Test (CPT) held in June, 2014 is likely to be declared on Wednesday, the 16th July, 2014/CA INSTITUTE - Highlights of Union Budget 2014-15. - (11-07-2014)/UNION BUDGET 2014-15/ICSI - JULY JOURNAL - CHARTERED SECRETARY - THE JOURNAL FOR CORPORATE PROFESSIONALS/The Institute of Cost Accountants of India - The Management Accountant Journal July 2014/CA INSTITUTE - Press Release - CA Day - 1st July, 2014. - (01-07-2014)/CA INSTITUTE - Modification in the Council Guidelines No. 1-CA(7)/02/2008 dated 8th August, 2008 as contained in Appendix No. (34) to the Chartered Accountants Act, 1949. - (02-07-2014)/ICSI - JUNE JOURNAL - CHARTERED SECRETARY - THE JOURNAL FOR CORPORATE PROFESSIONALS/ICAI launches Cloud Campus - (02-07-2014)/The Institute of Cost Accountants of India - The Management Accountant Journal June 2014/One Person Company – Ready Reckoner/CA Students' Journal - July 2014/Frequently Asked Questions on Companies Act 2013/THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (ICAI) e-Journal (July 2014 - PDF Download)/CS STUDENTS - OMR based Examination in three subjects of CS Executive Programme (New Syllabus) / Sample Test Paper(s) for OMR Based Examination of Executive Programme./CS STUDENTS - Applicability of the Companies Act, 2013 for December 2014 Examination./Tarrif Notification No. 06/2014 - Central Excise - Seeks to amend notification No. 12/2012- Central Excise dated 17.03.2012/CA CPT MOCK TEST PAPERS JUNE 2014 WITH SOLUTIONS/CA IPC - Applicability of Standards/ Guidance Notes/ Legislative Amendments etc. for November, 2014 – Intermediate (IPC) Examination/CA FINAL - Applicability of Standards/Guidance Notes/Legislative Amendments etc. for November, 2014 – Final Examination/Income Tax Notification 31/2014 - Cost Inflation Index for F/Y 2014-15/INCOME TAX - Notification 29 / 2014 - Powers conferred by clause (b) of sub-section (2) of Section 80G of the Income-tax Act, 1961 (43 of 1961)/Notification 28/2014 - Income Tax 6th Amendment Rules 2014/INCOME TAX - Notification 27/2014 - clause (48) of Section 10)/THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (ICAI) e-Journal (June 2014 - PDF Download)/CA Students' Journal - June 2014/CUSTOMS NON TARRIF NOTIFICATION 43/2014-Regarding increase the monetary allowance For officer awarded Presidential Award of Appreciation Certificate for exceptionally meritorious service at the risk of life/Customs - Instruction 5/2014 - Regarding increase the monetary allowance For officer awarded Presidential Award of Appreciation Certificate for exceptionally meritorious service at the risk of life/COST Institute - Survey on Internal Auditing Practices in India- Last date for participation 25th June 2014/Cost Institute - CMA (Dr.) S.C. Mohanty, President has been conferred with degree of PhD in Commerce/CS INSTITUTE - Formation, Recognition and Functioning of Study Circle Guidelines, 2014/ICSI Announces 9th International Professional Development Fellowship Programme – 2014/COMPANY LAW - MCA Notification - Delegation_of powers under section 458 of CA 2013 to RDs/COMPANY LAW - MCA Notification - Delegation of powers u-s 153 and 154 of CA 2013 to RD Noida/COMPANY LAW - MCA Notification - Delegation of powers under section 458 of CA 2013 to ROCs/COMPANY LAW - General Circular No. 12/2014-Applicability of PAN requirement for Foreign Nationals./Company Law - General Circular No. 13/2014-Extension of validity period for names reserved as on 31st March, 2014/CS STUDENTS - E-BULLETIN - ( March - April ) 2014/CS STUDENTS - Procedure for opting for modified training structure/CS STUDENTS - Download e-Admit card Executive Programme and Professional Programme - June, 2014/CS STUDENTS - Download e-Admit card Foundation Programme - June, 2014 session/CS STUDENTS - FOUNDATION EXAMINATION APPEARING STUDENTS/CS STUDENTS - Admit Card for June, 2014 Foundation / Executive & Professional (Old / New Syllabus) Programmes./CBSE 12TH RESULTS DECLARED/CA STUDENTS - Applicability of notified sections of the Companies Act, 2013 for May 2015, Examinations. - (20-05-2014)/CA STUDENTS - Applicability of notified sections of Chapter IX, “Accounts of Companies” and Chapter X, “Audit and Auditors” of the Companies Act, 2013 along with its Rules for November 2014, Examinations for Final Course / CA STUDENTS - Revision of the syllabus for May 2015 examinations and onwards pursuant to enactment of the Companies Act, 2013.-(20-05-2014)/INCOME TAX – INSTRUCTION 11 / 2014 - Orders Passed Under Section 264 of the Income Tax Act - Administrative Supervision. /INCOME TAX – Notification 26/2014 – Income Tax (5th Amendment) Rules, 2014./CA INSTITUTE - Observers Portal-CA Examinations May/June 2014. - (20-05-2014)/CA INSTITUTE - Announcement on prohibition to undertake the assignment of audit and accounting work together for the same entity. - (20-05-2014/COST INSTITUTE - Notification No. CMA (1) / 2014 dated 19th May, 2014 regarding Chapters Bye-laws/CBSE 10TH RESULTS DECLARED/Central Excise - CIRCULAR 982/06/2014 - Regarding classification of rice par-boiling machinery/CUSTOMS - NON TARRIF NOTIFICATION 39/2014-Amends Notification 62/1994/CUSTOMS - NON TARRIF NOTIFICATION 42/2014-Amends Notification No. 36/2001-Customs (N.T.)/CA STUDENTS - Panel of writers for candidates with disability, who are permitted assistance of writer in Chartered Accountants examinations. - (15-05-2014)/CA INSTITUTE - ‘ICAI Re-connect’ - Membership Revival Scheme Launched by CA. K. Raghu, President ICAI/Punjab State Electricity Board (PSEB) invites Tenders for appointment of Cost Accountant for maintenance of Cost Accounting Records for the financial years 2013-14 and 2014-15, last date being 12.00 noon on 12th June 2014/Central Cottage Industries Corporation of India Ltd. (CCIC) invites offers for appointment of Retainer for maintenance of Cost Accounting Records from firms of Cost Accountants being member of Institute of Cost and Management Accountants of India for the F.Y.2013-14 & 2014-15/Instructions to Examinees for CS June, 2014 Examinations: Computer Based Foundation Programme Examination/Instructions to Examinees for CS June, 2014 Examinations: CS Main Examinations/CS STUDENTS - Introduction of Re-Registration Policy/CS STUDENTS - Conduct of Student Induction Programme (SIP) at Chandigarh/Company Law - General Circular No. 11/2014-One time opportunity for extension of period of Reservation of Name/BVFC Limited, Namrup invites offers for appointment inter-alia of Chartered Accountants / Cost Accountants for certification of documents to be submitted to FICC, last date being 19th May’2014 upto 3PM/BVFC Limited, Namrup invites offers for appointment of Cost Auditor for the financial year 2014-15, last date being 19th May’2014 upto 3PM/ICSI - MAY JOURNAL - CHARTERED SECRETARY - THE JOURNAL FOR CORPORATE PROFESSIONALS/CS INSTITUTE - Revised Exposure Drafts Of Secretarial Standards With Respect To General And Board Meetings For Public Comments/CS INSTITUTE - Views/Suggestions solicited on Discussion Paper on Review of Delisting Regulations./ICWA STUDENTS - CMA Target Success/CA STUDENTS - Important Announcement of change of Examination Centre in Siliguri (West Bengal)/CA FINAL - Corrigendum: Supplementary Study Paper on Corporate and Allied Laws - (12-05-2014)/CA IPCC - Corrigendum: Supplementary Study Material of Paper 2: Business Laws, Ethics and Communication of Intermediate (Integrated Professional Competence) Course-(12-05-2014)

CA CS ICWA KNOWLEDGE HUB - ALTERNATE MINIMUM TAX U/S 115JC (APPLICABLE TO A PERSON OTHER THAN COMPANY)

CA CS ICWA KNOWLEDGE HUB
ALTERNATE MINIMUM TAX U/S 115JC (APPLICABLE TO A PERSON OTHER THAN COMPANY)


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INCOME TAX EFILING UPDATE

Tax deductor and collector holding valid TAN can register and use the TAN based credentials to file Form 15CA. Please download the updated utility of Form 15CA.



TDS - CPC UPDATES

Validate 197 Certificate has been enabled on TRACES. Please navigate to Statements/Payments -> Validate 197 Certificate

A new version(2.0) of Excel Generation utility for Justification report has been rolled out.Please download and use latest utility version for Justification report requests submitted after 20th Feb 2014



TIN-NSDL UPDATE


Interactive Voice Response (IVR) for knowing the status of your PAN/ TAN application is now available at TIN call centre (TCC)in Hindi/English language. You may call on 020- 27218080 to check the status of your application



RBI NOTICE

Attention Tax Payers



With effect from February 1, 2014, it is mandatory to submit Form 27A generated by TDS/TCS FVU (File Validation Utility) duly signed, along with the TDS/TCS statement(s). Any other Form 27A submitted will be treated as invalid submission and the same will be rejected by TIN-FC branches. (27/01/2014)

W. e. f. January 16, 2014, the PAN application fees have been revised as under

- For dispatch of PAN card in India:- 105 (inclusive of service tax)

- For dispatch of PAN card outside India:- 971 (inclusive of service tax)


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NOTIFICATION NO. 4 / 2014 - INCOME TAX - STATUTORY BODY NOTIFIED U/S 10(46) - Orissa State AIDS Control Society

INCOME TAX EFILING UPDATE -

The Facility to bulk upload Form 15CA is now available as offline utility. The Remitter may use either online or offline utility to upload Form 15CA . Download
LINK 1 LINK 2

NOTIFICATION NO. 95 INCOME TAX - STATUTORY BODY NOTIFIED U/S 10(46) - KERALA STATE AIDS PREVENTION SOCIETY


Verify Payment” facility has also been enabled for payments made through HDFC bank.

Payment of Stamp Duty on Articles of Association for increase in authorized capital of company having registered office in National Capital Territory of Delhi has become mandatory w.e.f. 01/08/2012 vide notification of The Indian Stamp (Delhi Amendment) Act, 2012 on 31/07/2012.



TDS CPC UPDATE

Online verification of Tds certificate has been enabled on Traces.

Users can verify the TDS Certificate on click of 'Verify TDS Certificate' link on

View TDS / TCS Credit page
'View Form 26AS page'


NOTIFICATION NO. 92 INCOME TAX - SECTION 43(5), CLAUSE (iii) OF EXPLANATION 2 TO CLAUSE (e) OF PROVISO, OF THE INCOME-TAX ACT, 1961 - SPECULATIVE TRANSACTION - RECOGNIZED STOCK EXCHANGE - Multi Commodity Exchange of India Limited, Mumbai



NOTIFICATION NO. 91 INCOME TAX - SECTION 43(5), CLAUSE (iii) OF EXPLANATION 2 TO CLAUSE (e) OF PROVISO, OF THE INCOME-TAX ACT, 1961 - SPECULATIVE TRANSACTION - RECOGNIZED STOCK EXCHANGE - Universal Commodity Exchange Limited, Mumbai



NOTIFICATION NO. 90 INCOME TAX -
SECTION 43(5), CLAUSE (iii) OF EXPLANATION 2 TO CLAUSE (e) OF PROVISO, OF THE INCOME-TAX ACT, 1961 - SPECULATIVE TRANSACTION - RECOGNIZED STOCK EXCHANGE - National Commodity and Derivatives Exchange Limited, Mumbai









Registration of Digital Signature has been enabled on

TRACES for deductors. Refer e-Tutorial for detailed instruction.


PAO

PAO registration has been enabled on TRACES.

Refer e-Tutorial for detailed instruction.

PAO can view their Dashboard, Profile and Statement Status after registration.







NOTIFICATION NO. 80 INCOME TAX - SECTION 35(1)(ii) OF THE INCOME-TAX ACT, 1961 -SCIENTIFIC RESEARCH EXPENDITURE - APPROVED SCIENTIFIC RESEARCH ASSOCIATIONS/INSTITUTIONS - INDIAN PLYWOOD INDUSTRIES RESEARCH & TRAINING INSTITUTE, BANGALORE

NOTIFICATION NO. 88 INCOME TAX - SECTION 80G(2)(c) OF THE INCOME-TAX ACT, 1961 - DEDUCTIONS - DONATIONS TO CERTAIN FUNDS, CHARITABLE INSTITUTIONS, ETC. - NOTIFIED SPORTS ASSOCIATION OR INSTITUTION - ARCHERY ASSOCIATION OF INDIA



NOTIFICATION NO. 87 INCOME TAX - STATUTORY BODY NOTIFIED U/S 10(46) - TRIPURA STATE AIDS CONTROL SOCIETY



NOTIFICATION NO. 81 INCOME TAX - SECTION 35(1)(ii) OF THE INCOME-TAX ACT, 1961 -SCIENTIFIC RESEARCH EXPENDITURE - APPROVED SCIENTIFIC RESEARCH ASSOCIATIONS/INSTITUTIONS - HAFFKINE INSTITUTE FOR TRAINING RESEARCH & TESTING, MUMBAI




Income tax E-Filing update - FORM NO. 15CA relating to any paymnet chargeable to income tax to a non-resident not being a company, or to a foreign company) is available from 01/10/2013 on e-filing portal.Remitters may use the same.









INCOME TAX EFILING UPDATE

Updated version of ITR 7 and Offline Forms (other than ITR) are available in the portal.Assessee may download and use the same.

The value 'M' in the field "Status of matching with OLTAS" of FORM 16 / 16A indicates that the details of the
challans reported by the deductor are yet to be verified.

While generating Form16 / 16A, if you are getting a message as "0 PDF files generated successfully", please
download the updated version of the PDF converter utility 1.3L




Remuneration payable to the Statutory Central and Branch Auditors of Public Sector Banks from the year 2012-13
Circular No.06 /2013 Income Tax (amending Circular No.03/2013 dated 26th March,2013)
New Circulars on Transfer Pricing of Development Centres.
Statement of CBDT on proposed safe harbour rules.
Draft Safe Harbour Rules for Comments.
Second to Sixth Report of the Rangachary Committee.
First Report of the Rangachary Committee on Taxation of Development Centres and IT Sector.
Standardizing the process of filing application under section 10(46) of the Income Tax Act, 1961
NOTIFICATION NO. 65 INCOME TAX - SECTION 35(1)(ii) OF THE INCOME-TAX ACT, 1961 -SCIENTIFIC RESEARCH EXPENDITURE - APPROVED SCIENTIFIC RESEARCH ASSOCIATIONS/INSTITUTIONS - THE INDIAN INSTITUTE OF TECHNOLOGY GANDHI NAGAR

NOTIFICATION NO. 62 INCOME TAX - SECTION 35(1)(ii) OF THE INCOME-TAX ACT, 1961 -SCIENTIFIC RESEARCH EXPENDITURE - APPROVED SCIENTIFIC RESEARCH ASSOCIATIONS/INSTITUTIONS - CENTRE FOR DEVELOPMENT OF TELEMATICS (C-DOT), NEW DELHI



NOTIFICATION NO. 55 INCOME TAX - STATUTORY BODY NOTIFIED U/S 10(46) - UTTRAKHAND STATE AIDS CONTROL SOCIETY

NOTIFICATION NO. 60 INCOME TAX - SECTION 35(1)(ii) OF THE INCOME-TAX ACT, 1961 - SCIENTIFIC RESEARCH EXPENDITURE - APPROVED SCIENTIFIC RESEARCH ASSOCIATIONS/INSTITUTIONS - NATIONAL INSTITUTE OF MENTAL HEALTH AND NEURO SCIENCE (NIMHANS) BANGALORE

Assesses who have not filed their ST-3 returns for the period October,12 to March,13
by the due date are requested to file it along with late fee liable to be paid under
Rule 7C of Service Tax Rules, 1994.


Buyer of immovable property can download
Form 16B after registering on TRACES as Tax Payer

NOTIFICATION NO. 48 INCOME TAX - STATUTORY BODY NOTIFIED U/S 10(46) - ODISHA ELECTRICITY REGULATORY COMMISSION
NOTIFICATION NO. 49 INCOME TAX - STATUTORY BODY NOTIFIED U/S 10(46) - HIMACHAL PRADESH ELECTRICITY REGULATORY COMMISSION
NOTIFICATION NO. 52 INCOME TAX - STATUTORY BODY NOTIFIED U/S 10(46) - GUJRAT STATE CONTROL AIDS SOCIETY

COST INFLATION INDEX FOR THE YEAR 2013-2014 IS 939 INCOME TAX
NOTIFICATION NO. 40 2013


Maha Mrityunjay Mantra



INCOME TAX EFILING UPDATE - The due date date of filing return of income required to be filed by 31st July 2013 has been extended up to 5th August 2013.There are mobile applications which are not approved by the Income Tax Department.Users are advised that they may not be according to department data structure.Filers using them are using at their own risk.....An FAQ on Troubleshooting is added in HELP section of the portal.
RBI discloses the names of applicants for new bank licences in the private sector


TDS-CPC HEADLINES

Justification Report:
Deductors facing issues with justification report conversion are requested to download the latest justification report utility and submit the request again
Deductors can submit request for downloading Justification Request from FY 2007-08 onwards

TDS certificate in Part A of Form 16 shall be generated for only those pans that have been reported in Annexure II of 24Q statement for 4th.quarter.The deductors are therefore advi- -sed to ensure that they provide salary details of their employees employed for whole or part of year Annexure –II of Quarterly TDS statment of 4th quarter
The tax deducted and paid under section 194IA of I T Act can be viewed online by the seller of the immovable property in their Form 26AS (Tax credit statement) from 22nd July, 2013 onwards



Deductors are advised that the demand raised in the intimation u/s 200A can be closed by making payment and filing the corresponding correction statement



For any type of correction in challan, contact your respective Jurisdictional Assessing Officer


Intimations u/s 200A of the Income Tax Act, 1961 for the statements filed during the Financial Year 2012-13 are being sent from TDS CPC


Levy u/s 234E of the Income Tax Act, 1961 is a statutory levy and cannot be waived



To receive Email intimations from TRACES,
please add intimations@tdscpc.gov.in to the
address book / contact list of your registered
Email Id




CBEC





NEW @ TIN


Facility for payment of PAN application fee in Indian Rupees & foreign currency by foreign citizens/NRIs using 'Credit Card/Debit Card' is now available for those applicants who apply PAN online. (03 August, 2013)





As advised by Income Tax Department:



TIN will accept TDS/TCS statements only pertaining to Financial Year 2007-08 and onwards.


Statements for Financial Years upto 2006-07 will not be accepted at TIN.


Acceptance of 'Y' type of correction TDS/TCS statements have been discontinued at TIN


The above is with effect from July 1, 2013.



Implementation of the approved Restructuring of the Income Tax Department





TARRIF NOTIFICATIONS OF CUSTOMS IN YEAR 2013

Tariff Notifications of Central Excise in year 2013

CBDT INSTRUCTION No. 5/2013 dated 08.07.2013 - (10/07-2013)





ICAI International Conference - November, 2013




CA FINAL CPT RESULT NOV / DEC 2013


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