Suresh Prasad (www.aubsp.com) (15630 Points)
04 October 2011
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Suresh Prasad
(www.aubsp.com)
(15630 Points)
Replied 04 October 2011
Please Do Not reply as I would provide the updates from time to time.....!!!!!!!!!!
Suresh Prasad
(www.aubsp.com)
(15630 Points)
Replied 05 October 2011
Most important topics in law paper for nov 2011:
Section 211; 212; 217(2A); 219(1); 233B; 266B; 309(4); 309(4)(b); 314(1B); 396; E-governance; Prosecution of Directors; Filing of Balance sheet and Profit & Loss Account.
CA Final Nov Imp:[ https://goo.gl/6rQc7 ]
Suresh Prasad
(www.aubsp.com)
(15630 Points)
Replied 05 October 2011
The 8th Batch and 9th Batch of ICAI Four Weeks Residential Programme on Professional Skills Development from 2nd December, 2011 to 28th December, 2011 and from 4th January, 2012 to 31st January, 2012 respectively at Centre of Excellence (COE), Hyderabad.
Registration may be made by paying 20% of fees, i.e., Rs.8,000/- or full fees, i.e. Rs. 40,000/- through demand draft in the favour of ‘The Secretary, The Institute of Chartered Accountants of India’ payable at New Delhi.
All eligible students/ members interested to pursue this programme may click for details of programme and registration form.
Suresh Prasad
(www.aubsp.com)
(15630 Points)
Replied 05 October 2011
License fee for Software, even if "copyrighted article", taxable as "royalty"[In Re Millennium IT Software Ltd (AAR)].
-Wish you all Subh Navratri.
https://goo.gl/6rQc7
Execution of sale deed by co in respect of plot owned by it after appointment of provisional liquidator would be invalid(DELHI)
Payments were made by company directly to creditors of directors to clear their liabilities, such payments could be treated as deemed dividend(ITAT)
Suresh Prasad
(www.aubsp.com)
(15630 Points)
Replied 05 October 2011
Suresh Prasad
(www.aubsp.com)
(15630 Points)
Replied 06 October 2011
Southern Ispat & Energy Ltd (listed with BSE) engaged in the business of Steel manufacturing looking for a Fresher Company Secretary.
https://www.aubsp.com/2011/09/requirement-of-fresher-company.html
Suresh Prasad
(www.aubsp.com)
(15630 Points)
Replied 06 October 2011
ICAI: Download Admit Card Nov-2011[www.icai.nic.in]
CBDT:Only at Sikkim date of filing of Returns/Tax Audit Report for AY 2011-12 extended upto Oct.
IT:Proviso can't restrict Penalty limitation period of s.275(1)(a)[CIT vs. Mohair Investment & Trading Co(Delhi High Court)]
CA:https://goo.gl/pqTcm
ST: e-filing of ST-3 and Central Excise(ER1-8) Return is mandatory w.e.f. 1st October, 2011[visit: aces.gov.in or call Toll-free 18004254251].
Suresh Prasad
(www.aubsp.com)
(15630 Points)
Replied 08 October 2011
Exam Forms for December 2011 CPT Exam available from today onwards.
For Online Exam Application, Visit:
icaiexam.icai.org
Last Date: 28th October
New XBRL Form 23AC and 23ACA Issued by MCA-
Mandatory for
1)Listed Co's
2)Co's with paid up cap > 5 Crs
3)Turnover > 100 Crs
Notes: Remind all Professional Ethics-
CA in Practice
(22 clauses)
CA in service
(2 clauses)
CA generally
(7 clauses)
Suresh Prasad
(www.aubsp.com)
(15630 Points)
Replied 08 October 2011
IT: Payments made by Third Party Administrators (TPA) to juristic or corporate entities that 'provide' "professional services"-194J applies[Delhi].
ST: If separate invoices were raised & VAT was paid service tax will not be raised for providing outdoor catering services to airlines-[Karnataka].
ICAI: After verification of marks, CA Final-93, IPCC-25 and PCC-36 students have passed.
I am Glad to inform that we reached to > 50 users
Suresh Prasad
(www.aubsp.com)
(15630 Points)
Replied 09 October 2011
A ACA/FCA who is a salaried employee of a CA or CA firm, shall be deemed to be in practice for limited purpose of the training of Article Clerks.[Explanation to sec.2(2) of CA Act. 1949]
For investigating black money, Govt plans to allow reopening of IT returns of past 16 years of suspected assessees.
NOTES: AS-29 would not apply to the Provisions, which are adjusted against the assets, in the Balance Sheet and NOT shown as 'Liability'.
Suresh Prasad
(www.aubsp.com)
(15630 Points)
Replied 10 October 2011
For purpose of section 2(22)(e), partnership firm, which purchased shares through its partners in a company, which paid loans to it, is to be treated as the shareholder and it is not necessary that said firm has to be a "registered shareholder"
Recently, PSBs appoints statutory auditors in consultation with the central bank but ICAI again wants the RBI to appoint auditors as before 2006.
Suresh Prasad
(www.aubsp.com)
(15630 Points)
Replied 12 October 2011
Suresh Prasad
(www.aubsp.com)
(15630 Points)
Replied 12 October 2011
NOTES:All a/c Policy must b disclose at one place BUT
Fundamental a/c Assumption- Disclosure is req. only if it is NOT followed
(AS-1 Para-25 & 27)
TIPS CA students:
why you will not secure at least 50 marks in each Paper-
20-25 marks
(From Study Mat.)
25-30 marks
(From RTP+ Practice Manual)
MCA:XBRL filing- Member of Professional Institutes can register/renew for Certified Filing Centers(CFCs) upto Nov 2011[Form https://goo.gl/orwsT]
Suresh Prasad
(www.aubsp.com)
(15630 Points)
Replied 12 October 2011
TR-6 challan is a valid document on basis of which an assessee can avail CENVAT credit of ST paid in respect of GTA service received by it [CESTAT]
ICAI:24 hours help for Exam upto 11/11/2011:
3054851/2/3/5
STD Code 0120
(0120) 3054841 (FAX)
E-mail IDs:
News: SC grants bail to five Satyam accounting fraud accused including a former auditor of PWC.
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Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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