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Last Date :11/02/2008
Address :General Manager, Procurement, Bangalore Electricity Supply Company Limited, K.R. Circle, Bangalore- 560001
Phone :080- 22354939
http://www.indianca
By djain128, Section Empanelment Notices
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Last Date :15/01/2008
Address :Director, Technical Education, Vocational And Industrial Training, Himachal Pradesh, Sundernagar.
By djain128, Section Empanelment Notices
Posted on Sat Jan 12, 2008 at 08:50:32 PM EST
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Last Date :29/01/2008
Address :Registrar, Rajasthan University Of Health Sciences, Kumbha Marg, Sector- 18, Pratap Nagar, Tonk Road, Jaipur- 302033
E-Mail :rajmed_university@
By djain128, Section Empanelment Notices
Posted on Sat Jan 12, 2008 at 08:49:40 PM EST
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"The Finance Ministry has, in principle, approved providing service tax refund on export related services. There are certain technical issues relating to apportioning the tax on some of the services and the relation of the services to the export process which is now being sorted out," a Government source said.
Sources also said the Ministry of Commerce has prepared a separate Cabinet note asking for service tax refund on these 12 services, in case Budget 200809 fails to provide relief.
The Government has so far doled out sops worth over Rs 6,000 crore to exporters in the current fiscal to help cushion them from the impact of the rising value of the rupee.
If the domestic currency continues to rise, it is feared that the export sector, which accounts for around 15 per cent of GDP, could see over eight million job losses by the end of the fiscal. In addition, the cumulative revenues losses for companies, estimated to be Rs 25,000 crore so far, is expected to touch Rs 35,000 crore by March.
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(398 words in story) Full Story
http://www.indiancaBy Sumit Kumar, Section Taxation - Service Tax
Posted on Sat Jan 12, 2008 at 01:21:19 AM EST
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As per the Industrial Park Scheme 2008, notified by the Central Board of Direct Taxes today, the industrial park developers will be eligible for 100 per cent tax deduction.
Such deduction would be given for 10 consecutive assessment years out of 15 years after the commencement of operations of such units.
It is up to developers to choose which consecutive 10 years he wants for tax holidays. Similar tax rebate scheme was announced in 2002, but it lapsed in 2006.
Those parks, which were developed, operated or maintained during 2006-07, would have tax assessment year of 2007-08 and would have filed tax returns by now. They can now file a revised tax returns and claim the tax benefits, finance ministry officials said.
As per the criteria under this scheme, an industrial park should have at least 30 units. All units of a person and his associated enterprises will be treated as a single unit.
The industrial park will have to be owned by only one undertaking to avail of the tax benefit. The area allocated or to be allocated to industrial units will have to be at least 90 per cent of the allocable area, the notification said. -- PTI
By Leo11, Section Taxation - Income Tax
Posted on Fri Jan 11, 2008 at 04:43:14 AM EST
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The payment of fees for professional courses for self is not eligible for any rebate or deduction. However, if the assessee has taken any loan for the above payment, he may be entitled to claim deduction for interest on such loan u/s. 80E of the Income Tax Act, 1961.
Source: HT Bussiness January-11-2008
http://www.indianca
Posted on Fri Jan 11, 2008 at 03:51:32 AM EST
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Quoting PAN is mandatory for various types of transactions. Since you are making investment in mutual funds, you need to furnish your PAN to the mutual fund. As such, you have to apply for PAN. There are no implications if you have a PAN. It wm facilitate you for various purposes.
Source: HT Business January-11-2008
http://www.indianca
Posted on Fri Jan 11, 2008 at 03:46:24 AM EST
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I am very happy as it has provided me with an opportunity to meet the expectations of my parents and make their dream come true.
Any specific reason you chose to study commerce over engineering, science, etc?
I always preferred commerce, particularly in the capital markets since I was a child. I used to regularly go through investment journals like Dalal Street/ The Economic Times, even during my school days.
How did you make the decision to do all three professional courses?
I had not thought of doing all three courses initially. Like any other CA student, I was planning to complete my CA and then start my own practice. However, on completion of CA Intermediate and graduation in the same academic year, I thought it would be a good idea to do a company secretaryship course along with CA final so I could acquire advanced knowledge of corporate laws and secretarial practice. Fortunately, in 2000, I completed my CA final and CS intermediate courses simultaneously. Since, age was still on my side, I decided to go for the ICWA course along with the CS final in order to join the coveted 'Triple Crown' club.
How did you manage your time? Did you have any study techniques?
I had taken three months study leave for the CA final exams and three weeks each for the CS final and CWA final exams. I had relied on study modules/suggested answers given by all three institutes for most of the subjects and used Bare Acts for Taxation/CorporateL
What are your suggestions for students who face failures in these examinations?
Failure is very difficult to digest for any human being. I have tasted failure twice, while completing my BCom, due to some technical/clerical errors on the part of Pune University, which were corrected by them subsequently. I was fortunate to have the support of my family, teachers and friends at those moments.I would advise students to do a SWOT analysis on their own and identify weak areas so that they can work on them to improve their scores. One must have a positive attitude and should never give up. However, in the event of recurring failures, students should approach a career counsellor/teacher to get appropriate guidance for deciding their future action plan.
How can students update their knowledge base besides the course modules?
All three institutes publish monthly journals/newsletter
What is your message for aspirants of CA, CS, CWA?
India is going through a strong phase and is expected to witness sustained growth over the next 25 years. Obviously, there's always going to be an increasing demand for qualified CA/CS/CWA professionals. The only thing you need to have is a focused approach with an urge to excel. Go ahead with full confidence, and success will definitely be yours.Times News Network
http://www.indianca
Posted on Fri Jan 11, 2008 at 01:37:45 AM EST
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Posted on Thu Jan 10, 2008 at 08:03:35 AM EST
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Vice-President Hamid Ansari, Prime Minister Manmohan Singh and Finance Minister P Chidambaram were present.
Mr. Rai declined to share his priorities with the media though he said he was accepting the assignment "with deep humility... [and] I am looking forward to the job. It is an important assignment." He has been appointed for a term of six years or till he attains the age of 65, whichever is earlier.
Indian CA Online congratulate Mr Vinod Rai on his elation as Top Auditor of the country and wish him success
http://www.indianca
Posted on Thu Jan 10, 2008 at 07:57:52 AM EST
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http://www.indianca
Posted on Thu Jan 10, 2008 at 07:51:05 AM EST
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10,Bahadur Shah Zafar Marg , New Delhi-110002
Instructions for updation of data for the year 2008-2009
- The Chartered Accountant firms who had applied for empanelment during January-March 2007, for the years 2007-2008 and 2008-2009 can only update change their data.
- The userid and password to access the data will be the same as allotted last year. Firms who do not remember their userid and password may use the option "Forgot password" to get the same. The email address entered for the purpose of obtaining the userid and password should be correct and in operation as the user id and password will be sent only to this email. In case password is not received within 24 hours this office may be contacted through email/telephone (as given in help desk).
- The data already entered by the firm is displayed on the screen. The users may edit the required column to change update the data to reflect the status of the firm as on 01.01.2008 . The users should ensure that all the information has been filled in properly.
- Firms whose ICAI Registration has been changed due to mergers etc. should, before submitting their online form, contact this office through email (giving full details of the changes made) for change of their ICAI registration number.
- Even if there is no change in the data given last year, the firms are required to check their data and generate acknowledgement letter, which is required to be sent to this office along with the following documents.
(ii) Statement-I: Undertaking signed by the sole proprietor/all full time partners of the firm as per format.
(iii) Statement II: Signatures of full time CA employees as per format.
(iv) Statement III: Computation of income of each partner/sole proprietor from firm/ other sources as per format.
(v) Copy of partnership deed of the firm.
(vi) Copy of the annual accounts of the CA firm along with all schedules for the year 2006-2007.
(vii) A copy of the acknowledgement of I T return of the firm and of all full time partners/sole proprietors for the assessment year 2007-2008 along with computation of income submitted to IT authorities.
(viii) Copy of CISA certificate in respect of members who have qualified CISA.
(ix) Duly filled up check list to be placed on the top of the documents as per format.
(x) Self addressed acknowledgment form for receipt of documents.
The above documents should be addressed to:
Director General (Commercial)
Office of the Comptroller & Auditor General of India,
10, Bahadur Shah Zafar Marg,
New Delhi-110 124
On top of the envelope containing the documents, the following should be stated:
"Regarding: Application for empanelment of statutory Auditors"
- The documents along with the acknowledgement letter generated during online updating should reach this office on or before 29th February 2008.
- Documents should also be properly tagged and page numbered. This office owns no responsibility for loss of any documents, which are not properly tagged or sent subsequently in piecemeal. Only applications complete in all respects will be considered. Incomplete applications or documents received after the prescribed last date will not be entertained. The decision of the Office of C&AG of India in this respect will be final.
- The information submitted by the CA firms is subject to verification with the details to be provided by the Institute of Chartered Accountants of India.
- This office reserve the right to inspect the offices of the Chartered Accountant firms empanelled with this office to verify the correctness of the information furnished in the application for empanelment.
http://www.indianca
Posted on Thu Jan 10, 2008 at 07:48:54 AM EST
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Last Date :25/01/2008
Address :General Manager, Govt. of Madhya Pradesh Rural Road Development Authority, Ving-II, 5th Floor, Paryavas Bhawan, Bhopal
http://www.indianca
Posted on Thu Jan 10, 2008 at 07:38:02 AM EST
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Last Date :15/01/2008
Address :Managing Director, Bihar Rajya Pul Nirman Nigam Limited, 7, Sardar Patel Marg, Patna-800015.
http://www.indianca
Posted on Thu Jan 10, 2008 at 07:29:08 AM EST
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There are some complex factors about family property which need to be clarified, says R.L. NARAYANAN
There is an impression that the more complex a document , the greater its value. This is not correct. Certain documents reducing an oral family arrangement to record are those which cover large-value properties.
The documents may be so simple that the simplicity itself may throw doubt on the documentation. Further, this is a matter which frequently comes up for discussions. The relevant queries are collated in question-answer format to enable an easy understanding.
1. What is a family arrangement?
Broadly speaking, it is an arrangement or an agreement between members of one family. It is usually in the nature of settling a dispute. The object is to preserve the property and the good name of the family by recognising that it is not in the good interest of the family for the members to engage in fights or disputes. It is essentially in the nature of a compromise. The idea is to preserve and protect the peace, security and the interest of the family and its members as a whole.
2. What are the critical aspects of a family arrangement?
The arrangement should be made in good faith. Good faith can be stated to be the essence of the family arrangement. It should not be made with a view to circumvent provisions of law relating to stamp duty or provide an advantageous position with regard to stamp duty and registration costs. It must not be in the nature of extinguishing or limiting the rights of a family member who is not a consenting party to the arrangement. It should be in the nature of settling disputes, promoting harmony and not in the nature of inciting disputes or disrupting the harmony. There should not be any fraud or undue influence played in any member or members of the family. It must be a voluntary arrangement.
3. What is the consideration involved in a family arrangement?
If you take the case of sale, the sale price is usually the consideration for conveyance of the property. However, in a family arrangement, the settlement of disputes, harmony within the family, honour of the family, prevention of disputes, compromise of disputes, preservation of property and, in general, matters in the nature of protecting the interest of all concerned will be treated as sufficient consideration, so long as the arrangement is made in good faith.
4. Can a family arrangement be made orally?
A family arrangement can be made orally. It is legally valid and recognised. However, all the critical factors of a valid family arrangement would be applied to find out whether such arrangement would be valid and fair. The circumstances have to be looked into.
5. What is the basis on which the rights of the members to a family arrangement is recognised?
A family arrangement is not treated as a conveyance. It is only in the nature of allocation, distribution, re-distribution or recognition of pre-existing rights. This is like re-alignment of rights. In the process, some of the pre-existing rights of one of more members may even be extinguished by their consent. So long as it meets the other requirements of a valid family arrangement, this is also recognised. The matter to be considered is the recognition of a claim or a right and not the transfer of the same even though there could be relinquishment by one or more members or acknowledgement of rights of others by one or more members.
6. What can be termed as a "Family Dispute"?
The dispute could relate to any aspect, but is usually relates to the rights or claims in respect of property, assets, enjoyment of rights in respect of properties, claims, shares, possible claims, family feuds, refusal to recognise rights of family members, etc.
It could relate to any aspect which may threaten the rights of any member or the family as a whole, if the disputes are prolonged or escalated or in the nature of creating situations or circumstances that the members are not able to meet eye to eye. It could be a genuine dispute or a controversy, rival claims, assertions and denials. It is unfortunate that many disputes revolve around the sheer ego of the persons involved. The law takes it that these disputes are not in the best interest of the members of the family.
7. Does a family arrangement require to be duly stamped and registered?
This depends on the manner in which the document is made. Generally, if it is a memorandum recording a past transaction or is a record or a chit or a list merely reducing the earlier oral family arrangement, then there may not be any necessity for payment of stamp duty and registration charges as this is not a document of title. Otherwise, if it is intended to be a document of title containing declarations of rights of parties, then it has to be properly stamped and registered. This is the most difficult and controversial part of family arrangements. It is advisable to obtain proper advice from a lawyer in this regard.
8. How to determine whether a particular document relating to a family arrangement requires to be stamped and registered?
This depends on various facts and circumstances and the document itself. One has to look into the manner in which it is made; the phraseology and wordings employed; the setting out of rights and terms and conditions; reference to pre-existing rights of the members; reference to the parties being members of Joint Hindu Family; timing of the document, besides other matters which may be relevant on a case to case basis.
9. What is the difference between a family arrangement and partition?
A family arrangement may be based on disputed or potential or possible or even notional claims. In a partition, there should be very clear pre-existing rights. In a family arrangement, as is obvious, some degree of relationship is involved. A partition can be entered into between persons who have no family relationship, but are co-owners of property. A family arrangement can be in the nature of re-aligning, re-distributing or even consolidating certain claims and rights. A partition is always in the nature of division of property. There could be other differences on a case-to-case basis.
10. Is it possible to have a summary of matters relating to family arrangement?
A family arrangement can be made orally. It need not be necessarily reduced to writing. If it is implemented in oral form, the question of stamping or registration does not arise.
Depending on the wordings employed, facts and circumstances and other factors, it may or may not required to be stamped and registered. Each document has to be scrutinised on the basis of the wordings contained in the document to arrive at a conclusion whether the same requires to be stamped and registered or otherwise.
At times, it may only be stamped, but not registered in which case it can be looked into for collateral purposes. If it is required to be stamped and registered, but is not properly stamped and registered, it cannot be looked into for any purpose. Whether a purpose is collateral or not, is a matter which has to be gathered from the facts and circumstances concerned.
Source ramachandran_
http://www.indianca
Posted on Sun Jan 06, 2008 at 02:04:51 AM EST
http://www.indianca
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