PIL to declare CPT course of ICAI as illegal quashed Chartered Accountants Act, 2006: Public Interest Litigation filed by former Head of Southern Region of ICAI praying for issuance of writ of certiorarified mandamus to quash proceedings of ICAI relating to grant of approval for registration of CPT on the ground that it was ultra vires… Read More »
A chartered accountant (CA) who duped his client was dragged to the consumer court. In a significant ruling, the forum held that negligence in discharge of professional duties constitutes an unfair trade practice. Fernandes received a summons from the income tax (I- T) department to appear at its Ballard Estate office. He engaged the services… Read More »
1. What is meant by delisting of securities ? The term “delisting” of securities means permanent removal of securities of a listed company from a stock exchange. As a consequence of delisting, the securities of that company would no longer be traded at that stock exchange. 2. What is the difference between Voluntary delisting and… Read More »
Question: Dealer has given discount and wants to claim deduction from total turnover to arrive at taxable turnover How can he do that ? or Question : A Dealer did not show the discount given to the customers in the tax invoice, but issued credit notes towards the same separately. can he claim deduction of discount… Read More »
IASB Proposes modifications in IFRS 15 Revenue from Contract with Customers International Accounting Standard Board (IASB), the independent body of IFRS foundation and responsible for developing and promoting International Financial Reporting Standards (IFRS), has proposed some clarifications to IFRS 15 ‘Revenue from contract with customers’. The implementation of the said standard has already been deferred… Read More »
Allowed need based changes chandigarh housing board flats CHANDIGARH HOUSING BOARD CHANDIGARH ORDER The following need based changes/relaxations are allowed in CHB dwelling units subject to the conditions as laid down specifically and approval of the building plans by CHB and to the payment of fine or compounding charges as specified. (A) ALLOWED FOR ALL… Read More »
Question : Whether sale of Cement and Cement bag are taxable separately, when it is established that Sale of Cement and Cement Bag are separate transactions ? Answer :sale of Cement and Cement bag are taxable separately if it is established that sale of cement and bags are separate transaction. A reading of the invoice would clearly… Read More »
Question : Whether the length of delay is relevant for considering the application for condonation of delay ? Answer : No, The length of delay is not relevant for considering the application for condonation of delay. What is relevant is as to whether a party seeking condonation of delay has made out a case of… Read More »
Query: We have a query regarding the amount of stamp duty on LLP Agreements as on what basis stamp duty is paid? Answer: Since Stamp Duty is the subject reserved for the States, the LLP Act does not contain any provision for treatment of stamp duty issues. The stamp duty payable will depend upon the relevant Stamp… Read More »
Central KYC Records Registry under Money Laundering PREVENTION OF MONEY-LAUNDERING (MAINTENANCE OF RECORDS) AMENDMENT RULES, 2015 – AMENDMENT IN RULES 2, 9 & 10 AND INSERTION OF RULE 9A NOTIFICATION NO.4/2015 [P.12011/5/2011-SO(ES.CELL)]/GSR 544(E), DATED 7-7-2015 In exercise of the powers conferred by sub-section (1) read with clauses (i), (j), (jj), (jjj) and (k) of sub-section… Read More »