CAclubindia News

EPFO moves to Accrual Accounting

The Institute of Chartered Accountants of India (ICAI) through its research arm, ICAI Accounting Research Foundation (ICAI ARF) signed an MoU with Employee's Provident Fund Organisation (EPFO) on December 11, 2014. As per the MoU, ICAI ARF will u

Ten Crore Aadhaars Linked to Bank Accounts

A major milestone has been crossed with ten (10) crore Aadhaar numbers having been linked to bank accounts of Aadhaar holders so far a part of Governments Digital India mission. This would enable these individuals to digitally receive governme

Extension of RTGS time window to 8 pm

RBI/201415/352DPSS (CO) RTGS No. 1064 / 04.04.002 / 2014-15December 15, 2014The Chairman / Managing Director / ChiefExecutive Officer of participants of RTGSMadam / Sir,Extension of RTGS time windowIt has been the endeavour of the Reserve Bank

Exemption for Engineers for pursuing CMA Course

Attachment of Properties Against Tax Arrears

Total amount of direct taxed arrear demand as on 31.10.2014 is Rs. 6,15,295 crore. An amount of Rs. 23,653 crore has been collected/recovered during the period 1.4.2014 to 31.10.2014. The target for cash collection out of arrear demand by the field a

Fishing Expedition of CBDT Officers

The complaints including complaints regarding harassment of tax payers by the income tax officers are received by the Government and various income tax authorities all over the country. There is no centralized system of maintaining category-wise data

Regarding adjudication of appraising related cases

Circular No. 14/2014 -CustomsF. No. 450/145/2014-Cus IVGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Excise and Customs****229 A, North Block,New DelhiDated 11.12.2014ToAll Chief Commissioners of Customs / Customs (P

Increase in indirect tax and service tax collection

Indirect Tax Revenue (Provisional) Collections Increase from Rs.3,06,814 Crore in April-November 2013 to Rs. 3,28,662 Crore During April-November 2014; Registering an Increase of 7.1% during April-November 2014 Over the Corresponding Period in the Pr

Grant of fellow membership of ICAI on the basis of service

Regulation 5(3) of the Chartered Accountants Regulations, 1988 provides for eligibility to become a fellow member of the Institute on the basis of service in specified industries and organizations An associate member is eligible for admission as a F

Income-tax deduction from salaries during the FY 2014-15

CIRCULAR NO : 17/2014F.No. 275/192/2014-IT(B)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNorth Block, New DelhiDated 10th December, 2014 SUBJECT: INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR