Manish K Mehta & Company

27/03/2015

[6:00pm, 12/02/2015] +91 97732 63699: Structural changes in CA Course
New Proposed Scheme of Education and Training applicable from May 16 onwards was released at the Annual Function held yesterday i.e. February 11th 2015 at Delhi. A complete booklet outlining the Scheme and also significant changes along with reasons thereof can be checked at
http://220.227.161.86/36682bos26076.pdf

ISCA is discontinued
Financial Services and Capital Markets to replace it
Direct Tax to be divided into Advanced Tax Management (60 Marks) and International Taxation (40 Marks)
New syllabus

Foundation
1. Fundamentals of accounting 100
2. Quantitative aptitude 100
3a. Mercantile law 60
3b. Economics 40
4a. English 50
4b. Business communication 50

Intermediate
Group 1.
1. Accounting 100
2. Company law 60 + other laws 20 + ethics 20
3. Cost accounting 100
4. Direct taxes 100
Group 2
5. Advanced accounting 100
6. Auditing and assurance 100
7. Financial management 100
8. Indirect taxes 100

Final
Group 1
1. Financial reporting 100
2. Strategic financial management 100
3. Advanced auditing and professional ethics 100
4. Corporate and other economic laws 100

Group 2
5. Advanced management accounting 100
6. Financial services and capital markets 100
7. Advanced tax management 60 and international taxation 40
8. Indirect tax laws 100
[7:49pm, 12/02/2015] +91 97732 63699: CA CPT/IPCC/FINAL syllabus major changes proposed by ICAI

1. Name Changed from CPT to Foundation 2.
New subject General English introduced

IPCC

1. Total 8 subject
2. & SM REMOVED !!!!!!!!
3. Duration increase from 9 to 12 months.
4. Cost & FM to be two different subjects.
5. DT & IDT to be different subjects.
6. Communication removed from law paper.
1. New subject introduce : Capital Market and Financial Service
2. !!!!!!! (Relief: students point of view)
3.Final Exam can be appear after COMPLETION of TOTAL Articleship.
4. International Taxation introduce with Direct Tax paper.
For papers details visit : www.Facebook.com/cabhanwarborana

27/09/2014

As per CBDT press release dated 26.09.2014, Due date for Income Tax return filing extended to 30.11.2014 for tax payers who are subject to Tax Audit
Due Date for filing of return of Income for Assessment Year 2014-15 Extended from 30th September, 2014 to 30th November, 2014 in Specified Cases

As per the provisions of the Income-tax Act, 1961 (‘the Act’), for an assessee, who is required to obtain Tax Audit Report (TAR) under section 44AB of the Act, the due date for furnishing his return of income is 30th September of the Assessment Year.

The Central Board of Direct Taxes (‘the Board’) vide order dated 20th August, 2014 extended the due date for obtaining and furnishing of Tax Audit Report under section 44AB of the Act for Assessment Year 2014-15 from 30th September, 2014 to 30th November, 2014. Subsequently, a number of representations were received in the Board requesting for extension of the due date for furnishing of return of income also. Writ petitions were also filed in various High Courts for directing the Board to extend the due date for furnishing of return of income from 30th September, 2014 to 30th November, 2014 in conformity with the extension of the due date for filing of Tax Audit Report.

The Gujarat High Court vide judgement dated 22.09.2014 directed the Board to extend the due date for furnishing the return of income to 30th November, 2014, except for the purposes of charging of interest under section 234A of the Act for late filing of return of income. Other High Courts also directed the Board to look into the practical difficulties of the petitioners and take a just and proper decision in this matter.

In compliance to the judgments of various High Courts and after considering the representations received for extension of the due date, the Board, in exercise of its power conferred by section 119 of the Act, has extended the `due-date’ for furnishing return of income from 30th September, 2014 to 30th November, 2014 for the Assessment Year 2014-15 for all purposes of the Act in the case of an assessee, who is required to file his return of income by 30th September, 2014, and is also required to get his accounts audited under section 44AB of the Act or is a working partner of a firm whose accounts are required to be audited under section 44AB of the Act.

There shall be no extension of the “due date” for the purposes of charging of interest under section 234A of the Act for late filing of return of income and the assessees shall remain liable for payment of interest as per the provisions of section 234A of the Act.

For removal of doubt, it is clarified that for an assessee (other than working partner of a firm which is required to obtain and furnish Tax Audit Report), who is required to file its return of income by 30th September, 2014 but not required to obtain and furnish Tax Audit Report under section 44AB, the due date for furnishing of return of income for assessment year 2014-15 remains as 30th September, 2014.

********

08/08/2014

08/08/2014

Good luck 👍👍👍 4 final

02/08/2014

Happy Friendship Day👍😊

02/08/2014

Died Laughing... 😄😄😄😄

100 metre ki race ho rahi thi...

Referee said '1,2,3 GO!'...

Everybody started running except Alia bhatt.

Referee - y r u not running...?

Alia - My number is 4

30/07/2014

At its best

Alia to tax consultant:
Can I claim 80 of my Cafe Coffee Day expenditures under section 80CCD?

Tax consultant quits!!!!😓😭😭😰😰😨
😝😜😉

29/07/2014

Format of Tax audit report revised vide notification no 33 dated 25 07 14.

Form 3CA, 3CB & 3CD of Income Tax substitute vide Notification S.O. 1902 (E) dated 25th July, 2014

http://www.taxindiaonline.com/RC2/pdfdocs/wnew/it14not033.pdf
Major changes in new 3CD

1. Particulars of registration under excise, vat, iec, service tax etc to be given
2. Location(s) (address(s)) of keeping books of accounts to be given
3. Particulars of sale of Land/Building less than Stamp value to be given
4. Comparison of amount debited vis a vis amount admissible on account of various deductions to be given
5. Detailed information to be given on amount debited to P & L a/c of Capital Exp, Personal Exp. ADVERTISEMENT
6. Details on TDS deducted not deposited or not deducted u/s 40(a) Non resident
7. Name of payee whose TDS not deposited, deducted to be given u/s 40(a)(ia)
8. Amount to be profit u/s 40A(3A) to be given
9. Modavt=Cenvat
10. (28) Whether receive shares below fair value u/s 56(2)(viia)- How it is possible for CA
11. Whether assessee receive security premium taxable u/s 56(2)(viib)
12. Detailed info on TDS/TCS deducted section wise to be given
13. Late filing of TDS/TCS return
14. Interest Payable u/s 201(1A) and 206C(7)
15. Audit under Service tax to be reported
16. Demand/Refund raised under any other law during the PY to be reported

18/07/2014

Highlights of the Budget:

No change in income tax rates; personal income tax exemption limit raised from Rs 2 lakh to Rs 2.50 lakh

Propose to increase investment limit under Section 80C from Rs 1 lakh to Rs 1.5 lakh

Tax exemption on interest component on housing loan raised to Rs 2 lakh from Rs 1.5 lakh

Tax exemption limit for senior citizens changed from Rs 2.5 lakh to Rs. 3 lakh

10 year tax holiday for power companies who start production and distribution on March 31, 2017

Revenue deficit pegged at 2.9 per cent of GDP

Budget proposes Plan expenditure of Rs 5,75,000 crore for current ficsal.

Annual PPF ceiling to be enhanced to Rs 1.5 lakh, from Rs 1 lakh

Airports to be developed in tier 1 and 2 cities, 16 new port projects to be awarded this year

Investment in NHAI and state highways to the tune of Rs 37,887 crore, including Rs 3000 crore for North East

Govt committed to providing 24x7 power supply to all homes: FM

Single KYC norms for all financial services and one demat account for all financial products

Rs 500 crore for solar power development project in Tamil Nadu and Rajasthan

Rs 11,600 cr for developing outer harbour projects Rs 11,600 cr for developing outer harbour projects

Mining issues to be resolved on priority

Govt proposes to set up 100 smart cities.

Govt to provide Rs 7,060 crore for development of such cities:

20 new industrial clusters announced

We will examine proposal to give greater autonomy to banks: FM.

Budget proposes 49 per cent FDI in insurance through FIPB route

Propose to provide finance to 5 lakh landless farmers through NABARD

Manufacturing units will be allowed to sell their products through retail and e-commerce: Jaitley.

Committed to sustaining 4% growth in agriculture, extend credit to joint farming groups

Rs 500 crore allocated for stabilizing prices of agricultural commodities

Rs 3600 cr set aside for National Rural Drinking Water: FM

We will examine proposal to give greater autonomy to banks: FM.

Budget proposes 49 per cent FDI in insurance through FIPB route

Propose to provide finance to 5 lakh landless farmers through NABARD

Manufacturing units will be allowed to sell their products through retail and e-commerce: Jaitley.

Committed to sustaining 4% growth in agriculture, extend credit to joint farming groups

Rs 500 crore allocated for stabilizing prices of agricultural commodities

Rs 3600 cr set aside for National Rural Drinking Water: FM

Rural housing: Rs 8000 crore for national housing banking programme

FM announces development of Metro rails in PPP mode; Rs. 100 cr set aside for metro scheme in Ahmedabad and Lucknow

Each year government will be adding AIIMS to ensure there is an AIIMS in every state: Jaitley

Rs 100 crores to set up virtual classrooms

Rs 500 crores for setting up 5 more IIMs and IITs

FM Proposes to enhance the scope of income tax settlement commission

Rs 7,060 crore allocated for building new cities

Jaitley announces e-visas to promote tourism

The government is committed to the welfare of scheduled castes and tribes.

Rs 200 crores credit scheme for start-ups by those from scheduled castes and tribes

Government is committed to providing 24x7 electricity in all houses

Jaitley announces Skill India, a programme to train youth for jobs

Equity in PSU banks to be raised through share sale to the public

Rural housing: Rs 8000 crores for national housing banking programme

MGNREGA programme to made more productive

Women's safety: Rs 100 crores for Beti Bachcao, Beti Padhao Yojana

Senior Citizens Pension Plan Extended Till August 2015

Aim to achieve 7-8 per cent economic growth rate in next 3-4 years: FM

We need to revive growth particularly in manufacturing sector and infrastructure: FM

Anti-poverty programmes will be targeted well.

Will leave no stone unturned to create a vibrant India: FM.

Should not allow economy to suffer because of indecisiveness and populism: Finance Minister Arun Jaitley

Finance Minister emphasizes on fiscal prudence, need to generate more resources

Target of 4.1 per cent fiscal deficit is daunting but accepting it as a challenge: FM

Defence FDI cap raised to 49% from 26% at present

Promote FDI selectively in sectors. India needs a boost in job creation in the manufacturing sector

All retro tax cases to be scrutinized by a high-level committee

Arun Jaitley said the Budget is a beginning of journey to return to 7-8% growth.

Fiscal deficit for 2014-15 pegged at 4.3% and for next year at 3%

Poor suffer the most, we have to ensure anti-poverty programmes are well targeted.

Tax-GDP Ratio Must Be Improved, says Jaitley

15/08/2012

अपनी आझादी को हम हरगीज मिटा सकते नहीं
सर कटा सकते हैं लेकीन सर झूका सकते नहीं

हमने सदियों में ये आझादी की नेमत पाई हैं
सैकडों कुरबानियाँ दे कर ये दौलत पाई हैं
मुस्कुराकर खाई हैं सीनों पे अपने गोलियाँ
कितने विरानों जो गुजरे हैं पर जन्नत पाई हैं
खाक में हम अपनी इज्जत को मिला सकते नहीं

क्या चलेगी जुल्म की एहल-ए-वफा के सामने
आ नही सकता कोई शोला हवा के सामने
लाख फौजे ले के आए अम्न का दुश्मन कोई
रुक नही सकता हमारी एकता के सामने
हम वो पत्थर हैं जिसे दुश्मन हिला सकता नहीं

वक्त की आवाज के हम साथ चलते जायेंगे
हर कदम पर जिंदगी का रूख बदलते जायेंगे
अगर वतन में भी मिलेगा कोई गद्दार-ए-वतन
अपनी ताकत से हम उस का सर कुचलते जायेंगे
एक धोका खा चुके हैं और खा सकते नहीं

हम वतन के नौजवान हैं, हम से जो टकरायेगा
वो हमारी ठोकरों से खाक में मिल जायेगा
वक्त के तुफान में बह जायेंगे जुल्म-ओ-सितम
आंसमां पर ये तिरंगा उम्र भर लहरायेगा
जो शपथ बापू ने सिखलाया वो भूला सकते नहीं

27/07/2012