ICAI Branch Elections: Ahmedabad

Welcome back to the election season. It's now turn of the branches. Here is the final list of the candidates contesting the Ahmedabad branch election scheduled on 9th March 2013. There are 8 members to be elected to the managing committee of the Ahmedabad branch. The no. of candidates in the fray are only 14. Not too bad, not even 2 candidates for one seat. 

Ahmedabad Branch Elections
Sr. No.	Name of the Candidate
1	Dave Sonal Sanjaybhai
2	Jain Vikash Kumar
3	Jani Hersh Samirbhai
4	Jha Satyendrakumar Krishnadeo
5	Khandelwal Purushottamlal
6	Parikh Mukesh Ochhavlal
7	Patel Amrish Jashvantlal
8	Patel Bhaumil Karamshibhai
9	Patel Chintan Nareshkumar
10	Pulavwala Murtuza H.
11	Shah Bishan Rameshchandra
12	Shah Hiren Dineshchandra
13	Talati Aniket Sunil
14	Tulsian Pradeep Govindram

Who stands the chance to win this battle? 

It is really very very difficult to predict anything in this election as the basic voting method has been changed now. It's going to be preferential voting method. In earlier elections, we have seen everyone was allowed to vote for 8 candidates and each vote carried equal value. That was the precise reason that we used to see two panels and people in one panel could have got their majority of candidates elected. So for example, I came to vote for Mr. X and when I vote for eight candidates, the seven candidates other than Mr. X would also got the equal value of votes and the powerful panel got the probability of getting more candidates elected.

But this has all changed now. Now when I go to vote for Mr. X, Mr. X will only get my highest and the value of the other candidates to whom I vote, will not have the same value as I will give them subsequent preferences. That makes this game more interesting. I will give my analysis on who has the best chance to win this battle. Who are those, who stands the chance to be in the top eight. I will write in my subsequent dispatches. Tomorrow and later. Today I will write on what is this preferential voting.

What is this new voting system - single transferable vote (STV)?

By CA Gopal Krishna Raju

What is STV: The single transferable vote (STV) is a voting system designed to achieve proportional representation through ranked voting. Under STV, an elector's vote is initially allocated to his or her most preferred candidate, and then, after candidates have been either elected or eliminated, any surplus or unused votes are transferred according to the voter's stated preferences. The system minimizes "wasted" votes, provides approximately proportional representation, and enables votes to be explicitly cast for individual candidates. It achieves this by using multi-seat region (8 managing committee members for Ahmedabad branch) and by transferring votes to other eligible candidates that would otherwise be wasted on sure losers or sure winners.

150 year History of STV: The concept of transferable voting was first proposed by Thomas Wright Hill in 1821. The system remained unused in real elections until 1855, when Carl Andræ proposed a transferable vote system for elections in Denmark. Andræ's system was used in 1856 to elect the Danish Rigsraad.

Who: Although he was not the first to propose a system of transferable votes, the English barrister Thomas Hare is generally credited with the beginning of STV, and he may have independently developed the idea in 1857. Hare's view was that STV should be a means of "making the exercise of the suffrage a step in the elevation of the individual character, whether it is found in the majority or the minority." In Hare's original STV system, he further proposed that electors should have the opportunity of discovering which candidate their vote had ultimately counted for, to improve their personal connection with voting. This is unnecessary in modern STV elections, however, as an individual voter can discover how their vote was ultimately distributed by viewing detailed election results.

THE LEGENDARY QUOTA: THE QUOTA (THRESHOLD) IS THE NUMBER OF VOTES A CANDIDATE MUST RECEIVE TO BE ELECTED. THE HARE QUOTA AND THE DROOP QUOTA ARE COMMONLY USED TO DETERMINE THE QUOTA. WHEN THOMAS HARE ORIGINALLY CONCEIVED HIS VERSION OF SINGLE TRANSFERABLE VOTE, HE ENVISIONED USING THE QUOTA AS: [VOTES POLLED / SEATS]

The Hare Quota

H2D: In the unlikely event that each successful candidate receives exactly the same number of votes not enough candidates can meet the quota and fill the available seats in one count. There is probability the last candidate cannot meet the quota, and it may be fairer to eliminate that candidate.

To avoid this inept situation, it is common to use the Droop quota instead of Hare Quota, which is always lower than the Hare quota.

Droop quota: ICAI Method: (Rule 35, Schedule 8: Procedure for Counting of Votes and declaration of results)

The ICAI quota formula is the Droop quota which given as: [Votes polled / (seats + 1)] + 1

The Droop Quota

Droop produces a lower quota than Hare. If each ballot paper has a full list of preferences, Droop guarantees that every winner meets the quota rather than being elected as the last remaining candidate after lower candidates are eliminated. The fractional part of the resulting number, if any, is dropped (the result is rounded down to the next whole number.)

It is only necessary to allocate enough votes to ensure that no other candidate still in contention could win. This leaves nearly one quota's worth of votes unallocated, but counting these would not alter the outcome.

Droop is the only whole-number threshold for which

(a)   a majority of the voters can be guaranteed to elect a majority of the seats when there is an odd number of seats;

(b)   For a fixed number of seats.

Each winner's surplus votes transfer to other candidates according to their remaining preferences.

Counting Single Transferable Votes

The single transferable vote (STV) is a voting system based on proportional representation and ranked voting. Under STV, an elector's vote is initially allocated to his or her most-preferred candidate. After candidates have been either elected (winners) by reaching quota or eliminated (losers), surplus votes are transferred from winners to remaining candidates (hopefuls) according to the surplus ballots' ordered preferences.

The system minimizes "wasted" votes, provides approximately proportional representation, and enables votes to be explicitly cast for individual candidates rather than for closed party lists. A variety of algorithms (methods) carry out these transfers.

COUNTING RULES

Under the single transferable vote system, votes are successively transferred to hopefuls from two sources:

·         Surplus votes (i.e. those in excess of the quota) of successful candidates

·         All votes of eliminated candidates.

The possible algorithms for doing this differ in detail, e.g., in the order of the steps. There is no general agreement on which is best, and the choice of exact method may affect the outcome.

1.    Compute the quota.

2.    Assign votes to candidates by first preferences.

3.    Declare as winners all candidates who received at least the quota.

4.    Transfer the excess votes from winners to hopefuls.

5.    Repeat step 2 to step 4 until new candidates are elected. (Caution: Under some systems, votes could be transferred in this step to earlier winners or losers. This might affect the outcome.)

If all seats have winners, the process is complete. Otherwise:

6.    Eliminate one or more candidates. Typically either the lowest candidate or all candidates whose combined votes are less than the vote of the lowest remaining candidate.

7.    Transfer the votes of the losers to continuing candidates are declared to be losers.

8.    Repeat step 2 to step 7 until all seats are full.

IndianCAs: UNION BUDGET 2013 [1 Attachment]

 

[Attachment(s) from Ashwin Nagar included below]

Union Bedget 2013.

| Ashwin Nagar | FCA and SAP-Finance & Consolidations |

Success is not permanent and failure is not final

 

__._,_.___

Attachment(s) from Ashwin Nagar

1 of 1 File(s)

unionbudget2013total.pdf

Reply via web post

Reply to sender

Reply to group

Start a New Topic

Messages in this topic ()

Recent Activity:

Visit Your Group

Note: All messages posted by members including me on this group are sent in their personal capacity. No official position held anywhere by them have nothing to do with this email group. The group does   not accept any responsibility with regards to accuracy or the mistakes in the material circulated on this group. Please confirm from your independent source before using the information or material posted on this group.
*************************************************************************
Further, your attention is invited:

The messages on this group are approved only when the moderator finds it of immense importance to the members at general, otherwise, this group is not used for discussion or as discussion forum.

Switch to: Text-Only, Daily Digest • Unsubscribe • Terms of Use • Send us Feedback

.

__,_._,___

Last Date to File ST 3 Return July 12 to Sep 12 & Revised Form ST 3

Posted In Service Tax | Notification | No Comments »

Instruction regarding Notification No. 1/2013- Service Tax dated 22-2-2013 which seeks to amend the Service Tax Rules 1994 so as to prescribe the revised return Form ST3 and also stipulate that the last date for filing a return for the period July 2012 to September 2012, is 25th March 2013.

F. No. 137/98/2006-CX-4 ( Part-I), Dated- 22nd February 2013

Subject: Revised Form ST 3
Attention is invited to this office letter dated 28^th September 2012 issued from F. No 137//22/2012-Service Tax ( copy of which can be accessed at www.cbec.gov.in) , wherein it was informed , inter alia, that in the ST- 3 return which was due by 25-10-2012, assessees had to provide data only for the period 1-4-2012 to 30-6-2012 . It was also informed therein that data for the period 1-7-2012 to 30-9-2012 would have to be furnished in a return in a revised format and that the revised format of the return and the last date for filing it would be indicated separately.

2. Data for the remaining portion of the half year ( i.e 1-7-2012 to 30-9-2012 ) can now be furnished by the assessees in the revised Form ST3 , which has been notified vide notification 1/2013 –Service Tax dated 22- 2-2013 . Since ordinarily this would have formed part of the return , the due date of which was 25^th October 2012, rule 7(2) of the Service Tax Rules 1994 has also been amended vide the same notification, so as to provide that the last date for filing the return covering the period 1-7-2012 to 30-9-2012 is 25-3-2013. It is clarified that when filing this return, assessees need to fill in data only for the period 1-7-2012 to 30-9-2012.

3. The paper version has to be notified for legality( reference paragraph 2 above). It must however be borne in mind that in terms of rule 7(3) of the Service Tax Rules 1994, all returns have to be filed electronically. The electronic version, to be completed by the assessee, may therefore differ in certain aspects from the paper version. For example, for certain fields, drop down menus from which an option has to be chosen, will be there in the electronic version but not in the paper version . Similarly provisions in the electronic version to add rows or validate entries cannot be appropriately indicated in the paper version. The revised Form ST-3 is expected to be available on ACES by the first week of March. However in the event of any delay , the last date will be suitably extended and adequate time given so that no inconvenience is caused to the assessees. The assessees are advised to access the ACES website wherein updates will be given.

4. The objective behind revising the ST-3 form has been to retain the existing structure, which both the assessees and the departmental officers are familiar with, while making some changes required after 1-7-2012. Assessees are expected to fill in service wise data as before, for effective use of the data available consequent to the restoration of accounting codes. In the interregnum, the assessee might not be able to do so, as duty payment was not required to be service wise. While recognizing this difficulty, assessees are requested to provide service wise data, to the extent possible, for this period also.

5. The above information may be communicated to departmental officers and assessees. Hindi version to follow.

Yours faithfully,

(S.M. Tata)

Commissioner( Service Tax)

Central Board of Excise and Customs

Form 26B- TDS Refund

New Form 26B to claim excess TDS deposited by Deductor

Income-tax Rules regarding refund of excess deposit of TDS by deductor has been amended in notification 11/2013 dated 19/02/2013. In this notification deductor can claim refund of excess TDS by filing the return electronically on New Form 26B with digital signature only .New rule 31A(3A) has been inserted under rule 31A. Further Director General of Income Tax Systems has been authorised to set the procedure to claim the refund. New form 26B is provided here under for download.

"Rule 31 A(3A) A claim for refund, for sum paid to the credit of the Central Government under Chapter XVII-B, shall be furnished by the deductor in Form 26B electronically under digital signature in accordance with the procedures, formats and standards specified under sub-rule (5).";

"(5) The Director General of Income-tax (Systems) shall specify the procedures, formats and standards for the purposes of furnishing and verification of the statements or claim for refund in Form 26B and shall be responsible for the day-to-day administration in relation to furnishing and verification of the statements or claim for refund in Form 26B in the manner so specified.".

Changes in TDS Returns

TDS return under digital signature optional, new TDS forms and an insertion of new rule to claim TDS refund

Certain changes are brought by Income-tax (Second Amendment) Rules, 2013 with regard to the compliance to be made in respect of TDS and TCS, namely: 1) All statements to be furnished in Form nos. 24Q, 27Q and 26Q shall be furnished electronically and deductor has an option to furnish it under a digital signature; 2) Deductor can file statement in the new Form 26B to claim refund of the sum paid to the Central Government under Chapter XVII-B, provided: a.      The credit of such sum has not been claimed by the deductor; b.     No demand is outstanding against deductor 3) Following forms have been substituted: a.      Form 15G – Declaration to be given for claiming certain receipts without TDS b.     Form 15H - Declaration to be given by an Individual, who is above 60 years of age, for claiming certain receipts without TDS c.      Form 16 – Certificate of tax deduction from salary d.     Form 16A – Certificate for tax deduction from any other payment e.      Form 27C - Declaration to be given for obtaining goods without collection of tax f.       Form 27D – Certificate for tax collected at source g.     Form 27EQ – Quarterly statement for tax collected at source h.     Form 27Q – Quarterly statement for tax deducted at source (View Notification)

Statutory Central Auditors of Bank-2012-13

Names of Audit Firms approved for appointment as Statutory Central Auditors in 25 Public Sector Banks for the year 2012-13

Allahabad Bank, Kolkata 1 M/s N K Bhargava & Co, New Delhi 2 M/s M C Jain & Co, Kolkata 3 M/s Raghu Nath Rai & Company, New Delhi 4 M/s Khandelwal Kakani & Co, Indore 5 M/s Batliboi & Purohit , Mumbai 6 M/s Sarath & Associates, Hyderabad Andhra Bank, Hyderabad 1 M/s Umamaheswara Rao & Co, Hyderabad 2 M/s R Subramanian & Company , Chennai 3 M/s Patro & Co, Bhubaneshwar 4 M/s Nataraja Iyer & Co, Hyderabad 5 M/s C R Sagdeo & Co, Nagpur 6 M/s Nag & Associates, Dankuni Bank of Baroda, Mumbai 1 M/s S K Mittal & Co, New Delhi 3 M/s Ray & Ray, Kolkata 4 M/s N B S & Co, Mumbai 5 M/s Laxminiwas Neeth & Co, Hyderabad 5 M/s Brahmayya & Co, Chennai 6 M/s KASG & Co, Dhanbad Bank of India, Mumbai 1 M/s Karnavat & Co, Mumbai 2 M/s L. B. Jha & Co, Kolkata 3 M/s S R B & Associates, Bhubaneshwar 4 M/s Sankaran & Krishnan, Chennai 5 M/s Chaturvedi & Shah, Mumbai 6 M/s Isaac & Suresh, Thiruvananthapuram Bank of Maharashtra, Pune 1 M/s N Kumar Chhabra & Co, Chandigarh 2 M/s Kirtane & Pandit , Pune 3 M/s DSP & Associates, New Delhi   4 M/s J C Bhalla & Co, New Delhi 5 M/s G Basu & Co, Kolkata 6 M/s Singh Ray Mishra & Co, Bhubaneswar Canara Bank , Bangalore 1 M/s H K Chaudhry & Co, New Delhi 2 M/s K. Venkatachalam Aiyer & Co, Thiruvananthapuram 3 M/s S P Chopra & Co, New Delhi 4 M/s Loonker & Co, Mumbai 5 M/s P Chopra & Co, Karnal 6 M/s A R Das & Associates, Kolkata Central Bank of India, Mumbai 1 M/s K S Aiyar & Co, Mumbai 2 M/s Ghiya & Co, Jaipur 3 M/s D Rangaswamy & Co, Chennai 4 M/s SAMSAND & Associates, New Delhi 5 M/s Kumar Chopra & Associates, New Delhi 6 M/s P K Subramaniam & Co, Raichur Corporation Bank, Mangalore 1 M/s Vinod Kumar & Associates, New Delhi 2 M/s Suresh Chandra & Associates, New Delhi 3 M/s O P Totla & Co, Indore 4 M/s Rajendra K Goel & Co, New Delhi 5 M/s K. Varghese & Co, Kochi 6 M/s V Narayanan & Co, Chennai Dena Bank, Mumbai 1 M/s B. K. Khare & Co, Mumbai 2 M/s Gandhi Minocha & Co, New Delhi 3 M/s S N Dhawan & Company, New Delhi 4 M/s P K Chopra & Co, New Delhi 5 M/s Avanish K Rastogi & Associates, Lucknow 6 M/s S C Bapna & Associates, Vadodara Indian Bank,Chennai 1 M/s S Mohan & Co, New Delhi 2 M/s Raj K Aggarwal & Associates, New Delhi 3 M/s A B P & Associates, Bhubaneswar 4 M/s Sharp & Tannan, Mumbai 5 M/s Bhattacharya Das & Co, Kolkata 6 M/s Deoki Bijay & Co, Kolkata Indian Overseas Bank, Chennai 1 M/s Badari Madhusudhan & Srinivasan, Bangalore 2 M/s B Thiagarajan & Co, Chennai 3 M/s S R Mohan & Co, Hyderabad 4 M/s Sankar & Moorthy, Thiruvananthapuram 5 M/s P R Mehra & Co, New Delhi 6 M/s Dass Khanna & Co, Ludhiana Oriental Bank of Commerce, New Delhi 1 M/s Agiwal & Associates, New Delhi 2 M/s Jain Kapila Associates, New Delhi 3 M/s B Purushottam & Co, Chennai 4 M/s P L Tandon & Co, Kanpur 5 M/s Shah & Taparia, Mumbai 6 M/s Bansal R Kumar & Associates, New Delhi Punjab & Sind Bank, New Delhi 1 M/s R M Lall & Co, Lucknow 2 M/s G S Goel & Co, New Delhi 3 M/s O P Tulsyan & Co, New Delhi 4 M/s S B G & Co, New Delhi 5 M/s B K Shroff & Co, Kolkata 6 M/s R Kothari & Company, Kolkata Punjab National Bank, New Delhi 1 M/s Borkar & Muzumdar, Mumbai 2 M/s G S Madhava Rao & Co , Hyderabad 3 M/s Phillipos & Co, Bangalore 4 M/s K N Gutgutia & Co, Kolkata 5 M/s CVK & Associates, Mumbai 6 M/s Ramesh Kapoor & Co, Srinagar Syndicate Bank 1 M/s Thakur Vaidyanath Aiyar & Co, New Delhi 2 M/s Chandiok & Guliani, New Delhi 3 M/s J N Sharma & Co, Kanpur 4 M/s Ramanlal G Shah & Co, Ahmedabad 5 M/s Sambhu N De & Co, Kolkata 6 M/s K N Goyal & Co, New Delhi UCO Bank, Kolkata 1 M/s SBA Associates, Kolkata 2 M/s Ved and Company, Ghaziabad 3 M/s Dass Gupta & Associates New Delhi 4 M/s Baweja and Kaul, Jammu 5 M/s Gupta Sharma & Associates, Jammu 6 M/s A Kayes & Co, Kolkata Union Bank of India, Mumbai 1 M/s Price Patt & Co, Chennai 2 M/s Singrodia Goyal & Co, Mumbai 3 M/s G S Mathur & Co, New Delhi 4 M/s Jindal & Co, New Delhi 5 M/s Shah Gupta & Co, Mumbai 6 M/s V Rohatgi & Co, Ranchi United Bank of India, Kolkata 1 M/s George Read & Co, Kolkata 2 M/s D K Chhajer & Co, Kolkata 3 M/s M Choudhury & Co, Kolkata 4 M/s M C Bhandari & Co, Kolkata 5 M/s Ramesh C Agrawal & Company, Allahabad 6 M/s Dinesh Mehta & Company, New Delhi Vijaya Bank, Bangalore 1 M/s S Viswanathan, Chennai 2 M/s Rao Associates, Bangalore 3 M/s Contractor Nayak & Kishnadwala, Mumbai 4 M/s Mukund M Chitale & Co, Mumbai 5 M/s Karra & Co, Chennai 6 M/s N C Mittal & Co, New Delhi State Bank of India 1 M/s Singhi & Co, Kolkata 2 M/s S C M  Associates, Bhubaneshwar 3 M/s Todi Tulsyan & Co, Patna 4 M/s S N Nanda & Co, New Delhi 5 M/s Prakash & Santosh , Kanpur 6 M/s K B Sharma & Co, Jammu 7 M/s ADD & Associates, Kolkata 8 M/s V Soundararajan & Co, Chennai 9 M/s V P Aditya & Co, Kanpur 10 M/s S Venkatram & Co, Chennai 11 M/s S Jaykishan, Kolkata 12 M/s T R Chadha & Co, New Delhi 13 M/s Dhamija Sukhija & Co, Srinagar 14 M/s Sriramamurthy & Co, Vishakhapatnam State Bank of Bikaner & Jaipur, Jaipur 1 M/s Agarwal Anil & Co, New Delhi 2 M/s S Daga & Co, Hyderabad 3 M/s M K Aggarwal & Company, New Delhi 4 M/s Chaturvedi & Company, Kolkata 5 M/s Uberoi Sood & Kapoor, New Delhi 6 M/s P S D & Associates, Jaipur State Bank of Hyderabad, Hyderabad 1 M/s Rao & Narayan, Vijayawada 2 M/s S Mann & Co, New Delhi 3 M/s Elias George & Co, Kochi 4 M/s Khanna & Annadhanam, New Delhi 5 M/s Sharma Goel & Co, New Delhi 6 M/s SRI Associates, Kolkata State Bank of Mysore, Bangalore 1 M/s B L Ajmera & Co, Jaipur 2 M/s Bhasin Raghavan & Company, New Delhi 3 M/s M K P S & Associates. Bhubaneshwar 4 M/s K P Rao & Co, Bangalore 5 M/s Maharaj N R Suresh and Co, Chennai 6 M/s Bubber Jindal & Co, New Delhi State Bank of Patiala, Patiala 1 M/s Gupta Gupta & Associates, Jammu 2 M/s Abhijit Dutt & Associates, Kolkata 3 M/s S L Gangwal & Co, Jaipur 4 M/s Rawla & Co, New Delhi 5 M/s Sreedhar Suresh & Rajagopalan, Chennai 6 M/s Patel Mohan Ramesh & Co, Bangalore State Bank of Travancore, Thiruvananthapuram 1 M/s G K Rao & Co, Hyderabad 2 M/s Abraham & Jose, Thrissur 3 M/s Jagdish Chand & Co, New Delhi 4 M/s B V Rao & Co, Vishakhapatnam 5 M/s R G N Price & Co Chennai 6 M/s Sridhar & Co, Thiruvananthapuram

Case Law on Section 40(a)(ia)-Section 194 C

Mere providing of machinery on hire without any manpower cannot be termed as carrying out of any work by plant and machinery owners and, thus, no tax is required to be deducted under section 194C - [2013] 30 taxmann.com 235 (Hyderabad - Trib.)

XBRL e-Filing Extended

FILING OF BALANCE SHEET AND PROFIT AND LOSS ACCOUNT IN eXTENSIBLE BUSINESS REPORTING LANGUAGE (XBRL) MODE FOR THE FINANCIAL YEAR COMMENCING ON OR AFTER 1-4-2011

GENERAL CIRCULAR NO. 5/2013 [NO. 17/161/2012-CL-V], DATED 12-2-2013

In continuation of the Ministry's General Circular Nos. 16/2012, dated 6-7-2012, 34/2012, dated 25-10-2012, 39/2012, dated 12-12-2012 and 1/2013 on the subject cited above, it is stated that the time limit to file the financial statements in the XBRL mode without any additional fee/penalty has been extended up to 28th February, 2013 or within 30 days from the due date of AGM of the company, whichever is later.

All other terms and conditions of the General Circular No. 16/2012, dated 6-7-2012 will remain the same.

Important Notice

Ministry of Corporate Affairs acknowledges that services on MCA are not of the fullest satisfaction of the stakeholders for last few days. The Ministry is seized of the matter and taking all necessary steps for smooth functioning of MCA21. Further that Ministry will consider appropriate & due waiver of the additional fee or any other issue being faced by stakeholders due to non-filing of information because of problems in MCA21 system in last few days.

RELAXATION OF ADDITIONAL FEES AND EXTENSION OF LAST DATE IN FILING OF VARIOUS FORMS WITH THE MINISTRY OF CORPORATE AFFAIRS

CIRCULAR NO. 3/2013, DATED 8-2-2013

I am directed to inform you that the Ministry of Corporate Affairs has decided to extend the last date of filing and to relax the additional fees applicable on forms as per the provisions of Companies Act read with rules made thereunder, which have been ought to be filed post transition of MCA 21 w.e.f. 17.01.2013, but could not be filed due to technical issues in MCA-21 system.

2. It is hereby clarified that the following relaxation shall be considered by the Regional Director/Registrar of Companies on case to case basis while allowing for relaxation of fees or extension of last date with regard to forms to be filed by the stakeholders wherein :

 (i)  Last date of filing for Forms where the due date is falling on or after 17th January, 2013 is without charging additional fee.

(ii)  All the documents which have been expired on or after 17th January due to non-submission/re-submission PUCL may be restored back.

(iii) All the cases related to filing of court orders/competent authority where the due date/date of filing was falling on or after 17th January is extended without payment of additional fees.

(iv)  Name availability expired due to non-submission of incorporation documents will be made available for filing of the same.

(v)  In case of charge documents the due date will be extended by Regional Director on case to case basis where the due date of filing was falling on or after 17/01/2013 and could not be filed.

(vi)  The due date in above cases is hereby extended till 28/02/2013.

3. The Regional Director/Registrar of Companies will examine the request on case to case basis upon receipt of request from the stakeholders for allowing the relaxation without levying the additional fee.

4. The process of extending date will be as under:-

 a.  Company/ professional will make request by e-mail/post with RD/ROC alongwith the supporting documents if, any;

 b.  RD/ROC will raise ticket on service desk immediately after examining the application;

 c.  The team of operator will resolve the ticket as per the request of RD/ROC. A system generated mail will be sent to RD/ROC and user will be informed accordingly;

 d.  User should file the documents within the time given in the email.

5. The Regional Director/Registrar of Companies is authorized to allow such extension of time for filing form/alongwith necessary document. The RD/ROC will raise ticket in the service desk for allowing such extension of time for filing forms.

6. The stakeholders who are able to file the documents on or after 17/01/2013 till the date of this circular are not eligible for any fees relaxation or extension of last dates. Further they are not entitled for any refund.

IndianCAs: Do your firm need article students?

 

Hi Members,

To help the newly qualified CA students who have passed their IPCC to get them article ship I have taken a new initiative. A portal to get the requirements from the members for articles and at the same time registering requirements from articles. This will help CA firms finding articles and articles students finding CA firms.

If you need CA articles, please register at the following link and we will send you the resumes of everyone who applies for this position.

For CA firms to register:

http://www.indiancas.com/post_job_listing.php

For CA students to register:

http://www.indiancas.com/register.php

Needless to say, this is a free service to the members and students...

Thanks and best regards,

| Ashwin Nagar | FCA and SAP-Finance & Consolidations |

Success is not permanent and failure is not final

 

__._,_.___

Reply via web post

Reply to sender

Reply to group

Start a New Topic

Messages in this topic ()

Recent Activity:

• New Members 2

Visit Your Group

Note: All messages posted by members including me on this group are sent in their personal capacity. No official position held anywhere by them have nothing to do with this email group. The group does   not accept any responsibility with regards to accuracy or the mistakes in the material circulated on this group. Please confirm from your independent source before using the information or material posted on this group.
*************************************************************************
Further, your attention is invited:

The messages on this group are approved only when the moderator finds it of immense importance to the members at general, otherwise, this group is not used for discussion or as discussion forum.

Switch to: Text-Only, Daily Digest • Unsubscribe • Terms of Use • Send us Feedback

.

__,_._,___

INSTRUCTION NO. 2/2013 [F. NO. 316/01/2013-OT], DATED 5-2-2013

SECTION 269UE OF THE INCOME-TAX ACT, 1961 - VESTING OF PROPERTY IN CENTRAL GOVERNMENT - DISPOSAL OF PROPERTIES ACQUIRED UNDER CHAPTER XX-C - SUPERSESSION OF INSTRUCTION NO. 1857, DATED 19-9-1990

INSTRUCTION NO. 2/2013 [F. NO. 316/01/2013-OT], DATED 5-2-2013

In supersession to CBDT Instruction No. 1857 issued on 19-9-1990 vide F. No. 316/22/1989-OT

for auction of properties purchased under Chapter XX-C of the Income-tax Act, 1961, comprehensive instructions on the modalities of fixing the reserve price for auction of properties acquired under Chapter XX-C are as under :

  i.  The reserve price of the property is to be fixed with reference to fair market value of the property.

 ii.  For obtaining the fair market value of the property, the acquired property be referred to Valuation Cell of the Department. Valuation Cell shall submit a Detailed Valuation Report to the Appropriate Authority.

iii.  This detailed valuation report should take into account comparative market analysis by quoting at least three sale instances of similar land use cases/properties in the vicinity.

iv.  The Appropriate Authority shall, based on the Valuation Report, arrive at the reserve price of the property. In case, it is considered necessary by the Appropriate Authority to fix reserve price below the valuation given by the Valuation Cell, proposal shall be sent to the Board giving detailed reasons seeking prior permission.

 v.  The reserve price so determined shall be valid for a period of six months from the date of determination of the same.

Report on Tax Audit

Reporting CBDT on Membership Misuse

We had received the data on tax audit reports e-filed during 2011-12 to ascertain the misuse of membership numbers. Consequently, we recently submitted the details of fake and deceased memberships to the CBDT for appropriate action. We have reported that 652 membership numbers quoted by the assessees in e-returns do not subsist at all. Also, 2,503 tax audits  have been conducted using the fake membership. 311 out of 652 membership numbers belong to the  deceased who passed away before 31-3-2011. 759 out  of 2,503 tax audits were conducted using the identity  of the deceased members.

Source: President Message-CA Journal-Feb,2013

Extension of last date of XBRL filing of cost audit

Extension of last date of XBRL filing of cost audit and compliance report to later of 28-2-13 or 180 days from close of financial year [MCA Circular 2/2013 of 31-01-2013].

http://icmai.in/upload/Institute/Updates/Filing-XBRL-Mode.pdf

Zero Tolerance for Malpractice and Corruption in Tax Dept

Zero Tolerance For Malpractice And Corruption In Tax Dept: Revenue Secretary

The Revenue Secretary has issued an Office Memorandum dated 22.01.2013 in which he has expressed concern over the searches/ investigations conducted by the Anti-Corruption branch of the CBI on the officers of the CBDT & CBEC and the complaints alleging misconduct by the officers in their official conduct of duties. He has stated that such incidents erode the confidence of the taxpaying community and the public and should be avoided. The Revenue Secretary has emphasized that there should be "Zero tolerance towards malpractices and corruption" and that senior officers should lead by example. Some suggestions have been given on how to achieve this salutary goal.