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For kind information of the members
Sub : Penal provisions for the members of the Institute who had not complied with their CPE Hours requirements for the block period of 3 years (1-1-2011 to 31-12-2013) |
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In order to function the system of
mandatory CPE effective, the Council of the Institute of Chartered
Accountants of India has decided that the members who fail to comply with
their CPE Hours requirement for the current block of 3 years (1-1-2011 to
31-12-2013) are appropriately sanctioned. Therefore, the Council of the
Institute has decided as under :
·
All the
members are required to complete their CPE hours requirements for the block
period of 3 years (1-1-2011 to 31-12-2013) by 31st December, 2013.
·
Any
shortfall in the CPE credit for the calendar years 2011, 2012 and 2013 should
be met by the members by 31st December, 2013.
·
The
names of the members who fail to comply with their CPE hours Requirements for
the block period of 3 years by 31st December, 2013 would be hosted on the
website of the ICAI for information of public at large.
·
Further,
the ICAI will not be responsible in any way for any action taken by any of
the regulatory authorities on the basis of the names hosted on the website
for allotting the professional work to them as sole proprietor or to their
partnership firm.
·
To
strike out the name/s from the list so hosted on the website, the member/s
shall have to make up any shortfall in their CPE credit hours for the above
block period of 3 years by obtaining twice of the amount of the shortfall.
Such addition shall be in addition to the regular CPE hours requirement for
the particular Calendar year in which they are making up the shortfall.
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The members are requested to note
the above. The members are also requested to comply with the CPE Hours
requirements for the current year by 31st December, 2013.
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COMMITTED FOR THE GROWTH
Wednesday, 9 October 2013
Penal provisions for the members of the Institute who had not complied with their CPE Hours requirements for the block period of 3 years
Tuesday, 8 October 2013
Clarification about Applicability of the latest Finance Act and other changes for Company Secretaries December, 2013 Examination
Clarification about Applicability of the
latest Finance Act and
other changes for Company Secretaries December,
2013 Examination
other changes for Company Secretaries December,
2013 Examination
APPLICABLE ON
Institute of Company Secretaries of India (ICSI) has issued
clarification about applicability of the latest Finance Act
and other changes for Company Secretaries December, 2013 Examination.
and other changes for Company Secretaries December, 2013 Examination.
The clarification is applicable for the
following students:-
1. Students of Executive Programme
·
For appearing in the
Paper "Tax Laws (Old Syllabus)"
·
For appearing in the
Paper "Tax Laws and Practice (New Syllabus)"
2. Students of Professional Programme
·
For appearing in the
Paper " Advanced Tax Laws and Practice "
DIRECT TAXES
Direct Taxes applicable for December 2013 Examination shall
be Assessment Year 2013-14 (Previous Year 2012-13).
Students are advised
to study:-
1.
Finance
Act, 2012 for December
2012 Examination
2.
All the Circulars,
Clarifications, Notifications, etc. issued by the CBDT & Central
Government, on or before
six months prior to the date of the respective examinations.
six months prior to the date of the respective examinations.
INDIRECT TAXES
Students appearing in ‘Executive Programme’ (in the ‘Tax Laws’) and 'Professional
Programme' (in the 'Advanced
Tax Laws and Practice') respectively may take note of the following changes applicable for December 2012
Examination.
Tax Laws and Practice') respectively may take note of the following changes applicable for December 2012
Examination.
·
All changes made by
the Finance Act, 2013.
·
All Circulars,
Clarifications/Notifications issued by CBEC / Central Government effective six
months prior to the
examination.
Students can see the Official Clarification by clicking the following link :-
(For Executive Programme)
(For Professional Programme)
Sunday, 6 October 2013
TDS Credit must be given even if TDS Certificate is not available/ entry is not shown in Form 26AS
TDS Credit must be given even if TDS Certificate is not available/ entry is not shown in Form 26AS
The assessee claimed credit for TDS which was denied by the AO on the ground that the claim did not match the entries shown in Form No. 26AS and that there was a discrepancy. On appeal, the CIT(A) held that the assessee would be entitiled to credit to the extent shown in the computer system of the department. On further appeal by the assessee to the Tribunal HELD:
The AO is not justified in denying credit for TDS on the ground that the TDS is not reflected in the computer generated Form 26AS. In Yashpal Sahwney 293 ITR 539 the Bombay High Court has noted the difficulty faced by taxpayers in the matter of credit of TDS and held that even if the deductor had not issued a TDS certificate, still the claim of the assessee has to be considered on the basis of the evidence produced for deduction of tax at source. The Revenue is empowered to recover tax from the person responsible if he had not deducted tax at source or after deducting failed to deposit with Central Government. The Delhi High Court has in Court On Its Own Motion Vs. CIT 352 ITR 273 directed the department to ensure that credit is given to the assessee even where the deductor had failed to upload the correct details in Form 26AS on the basis of evidence produced before the department. Therefore, the department is required to give credit for TDS once valid TDS certificate had been produced or even where the deductor had not issued TDS certificates on the basis of evidence produced by assessee regarding deduction of tax at source and on the basis of indemnity bond.
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