Revised Guidelines for Concurrent Audit System in Commercial Banks

Revised Guidelines for Concurrent Audit System in Commercial Banks

August 17, 2015 | Uncategorized | By CA.Pankaj Kumar Mishra ACA , ISC (Mathematics) ,MCOM | 0 Comments

Revised Guidelines for Concurrent Audit System in Commercial Banks RBI/2015-16/133 DBS.CO.ARS.No. BC. 2/08.91.021/2015-16 (A) Scope of concurrent audit Concurrent audit is an examination which is contemporaneous with the occurrence of transactions or is carried out as near thereto as possible. It attempts to shorten the interval between a transaction and its examination by an independent […]

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RBI And FEMA Interest Rate Futures (Reserve Bank) (Amendment) Directions, 2015

August 13, 2015 | Uncategorized | By CA.Pankaj Kumar Mishra ACA , ISC (Mathematics) ,MCOM | 0 Comments

Notification No. FMRD.DIRD.09 /ED(CS) – 2015 dated June 12, 2015 Interest Rate Futures (Reserve Bank) (Amendment) Directions, 2015 The Reserve Bank of India having considered it necessary in public interest and to regulate the financial system of the country to its advantage, in exercise of the powers conferred by section 45W of the Reserve Bank […]

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Direct Tax recent Judgments and Updates

August 6, 2015 | Uncategorized | By CA.Pankaj Kumar Mishra ACA , ISC (Mathematics) ,MCOM | 0 Comments

Cost Inflation Index for Financial Year 2014-15 notified – Capital Gain Section 48 [223 TAXMANN (st) 137] The Central Government vide Notification No. 31/2014, notified the Cost of Inflation Index as “1024” for the Financial Year 2014-15. DTAA – Agreement for Exchange of Information with respect to taxes of Foreign Countries – Principality of Liechtenstein […]

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Indirect Taxes Recent Judgements

August 5, 2015 | Uncategorized | By CA.Pankaj Kumar Mishra ACA , ISC (Mathematics) ,MCOM | 0 Comments

CENTRAL EXCISE ACT SECTION 4 VALUATION UNDER CENTRAL EXCISE – TRANSACTION VALUE Clearances of ‘motor vehicles parts’ manufactured by job-worker for use in manufacture of ‘motor vehicles’ by principals, would be valued as per rule 11 and valuation rules 8 and 9 cannot apply thereto –(2015) 57 taxmann.com 299 (SC)   SECTION 5A EXEMPTIONS – […]

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