Government Sets Up expert Group To Look Into Auditing Industry.

Acting on a petition Indian audit firms sent to prime minister Narendra Modi recently the corporate affairs ministry  has constituted an expert group to delve into the issues related to the operations of auditing firms in India In the country,

In july representatives of the top 20 Indian audit firms met in Mumbai to discuss ways to combat the increasing influence of multinational firms. Post that meeting Aiyar on behalf of the firms had drafted a petition to the prime minister pointing out hegemony of the big four auditing multinationals and alleging that they engaged In illegal actions. 

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IDS: Tax Offices To Remain Open Till 8:00 PM on Sept 28,29

After ordering the I-T department to keep its offices open till the midnight of September 30 to receive declarations under the one-time domestic black money window, the CBDT on Wednesday asked it to extend its working hours till 8 PM for today and tomorrow in this regard in Tax advisor in India

Video order September 15, it was instructed that the counters for receiving the declaration under IDS, 2016 would remain open till the midnight of September 30, 2016 in all jurisdictions in Chartered accountant in Delhi

"In order to further facilitate the filing of declarations even after office hours, the Principal Chief Commissioners are instructed to ensure that the counters for receiving the declarations under IDS, 2016 remain open till 8:00 PM on September 28 and 29, 2016 in all jurisdictions," the Central Board of Direct Taxes (CBDT) said.

A senior official said no stone is being left unturned to ensure maximum declarations under the window, also called the Income Declaration Scheme (IDS).

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Direct Tax mop up rises 15% to RS 1.89 lakh Cr in April - August.

Net direct tax collections during the April-August period has grown 15.03 per cent to Rs 1.89 lakh crore, led by robust collections in personal income tax.

Direct taxes, which include corporate income tax and personal income tax, collection in the first five months till August is 22.30 per cent of Budget estimates for the full fiscal.

“The figures for direct tax collections up to August, 2016 show that net revenue collections are at Rs 1.89 lakh crore which is 15.03 per cent more than the net collections for the corresponding period last year the CBDT said in a statement  in chartered accountant firms.

The gross collection of Corporate Income Tax (CIT) grew at 11.55 per cent, while that under personal income tax (PIT) it was 24.06 per cent.

However, after adjusting for refunds, the net growth in CIT collections is (-)1.89 per cent while that in PIT collections is 31.76 per cent in chartered accountant in Delhi.

Refunds amounting to Rs 77,080 crore have been issued during April-August, which is 22.18 per cent higher than the refunds issued during the corresponding period last year.

The government hopes to collect Rs 8.47 lakh crore from direct taxes and Rs 7.79 lakh crore from indirect taxes, which includes customs, excise and service tax.

GST to bring biggest business reform Tax expert.

The proposed Goods and services (GST) tax regime is set to bring in biggest business reform, a tax expert said here today.

GST is just not tax reform. I say it is going to biggest business reform.

GST is just not tax reform. I say it is going to bring business reform. I say it is going to bring biggest business.

According to him the implications will not be the same for all and depend on how each one does business.

Referring to various concerns of a few sectors on the issue. Jain urged that unless these correct they might have to suffer. Besides highlighting benefits of GST.

Panda said that he has raised at several locations of the draft, word service is missing instead of goods and services tax in Chartered accountant in Delhi.

I don’t know whether it is deliberate or mistake. I have already raised it.

According to draft GST those not registered with excise cannot claim stock credit. 

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Brace for fall in EPF, PPF rates on govt bond yields

The yields from government bonds to which these rates are linked have fallen 60-70 bps since the last rate cut in March. Currently, the EPF rate is 8.8 per cent, which is unlikely to be maintained this year, reports The Economic Times. A basis point is 1/100th of a percentage point.

Small savings rates and interest rates on retirement savings are likely to be reduced in the near future on a steep fall in the yields on government bonds during the past six months.

The yields from government bonds to which these rates are linked have fallen 60-70 bps since the last rate cut in March. Currently, the EPF rate is 8.8 per cent, which is unlikely to be maintained this year, reports The Economic Times. A basis point is 1/100th of a percentage point.

According to a survey by the financial daily, 84% of the 25 finance professionals expect EPF rates to be lower this year. Also, 64 per cent said that a cut in interest rates of small savings schemes looks imminent. Currently, the interest rate on PPF is fixed at 8.1 per cent in Company incorporation in gurgaon

The EPFO invests 95 per cent of the funds in government bonds and rest in exchange traded funds to maximise returns.

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Kareena Kapoor, Karisma Kapoor, Malaika Arora, Amrita Arora: Meet the desi Sex and the City girls

Looks like we have the perfect cast for a Bollywood version of Sex and the City.

In a picture shared on social media, friends Kareena Kapoor Khan, Karisma Kapoor, Malaika Arora Khan and Amrita Arora Ladak look every bit ready to play the role. It almost looks like a poster for the film.

Malaika Arora Khan used the hashtag 'sisterhood' to describe the bond the girls share.

The girls looked every bit their stylish best and their Instagram post made sure we got a good look of their shoes as well.

The girl gang is known to hang out together quite often and they make sure they share these fun times with their fans on social media.

While the stars are such good friends off screen, we have never had the chance to watch them together in a film. Hope someone makes one soon.

News By: Mehak Mehra 

This is why protective mom Shilpa Shetty doesn’t allow her son to watch TV.

Bollywood actress Shilpa Shetty doesn’t allow her son Viaan to watch television as it’s aggressive at times.

“I don’t allow my son to watch television as it gets aggressive to watch at times.”

“I am a very protective mother. I would encourage him to watch my upcoming show Super Dancer. This would be his first tryst with television,” Shilpa told reporters here today at the launch of the kids dance show.

The 41-year-old actress would be seen as a judge on Super Dancer.

“There are some wonderful kids who are four-five years old and they are great dancers. I wonder my son is not as good as them. I would not bring him on the show,” she said.

Shilpa who herself is a great dancer in real life loves actor Mithun Chakraborty’s style of dancing.

“My all time favourite dancer in Bollywood is Sridevi,” she added.

News By: Mehak mehra