Clarification on matters relating to Consolidated Financial Statement Posted In Company Law | Notifications | 1 Comment » <!-- google_ad_client = "ca-pub-4758308089404121"; /* 336x280, Tax Guru created 1/1/09 */ google_ad_slot = "2487820938"; google_ad_width = 336; google_ad_height = 280; google_ad_region="test"; //-->General Circular No. 39/2014 No. 4/2/2014-CL-I Dated: 14th October, 2014 Subject: Clarification on matters relating to Consolidated Financial Statement. Government has received representations from stakeholders seeking clarifications on the manner of presentation of notes in Consolidated Financial Statement (CFS) to be prepared under Schedule III to the Companies Act, 2013(Act). These representations have been examined in consultation with the Institute of Chartered Accountants of India (ICA') and it is clarified that Schedule III to the Act read with the applicable Accounting Standards does not envisage that a company while preparing its CFS merely repeats the disclosures made by it under stand-alone accounts being consolidated. In the CFS, the company would need to give all disclosures relevant for CFS only. This issues with the approval of the competent authority. Yours faithfully, (KMS Narayanan) Assistant Director (Policy) Copy to:- /1. e-Governance Section and web contents Officer to place this circular on the Ministry web site - See more at: Clarification on matters relating to Consolidated Financial Statement
Home I.Tax BUDGET Submit Articles ITR S. Tax Excise C. Law Judiciary Deductions GST Partnership CA CS CMA Empanelment Downloads Oct 14 2014 Clarification on matters relating to Consolidated Financial Statement Posted In Company Law | Notifications | 1 Comment » <!-- google_ad_client = "ca-pub-4758308089404121"; /* 336x280, Tax Guru created 1/1/09 */ google_ad_slot = "2487820938"; google_ad_width = 336; google_ad_height = 280; google_ad_region="test"; //-->General Circular No. 39/2014 No. 4/2/2014-CL-I Dated: 14th October, 2014 Subject: Clarification on matters relating to Consolidated Financial Statement. Government has received representations from stakeholders seeking clarifications on the manner of presentation of notes in Consolidated Financial Statement (CFS) to be prepared under Schedule III to the Companies Act, 2013(Act). These representations have been examined in consultation with the Institute of Chartered Accountants of India (ICA') and it is clarified that Schedule III to the Act read with the applicable Accounting Standards does not envisage that a company while preparing its CFS merely repeats the disclosures made by it under stand-alone accounts being consolidated. In the CFS, the company would need to give all disclosures relevant for CFS only. This issues with the approval of the competent authority. Yours faithfully, (KMS Narayanan) Assistant Director (Policy) Copy to:- /1. e-Governance Section and web contents Officer to place this circular on the Ministry web site - See more at: Clarification on matters relating to Consolidated Financial Statement
Expedite Annual ROC Filing so as to avoid last minute rush – ICSI Posted In CA CS ICWA | News | No Comments » <!-- google_ad_client = "ca-pub-4758308089404121"; /* 336x280, Tax Guru created 1/1/09 */ google_ad_slot = "2487820938"; google_ad_width = 336; google_ad_height = 280; google_ad_region="test"; //-->Dear Professional Colleagues, Festive greetings to all of you! I hope that all of you are quite busy with annual and other filings. Incidentally, this is the peak period of annual filing under MCA 21. It has been reported by the Ministry of Corporate Affairs that so far filing made by Companies are proportionately lesser in number than the total number due for annual and other filings. Therefore, I sincerely request you to expedite e-filing without waiting for the last dates. You will also appreciate that as a good risk mitigation plan, filing should be done as soon as possible. Filing returns ahead of cut off dates will avoid congestion in the system at the flag end and also take care of technical snag, if any, at any point of time in the system. Further, I am sure that you will also take necessary care, while filing the returns from the perspective of self-regulation and related compliances. I request your support and cooperation in this regard. Regards, CS R. Sridharan President Source- ICSI - See more at: Expedite Annual ROC Filing so as to avoid last minute rush - ICSI
Home I.Tax BUDGET Submit Articles ITR S. Tax Excise C. Law Judiciary Deductions GST Partnership CA CS CMA Empanelment Downloads Oct 15 2014 Steps to process expeditiously the refund claims of the taxpayers residing in the state of Jammu & Kashmir Posted In Income Tax | Notifications | No Comments » <!-- google_ad_client = "ca-pub-4758308089404121"; /* 336x280, Tax Guru created 1/1/09 */ google_ad_slot = "2487820938"; google_ad_width = 336; google_ad_height = 280; google_ad_region="test"; //-->Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE 15th October, 2014 In view of the large devastation caused by the recent floods in Jammu & Kashmir, the Income tax Department is taking necessary steps to process expeditiously the refund claims of the taxpayers residing in the state of Jammu & Kashmir who have submitted their returns through electronic mode. Instances have come to notice where the refund cheques could not be delivered at the address indicated by the taxpayers in their returns due to dislocation caused by floods. Non-Corporate taxpayers of Jammu and Kashmir who desire to provide a new address for delivery of their refund cheques, may log in to the e-filing site https://incometaxindiaefiling.gov.in, and update their address through the path Profile Setting -> My Profile-> Address. Alternatively, the taxpayers can contact the helpdesk at Centralised Processing Centre (CPC), Bangalore at 1800 425 2229 and provide the updated address. (Rekha Shukla) Commissioner of Income Tax (M &T P) Official Spokesperson, CBDT - See more at: Steps to process expeditiously the refund claims of the taxpayers residing in the state of Jammu & Kashmir
Govt. notifies revised 'Kisan Vikas Patra Rules'
MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 23rd September, 2014
GSA- 705(E).—ln exercise of the powers conferred by section 12 of the Government Saving Certificates Act, 1959 (46 of 1959) and in suppression of the Kisan Vikas Patra Rules, 1988 except as respects things done or omitted to be done before such supersession, the Central Government hereby makes the following rules, namely:—
1. Short title and commencement.—(1) These rules may be called the Kisan Vikas Patra Rules, 2014
(2)They shall come into force on the day of their publication in the Official Gazette. 2.
2. Definitions.—In these rules, unless the context otherwise requires, –
(a) "Act" means the Government Savings Certificates Act, 1959 (46 of 1959);
(b) "cash" means the cash in Indian currency;
(c) "Certificate" means the Kisan Vikas Patra;
(d) "Form" means a Form annexed to these rules;
(e) "Post Office" means any departmental post office in India doing Savings Bank work;
(f) "Bank" means any branch of State Bank of India and its associate banks, designated branches of Nationalised and other commercial banks, authorized for Public Provident Fund Scheme;
(g) words and expressions used herein and not defined but defined in Post Office Savings Certificate Rules, 1960 shall have the meanings respectively assigned to them in those rules.
3. Application of Post Office Savings Certificate Rules, 1960.—The provisions of the Post Office Savings Certificate Rules, 1960 shall, so far as may be, apply in relation to matters for which no provision has been made in these rules.
4. Denomination of Certificates.—The Kisan Vikas Patra shall be issued in denominations of 1,000/-, Rs. 5,000/-, Rs.10,000/- and Rs. 50,000/-.
5. Purchase of Certificate.—Any number of Certificates of the denominations specified in rule 4 may be purchased.
6. Type of Certificates and issue -(1) The Certificates shall be of the following types, namely :—
(a) Single holder type Certificates;
(b) Joint 'A' type Certificates; and
(c) Joint B' type Certificates.
(2) (a) A single holder type Certificate may be issued to – (a) an adult for himself or on behalf of a minor or to a minor;
(b) A Joint 'A' type Certificate may be issued jointly to two adults payable to both holders jointly or to the survivor.
(c) A Joint `B' type Certificates may be issued jointly to two adults payable to either of the holders or to the survivor.
- Procedure for purchase of Certificate.—(i ) Any person or persons specified in rule 6, desiring to purchase a Certificate, shall present an application in a Form A either in person or through an authorised agent of the small savings schemes at a Post Office or Bank.
(2) Payment for the purchase of a Certificate may be made to a Post Office or Bank in any of the following modes, namely:—
(i) by cash; or
(ii) by locally executed cheque, pay order or demand draft drawn in favour of the Post Master; or
(iii) by presenting a duly signed withdrawal form or cheque together with the passbook for withdrawal from Savings Account standing in credit of the purchaser at the same Post Office or Bank.
8. Issue of Certificates.—(1) On payment being made under rule 7, except where payment is made by a cheque, pay order or demand draft, a Certificate shall be issued immediately and the date of such Certificate shall be the date of payment.
(2) Where payment for the purchase of a Certificate is made by cheque, pay order or demand draft, the Certificate shall not be issued before the proceeds of the cheque, pay order or demand draft, as the case may be, are realised and the date of such Certificate shall be date of encashment of the cheque, pay order or demand draft, as the case may be.
(3) If for any reason a Certificate cannot be issued immediately, a provisional receipt shall be given to the purchaser which may later be exchanged for a Certificate and in such a case the date of Certificate shall be the date of provisional receipt.
9. Transfer from Post Office to Bank and vice-versa.–(1) A Certificate may be transferred from a Post Office or Bank at which it stands registered, to any other Post Office or Bank to the holder or holders making an application in Form B either at Post Office or Bank.
(2) Every such application shall be signed by the holder or holders of the Certificate :
Provided that in the case of Joint 'A' type Certificate or Joint 'B' type Certificate, the application may be signed by one of the joint holders if the other is dead.
10. Transfer of Certificate from one person to another.—(1) A Certificate may be transferred from one person to another with the consent in writing to an officer of the Post Office or Bank as specified in the Table below (hereinafter referred to in these rules as authorised Post Master or Bank Officer) :—
Download Full text of the Notification
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