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NICAI Updates 19-Jan-2015

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  • NICAI Updates 19-Jan-2015

    Section 200A of the Income Tax Act, 1961 had brought a change in the process of refund of excess TDS deducted which he is liable to deduct.

    Indexed cost of acquisition is to be computed with reference to year in which previous owner first held gifted assets.

    RBI asks bank auditors to have a stringent monitoring process and banks to adopt a more stringent auditing process to ensure that review of financial results and identification of fraud is done more promptly.

    Banks are on strike from 21st to 24th January. 25th is Sunday and 26th January is a holiday. So take care.

    SEBI on January 15, 2015 issued SEBI (Prohibition of Insider Trading) Regulations, 2015 (Regulations, 2015) which is to come into force on 120th date of its publication in Official Gazette.

    DVAT department in partial modification of Circular No.18 of 2014-2015, modified special. OHAs for hearing the objections with respect to 2A-2B mismatch of 2012-2013.

    The new Companies Act 2013 by inserting a new Section 442 on the ADR Mechanism has open the gateway of professional opportunities for the members in the ADR (Arbitration) Mechanism.

    Customs duty cannot be levied on exempt goods merely for non mention of such goods separately in the invoice.

    NIRC of ICAI and Vedanta Foundation has signed a MOU for free education for CA students below the poverty line.
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