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The Central Government has notified 10 ICDSs

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  • The Central Government has notified 10 ICDSs

    The Central Government has notified 10 Income Computation Disclosure Standards (‘ICDSs’) effective from F.Y. 2015-2016 for all taxpayers following mercantile method of accounting.

    The government has notified the rules for calculating overseas income and assets under the stringent foreign black money law that came into force on July 1.

    Modified versions of Forms DPT-3, 4LLP, CRA-2, MSC-3 and FC-1 are to be available from 7th July 2015.

    Best judgment assessment, can only be used to determine the quantum of services rendered. There cannot be best judgment assessment regarding the specific service provided. [Shubham Electricals v/s CST & ST, Rohtak, CESTAT of New Delhi].

    RBI has clarified that Foreign Direct Investment in tobacco products is prohibited in manufacturing of cigars, cheroots, cigarillos and cigarettes etc.
    NIRC of ICAI is organizing its sub-regional conference of Punjab state hosted by Amritsar branch jointly with Jalandhar branch on 11th July, 2015 from 10AM - 05PM at Hotel Raddison Blu, Opposite Amritsar Airport, Amritsar.

    NIRC of ICAI is organizing its Sub-Regional Conference of J & K State on 13th July, 2015 from 10.30 AM - 05.30 PM at Hotel K. C. Residency, Residency Road, Jammu.

    Register for ICAI International Conference on Accountancy Profession: Spearheading Excellence', August 7-9, 2015 at Indore.
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