Empanelment for concurrent audit in central bank of India 2014

Central bank of India has invited applications from Chartered Accountant firm for empanelment for concurrent audit in central bank of India for year 2014. The firm should fulfill following conditions to apply for empanelment for concurrent audit in central bank of India: The firm may proprietary or partnership firm. The firm is empanelled with RBI Panel 2013-14. The firm or its partner have not been subject to any inquiry by ICAI or no inquiry is pending as on date of application or date of assignment. The firm should be qualified as auditor in terms of section 141 of companies...

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Empanelment of CA firm with C&AG for the financial year 2015-16

Empanelment of CA firm and LLP with C&AG for year 2015-16 C&AG has invited online application for year 2015-16 from chartered accountants firm and LLP to em panel their offices with controller and audit general of India. The online application will be available from 1/1/2015 to 15/2/2015 on www.saiindia.gov.in. The firm can update the data on website and generate online acknowledgement. The ca firms are also required to send hard copies of relevant documents with online acknowledgement generated with online application to register with C&AG....

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Revised return of income tax under section 139 (5)

If you make any mistake in filling income tax return u/s 139 (1), no worry. You can file revised return u/s 139 (5). Income tax department has tried to increase tax compliance by giving facility of return u/s 139 (5). Procedure to file revised return: Procedure for filling  return is same as filling original income tax return. You have to only enter 15 digits acknowledgement number of original return. You can file acknowledgement number from ITR V receipt. Also select section 139 (5) to file return. Correct the mistake and file the return. Time limit for filling return u/s...

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How to calculate interest on advance tax

Interest on advance tax late payment or non payment is calculated as per section 234B and 234C. Let’s see these provisions separately. Interest on advance tax non payment u/s 234B: Liability to pay interest u/s 234B is arisen when assessee does not pay advance tax or pay advance tax but in short amount. Situations for interest payable Amount on which tax is payable Rate of interest Period for interest calculation When assessee does not pay advance tax completely On assessed tax 1% p.m. or part of the month From 1st April of assessment year to the date of determination...

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