N K GOEL AND BROS.

Clarification about applicability of sections 139(5) and 139(7) of the Companies Act, 2013 (New Act), which deal with appointment of auditors by Comptroller and Auditor General of India (C&AG) , to 'deemed Government Companies' referred to in section 619B of the Companies Act 1956 (Old Act) i.e. companies where ownership or control lies with two or more Government companies or corporations etc in the manner detailed in section 619B ibid.

-- N.K. Goel & Bros Chartered Accountants S-10, Shivaji Park, New Delhi 110026 www.TaxingNarad.com

-- M/s N.K. Goel & Bros. www.TaxingNarad.com Chartered Accountants CA Yashu Goel 9899263490

-- M/s N.K. Goel & Bros. www.TaxingNarad.com Chartered Accountants CA Yashu Goel 9899263490

-- M/s N.K. Goel & Bros. www,TaxingNarad.com Chartered Accountants CA Yashu Goel 9899263490

-- N.K. Goel & Bros Chartered Accountants S-10, Shivaji Park, New Delhi 110026

Amendment in Rule 3 -- M/s N.K. Goel & Bros. Chartered Accountants www.TaxingNarad.com CA Yashu Goel 9899263490

-- M/s N.K. Goel & Bros. Chartered Accountants www.TaxingNarad.com CA Yashu Goel 9899263490

-- M/s N.K. Goel & Bros. Chartered Accountants TaxingNarad.com CA Yashu Goel 9899263490

This page was sent to you by: Yashu Goel, Yashu.goel@icai.org -------------------------------- Documents for govt work can now be self-attested Citizens will no longer be required to get documents attested by a gazetted officer or file affidavits for government-related work. Log on to : http://www.timesofindia.com ** Disclaimer ** This is a public forum provided by TimesofIndia.com for its users to share their views with friends/public at large. TimesofIndia.com is not responsible for the content of this email. Anything written in this email does not necessarily reflect the views or opinions of TimesofIndia.com. Please note that neither the email address nor the name of the sender has been verified.

Dear Members,   The Hon'ble CBDT has issued Instruction No 5/2014 dated  10.07.2014 , by which the monetary limits for filing appeals to ITAT / HIGH COURT / SUPREME COURT have been revised.   The New limits are:                                  Tax effect Appeal before ITAT                                Rs.  4,00,000/- High Court                                               Rs. 10,00,000/- Supreme Court                                        Rs. 25,00,000/-   Copy of Instruction is attached for your information.

-- M/s N.K. Goel & Bros. Chartered Accountants CA Yashu Goel 9899263490

1. All taxpayers filing E-Returns will have to compulsorily update correct mobile number and E- Mail ID's. Otherwise there will be login issues before uploading of return on income tax Depts Website. 2. Now onwards Income Tax Refund will be issued directly in the bank account of the taxpayer through ECS only, cheques are discontinued. Therefore at most care should be taken while mentioning Bank Account Number and IFSC Code in the income tax returns. 3. From this year while claiming TDS in Income Tax return facility has been given to carry forward the TDS of previous year and brought forward TDS to next year. Due to this reconciliation of TDS claimed on Income and total available TDS as per Form 26 can be made. Tax payers which follow cash system of accounting will be benefited, like Doctors, Advocates, CAs and other professionals. 4. As per newly inserted Section 87A if annual income of the taxpayer is up to Rs. 5,00,000/- then Tax relief of maximum of Rs. 2,000/- is given. F...

CST Reconciliation Return (Form 9) has been made available online.

CBDT releases Form BB (Return of Net Wealth) for AY 2014-15 for assessee being individual or HUF who is liable to audit u/s 44AB are required to furnish Form BB (Return of Net Wealth) electronically under digital signature for assessment year 2014‐15 and onwards. [Refer Notification No:32/2014 dated 23/06/2014]. CBDT has on 03.07.2014  released Java Utility of ITR 7 for online filing of ITR-7 for Assessment Year 2014-15 to furnish return under section 139(4A) etc. Restriction of 4 mail id and mobile number has been withdrawn.. Now one mail ID and one mobile no. Is allowed for 10 tax payers instead of 4. Attn CAs. Limit of 60 for Tax Audit applicable to Assessment Year & not Financial Year. Applicable wef AY 2014-15. ICAI Revised Council Guidelines.