VERIFICATION OF ANSWER SHEETS

http://www.cacracker.com/verification-of-cs-answer-sheets/

SOURCE : CACRAKER.COM

FORMS FOR STUDENTS - ONLINE

http://www.icsi.edu/Student/FormsStudent.aspx

KINDLY CLICK ON THE LINK FOR ONLINE FORM FOR STUDENTS

GOOD MORNING -

HOW TO BOOK TRAIN TICKETS BY SMS

SOURCE :

http://www.simpletaxindia.net/2013/06/how-to-book-train-ticket-by-sms.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+SimpletaxIndia+%28SIMPLE+TAX+INDIA%29

From Intern To Employee

PLEASE CLICK ON THE LINK -

http://www.forbes.com/2009/04/27/intern-hiring-employee-leadership-careers-job.html

BSNL to Shut Down Telegram Service from July 15

One of the last remaining bastions of thetelegram, India, has announced it is ceasing telegram services on July 15, inthe wake of the rising popularity of smartphones, texting and email.

Telegrams – called “taar” in India —  began circulating in the 1850s. Thesigns of the taar’s demise were already clear; the system was privatized when Indian telecommunications company Bharat Sanchar Nigam Ltd. took over from the postal system in the 1990s, and two years ago raised the price from three or four rupees for 50 words) to 27 rupees for 50 words. In March 2013, BSNL announced the cessation of all international telegrams.

BSNL said it decided to cease telegram services after asking the Department of Posts to take thefailing service back.

Source : http://taxguru.in/finance/bsnl-shut-telegram-service-july-15.html

SEBI – Enhancement in Foreign Investment limits in Government debt

 

CIR/IMD/FIIC/8/2013    CIRCULAR        June 12, 2013

To

All Foreign Institutional Investors

through their designated Custodians of Securities

The Depositories (NSDL and CDSL)

Sir / Madam,

Sub: Enhancement in ForeignInvestment limits in Government debt

1. The Government of India has enhanced the Government Debt Limits by USD 5 billion (equivalent to approximately INR 29,137 cr converted at the RBI reference rate of 1 USD = INR 58.274 as on June 12, 2013).

2. It has been decided that the aforesaid enhanced limit of USD 5 billion shall be available forinvestments only to those FIIs which are registered with SEBI under the categories of Sovereign Wealth Funds (SWFs), Multilateral Agencies, Endowment Funds, Insurance Funds, Pension Funds and Foreign Central Banks.

3. To begin with, the amount of USD 5 billion together with the unutilized limit of INR 29,812 cr (equivalent to approximately USD 6.2 billion) as on May 31, 2013 (due for auction on June 20, 2013) will be made immediately available for investment on tap by these investors mentioned in Para 2 above.

4. The amount not utilized as on June 18, 2013 (out of the presently unutilized limit of INR 29,812 cr) will be put on auction on June 20, 2013. Similar exercise shall continue every month.5. With regard to those FIIs which have exhausted their reinvestment limits, as a one time measure, a special window of upto USD 250 million per FII shall be available till the date of the next auction i.e. June 20, 2013 subject to the aggregate investments in Government debt by all FIIs/QFIs being limited to USD 25 Billion (i.e. the limit other than the limit of USD 5 billion earmarked for investors mentioned in Para 2 above).

Such investments made by FIIs using the special window shall be subject to a lock-in of 90 days. Moreover, these investments will not be eligible for re-investment facility.

This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities

and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

Yours faithfully,

S MADHUSUDHANAN
Deputy General Manager
Tel No.: 022-26449614
Email: smadhu@sebi.gov.in

Conversion of a firm into a Limited Liability Partnership – Clarification

General Circular No 09/2013 – Dated 30.4.2013

Subject: Conversion of a firm into a Limited Liability Partnership –Clarification.

The Ministry has been examining some of the issues raised by stakeholders with regard to clarifications on theprovisions of the Limited LiabilityPartnership (LLP) Act, 2008 with regard to conversion of a partnership firm into LLP. The issues relate to clarification with regard to (i) conversion of multiplepartnership firms (including audit firms) into a single LLP and (ii) manner in which appointee company shall take note of the change in thestatus of auditor once the relevant CA audit has got itself converted into a CA audit LLP as per therelevant provisions of the LLP Act, 2008.

(2) The relevant issues have been examined in the Ministry in consultation with the ‘Expert committee on LLP Issues’ set up in the Ministry and following clarifications are conveyed for theguidance of concerned stakeholders:-

(i)  The provisions of sections 55 and 58 of the LLP Act, 2008 read with Second Schedulethereto, inter-alia, provide for requirements in respect of conversion of a single partnership firm into a single LLP. The LLP Act, 2008 does not provide for conversion of two or more firms into a single LLP.

(ii) The provisions of section 58(4) (b) of the LLP Act, 2008 provide that on conversion of a firm into an LLP, as per the provisions of the said Act all property, assets, interests, rights, privileges, liabilities, obligations relating to the firm and the whole of the undertaking of thefirm shall be transferred to and shall vest in the LLP without further assurance, act or deed. Accordingly, if a CA audit firm, being an auditor in a company under the Companies Act, 1956,gets converted into an LLP after complying with the relevant provisions of the LLP Act, 2008, then, such an LLP, in accordance with the provisions of section 58(4) (b) of the LLP Act, 2008 would be deemed to be the auditor of the said company. Reference is also drawn to thenotification number SO 1152(E) dated 23^rd May, 2011 and General Circular 30A dated 26^thMay, 2011 of the Ministry in this regard. The relevant appointee company may take note of such change in status of the auditor through a resolution of the Board.

3. The concerned stakeholders, Registrar of Companies, appointee companies should take note ofthe above clarifications and comply accordingly.

 Yours Faithfully,

( J N Tikku)
Joint Director

On Conversion of Company into LLP, Auditor of the company deemed to be auditor of LLP

Ministry of Corporate Affairs’ latestCircular which provides important clarifications on the provisions of theLimited Liability Partnership (LLP) Act, 2008 with regard to conversion of apartnership firm into LLP.

It has been clarified that the LLP Act, 2008 does not provide for conversion of two or more firms into a single LLP.

Clarifying further, the MCA has said thatthe provisions of section 58(4) (b) of theLLP Act, 2008 provide that on conversion of a firm into an LLP, as perthe provisions of the said Act, all property, assets, interests, rights, privileges, liabilities, obligations relating to the firm and the whole of the undertaking of the firm shall be transferred to and shall vest in the LLP without further assurance, act or deed. Accordingly, if a CA audit firm, being an auditor in a company under theCompanies Act, 1956, gets converted into an LLP after complying with the relevant provisions of theLLP Act, 2008, then, such an LLP, in accordance with the provisions of section 58(4) (b) of the LLP Act, 2008 would be deemed to be the auditor of the said company. The relevant appointee company may take note of such change in status of the auditor through a resolution of the Board. I call uponthe CA firms and members concerned to take note of the above clarifications and comply accordingly.

Source-

 ICAI President’s Message – June 2013

MARRIAGE WISHES TO ASHWINI

ASHWINI MARRIAGE ON 11.05.2013

SHAADI DO DILOH KA EK BANDHAN HAI

YEH NA TOOTNE WALA EK KHUBSOORAT BANDHAN HAI

JO CHAAHO KHUSHIYAAN JAHAAN BHAR KI

MILE WOH SAB TUMHE TUMHAARE AANE WAALE KAL ME

YUHI KHUSHIYON KI SAUGAT MILE TUMHAARE AANEWALE HAR PAL MEH

KEHNE KO HAI BAHUT PAR ALFAAZ NAHIN MILTE

AAPKO MILE KHUSHIYAAN IS DIN KE HAR PAL MEH

YAHI HAI BAS DUA NIKALTI ABTO HAMAARE MAN SE

WOH PAL HOGA BAHUT HASEEN 

JAB BANDHOGE TUM EK BANDHAN MEH

SAATH YEH SAAT FEROH KA NAHIN

SAATH HAI SADAA KA YEH JEEVAN MEH

YUHI SAATH RAHO EK DUJE KE YUHI 

HAR PAL HAR MOD MEH

REHNA SADAA REHKE EK DOOJE KE

CHAAHE KOI MOD AAYE ZINDAGI MEH

I AM SORRY I CANNOT ATTEND YOUR MARRIAGE - 

Sha-Azam Siddiqui

Management Trainee,

HS Associates

Company Secretaries

H-3, 9th Floor,

"Everest"

Tardeo, Mumbai - 34

Tel: 23513689 

Extn. 20/21/27

Mobile - 9619075790

Email: trainee4@hsassociates.net

Web: www.hsassociates.net

DISCLAIMER: 

Information contained and transmitted by this E-MAIL including any attachment is proprietary to HS Associates and is intended solely for the addressee/s, and may contain information that is privileged, confidential or exempt from disclosure under applicable law. Access to this e-mail and/or to the attachment by anyone else is unauthorized. If this is a forwarded message, the content and the views expressed in this E-MAIL may not reflect those of the HS Associates. If you are not the intended recipient, an agent of the intended recipient or a person responsible for delivering the information to the named recipient, you are notified that any use, distribution, transmission, printing, copying or dissemination of this information in any way or in any manner is strictly prohibited.  If you are not the intended recipient of this mail kindly delete from your system and inform the sender.

There is no guarantee that the integrity of this communication has been maintained and nor is this communication free of viruses, interceptions or interference. 

------------------------------------------------------------------------

PLEASE DO NOT PRINT THIS EMAIL IF IT REALLY NEEDFUL....THINK ENVIRONMENT
------------------------------------------------------------------------

AGM CAN BE HELD ON SUNDAY

KINDLY CLICK ON THE LINK -

http://www.caclubindia.com/articles/agm-can-be-held-on-sunday-17244.asp#.UV_m6KL7AxA

SOURCE : CACLUBINDIA WEBSITE

EXTENSION OF LAST DATE IN FILING OF VARIOUS MCA FORMS

EXTENSION OF LAST DATE IN FILING OF VARIOUS MCA FORMS

I am directed to inform you that the Ministry of Corporate Affairs has decided to extend the last date of filing and to relax the additional fees applicable on forms as per the provisions of Companies Act read with rules made thereunder, which have been ought to be filed post transition of MCA 21 w.e.f. 17.01.2013, but could not be filed due to technical issues in MCA-21 system.

2. It is hereby clarified that the following relaxation shall be considered by the Regional Director/Registrar of Companies on case to case basis while allowing for relaxation of fees or extension of last date with regard to forms to be filed by the stakeholders wherein :

(i) Last date of filing for Forms where the due date is falling on or after 17th January, 2013 is without charging additional fee.

(ii) All the documents which have been expired on or after 17th January due to non-submission/re-submission PUCL may be restored back.

(iii) All the cases related to filing of court orders/competent authority where the due date/date of filing was falling on or after 17th January is extended without payment of additional fees.

(iv) Name availability expired due to non-submission of incorporation documents will be made available for filing of the same.

(v) In case of charge documents the due date will be extended by Regional Director on case to case basis where the due date of filing was falling on or after 17/01/2013 and could not be filed.

(vi) The due date in above cases is hereby extended till 28/02/2013.

3. The Regional Director/Registrar of Companies will examine the request on case to case basis upon receipt of request from the stakeholders for allowing the relaxation without levying the additional fee.

4. The process of extending date will be as under:-

a. Company/ professional will make request by e-mail/post with RD/ROC alongwith the supporting documents if, any;

b. RD/ROC will raise ticket on service desk immediately after examining the application;

c. The team of operator will resolve the ticket as per the request of RD/ROC. A system generated mail will be sent to RD/ROC and user will be informed accordingly;

d. User should file the documents within the time given in the email.

5. The Regional Director/Registrar of Companies is authorized to allow such extension of time for filing form/alongwith necessary document. The RD/ROC will raise ticket in the service desk for allowing such extension of time for filing forms.

6. The stakeholders who are able to file the documents on or after 17/01/2013 till the date of this circular are not eligible for any fees relaxation or extension of last dates. Further they are not entitled for any refund.

Read more: http://www.simpletaxindia.net/2013/02/extension-of-last-date-in-filing-of.html#ixzz2Kl71sv53

Decks cleared for FY15 GST rollout

Decks cleared for FY15 GST rollout

VRISHTI BENIWAL & DILLIP SATAPATHY Bhubaneswar, 28 January Today, the Centre and states agreed on a compensation formula for Central Sales Tax ( CST), a major hurdle in implementing the Goods & Services Tax ( GST). However, it is unlikely the new indirect tax regime would be introduced in 2013- 14. The sub- panel on GST design gave its report, but no conclusion could be reached today; the recommendations would be discussed tomorrow. Earlier in the day, a sub- panel of central and state government officials recommended, for a cut in CST from four per cent to two per cent, states be given 100 per cent compensation for 2010- 11, 75 per cent for 2011- 12 and 50 per cent for 2012- 13. The Centre would have to pay ₹ 34,000 crore as CST arrears. “The empowered committee of state finance ministers has given its approval to the report,” Sushil Modi, Bihar finance minister and chairman of the empowered committee, said after the meeting. He, however, remained doubtful over the GST rollout next financial year. “ GST implementation from the coming financial year seems difficult. It is unlikely to happen, as the government is yet to fulfil certain statutory prerequisites for that.” He added some states were earlier concerned the Centre wasn’t giving full compensation for losses on account of a cut in CST. However, after the Centre expressed its inability to provide full compensation, citing fiscal constraints, the states finally agreed, albeit with some conditions. They demanded the compensation be paid immediately and the Centre provide a timeframe for it. They also threatened to return to the four per cent CST regime if 100 per cent compensation wasn’t provided for 2013- 14. “Unless the compensation is 100 per cent, it would be difficult for us to support GST,” said a state FM. The Centre had said if GST wasn’t introduced next year, it would compensate CST losses for that period as well, Modi said. Andhra, Gujarat, Tamil Nadu, Odisha, West Bengal and Haryana would benefit the most from CST compensation. A provision for compensation to be paid in line with the August 2008 formula is likely to be made in Budget 2013- 14. Finance Minister P Chidambaram had recently said if states arrived at a consensus, he would give an outline for GST in the Budget. States demanded whenever GST was implemented, compensation should be provided for five years. “ States fear in the first few years, they would make heavy losses. Though the Centre has assured compensation, states want a mechanism so that they don’t have to go to the Union government with a begging bowl,” Modi said. Centre, states clear first hurdle, agree on compensation formula for losses on account of reduction in Central Sales Tax rate “GST implementation from the coming financial year seems difficult, as the government is yet to fulfil certain statutory prerequisites” SUSHIL MODI Chairman, Empowered Committee of State FMs on GST THE WAY FORWARD |The Constitution Amendment Bill is currently being vetted by a standing committee of Parliament |Its passage requires a two- third majority of sitting and voting MPs in both houses of Parliament. Then, at least half the states must ratify it |An enabler for GST, the Bill will empower states to impose service tax, Centre to levy tax beyond manufacturing |GST Bill will have to be prepared by the Centre and passed by Parliament |Similarly, states would have to prepare their own GST Bills on the lines of the model Bill and get those passed by their respective Assemblies |On introduction, GST would replace Central excise duty, service tax and value- added tax besides several local taxes Source :

ICSI – Clarification on Notification implementing the new training structure

Clarification on Notification number 710/ 1(M)/1 dated 29^th December,2012 notifying the draft Company Secretaries (Amendment)
Regulations, 2012 implementing thenew training structure

Dear Student,

This has reference to the Institute’sNotification number 710/1(M)/1 dated 29^th December, 2012 pertaining to the draft Company Secretaries (Amendment) Regulations, 2012 proposing amendments in the Company Secretaries Regulations, 1982 by the Institute (ICSI) to give effect to new training structure thereby increasing training period from 15 months to 24 months, providing for alternate training for 36 months on enrolment for Executive Programme in addition to other amendments pertaining to exemption from training requirements and Management Skill Orientation Programme (MSOP).

The said Notification number 710/1(M)/1 dated 29^th December, 2012 notifying the draft regulations for implementing the new training structure was published in the Gazette of India, Extraordinary,Part III, Section 4 for information of all person likely to be affected and for their objections / suggestions on the same within 45 days from the date the same was made available to the public. The said notification was made available to the public on ^8th January, 2013. Accordingly, the last date for making objections / suggestions on the draft regulations is 21^st February, 2013. The saidnotification has also been published in January, 2013 issue of the Chartered Secretary Journal of the Institute and hosted on the website of the Institute.

We wish to clarify for the information of all students of the Institute that the said draft regulations i.e. the Company Secretaries (Amendment) Regulations, 2012 shall come into force on the date of their final publication in the Official Gazette as stated in sub clause (2) of clause 1 of the notification and the same are reproduced herein below for immediate reference:

“1.     (1)

(2) They shall come into force on the date of their final publication in the Official Gazette.”

The final notification notifying the said draft Company Secretaries (Amendment) Regulations, 2012 shall be published in the Official Gazette after considering the objections / suggestions, if any received from the public on the draft regulations with the approval of the Council and the Central Government.

In view of the foregoing, it is hereby clarified that the new training structure proposed in the aforesaid draft regulations shall apply to those students only who shall register themselves for the Executive Programme on or after the date of publication of final notification of the draft regulations in the Gazette of India.

In case any further information / clarification is required, please write on email IDs. meenakshi.gupta@icsi.edu and sanjay.nagar@icsi.edu.

Sutanu Sinha

Chief Executive

The Institute of Company Secretaries of India