CA MEDHA KENDRA E.Y.E | August 2016...Other s have set up free phon e charging stations for players as the game is a battery hog. Bloomberg reports of Zagg Inc. (ZAGG), a company that

CA MEDHA KENDRA E.Y.E | August 2016

_____________________________________________________________________________

This 15th August marks 70 years of Independent India, what a proud feeling it is.

While wishing you a Happy Independence day, let us remembering the strife of our

forefathers, make sure that we all take the oath of allegiance to the Republic of India

and abide by its sanctity in the days to come...

National Pledge

India is my country.

All Indians are my brothers and sisters.

I love my country, and I am proud of its rich and varied heritage.

I shall always strive to be worthy of it.

I shall give respect to my parents, teachers and all elders and treat

everyone with courtesy.

To my country and all my people, I pledge my devotion.

In their well-being and prosperity alone lies my happiness.

Jai Hind!

Our Team

Editorial Board

VCAN –Team

Vedharaman Sri

Chandresekara Venkatraman

Aravind K

Nivedha Srinivasan

Neeraj Surana

Esteemed Proof readers

Akshay Kankaria

Parvathi Anantha

Rihan Abdulrahman

In this issue… Page No.

1. Editor’s desk 1

2. The Story - Pokémon Go 2

3. Legal Updates 5

4. Equalisation Levy 9

5. Career-wise: Forensic Audit 11

6. Faces in the news 14

7. The Practice Manual of Life 15

8. Statutory Compliance Calendar 17

From the Editor's Desk

Dear friends,

Subsequent to achieving 2500+ circulation in our first issue and with the backing of some more volunteers who are likewise enthusiastic about ‘’Expanding their Edges’’, we are reaching to you with our second issue of ‘EYE’.

Hearty congratulations to all those who aced their Final exams successfully and have become a “Chartered Accountant”. As well as to those who cleared the entrance and stepped into this prestigious course, good luck to you. And for those who couldn't accomplish their dream “this time”, don’t lose faith in yourself. You know what you are capable of and what you wish to see yourself as. March forward, swim forth!

I wish to share an inspiring story that I heard from Mr. T. T. Rangarajan (Founder of Alma Mater that advocates ‘Infinitheism’) about the challenges we face in our life.

“When a man is reading the ancient scriptures he finds a sentence ‘silversmith throws a piece of silver into the furnace’. He does not understand the meaning behind the quote and decides to go to the silversmith’s place to watch the processes going on there. He asked the silversmith ‘why do you throw the silver piece into the furnace’, the silversmith replied, ‘to make the silver useable and convert them by making ornaments’. Another question popped into his mind, “how will you decide whether the silver is ready to be used for ornaments”. Silversmith said, ‘when the boiling silver reflects my face, I will take it out of the furnace’.

The man finally captured the crux of the saying from the silversmiths reply. We humans are pieces of silver, the silversmith is God and the furnace is our life. We undergo lots of challenges and failures in our life similar to the silver that got melted in the furnace. As silversmith takes out the silver out of the furnace, in the same way God brings us out of our struggles that we undergo and give bliss in our life provided we never give up on the task at which we had faced failure previously. It’s all about our self confidence that we can take up the failures as challenges and succeed”

If you don’t conquer your fear, it will gain control over you and make you emotionally weak. Face what you must face. Face your fears, challenge yourself and never ever procrastinate it. Admit your failures, take lessons from it. Start practicing! Dream big, Start small, Act now! “Sweat more in practice, bleed less in war” – Spartan Warrior Credo.

I would also like to quote Robin Sharma here who said “Your unused potential turns

into pain, so use your full potential and put your full efforts. Success is yours.”

- VCAN Team

CA MEDHA KENDRA E.Y.E | August 2016 |Page 2

Pokémon Go Cashing in on the trend

By Nivedha Srinivasan

What is Pokémon Go?

Pokémon Go is a free-to-play location-based, augmented reality game for iOS and

Android devices. Released in most regions of the world in July 2016, the players use

the smart device's GPS and camera to capture, battle, and train virtual creatures,

called Pokémon, who appear on the screen as if they were in the same real-world

location as the player.

It rapidly got to be a standout amongst the most utilized mobile apps soon after

release, and was downloaded by more than 75 million individuals around the world.

Pokémon Go is more than just a gaming

craze — it's an economic one, too. People

are making and spending plenty of cash

in a new ecosystem of Pokémon-related

goods and services that has emerged less

than a month after the app's launch.


Who earns what?

While Pokémon Go is not developed by Nintendo, the company owns a

minority stake in the Pokémon Company and has invested in Niantic.

Nintendo makes 10% from the game, as well as an additional 10% from the

company’s investment of $30 million for the project. Since the game is free,

greater player engagement will result in more advertising and franchise

revenue for Nintendo.

Alphabet Inc. (GOOGL) profits from Pokémon Go in two distinct ways. The

game was created by Niantic, which was an in-house start up at Google.

Niantic earns 30% of the game’s revenue. Google also gets 30% of revenue

from in-app purchases on Androids. While the game is free, players are

making many in-game purchases to advance their playing experience.

Apple Inc. (AAPL) also earns 30% from in-app purchases from iPhone, iPod,

and iPad users.

Another 30% of profits go to the Pokémon Company itself, which holds all the

licensing rights of the Pokémon brand.

Investors were buoyed by the response to the initial release of Pokémon Go on July 7,

with Nintendo's share

price rising by an initial

10% and by July 14 shares

rose to as high as 50%. By

July 22, Nintendo gained

¥1.8 trillion (US$17.6

billion) in market

capitalization since the

game's launch. However,

following clarification

from Nintendo that the company did not produce Pokémon Go nor have tangible

financial gains from it, its stock fell by 18%—equating to a ¥708 billion (US$6.7


billion) loss in market value on July 25. This was the largest single-day decline for

Nintendo since 1990 and the maximum one-day exchange of finances allowed on the

Tokyo Stock Exchange.

Businesses embracing the trend

The fad is generating foot traffic and revenue for small businesses who are embracing

the new trend and coming up with innovative offers and discounts to monetarize the

craze.

One feature of the game is the Lure Module,

a device that anyone can buy through the

Pokémon app to attract Pokémon for 30

minutes. Lures which are a cheap investment

cost only a dollar and can be stacked on top

of each other are used by businesses to pull

in the Pokémon hunters boosting their

overall sales revenues.

Bars and other small businesses across the

UK are advertising their conveniently located Pokéstops. Plenty of other businesses

have been lucky enough to be near an important location within the game, boosting

their foot traffic.

Others have set up free phone charging stations for players as the game is a battery

hog. Bloomberg reports of Zagg Inc. (ZAGG), a company that produces battery cases

which keep your phone charged, have risen 12.5% in the past two trading sessions

since players don't want their phones to die while they are out playing.

Since the app uses the player’s actual location and draws them to certain areas, many

businesses have created marketing campaigns due to the increased foot traffic

around retail locations. Blending offline and online marketing campaigns centered

around the game, has proven to be an effective hook for many small businesses.

And that's just the start. Niantic, the creator of the app, has already said it plans to

allow companies to sponsor locations within the game which will make the Pokémon

Go’s reach being beyond the screen.

Gotta catch ‘em all, in style!!!


Central Board of Direct Taxes

Compiled by Vedharaman Sri

1) ICDS Applicability postponed.

ICDS shall be applicable only from previous

year 2016-17 (Assessment Year 2017-18).

Source:http://pib.nic.in/newsite/erelease.as

px?relid=146874

2) Circular No. 28/2016:

Persons born on 1st April would be

considered as attained the particular age ( 60

or 80) on 31st March for the purpose of

determining category individual as senior

citizen or super senior citizen for computing

tax liability of individuals.

In case of individual born on 1st, April 1936 /

1956 are eligible to claim themselves as

super senior citizen / senior citizen in A.Y

2016-17.

http://incometaxindia.gov.in/communicatio

ns/circular/cirularno282016.pdf

3) Income Declaration scheme:

a) Notification. No: 59/2016

New Due dates for tax, surcharge and

penalty payable in respect of undisclosed

income under Income Declaration Scheme:

-Not less than 25% - 30-Nov-2016

-Not less than 50% - 31-Mar-2017

-Whole amount – 30-Sep-2017

b) Notification No: 60/2016

Income Declaration scheme forms now can

be revised.

4) Following districts of the states are

notified as Backward areas for the section

32(1)(iia) and 32AD

Telengana:

Adilabad, Nizamabad, Karimnagar, Warangal, Medak, Mahbubnagar, Rangareddy, Nalgoda, Khammam.

West Bengal:

South 24 parganas, Bankura, Birbhum, Dhakshin dinajpur, Uttar dhinajpur, Jalpaiguri, Malda, East medinipur, West medinipur, Murshidabad, Purulia.

Bihar:

Arwal, Banka, Begusarai, Bhagalpur, Buxar, Gopalganj, Khagaria, Kishanganj, Madhepura, Munger, West champaran, East champaran, Saharsa, Saran, Sheikhpura, Sitamarhi, Siwan.

5) CBDT notified DTAA between India and

Saint Kitts and Nevis.

http://incometaxindia.gov.in/communicatio

ns/notification/notification62_2016.pdf


Central Board of Excise and Customs

Compiled by Chandrasekara Venkatraman

1) Invoice authentication:

Manufacturer or service provider who opts to issue invoices authenticated by digital signature may print a copy of such invoice and sign them manually and can send the customers who are unable to receive the digitally signed invoice.

Invoices authenticated by two signatures, digitally and as well as manually would be considered to be in conformity with Central Excise Rules, Service Tax rules.Such invoices would also be a valid document to avail CENVAT Credit.

Circular: http://cbec.gov.in/…/…/cx-circulars-2016/circ1038-2016cx.pdf

2) General procedures regarding excise duty

on articles of jewellery or parts of articles of

jewellery or both falling under heading 7113

http://cbec.gov.in/resources//htdocs-

cbec/excise/cx-circulars/cx-circulars-

2016/circ1043-2016cx-signed.pdf

3) Guidelines for issue of summons, visits,

search, seizure, arrest and prosecution

regarding manufacturers or principal

manufacturers of articles of jewellery or parts

of articles of jewellery or both

cbec.gov.in/resources//htdocs-cbec/excise/cx-

circulars/cx-circulars-2016/circ1044-2016cx-

signed.pdf

4) Recovery Proceedings:

Recovery proceeding in relation to an order of Hon’ble High Court or Tribunal confirming demand of duty, may be initiated only after,a period of sixty days from the date of order of the Hon’ble Tribunal or Hon’ble High Court, as the case may be, where no stay has been granted by Hon’ble High Court or Hon’ble Supreme Court against the order of Hon’ble Tribunal or Hon’ble High Court, respectively.

Circular: http://www.cbec.gov.in/…/cx-

circulars-2…/circ1035-2016cx.pdf


Ministry of Corporate Affairs


MCA Notifed following rules during the month of July 2016

1) National Company Law Appellate Tribunal Rules, 2016

http://www.mca.gov.in/Ministry/pdf/Rules_22072016.pdf

2) National Company Law Tribunal Rules, 2016

http://www.mca.gov.in/Ministry/pdf/Rules_22072016_1.pdf

3) Companies (Share Capital and Debentures)

Third Amendment Rules, 2016


4) Companies (Acceptance of Deposits)

Amendment Rules, 2016


5) Companies (Incorporation) Third Amendment Rules, 2016

http://www.mca.gov.in/Ministry/pdf/CompaniesThridAmendementRules_28072016.pdf

6) Companies (Appointment and

Remuneration of Managerial Personnel)


http://www.mca.gov.in/Ministry/pdf/AmendmentRules_01072016.pdf

7) Companies (Accounts) Amendment Rules,

2016

http://www.mca.gov.in/Ministry/pdf/Compa

niesAccountsAmendmentRules_28072016.pdf

8) Companies (cost records and audit)



(For brief analysis Companies (cost records

and audit) Amendment Rules, 2016:

https://www.facebook.com/notes/ca-medha-

kendra/a-brief-analysis-on-companies-cost-

records-and-audit-amendment-rules-

2016/265795020458975)

MERGER PROPOSALS TO BE WATCHED: VEDANTA Ltd. – CAIRN Ltd.

Vedanta Ltd., incorporated in the year 1965, is a Large Cap company (having a market

cap of Rs 50147.8 Cr.) operating in Mining sector

Cairn India Ltd., incorporated in the year 2006, is a Large Cap company (having a

market cap of Rs 36475.45 Cr.) operating in Petroleum sector.


ICAI UPDATES


1) ICAI notified corrigendum to Study Material and Practice Manual (January 2016 Edition) for November 2016 examination.

a) Corporate and Allied laws - 12 Corrections

http://resource.cdn.icai.org/42618bos32393.pdf

b) ISCA - 2 Corrections

http://resource.cdn.icai.org/42610bos32384.pdf

2) Announcement for Campus Placement Programme for Newly Qualified Chartered Accountants August-September,2016

For Candidate who are qualified in

1)May, 2015 2) November, 2015 3) May, 2016 (Completing their articleship and GMCS latest by 31st October, 2016)

For more details: http://placement.icai.org/imgs/Announcement%20AS-16.htm

3) CA Final RTP November 2016

Financial Reporting: http://resource.cdn.icai.org/42751bos32612p1.pdf

Strategic Financial Management:

http://resource.cdn.icai.org/42752bos32612p2.pdf

Auditing and Professional Ethics: http://resource.cdn.icai.org/42753bos32612p3.pdf

Corporate Law and Allied Laws: http://resource.cdn.icai.org/42754bos32612p4.pdf

Advanced Management Accounting: http://resource.cdn.icai.org/42755bos32612p5.pdf

Information Systems and Control Audit: http://resource.cdn.icai.org/42756bos32612p6.pdf

Direct Tax Laws : http://resource.cdn.icai.org/42757bos32612p7.pdf

Indirect Tax Laws: http://resource.cdn.icai.org/42758bos32612p8.pdf

CA Exams – November, 2016

ICAI Notified exam dates of CA Final , CA IPC November 2016

Final Examination:

Group – I 1st, 3rd, 5th, 7th November, 2016

Group –II 9th, 11th, 13th & 16th November, 2016

IPC Examination:

Group – I 2nd, 4th, 6th, 8th November, 2016

Group –II 10th, 12th,& 15th November, 2016

(http://resource.cdn.icai.org/42698exam32525.pdf)

CA Exams – December, 2016

CPT – 18th December, 2016

(http://resource.cdn.icai.org/42739exam32598.pdf)


Equalisation Levy

Fancy commercial terms attracts our attention. And possibly this is how the Finance Ministry

wished to make a mark by using a fancy term to tax certain transactions from the AY (2017-18)

Google tax? Equalisation Levy? What is it all about?

Advent of e-commerce in the commercial market brought a significant change in the tax laws of

various countries as it created a necessity to sharpen the minds of legislators to tax those

transactions.

Absence of Permanent Establishment (‘PE’) at the source country from where the income is

earned, has always been an advantage for the e-commerce industry.

To curb this, the Indian government in the budget for the year 2016, came up with a fancy levy,

‘Equalisation levy’ for e-commerce transactions.

Finance minister budget speech 2016

In order to tap tax on income accruing to foreign e-commerce companies from India, it is proposed that a person making payment to a nonresident, who does not have a permanent establishment, exceeding in aggregate Rs 1 lakh in a year, as consideration for online advertisement, will withhold tax at 6% of gross amount paid, as Equalization levy. The levy will only apply to B2B transactions. Vide chapter VIII of the recent budget, digital B2B transactions have been brought to tax for non-residents who does not have a PE in India. It is part of separate self-contained code and is not part of Income-tax Act. How much is payable? 6% of tax is payable on gross consideration payable for a ‘Specified Service’. The ‘Specified Service’ is defined as follows:

- Online advertisement - Any provision for digital advertising space or facilities/ service for the purpose of

online advertisement - Any other service which may be notified later.


Onus of discharging the liability: The liability to discharge the levy is on resident person and foreign company (having a PE in India) who is required to withhold Equalisation Levy while making payment to a non-resident service provider. Further, the compliance procedure is similar to withholding tax compliances already prevalent in India. Consequences of non-compliance: Delayed payment carries a simple interest at 1% of the outstanding levy for every month or part thereof is delayed. Further, the CBDT has notified the Equalisation levy Rules, 2016 containing compliance with the provisions as introduced by Finance Act, 2016. When there is an effect, there should be a cause Why was the Equalisation Levy introduced? Before explaining the cause for equalisation levy, we need to understand two terms here. 1. OECD – Organisation for Economic Co-operation and Development – One of the organisation responsible for démonstrating the tax policies to be adopted as part of changing business environment. 2. BEPS – Base Erosion and Profit Shifting – It refers to eroding of profits from the base and shifting the profits to a low tax/ no tax country. OECD came up with an action plan to curb this. Under the BEPS Action Plan 1, the OECD considered Equalisation Levy as one of the modes of taxing the Digital transactions. India’s action on BEPS agenda relating to Digital Economy was eagerly awaited as India had played a significant role in incorporating various tax options in the Action Plan. Indian government has taken the first step as part of BEPS action plan – the Equalisation plan as it is called. Now all we have to do is wait and analyse the effectiveness of this levy.

About the Author

Name: Balachandar S

Qualification: CA Qualified

Email : [email protected]


FORENSIC AUDIT

Results are out and KUDOS to all those who have cleared!

Post the celebrations and the parties, getting back to the present; I am pretty sure all those who

have cleared will agree that the grass is never green on the other side. In the mind of every

fresher, amidst the happiness of qualifying, lies the inevitable worry of “WHAT NEXT?” This is

an attempt to answer such a question with one possible career choice – “FORENSIC AUDIT”.

With the upsurge of financial accounting fraud in the global economy, the daily tabloid today,

jogs the memory of every finance professional by its reports on various scandals. To a chartered

accountant, this definitely means more bread and butter. Hence, an increasing level-of

importance is being attached to FORENSIC AUDIT. The clock is ticking and the time, when

statutory audits may be replaced by Forensic Audit, is not very far.

This article is an attempt to give its readers, answers to frequently asked questions about

“FORENSIC AUDIT”; namely ‘What is it about?’, The ‘Nature and Scope of work’ involved, the

‘Attributes and qualities desired’ in a forensic accountant.

WHAT IS FORENSIC AUDIT?

FORENSIC AUDIT involves examination and evaluation of financial information for use as

evidence in a court of law. The regularity and propriety of off Balance Sheet items are examined,

while conducting a forensic audit.


NATURE AND SCOPE OF WORK

For a Forensic accountant the canvas is broad - some of the popular spheres of work are narrated

below.

DESIRED ATTRIBUTES AND QUALITIES

It’s a beautiful thing when career and passion come together; forensics demands an overdose of

the same. If you strongly sense a ‘Sherlock Homes’ in you and want to sniff financial statements,

then, you are on the right page; scroll down further – check your boxes – and feel relieved about

having found the remedy to your “WHAT NEXT?” anxiety. The answer being - YOU WANT TO

BE A FORENSIC ACCOUNTANT!

A Forensic accountant is not a passive watchdog, but a bloodhound, who presumes guilt unless

proven innocent. CA. Sherlock Homes works with a hunch that a fraud is lurking around the

corner and his golden rule is “Question every single document and customarily look for

inconsistencies!”

CRIMINAL INVESTIGATION

# Window dressing

INSURANCE CLAIMS

# Valuation

FRAUD INVESTIGATION

# bloodhound

PROFESSIONAL NEGLIGENCE

# Auditing the Auditor

DISPUTE SETTLEMENT

# handle disagreements, disputes, claims and infringement

LITIGATION SUPPORT

# testify as witness, assist in cross examination & formulation of questions to be asked at trail


The specific skills that are called for in a forensic accountant are elucidated below.

In India, the CA qualification will give you a head start. Similarly, a CPA qualification in the US

and ACCA in the UK is important at the outset. Universally, Forensic accountants are adding

further value to their brand by taking up the Certified Fraud Examiner (CFE) program or the

Certified Forensic Accountant (CrFA) exam.

PASSION is the DIFFERENCE between having a JOB or having a CAREER. In this age of crime,

every organization should proactively protect itself against fraud. So, get going, exploit this

diamond mine, because you never know what the future holds for you.

WORK HARD. PLAY HARDER.

ACCOUNTING SKILLS

ANALYTICAL SKILLS

INVESTIGATIVE INTUTION

ATTENTION TO DETAILS

LEGAL SKILLS INTERPERSONAL

SKILLS

RESEARCH SKILLS

About the Author

Name: CA. Radhika Muthuswamy

Qualification: Chartered Accountant

Email : [email protected]


Faces in the News

Recep Tayyip Erdoğan

*12th President of Turkey

On 15 July 2016, a coup d'état was attempted by the military, with aims to remove Erdoğan from government for his dictorship, however by the next day Erdoğan’s government managed to reassert effective control in the country

Theresa May

*Prime Minister of the United Kingdom

Following the resignation of David Cameron on 24 June 2016, May announced her candidacy for the leadership of the Conservative Party and quickly emerged as the front-runner. She was appointed Prime Minister, the second woman to hold that office, after Margaret Thatcher

John Hanke

*Founder and CEO of Niantic, Inc.

A company that creates experimental mobile, social, and local applications. The company is most widely known for its creation of Pokémon Go and Ingress.

Sushma Swaraj

*Minister of External Affairs

She is known for her quick and efficient redressal of public grivances in Twitter. This past week she stepped into help 10,000 starving Indians who became jobless in Jeddah (Saudi Arabia) due to the closure of factories


Gita Series – Episode 2 by Nivedha Srinivasan

In the last edition of the Gita series what lead to the Kurukshetra war was discussed and the

setting of the Gita in the battlefield amongst the rivaling Kauravas and the Pandavas was

elucidated.

This is the beginning of the 18 chapters of the Bhagavath Gita where each chapter is called a

“yoga”.

Summary :

Chapter one introduces the scene, the setting, the

circumstances and the characters involved

determining the reasons for the Bhagavad-Gita's

revelation. The scene is the sacred plain of

Kuruksetra. The setting is a battlefield. The

circumstance is war. The main characters are Lord

Krishna and Prince Arjuna, witnessed by four million

soldiers led by their respective military commanders.

After naming the principal warriors on both sides,

Arjunas growing dejection is described due to the fear of losing friends and relatives in the course

of the impending war and the subsequent sins attached to such actions. Thus this chapter is

entitled: Lamenting the Consequence of War.

Just when the opposite parties blow their

counchshells indicating the start of the war, Arjuna

expresses his desire to ride to the center of the

battlefield to place things in perspective and fix his

goals and know who is fighting him in the battle as his

enemy.

Krishna, his friend and acting as Arjuna's charioteer

rode to the midst of the huge army and stopped the

horses to let Arjuna look at all those assembled in his

cousins’ side to fight the Pandavas. On the battlefield

Arjuna could see all of his relatives. He could see


persons like Bhūriśravā, who were his father's contemporaries, grandfathers Bhīṣma and

Somadatta, teachers like Droṇācārya and Kṛpācārya, maternal uncles Śalya and Śakuni, brother

Duryodhana, son Lakṣmaṇa, friends like Aśvatthāmā, well-wishers like Kṛtavarmā, etc. He could

see also the armies which contained many of his friends.

Seeing his friends ready to fight him brought great sadness into Arjuna’s mind. He was confused

and sympathetic towards them making his limbs quiver and mouth dry. Their imminent death at

his hands were a sight he could foresee and shook him further making his strong hold weak,

dropping his famous bow Gāṇḍīva from his hands. His heart burned and he could feel that

sensation travelling up his skin.

Arjuna was known as Guḍākeśa. Guḍāka means sleep,

and one who conquers sleep is called guḍākeśa. Sleep

also means ignorance. He was said to be an able

warrior conquering and winning great challenges with

ease. He was knowledgeable, brave and a man of great

caliber who befriended Krishna himself.

The irony to see this man, a great warrior of his time

shaking, quivering and losing his strength and his

stability on seeing his relatives and friends waiting in

enemy quarters.

What do you think?

Have you felt helpless when certain circumstances push you to your edges and you feel like

drowning in our lonely feelings? Well that was what someone great like him was going through.

We have these feelings from time to time which only make us more humane. Accept those

feelings and we togther will look for the solution in the coming series.

**********

Statutory Guide

Compiled by Aravind K.

Due Dates of the month August 2016

DUE DATE

STATUTE COMPLIANCE REQUIRED FORM NO. / CHALLAN

NO.

5 INCOME TAX

LAST DATE FOR FILING RETURN OF INCOME FOR THE PY. 2015-16 FOR NON CORPORATE ASSESSEES WHOSE ACCOUNTS ARE NOT SUBJECT TO AUDIT UNDER THE INCOME TAX ACT,1961 (NOTIFICATION NO F.No.225/195/2016/ITA.||, Dt: 29th of July 2016)

ITR 1/2/2A/3/4/5/7

6 CENTRAL EXCISE / SERVICE

TAX

DUTY REMITTANCE – CORPORATES FOR JULY 2016

GAR-7

7 INCOME TAX

TDS/TCS REMITTANCE FOR JULY 2016

281

10 CENTRAL EXCISE

EXCISE RETURNS – MANUFACTURERS AND NON SSI FOR JULY 2016

ER1, ER2

14 STATE SALES TAX

REMITTANCE OF VAT/CST – ELECTRONIC AND RETURN FILING. TO > 200 CRORES IN PY 2015 – 2016

FORM I/FORM 1

15 E.P.F REMITTANCE OF EPF AND MONTHLY RETURN FILING FOR JULY 2016

12A, 5/10

INCOME TAX

ISSUE OF TDS CERTIFICATES – NON SALARY – GOVT DEDUCTORS JULY 2016

FORM 16A

INCOME TAX

ISSUE OF TDS CERTIFICATE IF DEDUCTOR IS A PERSON OTHER THAN OFFICE OF GOVERNMENT FOR TDS MADE FOR QUARTER ENDING JUNE 2016 EXCEPT ON SALARIES

16A

20 VAT REMITTANCE OF VAT/CST – ELECTRONIC AND RETURN FILING. TO < 200 CRORES IN PY 2015-2016

FORM I/FORM 1

21 E.S.I REMITTANCE OF ESI AND MONTHLY RETURN FOR JULY 2016

31 INCOME TAX

ANNUAL INFORMATION RETURN FOR JULY 2016

61A

JOIN US

Attention : Inviting articles for the next issue of

EYE which is set out to be released by

1st of September.

Topics: Articles revolving around finance,

accounts and economies. We encourage and

need budding writers and thinkers.

Do send us your thoughts to

[email protected] latest by 20th of August.

The content writer shall be notified if the article

has been short listed.

Do send us your reviews and comments to

[email protected]

Our Facebook Page :

www.facebook.com/camedhakendra

mailto:[email protected]

mailto:[email protected]

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Documents

CA MEDHA KENDRA E.Y.E | August 2016...Other s have set up free phon e charging stations for players as the game is a battery hog. Bloomberg reports of Zagg Inc. (ZAGG), a company that