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Updates of the Day !!!!!!!!!!!!

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1. The ITAT was not correct in allowing registration u/s 12AA, especially when the family run trust did not submit details of assets and properties that they possessed. [CIT v/s. Sri Guru Gorakh Nath Charitable Education Society, High Court of Punjab and Haryana].

 2. MCA site will be closed on 11th July, 2015 (Saturday) due to periodic maintenance. Thus MCA 21 portal will not be available from 8am - 6 pm.

 3. Secretarial standards SS-1 (Meeting of BODs) and SS-2 (General Meetings) has become mandatory from 1st July, 2015.

 4. Government issued guidelines for use of digitally signed invoices/records in Central Excise and Service Tax [The neoteric, Notification No. 18/2015- Central Excise (N.T.)].

 5. RBI has revised the ‘NBFC (Approval of Acquisition or Transfer of Control) Directions, 2014’ which regulates the requirement for obtaining prior approval of RBI in cases of acquisition/ transfer of control of Non-Banking Financial Companies (NBFCs).

 6. ICAI has issued an expert opinion on Treatment of foreign exchange fluctuations and interest cost on issuance of FCCB.

 7. The result of the CA Final May, 15, CPT June, 15 & ISA June, 15 Exam Result
are likely to be declared on Thursday, the 16th July, 2015 @ 2PM.

8. Applications are invited for Empanelment of Chartered Accountants as Concurrent Auditors of UCO Bank. Last date 31st July 2015.

9. SBBJ hosted list of empanelled CA Firm for concurrent audit and stock audit.

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