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Updates of the Day

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1. CBDT enables e-Filing of form No. 61B relating to statement of reportable account u/s 285BA(1) of the Income Tax Act, 1961 has been enabled for “Registration” and “Submission of nil statement”.

 2. Changes in Singapore's Companies Act exempts private limited companies from audit requirements.

 3. The Supreme Court, on 25 August, 2015, has held that cash discount is deductible from transaction value under new Section 4 of Central Excise Act, 1944 also as amended in the year 2000. [Purolator India Ltd. vs. CCE]

 4. SEBI issues guidance note on Insider Trading Regulations, 2015; Clarifies that exercise of ESOPs shall not be considered to be “Trading” except for the purposes of Chapter III (relating to ‘disclosure of trading by insiders’).

 5. DVAT Authorities have notified the Delhi Value Added Tax (Amendment) Rules, 2015 which shall come into force on the date of their publication in the Delhi Gazette.

 6. Empanelment of Members to Act as observers at the examination centers for CA examinations November / December 2015.http://220.227.161.86/38931examannuobserver250815.pdf

7. Applications are invited for empanelment as examiner in respect of the Chartered Accountants Examinations.Format of the application for empanelment can be downloaded from www.icai.org

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