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Updates of the day...

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Updates Of the Day
1.ICAI invites Quotations from CA / Firms of CAs for consultant for Ind AS as ICAI needs assistance from an experienced and competent consultant in preparation of financial statements for the year 2015-2016.
2.PF sms alert has started from today, to know your total PF balance, just give a missed call on 01122901406 from your registered mobile number and you will get SMS alert immediately.
3.CBEC direct its custom officers to follow instructions scrupulously given in Audit Manual 2015. Notifications F.No.307/32/2015-SO ( PAC-Cus.).
4.MCA has amended the Companies (Audit and Auditors) Rules, 2014 and notified the rules, it shall come into force on the date of their publication in the Official Gazette.
5.Transfer Pricing adjustment cannot be made in respect of transactions with unrelated third parties. [CIT vs M/s Thyssen Krupp Industries India Pvt. Ltd. (Bombay High Court)]
6.Trade Discount on sales after considering commercial expediency and accrual method of accounting is allowable claim.[ ACIT Vs. Rukamani Iyer: ITAT Mumbai Bench].

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