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Updates of the day...

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Updates Of the Day

1.Online Applications are invited from CA firms / LLPs from 1st January 2016 to 15th February 2016 for empanelment for appointment as auditors of Govt Co.s / Corporations for the year 2016-17. www.saiindia.gov.in.
2.ICAI issued revised schedule of counting of votes for Northern Region
o Postal Ballots –4th or 5th January, 2016
o Ballot Boxes – 5th or 6th January, 2016
3.Ghaziabad branch of CIRC OF ICAI is hosting National Convention of CA Students on 25th and 26th December 2015 at Hindi Bhawan, Lohia Nagar, Ghaziabad Fee : 400/- only. For registration call at 0120-4114478 / 2793802
4.Lok Sabha on Thursday passed the Arbitration and Conciliation (Amendment) Bill, 2015, aimed at making dispute resolution in the country quicker and easier.
5.Reserve Bank of India has created an email helpline to provide regulatory advice for start-ups.
6.MCA has notified the Companies (Meetings of Board and its Powers) Second Amendment Rules, 2015 which shall come into force on the date of their publication in the official gazette.
7.Only functionally comparable companies can be compared for calculating ALP under Transfer Pricing.
[ITAT : Acclaris Business Solutions Pvt. Ltd. vs I.T.O.]
8.The assessee is an AOP but department wrongly issued PAN as Firm, there cannot be any insistence that return should be filed in the same capacity. [Gujarat High Court in Tulsi Mall AOP vs CIT 2015 (12) TMI 1077]
9.CBDT issues draft guidelines for determination of Place of Effective Management (POEM) of a Company - Suggestions to be given by 02.01.2016.

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