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Judge ! Who is Right?

I am Member of ICMAI form 1st Apirl 2015. worked for NIRC for one year. I Wanted to do all kinds of work for NIRC. but i cant flatter (Chaplusi) anyone. so denied some work against anyone. i was man of the match in CMA Cricket League. I removed from …

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Cost Accountancy edges over Financial Accounting

Cost accountancy edges over financial accounting. Cost accounting promotes study and adoption of scientific methods to secure maximum efficiency in industrial, commercial and other spheres, as compared to financial accounting. Financial accounting mainly draws conclusions on the basis of post facto data long after the operations are put through and …

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Swachh Bharat Cess

Swachh Bharat Cess Meaning It is a Cess which shall be levied and collected in accordance with the provisions of Chapter VI of the Finance Act, 2015,called Swachh Bharat Cess, as service tax on all the taxable services at the rate of 0.5% of the value of taxable service. Implementation …

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Excellent Message From Whatsapp

An excellent message I got from whatsapp group…This article is a must read for everyone ???? Forwarding a good message: After years of hard & dedicated service to his Company, Ajay was being appointed at an elegant reception as the new Director. It was a small function where his wife …

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CMA Eligible for CIPFA

If you are a member of the Institute of Cost Accountants of India (ICAI), you are eligible to apply for membership of CIPFA, the globally recognised membership body for the public sector. Being a member of CIPFA will increase your current professional status, respecting the relationship you have with your …

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PUBLIC PROVIDENT FUND (PPF) SCHEME

PUBLIC PROVIDENT FUND (PPF) SCHEME 1968 Public Provident Fund (Amendment) Scheme, 2014 The Scheme introduced by the National Savings Organization in 1968 to mobilize small savings. The Scheme offers an investment avenue with decent returns coupled with income tax benefits. Salient features of the Scheme are as follows: 1. ELIGIBILTY …

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BENEFITS OF WARM WATER

BENEFITS OF WARM WATER ??? A group of Japanese Doctors confirmed that warm water is ? % effective in resolving some health problems?, including: Headache, migraine, high blood pressure, low blood pressure, pain of joints, sudden increasing and decreasing of heartbeat, Epilepsy, increasing level of cholesterol, cough, bodily discomfort, golu …

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CMA in Practice

Fields for Practice The Fields for Practising Cost Accountants are divided into two parts: a) Audit areas and b) Certification and Consultancy areas. These areas are further bifurcated under Central and State Governments. Summarized position in respect of Fields for Practicing Cost Accountants is as follows: a) Audit areas:  Cost Audit …

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F=-F

Third law of motion theory i.e F=-F is not only related to physics. its application is too broad. when we deeply study human behavior and reaction of our mind in different situations any of us can conclude the same as the theory of F=-F. The most important part of our …

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NEW SCHEME PROPOSED FOR DISCLOSURE OF INCOME

NEW SCHEME PROPOSED FOR DISCLOSURE OF INCOME ‘Pradhan Mantri Garib Kalyan Yojana, 2016’ (PMGKY) has been proposed for declaration of undisclosed income. Option I : Any Person declaring undisclosed income has to: I. PAY TAX: Income tax – 30% Penalty – 10% Pradhan Mantri Garib Kalyan Cess – (33% on …

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Insolvency and Bankruptcy Board of India

Date: 5th December 2016 Insolvency and Bankruptcy Board of India (IBBI) publishes the syllabus, format and frequency of the “Limited Insolvency Examination”. The examination will be available from 31st December, 2016 between 9:30 AM and 5:30 PM. Registration opens from 15th December 2016. The detail is given below and at …

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Human Mind

One of the core ideas of cognitive-behavioral therapy and dialectical behavioral therapy is that if you can consciously pay attention to and then deliberately shape what you think, this, in turn, will shape your moods. Here’s where you seek out those awful “shoulds” and substitute “wants”, where you pounce on …

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Unaccounted Cash Options

You have four options for unaccounted cash. Options available for unaccounted old notes of Rs. 500 and Rs. 1000. Amount of Taxes and penalty

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Lok Sabha passes Taxation Law (Second Amendment) Bill 2016 imposing 50% tax on black money

In a bid to curb the black money menace, the Narendra Modi government moved its demonetization drive to another level on Tuesday, November 29, 2016 by passing the Taxation Law Second Amendment Bill 2016. Amid uproar in the Parliament, the Lok Sabha today passed the Taxation Law Second Amendment Bill …

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Pradhan Mantri Garib Kalyan Yojna, 2016

Highlights: Declaration of Undisclosed Income: Any Person can make a declaration on or after the date of commencement of this scheme in respect of any income in cash or deposit in any account maintained by such person in any Bank,Post Office or any other entity notified by Central Government. Tax …

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Fundamental of Financial Planning

Fundamental of Financial Planning 1. 30 % of your income must be used for monthly living expenses. 2. 30% of your income must be used for Liabilities repayments. 3. 30% of your income must be SAVED for your future LIVING. 4. 10% of your income must be spared for entertainments, …

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Article on DEMONETIZATION By CMA Rakesh Bhalla

DEMONETIZATION : A Misguided Missile fired in Haste – But we should support smooth implementation in Larger interest of “ Great India” I appreciate the intention of the Government for demonetization of the currency as it might have taken in good spirit for betterment of people as well as our …

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Conversion of black money in old currency to new Currency

Dear users, Read the article, mechanism behind . Grey Areas which Black Money Hoarders are exploiting to convert their Black Money for New Currency : Are You a Black money Holder? Are You Worried about How to Convert Your Black Money for the New Currency after Demonetization? Following are some …

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Plan for removal of black money from India

The financial year will shift to Jan- Dec instead of April-March. Announcement will be made on 30th December. There is a strong possibility that Government may scrap Income Tax from FY 2017-18 and replace with Banking Transaction Tax (BTT). from 1st April 2017 possibility of only two taxes. 1. Direct …

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नोट बंदी क्यों था जरुरी

*नोट बंदी क्यों था जरुरी?* रूपये का कागज तैयार करने के लिए दुनिया में 4 फ़र्म हैं – 1. फ्रांस की अर्जो विगिज 2. अमेरिका का पोर्टल 3. स्वीडन का गेन 4. पेपर फैब्रिक्स ल्युसेंटल बड़ी बात यह है कि इनमें से दो फोर्मो का 2010-11 में पाकिस्तान के साथ …

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How Government should plan to remove black money from India?

How Government should plan to remove black money from India? Step 1 : Demonetise Rs.500 and Rs.1000. get Rs.1420000 crores out of the market. This step has been taken. Step 2 : Print Rs.2000 and Rs.500 and Rs.100 in the replacement market. This step also has been taken. Step 3 …

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PAN Required For Cash Deposit

Pan was required to be furnished by depositor for cash deposits of Rs. 50000 or more in bank account per day. Now, vide Notification dated 15-11-2016, apart from above requirement even if cash deposited per day is lesser than 50,000 still if exceeds Rs. 250000 in aggregate, for deposits from …

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Demonetization Benefits

Demonetization benefits– Achieved till date. 1. 100% Fake currency out of circulation in one stroke. 2. Hawala sources from outside and Inside dried up for Funding of Terrorists, Maoists, Naxalites ,Jihadis. 3. Cash to create chaos and terror lying with Terrorists, Maoists, Naxalites ,Jihadis gone waste. 4. Kashmir back to …

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What Corrupt Bankers are doing

Written by one of Bank Employees I am working in a leading national bank and I am writing this with great disappointment.Corrupt bank official are changing black money into white. Modus Operandi:- Government allow to change 4000/- rs per person per day. 1. Big corporate houses, factories are using i.d. …

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Demonetization

For India’s money market, it is simply a historic and surprise move. What is termed as a masterstroke, Prime Minister Narendra Modi on Tuesday night announced the demonetization of existing Rs.500 and Rs. 1000 denomination currencies from yesterday night. He said the unprecedented decision was to fight corruption and money …

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New currency and the Common man

New currency and the Common man Many people say that this move by Modi government is affecting the common man more than the one who has hoarded black money. They say, this should have been done without affecting the common man. But the common man is part of the system …

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Message of CMA President on Demonetization

Message of President on Demonetization Dear Member, On behalf of the Institute, Council, Members, Students, Officers & Employees of the Institute and also on my personal behalf, I heartily congratulate Hon’ble Prime Minister of India, Shri Narendra Modi for his bold and path breaking decision to demonetize Rs. 1000 and …

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We knew it cannot be done overnight, please be patient: Arun Jaitley on demonetisation

Union Finance Minister Arun Jaitley has appealed to the people not to be in a hurry to visit banks to exchange their cash, and called for patience for the normalization of all manner of banking operations. He also rubbished allegations that deposits had spiked before the demonetisation announcement as some …

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Be Careful on Deposit

Be Careful on Deposit. : To prevent misuse of other’s bank account, manupulated sale, illegal gold purchase, Government will take below steps. ? CBDT decides norms of scrutiny once FY completes. They can introduce any Norm. ? New form of IT return will be introduced. There will be a separate …

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FAQs on Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of ₹ 500/- and ₹ 1000/-

1. Why is this scheme introduced? The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes look similar to genuine notes, even though no security feature has been copied. The fake notes are used for antinational and illegal activities. High denomination notes …

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Waiting to exchange Rs 500, Rs 1,000 notes? Banks scheduled to remain closed on Monday

Waiting to exchange old or draw new notes from your local bank? Be aware that banks are scheduled to be closed on the coming Monday, November 14, 2016 on account of Gurupurab, according to the RBI website. This is a bank holiday scheduled as per the RBI’s annual calendar and …

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President-elect Donald Trump complains about ‘unfair’ protesters as thousands of Americans take to the streets

After a couple of unusually quiet days, Donald Trump was back to his campaign trail social media tactics Thursday evening, complaining about the thousands of “unfair” protesters demonstrating against him across the country. “Just had a very open and successful presidential election,” Trump tweeted as scores of angry New Yorkers …