Latest news with #BBA
Time of India
2 days ago
- Business
- Time of India
Students face increased counselling charges for BBA, BCA admissions after shift to DTE
Indore: Students seeking admission in BBA and BCA courses are facing a sharp increase in counselling charges this year, following the shift of the admission process from the Department of Higher Education (DHE) to the Directorate of Technical Education (DTE). With choice filling beginning on Thursday, students are now required to pay Rs1530, including Rs130 as portal charges— 10 times more than the Rs150 fee charged until last year. The sudden hike has added to the financial strain for students, particularly because BBA and BCA courses already have higher academic costs compared to other undergraduate programmes. The examination fee for BBA and BCA is around Rs4000, while for traditional courses like BA and BCom, it stands at approximately Rs2000. "This increase in the registration fee is a huge burden. Many of us come from middle-class families and already struggle with high exam fees and other academic expenses. We also appeared for various entrance tests which are heavy on our pockets," said Priyanshi Jain, an aspirant applying for BBA. "The jump from Rs150 to Rs1530 feels unfair and unplanned." Many students are approaching the colleges expressing concern over the steep registration charges. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Visste du dette? Slik kan du faktisk bremse aldring Younger You Klikk her Undo "The same fee structure that DTE follows for postgraduate professional courses like MBA and MCA seems to have been extended to BBA and BCA as well. We plan to write to the department requesting a reconsideration or reduction," a senior professor said. While choice filling was scheduled to start on Wednesday as per DTE's schedule, the portal became operational only by Thursday morning. However, students were greeted with a small but welcome change—the addition of a third specialisation in the BBA course. Alongside Hotel Management and Foreign Trade, students can now opt for BBA in Hospital Administration (HA). The inclusion came after repeated discussions between college representatives and DTE officials. College administrators urged the authorities to allow all three specialisations under plain BBA to widen students' career options. Despite the new addition, the increased counselling charges remain a major concern among aspiring students and their families.
Forbes
4 days ago
- Business
- Forbes
5 Things You Should Know About The IRS BBA Partnership Audit Rules
BBA Partnership Audits Partnerships are an enigma under federal tax law. Although the partnership files an annual income tax return (i.e., Form 1065), the partners report their allocable share of the partnership's tax items on their income tax returns (e.g., Form 1040). Due to the complexity inherent in partnership income tax reporting, Congress has historically struggled in attempting to find an appropriate examination tool to provide to the IRS to audit partnerships. After more than three decades under the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), Congress changed the partnership audit and collection rules through passage of the Bipartisan Budget Act of 2015 (BBA). Under the BBA, the IRS must generally audit the partnership unless the partnership qualifies for and makes a timely election out of the BBA centralized partnership audit regime. Significantly, the BBA audit provisions also allow the IRS to collect taxes directly from the partnership unless the partnership makes a timely election to 'push out' the adjustments to its partners. The new BBA partnership audit rules are complex and provide ample opportunities to mess up, including missing an election. This article discusses five components of the BBA audit provisions that every tax professional should recognize and understand. BBA Partnership Audit Notices The IRS generally issues four notices during a BBA partnership audit. These notices include: (i) notices of selection for examination; (ii) notices of administrative proceeding (NAP); (iii) notices of proposed partnership adjustment (NOPPA); and (iv) notices of final partnership adjustments (FPA). To commence a BBA examination, the IRS issues the partnership a notice of selection for examination. Roughly thirty days after this notice, the IRS issues the NAP. After the NAP is issued, neither the partnership nor its partners may file an administrative adjustment request or notice of inconsistent statement, either of which often seeks to change the partnership's income tax reporting. If the IRS examiner concludes that adjustments are necessary to the partnership return, the agency will issue a NOPPA that contains and details the proposed partnership adjustments. As discussed more below, the IRS will first allow the partnership an opportunity to an administrative appeal prior to issuance of the NOPPA. After issuance of the NOPPA, the partnership has a 270-day window to request modifications to the proposed partnership-level tax, which is known as an 'imputed underpayment.' Generally, the partnership representative makes the modification requests by electronically filing an IRS Form 8980, Partnership Request for Modification of Imputed Underpayment Under IRC Section 6225(c). If the partnership and the IRS continue to disagree on the proposed adjustments, the IRS issues an FPA. The FPA triggers two important deadlines. First, the partnership representative may elect to 'push out' the FPA's adjustments to the partners if an election is made within 45 days of the FPA. Second, the FPA starts a 90-day deadline for the partnership representative to contest the FPA's determinations in federal court. BBA Partnership Push-Out Election A timely push-out election can significantly reduce overall income tax. If the partnership representative makes the election, any proposed adjustments resulting in an imputed underpayment are pushed out to the reviewed-year partners, i.e., the persons who were partners for the year under IRS scrutiny. Because a push-out election results in a higher applicable interest rate, however, partnerships should consult with their tax advisors to determine the impact of the push-out election prior to making it. Given the 45-day deadline, there is not much time here to make the analysis—so tax advisers should be engaged early on after the IRS issues the FPA. A partnership representative makes a push-out election by completing and electronically filing an IRS Form 8988, Election to Alternative to Payment of the Imputed Underpayment – IRC Section 6226. In addition to filing this form, the partnership representative must provide the partners with certain information concerning the push-out adjustments. These push-out statements must be provided to the partners generally within 150 days of the FPA if the partnership representative accepts the proposed adjustments and does not seek judicial review. If the partnership representative files a timely petition for readjustment in federal court, the push-out statements must generally be provided to the partners within 60 days from the date the court enters its final decision. In either instance, the partnership representative provides its partners with IRS Forms 8985, Pass-Through – Statement Transmittal / Partnership Adjustment Tracking Report (Required Under Sections 6226 and 6227), and 8986, Partner's Share of Adjustment(s) to Partnership-Related Items(s) (Required Under Sections 6226 and 6227). If these statements are not provided timely, the IRS may attempt to revoke the push-out election. BBA Partnership Audits And Deposits A BBA partnership dispute can last a long time—even more so if the partnership representative contests the proposed adjustments in federal court. If the partnership representative makes a push-out election and ultimately loses on the merits at federal court, the partners may be responsible for significant interest on the resulting income taxes. Section 6603 of the Code, which governs deposits, may be helpful here. When a taxpayer makes a deposit, it stops interest from accruing on potential taxes owed. BBA partners can make deposits of tax to stop interest, but they must follow special rules. Under IRS guidance, a BBA partner can make a section 6603 deposit by submitting a payment of the estimated tax and submitting a statement to the IRS designating the payment as a deposit. In the statement, the partner should include: (i) the name and TIN of the partnership under examination; (ii) the reviewed year of the partnership under examination; (iii) the audit control number of the partnership under examination; (iv) a statement of the amount and basis of the disputable tax; and (v) the partner's estimated allocable share of the adjustments and the tax, interest, and penalty computations. IRS Appeals Rights In BBA Partnership Audits The IRS Independent Office of Appeals (IRS Appeals) provides taxpayers with an impartial administrative forum to resolve their tax disputes with the IRS. IRS Appeals hears non-docketed cases and docketed cases. Non-docketed cases are those, as applicable to BBA partnership audits, where no petition for readjustment has been filed. Docketed cases are those pending in a federal district court. Generally, the IRS will issue a '30-Day Letter' to the partnership representative after the conclusion of the examination. The 30-Day Letter notifies the partnership of the proposed partnership adjustments and offers the partnership a right to appeal the adjustments with IRS Appeals. To request an appeals conference, the partnership representative must submit a timely protest. In addition, IRS Appeals will only accept cases where there is sufficient time remaining on the statute of limitations for the IRS to make an assessment. Accordingly, the IRS often asks for a statute of limitations extension waiver from the partnership representative in these circumstances. If the partnership representative submits a timely protest, the partnership has an opportunity to discuss disputes associated with the proposed adjustments with IRS Appeals. These disputes can relate to issues of fact or law. IRS Appeals reviews the parties' contentions to determine whether a settlement may be reached without judicial intervention. Regardless of settlement, IRS Appeals issues the NOPPA at the conclusion of the appeals conference, which as mentioned above triggers the 270-day modification period. If the partnership representative requests modifications and the IRS refuses to grant them, the case may be forwarded again to IRS Appeals solely to review the modification requests. Thereafter, IRS Appeals issues the FPA. Similar to non-docketed cases, IRS Appeals seeks to resolve disputes between the partnership representative and the IRS in docketed cases. BBA Partnership Audits And Judicial Review When the agency issues an FPA, the partnership representative has 90 days to file a petition for readjustment with the proper federal court, which is either the U.S. Tax Court, the district court in which the partnership's principal place of business is located, or the Court of Federal Claims. Partnerships do not have to pay the imputed underpayment prior to filing a petition in the U.S. Tax Court. But for a federal district court or the Court of Federal Claims to have jurisdiction, the partnership must make a deposit of the proposed imputed underpayment with the IRS on or before the petition filing date. By statute, the partnership must also pay any proposed penalties and 'additional amounts.'
The Hindu
4 days ago
- Politics
- The Hindu
Bombay Bar Association slams ED summons to senior advocates, warns of legal action
In a sharply worded statement, the Bombay Bar Association (BBA) has condemned the issuance of summons by the Enforcement Directorate (ED) to two prominent Senior Advocates, Arvind Datar and Pratap Venugopal — in connection with an ongoing money laundering investigation. Although the summons has since been withdrawn, the Association said the act itself represents a direct affront to the legal profession and the rule of law. Calling the move 'a direct attack on the legal community as a whole,' the BBA said the incident has 'shocked the collective conscience' of lawyers across India. The Association expressed grave concern over what it views as a misuse of power by the investigative agency, warning that such actions risk setting a dangerous precedent for the intimidation of advocates performing their professional duties. 'Advocates accept any professional assignment on the basis that during the course of such professional work, they would not have to face intimidation or threats of any kind,' the statement read. It added that the rule of law cannot be preserved if advocates feel threatened merely by representing clients. The Association underlined that the powers of the ED, while statutory, must be exercised within the legal framework of the country, which includes protections enshrined in the Bharatiya Sakshya Adhiniyam, 2023 — particularly provisions safeguarding professional and confidential communication between advocates and their clients. The BBA also linked the issue to broader constitutional values, noting that any interference with the legal profession undermines fundamental rights, including the right to a fair trial and legal aid under Article 21 of the Constitution. 'Any attack on an Advocate, direct or indirect, has the consequence of destroying these constitutional ideals — a situation which is antithetical to the rule of law in a democratic country like India,' the statement said. In a pointed remark, the Association said: 'Surely, this is not the Amrit Kaal,which we want to see,' adding that 'lessons in Constitutional law are required to be taught in law colleges only and not to officers of investigative agencies, on a daily basis by the respected Constitutional Courts.' Pledging full support to any legal professional targeted by overreach from investigative agencies, the Association stated that it will 'leave no stone unturned' in defending the independence and dignity of the legal profession. It also indicated its readiness to initiate legal proceedings before High Courts or the Supreme Court of India, if necessary. 'The right to practice the legal profession is a fundamental right,' the BBA emphasised, 'and we shall not hesitate to take every legal step to preserve and protect it.' The ED issued summons to the advocates during its probe into the grant of ₹250 crore worth of Employee Stock Option Plans (ESOPs) by Care Health Insurance to former Religare chairperson Rashmi Saluja. Mr. Datar had provided legal opinion on the ESOPs, while Mr. Venugopal was the advocate-on-Record. Following the backlash from legal bodies, the ED withdrew the summons and issued a directive barring such notices to advocates without prior approval from its Director, in line with Section 132 of the Bharatiya Sakshya Adhiniyam, 2023. The June 20, 2025, statement issued by the ED said, 'In view of the fact that Shri Pratap Venugopal is a Senior Advocate in the Hon'ble Supreme Court, the summons issued to him has been withdrawn and same has been communicated to him. In the said communication, it has also been stated that if any documents will be required from him in his capacity as an Independent Director of CHIL, the same will be requested from him to be submitted by email.' The statement further said that the ED has also issued a Circular for the guidance of the field formations that no summons shall be issued to any advocate in violation of Section 132 of the Bhartiya Sakshya Adhiniyam, 2023. 'Further if any summons needs to be issued under the exceptions carved out in proviso to section 132 of the BSA, 2023, the same shall be issued only with the prior approval of the Director, ED.'
Time of India
5 days ago
- Business
- Time of India
BBA, BCA e-registration begins
Indore: The department of technical education (DTE), Madhya Pradesh, commenced the online registrations for admissions into professional undergraduate courses — Bachelor of Business Administration (BBA) and Bachelor of Computer Applications (BCA) — following a revised schedule. This year marks the inclusion of BBA and BCA under the ambit of All India Council for Technical Education (AICTE), with DTE conducting the online admissions counselling for these courses for the first time. Initially, it was proposed that both courses would follow the semester system in line with AICTE's general structure. But, the higher education department has clarified that BBA and BCA will continue under the annual examination system for the 2025–26 academic session. In another development, the Association of Colleges has raised concerns about limited specialisations offered in BBA. Representatives from the association have urged the DTE to approve additional BBA specialisations such as hotel administration, foreign trade, and hospitality management. A letter has been sent to DTE recommending that students be given opportunities to choose from various industry-relevant domains, similar to MBA programmes. TNN
Time of India
5 days ago
- General
- Time of India
Maharashtra state CET cell extends BMS/BBA registration deadline extended till Friday
Pune: The state CET cell has extended the registration deadline for BBA, BCA, BMS, and BBM entrance exams to Friday, following a lukewarm response. Registration was originally set to close on June 20. These computer-based exams are being conducted for admissions to professional undergraduate courses. The earlier exam was held on April 29 and 30, with results declared on June 4. However, several students missed the test and requested a second opportunity. In response, the CET Cell will allow both fresh and previous candidates to appear again. The higher percentile score from the two attempts will be considered for admission.
