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Apr 16, 2012

Download Revised Form 49A Excel Auto utility

Download Revised Form 49A Excel Auto utility

Posted: 16 Apr 2012 08:48 PM PDT

Download Revised Form 49A Excel Auto utility - This form should be used when the applicant has never applied for a PAN or does not have PAN allotted to him. An applicant can visit Income Tax Department (ITD) website to find whether a PAN has been allotted to him or not.

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Transactions only in money or actionable claims do not constitute taxable service

Posted: 16 Apr 2012 08:32 PM PDT

1. What kind of activities would come under 'transaction only in money'? ♦ Deposits in or withdrawals from a bank account. ♦ Advancement or repayment of principal sum on loan to someone. ♦ Conversion of Rs. 1,000 currency note into one rupee coins to the extent amount is received in money...

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Service Tax on services by an employee to the employer

Posted: 16 Apr 2012 08:30 PM PDT

1. Are all services provided by an employer to the employee outside the ambit of services?No. Only services that are provided by the employee to the employer in the course of employment are outside the ambit of services. Services provided outside ambit of employment for a consideration would be a...

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Service Tax – Negative list of services

Posted: 16 Apr 2012 07:43 PM PDT

NEGATIVE LIST OF SERVICES (a)  Services by Government or a local authority excluding the following services to the extent they are not covered elsewhere:  (i)  services by the Department of Posts by way of speed post, express parcel post, life insurance and agency services provided to a person...

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TDS Rate Chart for F.Y. 2011-12, 2010-11, 2009-10

Posted: 16 Apr 2012 06:32 PM PDT

Download TDS Rate Chart for Financial Year (F.Y.) 2011-12 /Assessment Year (A.Y.) 2012-13. Download TDS Rate Chart for Financial Year (F.Y.) 2010-11 /Assessment Year (A.Y.) 2011-12. Download TDS Rate Chart for Financial Year (F.Y.) 2009-10 /Assessment Year (A.Y.) 2010-11

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Section 44AD – Is it really a palpable transformation?

Posted: 16 Apr 2012 06:20 PM PDT

Recently, the Section 44AD has been revised and now it is applicable to all businesses instead of only to civil construction business. On the other outset, limit of tax audit u/s 44AB is increased to Rs. 60 lakh from earlier limit of Rs. 40 lakh. Being an entrepreneur first, I had lot of...

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Procedure – Lower / Nil rate TDS deduction Certificate

Posted: 16 Apr 2012 06:19 PM PDT

Where a taxpayer believes that its total income justifies withholding of tax at a lower rate, it can apply to the assessing officer for a certificate of withholding tax at a lower rate. The application by the taxpayer to the AO for a certificate of withholding tax at a lower rate is governed by...

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How to download online TDS Certificates in Form No. 16A

Posted: 16 Apr 2012 06:11 PM PDT

In order to enable you to generate the TDS Certificates through TIN Website, you will be required to follow the following steps: 1. The deductor has to register their TAN with NSDL website. Click on the "Online TAN Registration" available in the home page of www.tin-nsdl.com and follow the due...

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Mode of Issue of TDS certificate in Form 16A

Posted: 16 Apr 2012 06:03 PM PDT

All deductors (including government deductors who deposit TDS in the Central Government Account through book entry) shall issue TDS certificate in Form No. 16A generated through TIN central system and which is downloaded from the TIN website with a unique TDS certificate number in respect of all...

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No need to Pay Cess – SC Order for Trust in Maharashtra

Posted: 16 Apr 2012 11:31 AM PDT

According to a Supreme Court order as given below, there is no need for the Charitable & Religious Trusts Registered in Maharashtra to pay the 2% Annual Cess / Levy / Fees Tax Contribution to the Charity Commissioner's Office, of their total income, which is used to run the Charity...

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Empanelment of CA firms for Internal Audit of Indbank

Posted: 15 Apr 2012 08:45 PM PDT

Indbank Merchant Banking Services Ltd invites applications for empanelment as Chartered Accountants firm for Internal Audit. 1. Eligibility criteria: -a) Chartered Accountant firm operating from Chennai with a minimum of 4 partners with experience in conduct of internal audit of NBFCs /...

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Service Tax – Meaning of the term consideration

Posted: 15 Apr 2012 08:45 PM PDT

'Consideration' has not been defined in the Act. The definition of 'consideration' as given in the Indian Contract Act, 1872 can safely be adopted to understand the concept of consideration. When so applied to the Act, 'consideration' for a service provided or agreed to be provided by service...

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MAVIM invites bid from CA firms for Audit

Posted: 15 Apr 2012 08:44 PM PDT

Mahila Arthik Vikas Mahamandal (MAVIM) (A Govt. of Maharashtra undertaking) implementing IFAD funded (Loan No 682IN ) Tejaswini Maharashtra Rural Women's Empowerment Programme in 33 Districts of Maharashtra is inviting EOI from reputed firms of Chartered Accountants, empanelled with CAG of India...

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Service tax on 'transfer of right to use goods'

Posted: 15 Apr 2012 08:42 PM PDT

Transfer of right to use goods is a well recognized constitutional and legal concept. Every transfer of goods on lease, license or hiring basis does not result in transfer of right to use goods. Transfer of right of goods involves transfer of possession and effective control over such goods in...

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New Auto Pan Correction Utility in Excel

Posted: 15 Apr 2012 08:42 PM PDT

This excel utility should be used when PAN has already been allotted to the applicant but applicant wants to make change/correction in PAN data. A new PAN card bearing the same PAN with updated details will be issued to applicant. The form is updated with recent changes made in the same and...

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Empanelment with Indian Institute of Management Ranchi for a/c related work

Posted: 15 Apr 2012 08:30 PM PDT

Empanelment with Indian Institute of Management Ranchi for Account  related work Last Date for Application 30.04.2012 Download Full Press Release from Indian Institute of Management Ranchi for Full Details on above  

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Revised Formats for Disclosure of Financial Results of Listed Companies

Posted: 15 Apr 2012 08:30 PM PDT

It has been decided to carry out consequential amendments to Clause 41 of the Listing Agreement regarding interim disclosure of financial results by listed entities to the stock exchanges, which has been drawn from the format under Schedule VI of the Companies Act, 1956. Accordingly, the format for...

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Empanelment with ICAI for programmes to be organized by the Committee for Capacity Building

Posted: 15 Apr 2012 08:30 PM PDT

Invitation for empanelment as Resource Persons for the programmes to be organized by the Committee for Capacity Building of CA Firms and Small & Medium Practitioners (CCBCAF&SMP). The Committee for Capacity Building of CA Firms and Small & Medium Practitioners(CCBCAF&SMP) of the...

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Empowering Growth of Emerging Enterprises

Posted: 15 Apr 2012 08:20 PM PDT

SMEs are universally acknowledged as major contributors to Gross Domestic Product (GDP) and even larger contributors to exports and employment. SMEs play a critical role in the economic and social development of emerging markets by creating jobs and generating income for low-income groups. This...

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Macroeconomic and Monetary Developments in 2011-12

Posted: 15 Apr 2012 08:20 PM PDT

Growth is likely to improve moderately in 2012-13. While inflation has moderated, risks to inflation are still on the upside. Accordingly, monetary policy needs to support growth without inflation and external imbalances by excessively fuelling demand.

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Regulations for Standard Proposal form in Life Insurance

Posted: 15 Apr 2012 08:19 PM PDT

The purpose of these regulations is to provide for a standard proposal form for individual policies in Life Insurance that has an inbuilt flexibility for seeking additional /specialized information that is product specific or specific to a particular risk category. The regulations provide for a...

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Sending Annual Reports of Companies through E-Mail- Green Initiative

Posted: 15 Apr 2012 05:32 PM PDT

As you are already aware, as a part of green initiative, the Ministry of Corporate Affairs vide its circular number 18/2011 dated 29.04.11 had clarified that a company would be in compliance of section 219(1) of the Companies Act, 1956 in case a copy of balance sheet etc. is sent by electronic mail...

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