Excel utility to Prepare Form 16 for 50 Employees for FY 2011-12

ITAT restricts disallowance u/s 14A for earning exempt dividend to 1% of dividend income Posted: 31 Mar 2012 09:17 PM PDT On the issue of disallowance u/s. 14A, this Bench of the Tribunal has been taking a consistent view that this disallowance should be restricted to 1% of dividend income. Following the same, in this appeal also we hold that the disallowance u/s 14A... Excel utility to Prepare Form 16 for 50 Employees for FY 2011-12 Posted: 31 Mar 2012 08:58 PM PDT This File prepare Form 16 for 50 Employees in one go. All we have to do in enter the detail of salary of employees in input sheets and the software automatically prepares form 16 for up to 50 Employees. other benefits of the utility is as follows:- How to Register with EPFO & FAQ Posted: 31 Mar 2012 07:16 PM PDT EPFO Launches online receipt of Electronic Challan cum Return (ECR) from the Month of April 2012 (March paid in April). Employers are requested to Register their establishments and create their user id and password through this portal. The... Know /Check Your EPF Balance online Posted: 31 Mar 2012 06:40 PM PDT How to Check Online Balance in Your Employee Provident Fund Account- Please click on the following link to know the balance in your EPF Account upto the date, the accounts are updated, which also includes the latest approved transactions of... Excel Tips – How to Automatically format cells (e.g. change font color) based on a certain condition? Posted: 31 Mar 2012 08:52 AM PDT Automatically format cells (e.g. change font color) based on a certain condition? Use the conditional Formatting. Conditional formatting allows you to set rules for cell formatting. If the rules (conditions) are met, then the formatting is applied.... New ITR forms asks details of foreign assets & accounts Posted: 31 Mar 2012 06:11 AM PDT In its efforts to check black money stashed in foreign banks, government has introduced a new column seeking details of foreign assets in the Income Tax Return (ITR) forms for the assessment year 2012-13. Maharashtra Budget – FY 2012 -2013 – Key proposals Posted: 31 Mar 2012 04:37 AM PDT Reduction in set-off available in case of branch transfers effected outside the State has been increased from 2% to 4% w.e.f. 1 April 2012. Now effecting stock transfers from the State of Maharashtra to depots outside the State would entail higher... Update on Branch Audit of PSU Banks for 2011-12 Posted: 31 Mar 2012 04:13 AM PDT As you all are aware that based on the recommendation of a Working Group set up by RBI, it was proposed to carry out changes in allotment of bank branch audits of the public sector banks by raising the minimum threshold (advances) limit of branches... Service Tax Rate on Bills raised or Payment Recd. before 01.04.2012 Posted: 31 Mar 2012 03:57 AM PDT As you all may be aware , as per the Finance Bill, 2012, service tax shall be leviable @ 12.36% w.e.f from 1st April, 2012. As per rule numbered 4 and 7 of Point of Taxation Rules, read with Section 38A of Central Excise Act, 1944, for any payment... Govt can't arbitrarily allot public wealth – SC Posted: 30 Mar 2012 10:22 PM PDT The Supreme Court has ruled that the government and its agencies cannot alienate public property or issues licences in favour of selected individuals or companies at its sweet will. The government cannot give or withhold largesse in its arbitrary... Indian Government Accounting Standard 3 on Loans and Advance made by Governments Posted: 30 Mar 2012 09:33 PM PDT The objective of the Standard is to lay down the norms for Recognition, Measurement, Valuation and Reporting in respect of Loans and Advances made by the Union and the State Governments in their respective Financial Statements to ensure complete,... MVAT – Amendment to Schedules A, C, and D as per Budget Speech 2012-13 Posted: 30 Mar 2012 09:28 PM PDT No. VAT. 1512/ C.R. 40/Taxation-1.— In exercise of the powers conferred by sub-section (1) of section 9 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Government of Maharashtra hereby with effect from the 1st April 2012 amends... MVAT – Amendment to Rule 53(3)-Increase in rate of reduction on Branch Transfer by 2 per cent Posted: 30 Mar 2012 09:20 PM PDT These rules may be called the Maharashtra Value Added Tax (Second Amendment) Rules, 2012. 2. In rule 53 of the Maharashtra Value Added Tax Rules,2005, in sub-rule (3), (1) in clause (a), for the words, brackets and figures the amount calculated at... No More Incentive of 80% Depreciation on Wind Mills Installed after 31-3-2012 Posted: 30 Mar 2012 08:50 PM PDT NOTIFICATION NO. 15/2012 In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:- Pay more for travel in AC-First Class, AC-2 Tier, Executive & First Class from Tomorrow Posted: 30 Mar 2012 06:04 PM PDT The Ministry of Railways has revised passenger fares with effect from tomorrow i.e. 1st April 2012 in AC-First Class, AC-2 tier, Executive Class and First Class only. There is no revision in other classes of travel. The revised fares in these... S. 80IB(10) Do not mandate that housing project must be on vacant land plot having minimum one acre area Posted: 30 Mar 2012 05:30 PM PDT For the purposes of Section 80IB (10) it is not the mandate of the Section that the housing project must be on a vacant plot of land having minimum area of one acre and that where a new housing project is constructed on a plot of land having minimum... Participatory Note holders not liable to pay tax in India – FM Posted: 30 Mar 2012 05:21 PM PDT Finance Minister Pranab Mukherjee today said that persons investing in stock markets through participatory notes, P-Notes, will not have to pay taxes in India. The assurance pushed up the stock market today. He told reporters in New Delhi that the... Impact of Privacy Policy Changes by Google Posted: 30 Mar 2012 12:23 PM PDT The new Google Privacy Policy provides information to the end users as to how their personal information is collected, for which it is collected, processed and secure. The end users, however, need to fully understand the privacy policy of Google,... RBI decides to permit non-bank entities to setup, own and operate ATMs Posted: 30 Mar 2012 12:21 PM PDT Reserve Bank of India (RBI) has decided to permit non-bank entities to setup, own and operate ATMs. The draft guidelines on deployment of White Label ATMs were placed on RBI website for public comments till March 6, 2012. Frequent Change of CRR Posted: 30 Mar 2012 12:17 PM PDT The main purpose of reducing the CRR is injection of primary liquidity in the system so as to assist the flow of credit growth to the productive sectors of economy, mitigate the downside risks to growth and anchoring the medium term expectations to... IRDA – Declaration of Bonus under Section 49 of the Insurance Act, 1938 Posted: 30 Mar 2012 05:48 AM PDT CIRCULAR No: IRDA/F&A/CIR/ACTS/083/03/2012, dated 30-3-2012 -Please refer to Circular Nos: F&A/CIR/011/MAR-04, dated 23rd March, 2004 and IRDA/F&A/002/Apr-07, dated 16th April 2007 and IRDA/F&A/CIR/014/May-09, dated 29th May,... IRDA – NAV Delaration for application received on 31st March, 2012 Posted: 30 Mar 2012 05:36 AM PDT It is hereby informed that the 31st Mar, 2012 of financial year 2011-12 falls on a Saturday. Hence, all Life Insurers, in connection with processing of applications of Unit Linked Business shall apply the following rule: