Dear Friends, I recently launched a website all new updates will be given to you now on this website only those who are existing subscriber to are requested to visit to suscribe to

Apr 4, 2012

Form-16 in Excel For AY 2012-2013

New Schedule VI In Excel with B/S, P/L, Notes, Disclosures, Comparision with Old

Posted: 04 Apr 2012 08:45 PM PDT

As per the Government Notification no. F.No.2/6/2008-C.L-V dated 30-3-2011, the Revised Schedule VI is applicable for the Balance Sheet and Profit and Loss Account to be prepared for the financial year commencing on or after April 1, 2011.

Service Tax Return / Payment – Monthly, Quarterly, Half yearly?

Posted: 04 Apr 2012 08:45 PM PDT

Budget 2012 Presented by Finance Minister on 17.03.2012 proposed that the cycles for the payment service tax and filing of return should coincide. In View of the same Following Changes are proposed in Rules Related to periodicity of Service tax...

Form-16 in Excel For AY 2012-2013

Posted: 04 Apr 2012 08:40 PM PDT

This Excel utility is fully automated. Just put the data in Data input sheet and it will prepare the Form-16 automatically. User can also take printout of Form 16 prepared through this utility. Format if form 16 is latest and applicable from A.Y....

Harmonisation of Service Tax and Central Excise Registration

Posted: 04 Apr 2012 08:40 PM PDT

It is proposed to prescribe a common application format (as per Annexure 1) for seeking registration under Central Excise as well as Service Tax. It is also proposed to revisit the process of registration under both Central Excise and Service Tax to...

Proforma promtotion to Additional CITs on deputation As CITs

Posted: 04 Apr 2012 08:39 PM PDT

CBDT has Vide Order No. 65 dated 3.4.12 passed in continuation to Order No. 8 of 1012 dated 12.1.2012 the to granted Proforma Promotion the several Additional Commissioner of Income Tax, who are on deputation to ex-cadre posts mentioned against...

ITAT deletes Addition to Income of Kapil Dev on protective basis in respect of income from undisclosed sources

Posted: 04 Apr 2012 08:18 PM PDT

Hon'ble Delhi High Court in the case of R.K. Jain (supra) has observed that in case of search material, the same is to be assessed by way of block assessment under Chapter XIV-B. Similar view is echoed by Hon'ble Bombay High Court in the case of Dr....

AAR Implements GAAR – Held Selective share buy-back as colourable transaction

Posted: 04 Apr 2012 08:09 PM PDT

In this case, there is no dispute that no dividend had been paid to any of the shareholders after 1.4.2003 on which date Section 115-O of the Act was introduced in its present form. The accumulation in the reserves was allowed to be increased...

S.54EC limit of 50 Lakh applies to FY not to transaction, Delay Due to non availability of Bonds to be considered within 6 months

Posted: 04 Apr 2012 08:05 PM PDT

It is clear from this proviso that where assessee transfers his capital asset after 30th September of the financial year he gets an opportunity to make an investment of Rs.50 lakhs each in two different financial years and is able to claim...

Interest paid by PE of foreign bank to H.O. deductible in hands of PE, But same interest taxable in hands of H.O.

Posted: 04 Apr 2012 02:46 PM PDT

Although interest paid to the head office of the assessee bank by its Indian branch which constitutes its PE in India is not deductible as expenditure under the domestic law being payment to self, the same is deductible while determining the profit...

S.32 Business information, contracts, records are "intangible assets" & eligible for depreciation

Posted: 04 Apr 2012 12:04 PM PDT

The assessee has not claimed depreciation on goodwill it acquired commercial rights to sell products under the trade name and paid consideration in dispute for acquiring marketing and territorial rights to sell through dealers and distributors i.e....

Excel Tips – Formulas to calculate Loan payments in Microsoft Excel

Posted: 04 Apr 2012 09:16 AM PDT

Formulas that calculate loan payments, principal, interest and more are found in the financial category in the Paste Function dialog box. In the screen shot is a list of functions and necessary syntax for loan calculations. See the formulas in the...

ICAI further extends CPC registration date to 9th April, 2012

Posted: 04 Apr 2012 03:32 AM PDT

In continuation of earlier announcement dated January 5, 2012, it is hereby informed that due to the closure of Banks on account of yearly closing and subsequent public holidays on 5th April, 2012 (Mahavir Jayanti) and 6th April, 2012 (Good Friday),...

S.80HHC – DEPB credit falls under s. 28 (iiib) & DEPB premium falls under Section S.28(iiid)

Posted: 04 Apr 2012 12:19 AM PDT

The decision of Bombay High Court in the case of Kalpataru Colours & Chemicals (supra) has been set aside and reversed by the Supreme Court in their decision dated 8.02.2012 in the case of Topman Exports Vs. Commissioner of Income Tax, Mumbai...

Sub sections (2) & (3) of S.14A workable only wef date of introduction of Rule 8D

Posted: 04 Apr 2012 12:10 AM PDT

Section 14A were introduced with prospective effect from the assessment year 2007-08 onwards. However, sub-section (2) of Section 14A remained an empty shell until the introduction of Rule 8D on 24.03.2008 which gave content to the expression "such...

CBDT Objects To UN Model DTA Agreement 2011

Posted: 03 Apr 2012 10:42 PM PDT

In response to the 2011 update of the UN Model Convention which was launched on 15.3.2012, the CBDT has addressed a letter dated 12th March 2012 in which it has registered its objections to the provisions in the UN Model Convention. In particular,...

ICAI extends Last Date for Empanelment of Observers for May 2012 CA Exam

Posted: 03 Apr 2012 09:25 PM PDT

The last date for receipt of application for Empanelment for Observers for Chartered Accountants Main Examinations scheduled to be held from 2nd to 17th May, 2012 and CPT on 17th June, 2012 has been extended upto 11th April, 2012 (Wednesday).

Authorised Dealer Category II – Can open only one Nostro account for each currency

Posted: 03 Apr 2012 09:22 PM PDT

A. P. (DIR Series) Circular No. 104 To ensure greater flexibility in sending remittances, it has now also been decided to allow Authorised Dealers Category-II to open Nostro accounts subject to following terms and conditions: i) Only one Nostro...

FM to inaugurate Direct Taxes Regional Training Institute complex, Bangalore on 8th April

Posted: 03 Apr 2012 09:22 PM PDT

Honorable Finance Minister, Sh. Pranab Mukherjee will inaugurate the Direct Taxes Regional Training Institute complex, Bangalore on 8th April 2012.

Attention Students -Appearing June, 2012 session of CS examinations

Posted: 03 Apr 2012 09:12 PM PDT

All students appearing in June, 2012 session of CS examinations are hereby informed that detailed particulars of their examination form ( including their photograph and signature) have been uploaded on institute's website All students...

Hazardous Waste (Management, Handling and Transboundary Movement) Rules, 2008, issued under the Environment (Protection) Act, 1986 (29 of 1986)

Posted: 03 Apr 2012 09:02 PM PDT

Notification No.31/2012-Customs (N.T.) Central Government, being satisfied that it is necessary so to do for the purpose of the protection of human, animal, plant life and health, hereby prohibits import into India and export out of India of...

Exposure Draft of General Purpose Financial Reporting XBRL Taxonomy Based on Revised Schedule VI for Commercial and Industrial Companies

Posted: 03 Apr 2012 08:49 PM PDT

With the new reporting format, the taxonomy also needed to undergo a change. Accordingly, the new taxonomy, based on the Revised Schedule VI requirements, for the Commercial & Industrial (C&I) companies has been developed by ICAI. The new...

No comments:

Post a Comment