Raise personal income tax exemption to Rs 3 lakh, cut corporate tax to 25 %

Raise personal income tax exemption to Rs 3 lakh, cut corporate tax to 25 % Posted: 04 Dec 2012 06:03 PM PST Raise personal income tax exemption limit to Rs 3 lakh, reduce service tax and excise tax to eight per cent from 12 per cent and increase deduction of interest on housing loan to 5 lakh to revive consumer demand and boost investment, ASSOCHAM said in its pre-Budget recommendations to the... All about Cost Audit and Compliance Report Posted: 04 Dec 2012 08:18 AM PST Ministry of Corporate Affairs have come out with a number of circulars and notifications in the recent times relating to maintenance of Cost Accounting Records and Cost Audit. These circulars and notifications have not only brought remarkable changes in the applicability of cost accounting and... Special Scheme for Tax Savings, Investments Posted: 04 Dec 2012 07:07 AM PST Government of India has recently notified on 23rd November, 2011, Rajiv Gandhi Equity Savings Scheme (RGESS), 2012 for new retail investors (as announced in this year's budget ) whereby investment made in RGESS shall allow investor for claiming deduction under new section 80 CCG of Income Tax Act... An Overview of Energy Sector in India Posted: 04 Dec 2012 06:35 AM PST CA Rajkumar S. Adukia Energy is derived from the Greek work 'energia' and is referred to as a scalar physical quantity that is a property of objects and systems which is conserved by nature. Energy is often defined as the ability to work. Energy is an important building block in human... Summary of MCA notifications issued on 30th Nov 2012 related to cost accounting records Posted: 03 Dec 2012 09:40 PM PST 1. The General Circular No 18/2012 dated 26th July 2012 said that the cost auditors & the companies shall file their cost audit report & compliance report in XBRL mode for the FY 11-12 onwards and that the reports submission dates have been postponed to 31st Dec 2012. Arbitral reference in respect of a claim which is made subject-matter of a creditor's winding up petition would not operate as a bar on winding up proceedings Posted: 03 Dec 2012 08:50 PM PST  There is no dispute as to the claim of the petitioning creditor against the company. The claim is founded on dishonored cheques and even the primary basis of the claim stands admitted. The company did not reply to the statutory notice and has not indicated anything that would make the debt... Secured creditor entitled to disbursement despite not participating in winding up proceedings Posted: 03 Dec 2012 07:38 PM PST Neither section 529 nor section 529A of the Act mandate that to claim priority and preferential payment under section 529A the secured creditors must join winding up and cannot stand outside the winding up and/or it must relinquish its security. Prima Facie Maintenance services of common area in Mall liable to service tax Posted: 03 Dec 2012 07:32 PM PST Prima facie, the argument of ld. advocate that no tax is payable on the ground that the maintenance was being done on behalf of the appellants themselves and that it was not a service rendered to the individual shop keepers is not tenable. If they were doing maintenance for themselves, there would... Regarding imposition of definitive anti-dumping duty on imports of digital offset printing plates Posted: 02 Dec 2012 05:08 PM PST Notification No. 51/2012-Customs(ADD), New Delhi, the 3rd December, 2012            G.S.R.    (E). –   Whereas in the matter of import of Digital Offset Printing Plates (hereinafter referred to as the subject goods), originating in or exported from the Peoples' Republic of China (China PR) and... Cost Accounting Records (Pharmaceutical Industry) Amendment Rules, 2012 Posted: 01 Dec 2012 08:06 PM PST Cost Accounting Records (Pharmaceutical Industry) Amendment Rules, 2012 – amendment in rule 2 and form – A Notification NO. G.S.R. 863(E), dated 30-11-2012 In exercise of the powers conferred by clause (b) of sub-section (1) of section 642 read with clause (d) of sub-section (1) of... Companies (Cost Accounting Records) Amendment Rules, 2012 Posted: 01 Dec 2012 08:04 PM PST Companies (Cost Accounting Records) Amendment Rules, 2012 – Amendment in rule 2 and substitution of form – A Notification NO. G.S.R. 862(E), dated 30-11-2012 In exercise of the powers conferred by clause (b) of sub-section (1) of section 642 read with clause (d) of sub-section (1) of... Cost Accounting Records (Fertilizer Industry) Amendment Rules, 2012 Posted: 01 Dec 2012 08:03 PM PST Cost Accounting Records (Fertilizer Industry) Amendment Rules, 2012 – AMENDMENT IN RULE 2 AND SUBSTITUTION OF FORM – A Notification NO. G.S.R. 864(E), dated 30-11-2012 In exercise of the powers conferred by clause (b) of sub-section (1) of section 642 read with clause (d) of sub-section... Companies (Cost Audit Report) Amendment Rules, 2012 Posted: 01 Dec 2012 05:56 PM PST Companies (Cost Audit Report) Amendment Rules, 2012 – Amendment in rule 2 and substitution of form-I Notification NO. G.S.R. 861(E), dated 30-11-2012 In exercise of the powers conferred by clause (b) of sub-section (1) of section 642 read with sub-section (4) of section 233B, and sub-section...