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May 31, 2013

Acknowledgement by banks at the time of submission of Form 15-G / 15-H

Acknowledgement by banks at the time of submission of Form 15-G / 15-H

Posted: 31 May 2013 08:50 PM PDT

The matter has been examined by us in consultation with Indian Banks' Association (IBA). With a view to protect interest of the depositors and for rendering better customer service, banks are advised to give an acknowledgment at the time of receipt of Form 15-G/15-H. This will help in building a...

Empanelment with Canara bank for Appointment as Concurrent Auditor

Posted: 31 May 2013 08:30 PM PDT

Canara Bank invites applications from the eligible/interested Individuals / Firms / Companies for empanelment as concurrent auditors for conducting concurrent audit in the identified 605 branches / units for the period from 01.07.2012 TO 30.06.2013.

Download United Nations Practical Manual on Transfer Pricing for Developing Countries

Posted: 31 May 2013 07:30 PM PDT

CA Praveen Boda UN releases official version of 'UN Practical Manual on Transfer Pricing for Developing Countries' at New York; Manual was adopted by UN Committee at Geneva session in October 2012;  Manual to help mitigate developing countries' vulnerability to abuse and revenue loss...

Taxation in India- Mockery of IT System ; Why E-filling returns are released so late?

Posted: 31 May 2013 07:17 PM PDT

The E-filling of return both under direct and indirect system is a big relief to the Tax payers and professionals who are working for and on behalf of the tax payers. E-filling of Income tax returns has made the life of Taxpayers and professionals very easy and refunds are coming very fast. The...

Transfers & Postings Of CIT, DCIT/ ACIT – Order No. 92 & 94 of 2013

Posted: 31 May 2013 07:00 PM PDT

CBDT has Vide Order No. 92 of 2013 dated 31.05.2013, ordered the transfer/ posting of several officers in the grade of Chief Commissioner of Income-tax (CIT) with immediate effect. CBDT has Vide Order No. 94 of 2013 dated 31.05.2013 ordered the transfer/ posting of several officers in the grade of...

What to check before making deposits with NBFCs & FAQ

Posted: 31 May 2013 01:43 PM PDT

The Reserve Bank of India has today issued an advisory to members of public urging them to carefully evaluate their investment decisions, including making deposit with NBFCs. The advisory is part of the Frequently Asked Questions (FAQs) issued by the central bank. The FAQs explain in detail the...

CESTAT Enhances Monetary Limits for Single Member Bench

Posted: 31 May 2013 01:35 PM PDT

Consequent to the amendment in Section 129C(4) of the Customs Act 1962, Section 350(3) of the Central Excise Act 1944 and corresponding changes in provisions of the Finance Act 1994 by virtue of Section 86(7) thereof, the Single Member Jurisdiction stands enhanced to Rs. 50 Lacs.

ICAI President's Message – June 2013

Posted: 31 May 2013 12:16 PM PDT

Dear Friends, In the new Companies Bill, 2012, Corporate Social Responsibility (CSR) activities have got prime focus requiring all companies having net worth of  5000 crore or more, or, turnover of  1000 crore or more, or, a net profit of  5 crore or more during any financial year to constitute a...

CBDT announces Rules for notification of agricultural extension projects U/s. 35CCC

Posted: 31 May 2013 12:11 PM PDT

INCOME-TAX (FOURTH AMENDMENT) RULES, 2013 – INSERTION OF RULES 6AAD & 6AAE AND FORM NOS.3C-O & 3CP NOTIFICATION NO. 38/2013[F.NO.142/30/2012-SO(TPL)]/SO 1393(E), DATED 30-5-2013 In exercise of the powers conferred by section 295 read with sub-section (1) of section 35CCC of the...

DGFT – Regarding Amendment in Paragraph 2.1.2 of FTP

Posted: 31 May 2013 11:31 AM PDT

This notification substitutes the updated versions of UN and IAEA documents, namely, INFCIRC/254/Rev.11/Part 1 and INFCIRC/254/Rev.8/Part 2 (IAEA documents), S/2012/947, S/2009/364 and S/2006/853 (UN Security Council documents) and Annex III to UN Security Council resolution 2094 (2013) for the...

Change in Tariff Value of Gold Notified wef 31.05.2013

Posted: 30 May 2013 08:38 PM PDT

Notification No. 57/2013-CUSTOMS (N. T.), New Delhi, the 31st  of May, 2013S. O.  (E).– In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do,...

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