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May 3, 2013

CBDT notifies ITR for A.Y. 2013-14 / FY 2012-13

Revised Income Tax Rule 12 related to ITR for A.Y. 2013-14

Posted: 03 May 2013 08:57 PM PDT

Revised Income Tax Rule 12 as amended by Income Tax Notification No. 34/2013 dated 01.05.2013. Revised rule specifies the rules Related to ITR for A.Y. 2013-14. Rule Specifies the Applicable ITR for Different class of Assessee and mode of Return Filing. Revised Rule is as follows :-  [Return of...

Download ITR-1 SAHAJ, ITR 2, ITR 3, SUGAM (ITR-4S), ITR-4, ITR 5 for A.Y. 2013-14

Posted: 03 May 2013 08:35 PM PDT

We have uploaded below ITR 1- Sahaj, ITR 2, ITR 3, ITR-4, SUGAM (ITR-4S), ITR 5,   applicable for Assessment year 2013-14 and Financial Year 2012-13. Popular key words - ITR   Excel Format, ITR for A.Y. 2013-14, ITR for F.Y. 2012-13, ITR for Assessment year 2013-14, ITR for Financial year 2012-13,...

CBDT notifies ITR for A.Y. 2013-14 / FY 2012-13

Posted: 03 May 2013 08:35 PM PDT

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:— 1. (1) These rules may be called the Income-tax (3rd Amendment) Rules, 2013.

ITR Online Filing – With or Without Digital Signature – A.Y. 2013-14

Posted: 03 May 2013 08:34 PM PDT

In this article we are discussing which ITR should be filed online with Digital Signature Mandatorily and for which only ITR online Filing   is although mandatory but filing with Digital Signature is not mandatory. A Return can normally be filed / furnished in following modes :-  (i)  furnishing...

Which ITR should be used & by whom for A.Y. 2013-14?

Posted: 03 May 2013 08:30 PM PDT

In the below article we will discuss the Applicability of ITR 1 ,2,3, 4, 4S for Assessment year 2013-14 i.e. FY 2012-13. In other words which ITR is applicable to whom for A.Y. 2013-14. APPLICABILITY OF ITR-1 FOR ASSESSMENT YEAR 2013-14 /FINANCIAL YEAR 2012-13 1.   Who can use this Return Form This...

Revised Statutory Audit Report Format for F.Y. 2012-13

Posted: 03 May 2013 08:25 PM PDT

We have audited the accompanying financial statements of _________________ (the Company), which comprise the Balance Sheet as at 31st March , 2013, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended, and a summary of the significant accounting policies and other...

Service tax on Takeaway Eating Joints

Posted: 03 May 2013 11:30 AM PDT

Prior to 01.04.2013, service tax was leviable on restaurants satisfying two conditions namely (i) the facility of air-conditioning or central heating in any part of the establishment, at any point of time during the year, and (ii) a license to serve alcoholic beverages. With effect from 01.04.2013,...

Mandatory e-filing of Income Tax Return AY 2013-14 for Whom?

Posted: 03 May 2013 10:07 AM PDT

Mandatory e-filing of return if income exceeds Rs. 5,00,000 or assessee claims relief U/s. 90, 90A or 91 CBDT has vide notification No. 34/2013 dated 01.05.2013 has made it mandatory for the following category of the Assesses to file their Income Tax Return Online from A.Y. 2013-14 :- (a)  It is...

Tax Audit, Transfer pricing Audit & S.115JB Report to be filed online from A.Y. 2013-14

Posted: 03 May 2013 09:54 AM PDT

CBDT has vide Notification No. NOTIFICATION NO. 34/2013, DATED 1-5-2013 provided that where an assessee is required to furnish a report of audit under sections 44AB, 92E or 115JB of the Act, he shall furnish the same electronically.  Online filing of following audit reports shall be mandatory in...

Resolve Arrears Demand Grievances In Transparent Manner – CBDT

Posted: 03 May 2013 03:40 AM PDT

The demand uploaded by AO's on the CPC Portal together with demand in IRLA is way short of the total demand reported in CAP-I. And the demands uploaded, are sometimes incorrect or non-existent leading to grievances and causing aberrations in projection of total collection figures.

Procedure for Shifting Of Registered Office from One State to another State under Companies Act

Posted: 03 May 2013 01:36 AM PDT

Now shifting of registered office from one State to another State under the Companies Act, 1956, requires a petition to be filed with Regional Director, Ministry of Corporate Affairs with effect from 12-08-2012 and earlier the same was required to be made to Company Law Board. The procedure for...

Director's Liability under the Companies Act, 1956

Posted: 03 May 2013 01:17 AM PDT

CS Kiran Mukadam, ACS, M.Com, SET Hercules Hoists Limited, Mumbai Since the emergence of various corporate scandals in India over the past few years, there has been much attention and debate on the role of Company's Directors. There has been a lot of focus on independent Directors. A Director must...

Monetary Policy Statement 2013-14- RBI cuts repo rate by 0.25%, CRR unchanged

Posted: 02 May 2013 11:27 PM PDT

Based on an assessment of the current and prospective macroeconomic situation, we have decided to reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 7.5 per cent to 7.25 per cent.

Check MVAT Return periodicity for FY 2013-14

Posted: 02 May 2013 10:43 PM PDT

Department of Sales Tax, Maharashtra State has displayed the return periodicity for the FY 2013-14 on their website. Enter your VAT TIN No. in the first box with ending V and click SEARCH. After result is displayed, click on the TIN No. appearing below.  To check your periodicity, visit...

Clause 49- Corporate Governance

Posted: 02 May 2013 09:37 PM PDT

The Board of directors of the company shall have an optimum combination of executive and non-executive directors with not less than fifty percent of the board of directors comprising of non-executive directors.

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