Posted Date : 04-May-2011 , 12:27:25 am | Posted By CA. SANAT PYNE

CHECKLIST FOR APPOINTMENT OF MANAGING DIRECTOR   The following are the steps involved in appointment of Mr. A as Managing Director in a Company who is not an Managing Director in any other Company:   Convene Board Meeting, appoint Mr. A as Additional Director and pas...

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Category : Corporate Law | Comments : 0 | Hits : 4481

Posted Date : 04-May-2011 , 12:26:31 am | Posted By CA. Sachin Data

The Reserve Bank has capped interest rates charged by micro finance institutions from small borrowers at 26 per cent, but opened for MFIs the bank credit line which was curtailed following the crisis faced by the sector in October, 2010. The loan by the banks to MFIs for on-lending to small b...

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Category : Banking | Comments : 0 | Hits : 1053

Posted Date : 04-May-2011 , 12:25:55 am | Posted By CA. SANAT PYNE

FORMATION OF CHARITABLE TRUST A public charitable or religious institution can be formed either as a Trust or as a Society or as a Company registered u/s 25 of the CompaniesAct. It generally takes the form of a trust when it is formed primarily by one or more persons. To form a Societ...

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Category : Income Tax | Comments : 0 | Hits : 1252

Posted Date : 04-May-2011 , 12:24:22 am | Posted By CA. SANAT PYNE

All about Deduction under Section 80G of the Income Tax Act, 1961 for donation   INSPITE of all the contributions made to social causes, there is a huge gap between the demand of money from the needy and the amount donated by philanthropists. This probably, is the reason why the Gov...

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Category : Income Tax | Comments : 0 | Hits : 1787

Posted Date : 03-May-2011 , 07:22:10 am | Posted By Ravindr Bhandari

Five popular ways for better living GEM THERAPY THE GEM STONES ARE A PERENIAL SOURCE OF SPECIFIC RAYS WHICH RADIATE FROM THEM FOR SEVERAL YEARS. PEOPLE SUFFERING FROM HEALTH PROBLEMS OR MISFORTUNES CAN WEAR DIFFERENT GEM STONES TO COUNTER THE MALEFIC INFLUENCE OF CERTAIN PLANETS IN A...

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Category : General | Comments : 0 | Hits : 678

Posted Date : 03-May-2011 , 03:56:11 am | Posted By CA. SANAT PYNE

Background for Section 80C of the Income Tax Act (India) / What are eligible investments for Section 80C: Section 80C replaced the existing Section 88 with more or less the same investment mix available in Section 88.  The new section 80C has become effective w.e.f. 1st April, 2006. ...

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Category : Income Tax | Comments : 0 | Hits : 871

Posted Date : 03-May-2011 , 03:53:12 am | Posted By CA. SANAT PYNE

What are the new challans for the payment of Direct Taxes? The following new single copy challans have been introduced with effect from July 2005:                   ...

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Category : Income Tax | Comments : 0 | Hits : 1379

Posted Date : 03-May-2011 , 01:28:07 am | Posted By Anmol Rana

  [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY,  PART II, SECTION3, SUB-SECTION (ii)]    GOVERNMENT OF INDIA  Ministry of Corporate Affairs  NOTIFICATION                     ...

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Category : Corporate Law | Comments : 0 | Hits : 1206

Posted Date : 30-Apr-2011 , 10:42:11 pm | Posted By Sahil Rastogi

Guidelines for reporting TDS transactions not exceeding / exceeding threshold limit in quarterly TDS statements (as issued by Directorate of Income Tax - Systems).   Below guidelines may be referred, if deductor wishes to report the transaction in the quart...

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Category : Income Tax | Comments : 0 | Hits : 1707

Posted Date : 29-Apr-2011 , 04:34:22 am | Posted By Sahil Rastogi

Capital gains arising on sale of two residential houses invested in two residential houses-Eligibility for exemption The assessee owned two flats. The first flat was sold by the assesses for a sum of Rs. 1,01,00,000 and the second Flat had been sold for a sum of Rs. 97,...

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Category : Income Tax | Comments : 0 | Hits : 1161

Posted Date : 28-Apr-2011 , 11:52:42 am | Posted By May I Help You.

A junior manager, a senior manager and their boss are on their way to a meeting. On their way through a park, they come across a wonder lamp. They rub the lamp and a ghost appears.   The ghost says, "Normally, one is granted three wishes but as you are three, I will allow one ...

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Category : General | Comments : 5 | Hits : 1247

Posted Date : 28-Apr-2011 , 11:16:54 am | Posted By AMIT BAJAJ

ITO vs United Marine Academy(Mumbai ITAT)   Brief Facts: The assessee sold an office building for Rs. 49.43 lakhs. As the WDV of the said building was also Rs. 49.43 lakhs, no STCG was offered to tax. The AO held that as the stamp duty valuation of the building was Rs. 76.49 lakhs, t...

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Category : Income Tax | Comments : 0 | Hits : 1086

Posted Date : 28-Apr-2011 , 04:49:13 am | Posted By Sahil Rastogi

  Document delilvery by electronic mode_A relief through the Green Initiative   Finally, as a move to relieve the Corporate of huge financial burden of sending physical documents such as notices etc. by Registered Post instead of Under Posting Certificates after it being dis...

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Category : Corporate Law | Comments : 0 | Hits : 868

Posted Date : 27-Apr-2011 , 07:54:09 am | Posted By

Recently CBEC issued number of Notifications to amend various provisions. Gist of the Amendment is given below: All the changes in old services and new services will become applicable from 1st May 2011. (Notification No 29/2011) Fresh Exemption is provided to (Notificat...

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Category : Service Tax | Comments : 0 | Hits : 5240

Posted Date : 27-Apr-2011 , 05:25:52 am | Posted By CA Mordhwaj Garg

Penal provision of Late filling of TDS return 100.00 rs. per day or TDS amount which is lower. but in the present practice most of the assessee not filled TDS return properly & within the time prescribed by the Income Tax department. As per new sec. introduced by govt. TDS applicable is &...

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Category : Income Tax | Comments : 0 | Hits : 824

Posted Date : 27-Apr-2011 , 05:05:40 am | Posted By CA Mordhwaj Garg

Return Form 27EQ for TCS                                                                             &...

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Category : Income Tax | Comments : 0 | Hits : 1464

Posted Date : 27-Apr-2011 , 03:10:53 am | Posted By Sahil Rastogi

  Changes in ETDS FOR Q4 EFILING 31.03.2011 Ø     New FVU ver. 3.1 (F.Y. 2010-11 onwards) & ver. 2.130 (Upto F.Y. 2009-10) released by NSDL. Ø     New Flag “Y” may be selected in the field of ‘R...

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Category : Income Tax | Comments : 0 | Hits : 919

Posted Date : 26-Apr-2011 , 03:18:51 am | Posted By Vikas

You excelled in the interview, you've been offered the job, and now you're down to negotiating the deal... But how do you make sure you secure the best deal for you? A few tips: Know your worth You may have an idea of what you are worth based on anecdotal inf...

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Category : Students Zone | Comments : 0 | Hits : 545

Posted Date : 26-Apr-2011 , 03:15:25 am | Posted By Vikas

Do you wonder that despite a good resume why you haven't landed a good job? Most likely the problem lies with you and not with your resume. It's not always that your resume gets you the dream job. It also depends how well you manage the interview part, especially the 'toug...

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Category : Students Zone | Comments : 0 | Hits : 984

Posted Date : 26-Apr-2011 , 02:44:29 am | Posted By CA. MANISH MALHOTRA

We all aware and concious about  health. A healthy citizen contributes to the making of a healthy nation.  But above this a true line- A person can do nothing if his body and mind not healty. We professionals work hard for in many ways- 1. To learn. ...

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Category : General | Comments : 0 | Hits : 622