Posted Date : 31-May-2013 , 12:06:00 pm | Posted By Gaurav Dhamija

  PENALTY FOR OFFENCES BY DIRECTOR ETC. OF COMPANY  Position prior to Finance Act, 2013 (Prior to 10.05.2013)  None of the aforementioned provisions provide for personal penalty on partners / proprietor of the firm. However, section 77 talks of any person but su...

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Category : Income Tax | Comments : 0 | Hits : 439

Posted Date : 30-May-2013 , 10:40:33 pm | Posted By Vinay Sharma

    Govt has issued guidelines for suo motu disclosure by Central Government Ministries/Departments and Public Authorities thereunder. These guidelines are based on the recommendation of the Task Force set up by the Government for strengthening compliance with provisions for suo mot...

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Category : General | Comments : 0 | Hits : 222

Posted Date : 30-May-2013 , 02:55:17 pm | Posted By Gaurav Dhamija

S 2(15):Charitable purpose-Trade business or commerce-Public utility-Activity of evolving, prescribing, standards Activities cannot be termed as business activity-Exemption was granted. (S.10) (23C).The Bureau of Indian Standards (BIS), a sovereign entity created under the Bureau of Indian Standar...

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Category : Income Tax | Comments : 0 | Hits : 288

Posted Date : 30-May-2013 , 02:38:04 pm | Posted By Gaurav Dhamija

Tax related updates In budgets   ü  Good news for home loan takers. People taking a home loan in 2013-14 for an amount up to Rs 25 lakh will be allowed an additional deduction of Rs 1 lakh. ü  Budget 2013: Home loan borrowers allowed additional deduction of Rs 1 lakh. ...

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Category : Income Tax | Comments : 0 | Hits : 210

Posted Date : 30-May-2013 , 12:46:14 pm | Posted By Gaurav Dhamija

  Q. What is the Date of implementation of Service Tax Voluntary Compliance Encouragement Scheme, 2013 ?   After receiving the assent from President of India to the Finance Bill 2013-14. Q. Scheme to whom it is applicable?      The person who has not paid the ...

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Category : Service Tax | Comments : 0 | Hits : 1733

Posted Date : 30-May-2013 , 10:34:40 am | Posted By Gaurav Dhamija

ECGC Charges Export Credit Guarantee Corporation charges is payable on Packing credit on monthly basis. How To Calculate ECGC Charges:- 1)      1) Calculate total of Per day Closing balance 2) 2)      Calculate Average of per day closing balance 3)...

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Category : General | Comments : 0 | Hits : 503

Posted Date : 30-May-2013 , 09:43:51 am | Posted By Gaurav Dhamija

  Appearance ·        Start buying things that you need MOST. ·        Observe people around you- Then go to store to buy. ·        Matching Sense: SHOE  ...

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Category : Students Zone | Comments : 0 | Hits : 188

Posted Date : 30-May-2013 , 09:43:11 am | Posted By Gaurav Dhamija

CORPORATE PARTIES Manners ·        Never go to people to talk who are in group of TWO-Its not a corporate attitude. (Do Bande baat kar rahe hai unke pass mat jao baat Karne). ·        Take permission first to jo...

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Category : Students Zone | Comments : 0 | Hits : 148

Posted Date : 29-May-2013 , 05:02:41 pm | Posted By Rohit Gattani

Ø  Positive thinking is a mental attitude that anticipates happiness, success and favorable outcomes in every situation or action you do. Ø   The thoughts get registered in your subconscious mind and you start taking action to create favorable change.   Ø&...

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Category : Income Tax | Comments : 0 | Hits : 664

Posted Date : 29-May-2013 , 04:05:06 pm | Posted By Gaurav Dhamija

Important Topics for Advanced Auditing, 1. Appointment of Auditor by Special Resolution: Material date for 25% holding of subscribed share capital 2. Audit of Branch Accounts and Exemption thereto 3. Appointment of Special Auditor u/s 233A and/ vis-à-vis communication under Clause 8 Par...

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Category : Students Zone | Comments : 0 | Hits : 189

Posted Date : 29-May-2013 , 04:04:08 pm | Posted By Gaurav Dhamija

  Section 68 of Finance Act, 1994 • Sec 68 (2) provides legal backing for the levying of Service Tax under reverse charge mechanism. Sec 68 (2) is worded as follows:- - “In respect of such taxable services as may be notified by the Central Government in the Official Gazette, ...

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Category : Service Tax | Comments : 0 | Hits : 8337

Posted Date : 29-May-2013 , 03:54:06 pm | Posted By Gaurav Dhamija

  In case the House Rent Allowance (H.R.A.) is provided then there will be a tax savings (Please refer Valuation sheet for details). The above mentioned savings is mainly because of themethods Income tax act and Rules employs for valuation of taxability of H.R.A a...

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Category : Income Tax | Comments : 0 | Hits : 753

Posted Date : 29-May-2013 , 01:54:23 pm | Posted By Vikash Kumar Jha

5 Steps to Great Time Management Before you learn how to manage the resources of an organization, you must first be learning time management skills for your own life. Time management skills are founded on this principle: If you don't manage your own life, no one else will. Therefore it is essen...

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Category : General | Comments : 0 | Hits : 245

Posted Date : 28-May-2013 , 04:43:36 pm | Posted By Vikash Kumar Jha

The registration of LLP has been made compulsory under the Act. A LLP has to register itself with the Registrar of Companies (“ROC”). Following are the main steps while incorporating a LLP:   1.       LLP requires at least 2 Designated Partners (...

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Category : Corporate Law | Comments : 0 | Hits : 317

Posted Date : 28-May-2013 , 04:19:50 pm | Posted By Manjit Banga

A company secretary is a professional who has been qualified the company secretary course and has been certified by The Institute Of Company Secretaries of India (ICSI). Pursuant to section 383A of the companies Act, 1956, companies with a paid-up share capital of Rs. 5 crore or more are compulsoril...

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Category : Students Zone | Comments : 0 | Hits : 379

Posted Date : 28-May-2013 , 03:11:52 pm | Posted By Vinay Sharma

7 Ways Income Tax Department Is Getting information About You! The Income Tax Department is watching you silently! The detective camera on your action are the provisions under, The Income Tax Act under which data related to your financial transactions are reported by person with whom you transact...

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Category : Income Tax | Comments : 0 | Hits : 2102

Posted Date : 28-May-2013 , 01:13:46 pm | Posted By Vikash Kumar Jha

Benefits Under the Scheme of ESIC       An interesting feature of the ESI Scheme is that the contributions are related to the paying capacity as a fixed percentage of the workers’ wages, whereas, they are provided social security benefits accord...

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Category : Corporate Law | Comments : 0 | Hits : 259

Posted Date : 28-May-2013 , 08:25:02 am | Posted By Anjali Arora

A taxpayer can rectify his income tax return online if there is an apparent mistake in the return already filed. The change can be effected only after the taxpayer has received an order under Section 143(1) from CPC Bangalore for the e-return. Rectification enables correcting the error and...

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

Posted Date : 27-May-2013 , 08:57:13 pm | Posted By Vinay Sharma

Step Wise Formalities For Formation Of A New Company   Persons desirous of forming a Private Limited Company must adhere to the step by step procedure as discussed below: Apply for Directors Identification Number and Digital Signatures, if does not have; Selection of name for the proposed c...

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Category : General | Comments : 0 | Hits : 1611

Posted Date : 27-May-2013 , 03:32:19 pm | Posted By Vinay Sharma

At a restaurant, a cockroach suddenly flew from somewhere and sat on a lady. She started screaming out of fear. With a panic stricken face and trembling voice, she started jumping, with both her hands desperately trying to get rid of the cockroach.   Her reaction was contagious, as everyone i...

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Category : General | Comments : 1 | Hits : 1869