Posted Date : 11-Jul-2012 , 04:42:02 pm | Posted By CA ISHA MARFATIA

KYC checking: For New account 1)      Name of the account holder 2)      Type of a/c saving/current/time/advance 3)      A/c no 4)      A copy of verified Identity proof 5)&...

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Category : Auditing | Comments : 7 | Hits : 14698

Posted Date : 11-Jul-2012 , 02:51:21 pm | Posted By Deepak Tanwar

    SECTION Nature of Failure/Default Authority who can levy penalty Quantum of Penalty SECTION 158BFA(2) ...

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Category : Income Tax | Comments : 0 | Hits : 1026

Posted Date : 11-Jul-2012 , 01:51:42 pm | Posted By CS Shilpi Bhardwaj

  Input Tax Credit - Reversal/Reduction Friends, I feel that we have been committing error of having more confidence in others than ourselves, and rather than doing little exercise oneself, we depend on certain selected ones to teach us what the law is, that can be the only cause, ...

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Category : General | Comments : 0 | Hits : 980

Posted Date : 11-Jul-2012 , 01:45:07 pm | Posted By CS Shilpi Bhardwaj

  Corporate accounting reporting and ethics need for CAs Introduction   All around us there is this talk of lack of ethics, corruption, inability of a normal Citizen to get justice in time, so on and so forth. The biggest irony is that the  normal  citizen wh...

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Category : General | Comments : 0 | Hits : 416

Posted Date : 11-Jul-2012 , 09:08:26 am | Posted By Deepak Tanwar

Dear All,   After budget 2012, there is lot of confusion as to frequency of filing of  Service Tax Return. Budget 2012 Presented by Finance Minister on 17.03.2012  proposed that the cycles for the payment service tax and filing of return should coincide.  In View ...

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Category : Service Tax | Comments : 2 | Hits : 2732

Posted Date : 10-Jul-2012 , 09:09:59 am | Posted By Deepak Tanwar

Dear All,   Step 1: Make sure you have received an intimation under section 143 (1) from CPC Bangalore for the E-returns filed by you for AY 2009-10 or later.   Step 2: Carefully examine the intimation to see if the computation by CPC i...

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Category : Income Tax | Comments : 0 | Hits : 985

Posted Date : 09-Jul-2012 , 01:24:52 pm | Posted By Vikash Kumar Jha

5 things you should never share on Facebook    Almost every user likes to share everything on their Facebook page but certain updates can lead to criticism, embarrassment and even job termination. So here's a shortlist of what you shouldn't share on the social networ...

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Category : General | Comments : 0 | Hits : 624

Posted Date : 09-Jul-2012 , 12:17:14 pm | Posted By Deepak Tanwar

Finance Act 2012 has inserted a new section 80 CCG, This will be applicable for the A.Y. 2013-14.   Following conditions must be fulfilled to claim this deduction:   i. The gross total income of the assessee for the relevant Assessment Year should not exceed Rs. 10,00,00...

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Category : Income Tax | Comments : 2 | Hits : 1233

Posted Date : 08-Jul-2012 , 01:29:38 am | Posted By Rahul Bhardwaj

                                              CREDIT RATING   Credit Rating has assumed an important place in the modern and developed financial markets. It fac...

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Category : Finance | Comments : 0 | Hits : 1483

Posted Date : 07-Jul-2012 , 09:50:04 am | Posted By Deepak Tanwar

Dear All,   For most  of the people  ‘tax savings’ brings to mind LIC, PPF, NSC, and equity-linked savings scheme, among others, that qualify for tax deduction under Section 80 C of the Income-Tax Act. An individual can claim tax deductions of up to Rs 1 lakh un...

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Category : Income Tax | Comments : 0 | Hits : 1172

Posted Date : 06-Jul-2012 , 03:22:48 pm | Posted By Vikash Kumar Jha

TAXATION OF CERTAIN TRANSACTIONS WITHOUT CONSIDERATION OR FOR INADEQUATE CONSIDERATION [Clauses 3, 20, 21, 33 OF THE BILL]            Under the existing provisions of section 56(2)(vii), any sum of money or any proper...

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Category : Income Tax | Comments : 0 | Hits : 1532

Posted Date : 06-Jul-2012 , 01:21:18 pm | Posted By Surendra Kumar Dash

Far Reaching Amendments to Transfer Pricing Provisions The following amendments are proposed to the Transfer Pricing provisions, which would have far reaching implications, not only on cross-border transactions between Associated Enterprises, but also on large value transactions between d...

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Category : Income Tax | Comments : 0 | Hits : 618

Posted Date : 06-Jul-2012 , 01:20:01 pm | Posted By Surendra Kumar Dash

Expansion of definition of ‘related parties’ for domestic transactions Section 40A (2) (a) provides for disallowance of expenditure/part of expenditure payable/paid to related party‘in domestic transactions, considered by the as excess or unreasonable having regard to the f...

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Category : Income Tax | Comments : 0 | Hits : 957

Posted Date : 05-Jul-2012 , 09:20:57 am | Posted By Deepak Tanwar

How to Know the Name of Person we are having PAN Number?  How to Verify PAN for Free? How to know of person as on his PAN Card? As we all know Income Tax Act has provided that TDS to be deducted @ 20% if a person do not provide his PAN. Sometimes person provides his P...

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Category : Income Tax | Comments : 2 | Hits : 5146

Posted Date : 04-Jul-2012 , 03:42:46 pm | Posted By Vikash Kumar Jha

Buying a house is a dream cherished by millions of people in our country. But financially speaking, investing Lakhs of hard-earned money in a house requires a through house-hunting exercise. In this article, my efforts to present some important pointers which ones should keep i...

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Category : Finance | Comments : 0 | Hits : 1032

Posted Date : 03-Jul-2012 , 03:24:38 pm | Posted By Deepak Tanwar

Gratuity:- Gratuity’ is a retirement benefit. Gratuity Act, 1972 act envisages in providing retirement benefit to the workman who have rendered long and unblemished service to the employer. Gratuity is a reward for long and meritorious servi...

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Category : Income Tax | Comments : 0 | Hits : 1248

Posted Date : 03-Jul-2012 , 09:37:32 am | Posted By Deepak Tanwar

TDS Rates / Chart Under Income Tax Act, 1961 for Financial Year 2012-12/ Assessment Year 2013-14 on Salary(Section 192) ,  Interest on Specified & Other Securities (Section 193), Deemed Dividend & Other Dividend , Interest other than interest on security, Winning from Lotteries, Winn...

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Category : Income Tax | Comments : 0 | Hits : 3201

Posted Date : 02-Jul-2012 , 04:52:57 pm | Posted By Shalini Goyal

  ABC LIMITED Questionnaire 1)      Details of the Multinational Group in which assessee enterprise operates along with name, address, legal status and country of tax residence of each of the enterprises comprised in the group. 2)   &nb...

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Category : International Business | Comments : 0 | Hits : 2634

Posted Date : 02-Jul-2012 , 02:27:38 pm | Posted By Vikash Kumar Jha

While starting out on a business endeavour, following a set of rules is crucial for finding success. Without proper rules a business can go spiralling down and without taking too long at it. Following are golden rules that will ensure your success in business. Map it out Map where you...

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Category : Finance | Comments : 0 | Hits : 1328

Posted Date : 02-Jul-2012 , 02:26:56 pm | Posted By Surendra Kumar Dash

LIFE IS SAME 20 Years Back. 1. School bag. 2. Lepakshi note book. 3. Hero Ranger. 4. Half Pants. 5. Playing with plastic car running on battery and remote. 6. Scared of Teachers and exams. 7. Wanting to be class topper. 8. Quarterly exams. 9. Annual School Magazine. 10. An...

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Category : Students Zone | Comments : 0 | Hits : 477