PPF Annual Investment Limit raised to Rs. 1,00,000 from Rs. 70,000
The Finance Ministry vide its latest rules have notified an increased limit for Public Provident Fund or PPF Accounts as they are generally known from Rs. 70,000 p.a. to Rs….
Service Tax Credit allowed on Mobile Phone used for Business Purpose
It has been recently held by Honorable CESTAT, that credit of service tax is allowed on mobile phones used for business purposes. Earlier, credit of service tax on mobile bills…
Avail loan against PPF after the expiry of one year from the end of the year in which the initial subscription was made
How Much You can get? You can take a loan from the third year of opening your account to the sixth year.Also, the loan amount will be upto a maximum of 25% of the balance in your account at the end…
Interest Rate on PPF increased to 8.60 percent w.e.f. 01.12.2011
[TO BE PUBLISHED IN THE GAZETTE OF INDIA: EXTRAORDINARY, PART II-SEC. 3 (i)] MINISTRY OF FINANCE New Delhi, the 25th November, 2011 (Department of Economic Affairs) NOTIFICATION S.O. (E).– In…
Companies, Banks now required to issue Form 16A TDS Certificates Online Only
Any TDS deducted on or after April 2011 by a deductor, which is a company or a banking company or any bank or banking Institution or a cooperative society doing…
XBRL free software
Many companies is charging from Sixty to thirty thousand for one year for Xbrl Software. Now you can download its free. ‘Apex Xbrl Maker Free Edition’ and it is developed by…
Amendments in Minimum Alternative Tax (MAT)
Section 115JB, which provides for minimum alteration tax, has been prescribed at a rate of 18.5% and this will be affective from 1st April 2012 The computation mechanism has also…
Benefit of Indexation based on Payments made and the date of Allotment of Under Construction Builder Flat
Many of us face the problem of calculation of capital gain on sale of property which was purchased from builder in installments or otherwise and was under construction when the…
Empanelment of CA Firms with CAG for FY 2012-13 from 1st January to 15th February
CAG Empanelment for CA Firms for FY 2012-13 will begin from 1st January, 2012 till 15th February, 2012. The empanelment form has to be filled online on the website of…
Work Contract Services by Sub-Contractor for Infrastructure Project Exempt from Service Tax
Service Tax Department has issued a fresh notification No. 147/16/2011 dated 21st Oct, 2011 in clarification of Circular No. 138/07/2011 – Service Tax dated 06.05.2011 on the subject of taxability…
New RPU v 2.6 from NSDL for preparation of TDS returns
NSDL has launched new Return Preparation Utility (RPU) v 2.6 for preparation of TDS returns. This is the free version for preparation of TDS returns, however, in our experience using…
ICAI now allows conversion of CA Firms to LLPs
Currently, majority of CA firms in India are organised as partnership, where the the liability of the partners is unlimited and they are jointly and severally liable for the debts…