MCA extend date of PAN updation in DIN to 29th February, 2012
Ministry of Corporate Affairs has once again extended the date for filing of DIN 4 for updation of PAN in DIN No of directors to 29th February, 2011
Non-Deduction of TDS due to bonafide wrong interpretation of Law is reasonable cause u/s 273B for Non Levy of Penalty u/s 271C
Non-Deduction of TDS due to bonafide wrong interpretation of Law is reasonable cause u/s 273B for Non Levy of Penalty u/s 271C
Trade Advances are not Loans or Advances for deemed dividend u/s 2(22)(e)
The Honorable Delhi High court in its recent judgement held that ‘Trade Advances’ between a company and it’s shareholder (as covered under the definition of section 2(22)(e)) is not in…
Onus of Proof on Income Tax Department of additional compenastion received in case of Sale below Market Price
The onus of proof that income has been concealed in case of sale of property below market price is on the Income Tax Department. The mere fact that the property has been sold at discount / below market price is in itself not sufficient to prove concealment of income unless supported with evidence that consideration received has not been declared.
Consequences of Filing Income Tax Return After Due Date
The due date for filing income tax return for corporate assessees and other assessees who are required to get their accounts audited under Income Tax Act 1961 or under any other law for the time being in…
Know online status of claim under EPF (employee provident fund)
The Employees’ Provident Fund Organisation has launched a facility for online verification of status of the claim under the EPF. The facility can be availed at http://59.180.233.84/homepage_claim_status_new.php The user needs to select his State, the EPF office, Establishment Code, Extension code,…
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…