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 of the first financial year (if you opt for the loan in the third year).If you opt for a loan in the fourth year, the second year’s balance will be taken…
Details[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 pursuance of section 5 of the Public Provident Fund Act, 1968 (23 of 1968) the Central Government hereby notifies that the subscriptions made to the…
DetailsAny 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 bank business shall issue form no. 16A generated through TIN central system and which is with unique TDS certificate number. A deductor other than the…
DetailsMany 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 a Kolkata based Software and Web Development Company namely Saltlake Info solutions Private Limited. The link is given below. http://www.saltlakesoft.com/www/index.php?option=com_content&task=view&id=32&Itemid=92 The Key Features of Apex XBRL…
DetailsSection 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 undergone change w.r.t book profits Reduction allowed w.r.t profits eligible for deduction u/s 80HHC Reduction allowed w.r.t profits eligible for deduction u/s 80HHE Reduction allowed…
DetailsMany 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 payments were made. This is a contentious issue as the property does not actually come into physical existence unless the possession letter is given to…
DetailsCAG 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 CAG at www.cag.gov.in. Further, physical documents along with online acknowledgement has to be filed before 28th February, 2012. The status of the firm for the…
DetailsService 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 of subcontractor Work Contract Services for Infrastructure Project like Road, Airport, Dam, Tunnels etc. which are exempt from levy of service tax. The service tax…
DetailsNSDL 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 a paid software is much better than using free RPU as it is easier to create returns and there is less number of errors after…
DetailsCurrently, 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 of the firm i.e. in case a firm goes bankrupt then the personal properties of the partners can be utilised for fulfiling the liabilities of…
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