May 31, 2011

POWER OF THE OFFICERS OF CUSTOM IN INDIA

Custom department has revised the power of the officers of custom department in India. Custom issued a circular no. 24 dated 31 May 2011 reg...

India Sign DTAA with Tanzania and Ethopia

India has signed DTAA Double taxation avoidance agreement with Tanzania and Ethopia. Double tax aviod agreement is the deal between two coun...

May 30, 2011

Extension of Anti-Dumping Duty By Custom

Custom department has extended the scope of anti dumping duty on some of import as it is causing loss to the domestic products as well as co...

May 29, 2011

SUBMIT PAN NO FOR APPLYING FOR DEBIT CARD OR BUY JEWELLERY ABOVE 5 LAKHS

Income tax department issue a circular about submitting of PAN number in some more transactions which is now mandatory. The transactions are...

May 28, 2011

GUIDELINES FOR INSURANCE BUSINESS

Reserve Bank of India issue some guidelines for insurance business. RBI issue guidelines under circular number 11 dated 27-05-2011 which tel...

May 27, 2011

Bank Will Compensate for Non Solving ATM Transaction Failure in 7 Days

Banks will compensate for non solving ATM transaction and recredit the account within 7 days. The compensate will be 100 Rs per day from the...

May 26, 2011

NO LOAN AGAINST IDR-RBI

Reserve Bank of India has issued a circular about loans and advance against the Indian Depositorty receipts. RBI gives the clear instruction...

RBI NOTIFICATION ABOUT CHARGE OF SECURITY DEPOSIT OVER PROPERTY

Reserve Bank of India has issued a circular no. 73 dated 26-05-11 about setting up centralised electronic registry and enforcement of securi...

AGRICULTURE PRODUCTS IN TERMS OF SERVICE TAX

Service tax department issued a circular no. 143 dated 26-05-2011 about processing for client in relation to agriculture products. In this c...

May 23, 2011

ESIC AND PF CALCULATOR AND DUE DATES

One need to deposit the money in the accounts of ESIC and PF every month. In a firm where the ESIC and PF are on, it is must to deposit th...

May 22, 2011

TDS Collection on Transfer of License of Toll plaza Mines or Quarry

Every person who grants a lease or license or enter into a contract or otherwise transfers any right or interest in whole or in part of any ...

May 21, 2011

IPO HEDGING ALLOWED TO FII UNDER ASBA SCHEME-RBI

Hedging of the IPO is permitted to the foreign institutional investor by Reserve Bank of India. This hedging must be done under ASBA(Amount ...

May 20, 2011

IPO CAN BE SUBSCRIBED AT DISCOUNTED PRICES BY RETAIL INVESTORS-SEBI

-Good news for retail investor who invest their money in the primary share market, IPOs. Now the retail investor can apply for the Initial p...

May 19, 2011

RBI CIRCULAR ABOUT INCREASING THE RATES OF NON PERFORMING ASSETS AND RESTRUCTURED ADVANCE

Reserve Bank of India has increased the rates of provisioning of enhancement of non performing assets and restructured advance. RBI increase...

DGFT AMENDS IN PROCEDURE OF TARIFF RATE QUOTA SCHEME

Directorate general of foreign trade department has made some amendments in procedure of tariff rate quota scheme. This is public notice no....

May 18, 2011

EXCISE DUTY EXEMPTION ON PIPES

Central excise department has exempted excise duty on the manufacturing of pipes. Excise department issued a circular number 945 dated 16 ma...

DEDUCTOR CAN DIGITAL SIGN FORM 16 A CBDT CIRCULAR

CBDT issued a circular no. 3/2011 dated 13-05-2011 stating that in the form 16 for TDS certifictates, the deductor can digital sign the form...

May 17, 2011

HOW TO DO E-PAYMENT OF SERVICE TAX AND CENTRAL EXCISE

Most of us know about central excise and service tax. But the service providers as well as the manufactures need to pay service tax and the ...

RBI GUIDELINES FOR FOREIGN EXCHANGE AND HEDGING

Reserve Bank of India has issued guidelines for over the counter foreign exchange derivatives and overseas hedging of commodity prices and f...

May 15, 2011

HOW TO SAVE PETROL IN CARS AND BIKES

Petrol prices are increased to Rs. 5/litre on Saturday which will take effect from Sunday, May 15, 2011. Oil companies are saying that this ...

May 14, 2011

CIT ADDRESS FOR FORM 16 AND 16A

CIT(TDS) address are required to fill form 16 and 16a. But where to search the CIT(Commissioner of Income Tax) TDS address of all over india...

May 13, 2011

GREEN CHANNEL COUNTER SCHEME BY STATE BANK OF INDIA

State Bank of india has decided to expand it's scheme green channel counter in which no paperwork is needed to do the banking. No paper ...

May 12, 2011

PROVISION OF THE SERVICE TAX ACT

Service tax department issued a circular about all the provision of the service tax act 1994. with the circular no. 140 dated 12-05-2011 ser...

May 11, 2011

TECHNICAL REPORTS OF CUSTOM AND CENTRAL EXCISE

Central excise department has issued a notification about the monthly technical data of custom,service tax and central excise. According to ...

May 10, 2011

NEW RETURN PREPARATION UTILITY RPU 2.4 FOR TDS/TCS STATEMENT

 Tin.nsdl has launched a new return preparation utility RPU 2.4 for e-TDS/TCS statements. This RPU will work for consolidated statements fo...

May 9, 2011

RBI INCREASES THE LIMIT OF HOUSING LOAN ON PRIORITY BASIS

Reserve bank of india issued a circular about loan priority of housing loans. In this circular RBI said that any housing loan under or or 20...

May 8, 2011

UPLOAD THE INFORMATION ON SITE BEFORE BUYING OR SELLING GOODS IN PUNJAB

Punjab government issued a circular about the changes in VAT rules. Now any dealer buying or selling the goods above Rs. 20000 needs to uplo...

RBI CIRCULAR ABOUT IMPORT OF DIAMONDS

Reserve bank of India has issued a circular about foreign exchange management act 1999 guidelines for importing of cuts,polished or rough di...

May 7, 2011

COMPARISION BETWEEN INCOME TAX FORMS SAHAJ AND SARAL

As you know a new income tax form called SAHAJ replaced SARAL income tax form from the financial year 2011-12 for filing the income tax retu...

May 6, 2011

SERVICE TAX ON SUB-CONTRACTOR

Service tax department issue a circular about the service tax on sub contractor. This is the matter of court and the judgement arrives on 14...

May 5, 2011

KASHMIR THE HEAVEN ON EARTH

KASHMIR KASHMIR:   - People says it “The Heaven on the Earth”. It’s not only because it’s a old saying or the world has changed a...

May 4, 2011

INSTRUCTIONS ON PROJECT IMPORT OF CUSTOM IN INDIA

Custom department has issued a circular no. 22/2011 dated 04-05-2011 about the project import. Custom department has issue some instructions...

RBI HAS INCREASED THE RATE OF INTEREST ON SAVING ACCOUNT

Good news for all the saving account holder. Reserve bank of India has increased the rate of interest on the saving account. Rate of interes...

INCREASE IN THE LIMIT OF MOBILE BANKING IN INDIA

We hear about mobile banking, but many of us don't know the features as well as how to use mobile banking as we don't feel any requi...

RBI GUIDELINES FOR PREPAID INSTRUMENTS IN INDIA

Reserve Bank of India has issued guidelines for the operation of prepaid instruments use in india with a circular number 512 dated 04-05-201...

May 3, 2011

ANNUAL MONETARY POLICY FOR 2011-12 RESERVE BANK OF INDIA

RBI has announced annual monetary policy for the financial year 2011-12. In this monetary policy RBI has increased the repo rates by 50 basi...

RBI INCREASES THE REPO RATE BY 50 BASIS POINT

Reserve Bank of India has increased the repo rate by 50 basis points on 3 May 2011 with a circular No. 58 dated 2 May 2011. This increment i...

PRINTING INSTRUCTIONS FOR SUGAM AND SAHAJ FORMS

Income tax department has issued two new forms name as SUGAM and SAHAJ. These forms are for ITR1 for SAHAJ and ITR 4S for SUGAM. Income tax ...

May 2, 2011

EXCISE CHANGES AND CLARIFICATION OF CENVAT CREDIT RULES

Central excise department has made some changes as well as giving clarification about changes in the cenvat credit rules. The main changes i...