Nov 28, 2011

LEAVE SALARY CALCULATOR

The employees gets some numbers of leaves either 1 or 2 per months as leaves. If the employee doesn't take these leaves, they are accumu...

Nov 27, 2011

GIFT WHICH ARE EXEMPTED FROM INCOME TAX

Gifts which are in cash or in kind, which are exempted are very few. The list of exempted gifts from relatives or any other conditions are a...

Nov 26, 2011

Custom has imposed Anti Dumping duty on opal glassware

Custom department has imposed anti dumping duty on opal glassware wide notification no. 103/2011 dated 23-11-2011. Full notification is as u...

Nov 25, 2011

SECTION 40A 2 OF INCOME TAX ACT

Where an assessee incurs any expenditure in respect of which payment has been made is to be made to any relative of the assessee or any spec...

Nov 23, 2011

Cheque validity is reduced to 3 months from the date of issue

Reserve bank of India has reduced the validity of banking instrument cheque validity to 3 months from the date of issue. Earlier the validi...

Nov 17, 2011

Liberalization of procedure to set off export receivable against import payable

Reserve Bank of India has liberalized the rules of set off the export receivable against import payable. This will generally help the export...

Nov 15, 2011

New RPU version 2.6

Tin.nsdl has launched latest Return preparation utility for E-tds/tcs. The new RPU version 2.6 has been launched. This will help in preparin...

RBI increases ceiling rate on export credit in foreign currency

Reserve bank of India has increased ceiling rate on export credit in foreign currency by banks to LIBOR plus 350 basis points from the previ...

Nov 11, 2011

Clearance of goods from custom bonded warehouse utilizing duty credit strips

Custom department has issued a circular about clearance of goods from custom bonded warehouse utilizing duty credit strip of SFIS,FMS,VKGUY,...

Nov 10, 2011

1% Interest subvention scheme on housing loan is extended upto 31 March 2012

Reserve Bank of India has extended the 1% interest subvention scheme on housing loan upto 31 March 2012. RBI issued a circular about this. C...

Nov 8, 2011

Income tax gross collection up by 20% for April to October

Income tax gross direct collection was up by 20.28% for the April to October. Income tax updates the direct collection of income tax figure ...

Nov 7, 2011

Demand Draft DD above Rupees 20000 will be account payee

Reserve Bank of India issued a notification that Demand Draft DD above rupees 20000 should be account payee and not for transmitting in the ...

Nov 5, 2011

Repayment of fixed deposit FD in banks

Reserve bank of India has issued a circular about repayment of fixed deposit or term deposit. RBI feels that on the repayment of fixed depos...

Nov 4, 2011

Saving account vs. short time fixed deposit

Reserve Bank of India has amended the rule for saving bank account a week ago. Now banks can choose different saving account rate of interes...

Nov 2, 2011

TIN WEBSITE INCREASE THE FEATURES OF REGISTERED TAN ACCOUNTS

Tin.com website has increased the features of registered TAN accounts. Earlier tin.com added the feature of downloading Form 16A online from...

Nov 1, 2011

Income tax form 49A and 49AA for PAN application free download

Income tax department has changed the PAN application form to Form 49A and 49AA. Now these forms are to be filled to apply new Permanent Acc...