Custom department has revised the power of the officers of custom department in India. Custom issued a circular no. 24 dated 31 May 2011 regarding the power of custom officers. Powers of commisssioner, ADJ,AC,DC and other officers also revised as well as the amount of power of custom which is as follows.
Nitin Aggarwal | 1:02 PM | 0 comments
India has signed DTAA Double taxation avoidance agreement with Tanzania and Ethopia. Double tax aviod agreement is the deal between two countries by which the tax payer need to pay income tax to one country of which it dues, and by showing the certificates of income tax paid, the second country can not ask to repay the income tax. Some transactions are like this in which one works part time to different country or work in home country to the foreign country. In such cases the Double taxation avoid agreement works.
Nitin Aggarwal | 10:50 PM | 0 comments
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 company. Custom department hass issued a circular no. 44 date 27-05-2011 regarding the anti dumping duty scope. The main features of anti dumping duty are as follows.
- Custom department will impose anti dumping duty on the goods which are imported as less value compare to the original value of the product/
Full circular is as under.
Nitin Aggarwal | 12:43 PM | 0 comments
Income tax department issue a circular about submitting of PAN number in some more transactions which is now mandatory. The transactions are as follows.
1- Applying for debit or credit card.
2- Buying jewelery above 5 lakhs.
Labels: INCOME TAX
Nitin Aggarwal | 10:55 PM | 0 comments
Reserve Bank of India issue some guidelines for insurance business. RBI issue guidelines under circular number 11 dated 27-05-2011 which tells the insurance companies as well as agreement betwwen the insurance company and the insured person. Full circular is as under.
Nitin Aggarwal | 6:31 PM | 0 comments
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 7th day of receipting the complaint. RBI issued a circular about failure of ATM transactions and reduce the timings of solving the ATM transaction failure. The main points of this circular are as under.
Nitin Aggarwal | 6:58 PM | 0 comments
Reserve Bank of India has issued a circular about loans and advance against the Indian Depositorty receipts. RBI gives the clear instruction about loans on IDR, as some companies got the approval of loans against IDR but now no company will get the permission to get the approval of loans against IDR. Full notification is as under.
Nitin Aggarwal | 6:53 PM | 0 comments
Reserve Bank of India has issued a circular no. 73 dated 26-05-11 about setting up centralised electronic registry and enforcement of security interest. Full Notification is as under.
Nitin Aggarwal | 6:45 PM | 0 comments
Service tax department issued a circular no. 143 dated 26-05-2011 about processing for client in relation to agriculture products. In this circular service tax department classifies the agriculture products. Full circular is as under.
Labels: SERVICE TAX
Nitin Aggarwal | 9:46 PM | 0 comments
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 the money on time because in ESIC, the interest and penalty rate is very much high. So there is a complete list to when and where the money need to be deposited.
Also to calculate the money of ESIC and PF is a complex job. SO there is an excel based calculator which will work so easily for you
Labels: EXCEL CALCULATOR
Nitin Aggarwal | 3:24 PM | 0 comments
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 parking lot or toll plaza or mine or quarry to another person, other than a public sector company, is liable to collect tax at source for the use of parking lot or toll plaza or quarry for the purpose of business.
Nitin Aggarwal | 8:38 PM | 0 comments
Hedging of the IPO is permitted to the foreign institutional investor by Reserve Bank of India. This hedging must be done under ASBA(Amount supported by block amount) scheme. FII can do this hedging in the foreign currency also. Full notification is as under.
Nitin Aggarwal | 5:46 PM | 0 comments
-Good news for retail investor who invest their money in the primary share market, IPOs. Now the retail investor can apply for the Initial public offer of any company on the amount after deducting the discount, company is offering to the retail investor. This circular of the SEBI is May 16 and retail investor can apply at discounted price of any IPO giving the retailer discount after 16th of May.
Nitin Aggarwal | 5:33 PM | 0 comments
Reserve Bank of India has increased the rates of provisioning of enhancement of non performing assets and restructured advance. RBI increased the rates of provision with the circular number 529 dated 18-05-2011. RBI increased the margin of provision to the non performing assets like sub standerd advance of which the provision is increased to 15% from 10%. This is also the part of the monetary policy, RBI issued in the earlier part of May, 2011. Full circular is as under.
Nitin Aggarwal | 5:19 PM | 0 comments
Directorate general of foreign trade department has made some amendments in procedure of tariff rate quota scheme. This is public notice no. 47 of dgft dated 18-05-2011. Full circular is as under.
Nitin Aggarwal | 6:16 PM | 0 comments
Central excise department has exempted excise duty on the manufacturing of pipes. Excise department issued a circular number 945 dated 16 may 2011 about the benefits of excise exemption of pipes. The main reason for this exemption is pipe is required to take the water one place to other and water is the necessity of life. Full circular is as under.
Nitin Aggarwal | 4:12 PM | 0 comments
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 forms. This step is taken due to seeing that some deductors needs to sign a lot of forms 16 and form 16a manually. It is very time consuming as well as hard job. So from the financial year 2011-12, the deductor of the TDS can digital sign on the forms. Full circular is as under.
Nitin Aggarwal | 9:17 PM | 0 comments
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 central excise on the service or the goods manufactured. But now a days, all the payments need to pay electronically which is difficult for the simple man who does not know about e-payment. This is the procedure of how to pay service tax and excise electronically. One need to have the net banking facility to e-payment to the government in any department, so apply today for net banking with transactions right to pay electronically to the government.
Nitin Aggarwal | 9:00 PM | 0 comments
Reserve Bank of India has issued guidelines for over the counter foreign exchange derivatives and overseas hedging of commodity prices and fright risks. RBI issued complete guidelines for these risks to beware the common man not to face any problem in the foreign transactions. This is RBI circular no. 60 dated 16 may 2011 published on RBI website.
Nitin Aggarwal | 1:58 PM | 0 comments
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 is not enough and they are also planning to a second shock to the common man by increasing the second term in petrol prices. Well, this is not in our hands, but what we can do is to save the oil and save the money from the increased prices. There are some tips from which one can save the oil in the cars as well as bikes and scooter. It includes getting more mileage from the vehicle and implementing these tips will surely save the money and petrol.
Labels: HOW TO
Nitin Aggarwal | 12:48 PM | 0 comments
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. Without filling the CIT(TDS) address the form 16 as well form 16A is incomplete. So i search all over place and then found address of CIT(TDS) address which required in filling of form 16 and 16A.
Nitin Aggarwal | 10:14 PM | 0 comments
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 will be used to deposit, withdrawal or even transfer the money from one account to other. Only one need is to an ATM card or debit card attached to the account with which one can do all the transaction without the paper and the pen.
Nitin Aggarwal | 9:16 PM | 0 comments
CHALLAN 280- this challan is used for depositing self assessment tax,advance tax and tax demand on regular assessment. So this challan is important as well as in regular use for assessment.
Challan 281-this challan is used to deposit TDS( Tax Deduction at Source). So it’s also very useful too.
Challan 282-this challan is used for depositing STT (Securities Transaction Tax), Hotel tax, interest tax, wealth tax, estate duty etc. So this challan is also important and useful in daily routine work.
Challan 283- this challan is for depositing Fringe Benefit Tax and BCTT.
This is very good created income tax challan form in excel absolutely free. This has the following facility.
Nitin Aggarwal | 9:00 PM | 0 comments
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 service tax department has issued all the provisions as well as clarifications about the service tax. full circular is as under:
Nitin Aggarwal | 9:53 PM | 0 comments
Central excise department has issued a notification about the monthly technical data of custom,service tax and central excise. According to notification number 944 dated 10-05-2011 of the central excise the monthly technical data is as under.
Nitin Aggarwal | 10:06 PM | 0 comments
Tin.nsdl has launched a new return preparation utility RPU 2.4 for e-TDS/TCS statements. This RPU will work for consolidated statements for preparation as well as correction statements from the financial year 2005-06 and onwards. The features of this new RPU 2.4 are as follows.
Nitin Aggarwal | 10:46 PM | 0 comments
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 lakh rupees for hosing come under the priority sector, of which the loan will be given on priority basis. RBI has increased this priority limit to 25 lakhs from the 20 lakh earlier/ Full notification of the reserve Bank of India is as under.
Nitin Aggarwal | 1:33 PM | 0 comments
Punjab government issued a circular about the changes in VAT rules. Now any dealer buying or selling the goods above Rs. 20000 needs to upload all the information on the government website before make moving to the vehicle. It would increases the cost of the dealers as well as headache. The format in which all the details to be furnished will be launch by the state government soon. Some goods are exempt from this rules which are as under.
Nitin Aggarwal | 12:51 PM | 0 comments
Reserve bank of India has issued a circular about foreign exchange management act 1999 guidelines for importing of cuts,polished or rough diamonds. All the financial need as well as procedure is told in this circular number 59 dated 06-05-2011 of the Reserve Bank of India. Full circular is as under.
Nitin Aggarwal | 10:23 PM | 0 comments
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 return of ITR-1. Earlier ITR1 is to be filled in the form SARAL which is replaced by a colorful presentation form SAHAJ which is better in many aspects from SARAL. Like in sahaj there is a facility of mention PAN number on all the pages, instructions are given of every page, there is a large combo type boxes on all pages and much more. So there is a comparison of sahaj and saral which will tell boh forms quality and which one is better.
Nitin Aggarwal | 6:08 PM | 0 comments
Service tax department issue a circular about the service tax on sub contractor. This is the matter of court and the judgement arrives on 14-02-2011, in which it is cleared that on which work, the service tax on sub contractor is exempt and on which work the service tax on sub contractor levies.
Full circular of service tax is as under.
Nitin Aggarwal | 9:46 AM | 0 comments
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 lot as it has more destinations to enjoy travel like Malaysia, Switzerland, Australia, New Zealand, Ireland & many more. But Kashmir is still the same (almost) as we look it in 90’s.But it attracts many foreigners & Indians for it’s beauty. The natural beauty you’ll get in Kashmir you can’t find it any other palace.
Terrorism spoils the travel industry in Kashmir from the early 90’s to 2004 but now there is no threat any of the palaces and a peace wave is there.
Palaces to visit in Kashmir
Nitin Aggarwal | 6:47 PM | 0 comments
Custom department has issued a circular no. 22/2011 dated 04-05-2011 about the project import. Custom department has issue some instructions as well as the forms to apply and do the project import in india. Full notification and instructions are as follows.
Nitin Aggarwal | 6:42 PM | 0 comments
Good news for all the saving account holder. Reserve bank of India has increased the rate of interest on the saving account. Rate of interest on all the banks saving account was 3.5% per annum has increased to 4% per annum. This will increase the interest amount to the account of saving holder. Earlier RBI also gave the facility of interest on saving account on daily basis and not on quarterly basis. Full notification is as under.
Nitin Aggarwal | 6:35 PM | 0 comments
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 requirement. But if we use it, mobile banking is very fast and useful.
What is Mobile Banking-Mobile banking is the type of using our account in bank to do the transaction. It may include transfer of funds,checking the account balance,request for check book, hot-listing of lost debit or credit cards, know the status of check etc.
So Reserve bank of india has increased the limit of transaction of mobile banking and issue guidelines on 04-05-2011 about the mobile banking as mobile banking users are trend to grow.These guidelines are as under.
Nitin Aggarwal | 6:23 PM | 0 comments
Reserve Bank of India has issued guidelines for the operation of prepaid instruments use in india with a circular number 512 dated 04-05-2011. In this guideline by Reserve Bank of India, there is a complete summary of the maximum value use and end process.
What is prepaid instruments:- These instruments are the a type of money by which one can purchase goods and service against the money stored in it. The prepaid instruments may be many types like.
Nitin Aggarwal | 7:31 PM | 0 comments
RBI has announced annual monetary policy for the financial year 2011-12. In this monetary policy RBI has increased the repo rates by 50 basis points and make some steps to tackle the terrorism and anti funding. This monetary policy has been issued on 2 May 2011 with a circular no 58 which will being a law with immediate effect. Full monetary policy can be seen in this screen.
Nitin Aggarwal | 6:23 PM | 0 comments
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 in the repo rate will take will immediate effect. This is the part of Reserve bank of India RBI annual monetary policy to make adjustment of the liquidity in the market. Full circular is as under.
Nitin Aggarwal | 9:26 AM | 0 comments
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 department also issued some printing instruction of these forms as after applying these instructions only, these forms will be accepted. The printing instructions of sahaj and sugam forms are as under.
Nitin Aggarwal | 6:30 PM | 0 comments
Central excise department has made some changes as well as giving clarification about changes in the cenvat credit rules. The main changes in the cenvat creit rules are being in rules at the end of financial year 31 march 2011. But Central Excise department also further made changes and give clarification about the modvat rules of central excise with notification number 943 dated 29 April 2011.
Popular This Month
Popular This Week
80c deduction aadhar card advance tax ALL ABOUT all about huf all about iec number all about permanent account number ALL ABOUT SERVICE TAX ALL ABOUT TDS ATM banking BUDGET capital gains central excise CESS clubbing of income CRICKET custom notification dearness allowance depreciation dgft double taxation avoidance agreement DTC DTC coming to india e-tds intermediary ELECTIONS ETDS SOFTWARE EXCEL CALCULATOR EXCISE CIRCULAR excise notification file extension fvu finance bill fixed deposit FOREIGN TRADE FORM 16 form 16-16a fuv software form 26as income tax fvu gift and income tax goods and service tax in india GRATUITY LIMIT gst coming to india gst registration gst tax in india HOME LOAN house rent allowance HOW TO import export code number income tax act income tax deduction income tax deductions under 80c income tax department emails income tax forms INCOME TAX NOTIFICATION INCOME TAX ON SECOND HOUSE PROPERTY income tax refund income tax return INDUSTRIAL POLICY INSURANCE PLANS INTEREST RATES ipo KASHMIR mediclaim policy MUTUAL FUND NEW RETURN PREPARATION SOFTWARE new tds rates online insurance OPINION POLL PAN PARTNERSHIP LAW POLITICS polypropylene excise duty excemption ppf public provident fund rbi rbi circular on cheques revised dtaa salary salary allowances salary under section 192 sale against f form saving account sbi sebi SERVICE TAX service tax notification SHARE MARKET tan online application tan registration online TAXES ON PREQISITES tcs email TDS tds new circular tds on salary calculator tds on transport contract tds/tcs rules 2010 TRAVEL USEFULNESS WHAT IS