All About Form 24G

The Pay and Accounts Office (PAO)/ District Treasury Office (DTO)/ Cheque Drawing and Disbursing Office (CDDO) are required to file Form 24G as per Income-tax Department Notification no. 41/2010 dated May 31, 2010. In case of an office of the Government, where tax has been paid to the credit of Central Government without the production of a challan associated with deposit of the tax in a bank, the PAO / CDDO / DTO or an equivalent office (herein after called as AO in this document) government is required to file Form 24G

INCOME TAX , income tax forms

Custom Has Imposed Anti Dumping Duty on Caustic Soda

Custom department has imposed anti dumping duty on import of cpartment has imposed caustic soda. Government feels that importing of caustic soda suffers the domestic industry. So custom department has imposed the anti dumping duty on caustic soda. Custom department has issued notification no 79 dated 23-08-2011 about this duty. Full notification is as under.

custom

DIRECT NET COLLECTION DECLINES 8 % FOR FOUR MONTHS

Direct net collection for the four months of the financial year 2011-12 april to july has been declined 8.1% from the previous financial year 2010-11 four months collection. The figures are net to net four months 78679 crore against the previos four month figure 85647 crore.

INCOME TAX

NO BANK GUARANTEE NEEDED FOR EXPORT ORIENTED UNITS

Custom department issued a circular no. 36 dated 12 august 2011 stating that there is no bank guarantee needed for 100% EOU firms. Custom department made amendment to the rule in which bank guarantee is needed for Export oriented firms. Full circular is as under.

custom

NEW SAVING ACCOUNT NAMED SMALL ACCOUNT IN THE BANKS

Reserve Bank of India has started new saving account named small account in the banks. In these accounts there is a limitations of transaction amount in a month as well as in a financial year. The features of these small account are as under.

banking

EXCEL BASED LOAN EMI CALCULATOR LOAN TENURE AND INTEREST RATE CALCULATOR

After a much demand i m presenting a excel based loan emi aswell as loan tenure and interest rate calculator which solves all the problems regarding your loan calculations. The features of this calculators are

EXCEL CALCULATOR

NO CARRY RICE IN AIR TO AMERICA

Carrying rice to america is prohibited either raw or on meal. Custom department issue a circular on this regard. Custom issued a circular no. 34 dated 3-08-2011 about prohibition of carrying rice on flights to america. Full circular is as under.

custom

DD ABOVE 50000 WILL NOT BE MADE AGAINST CASH PAYMENT

RBI issued a circular about demand draft. Circular no. 135 dated 2 august states that no demand draft will be issued above 50000 against cash payment. Demand draft above 50000 will be issued against account only.
Full circular is as under.

rbi , USEFULNESS

E-PAYMENT OF CUSTOM DUTY IS MANDATORY AND PROCEDURE OF E-PAYMENT

Payment of custom duty by e-payment is made mandatory. It means one need to make the payment electronically for the custom duty and no other way. Custom department also issued full procedure for paying custom duty. Custom department issied a circular no. 33/2011 dated 02-08-2011 redarding custom duty payment. Full circular is as under.

custom