Jan 31, 2014

Raise in LIC premium for deduction u/s 80C

Raising the limit of percentage of eligible premium for life insurance policies of persons with disability or disease Under the provis...

Custom Duty drawback rates of all industries effective from 21-09-2013

Custom department issued a circular no. 3/2014 dated 30 January 2014 about duty drawback rates of all industries with effect from 21 Novem...

Old PAN application procedure continue as new procedure on hold

The CBDT has decided to keep in abeyance the decision to change the procedure for PAN allotment till further orders. Accordingly the opera...

Jan 24, 2014

PAN applicant need to prove original documents for verification

The income tax department issued a press release dated 24 January 2013 regarding new PAN card apply procedure. As per new norms for PAN ca...

Online filing correctness to TDS statement is available on TRACES

 In our continuous endeavor to enrich end-user experience, we are glad to bring to you the convenience of online facility of filing correc...

Jan 21, 2014

Wife has full right to know husband salary

 Wives of the government servants use a 'right' to know salary particulars in their husbands and this review should also be genera...

Service tax clarification on CENVAT credit against VCES scheme

Service tax department issued a clarification on CEVAT credit against VCES scheme with a circular no. 176/02/2014 dated 20 January 2014. F...

Jan 20, 2014

No TDS on service tax paid on rent u/s 194I income tax circular

The income tax department has issued a circular no. 1/2014 dated 13 January 2014 regarding clarification of is TDS applicable on service t...

Valid seaport airport and inland container depot for import and export

Custom department issued a notification no. 1/2014 dated 17 January 2014 about valid seaport, airport, inland container depot and Land cus...

Jan 18, 2014

Labour Ministry is working on minimum 1000 Rs. pension for EPFO subscibers

The  labour ministry will probably soon approach the Cabinet for any minimum pension connected with Rs 1, 000 each month for the subscribe...

Jan 17, 2014

Permanent Provident fund account number will come in 2014-15

Permanent provident deposit (PF) account variety, which will help over five crore EPFO members to reduce the process connected with transf...

Number of subsidised LPG gas cylinders increased to 12

Using Congress leader Rahul Gandhi on Friday demanding a hike in cover on subsidised food preparation gas cylinders (LPG), PM Manmohan Sin...

CBDT directs to issue certificate of lower deduction of TDS form on time

CBDT directs to issue certificate of lower deduction or non deduction of tax at source under section 197 of income tax act 1961 with instr...

Jan 16, 2014

Excise department can reject price determination if goods are sold less than cost for a long period

Subject – Implementation  of decision of Hon’ble Supreme Court in case of M/s Fiat India ltd – reg .  Attention is invited to the judg...

Jan 15, 2014

Loan EMI Tenure and rate of interest calculator in excel

Loan is the common thing what we mostly know and be a part of it in anyway like car loan,personal loan, cash credit etc. Loan is the am...

Pension regulator tightens rules to cut back delay in deposits

The Pension Fund Regulating and Development Authority (PFRDA) has tightened rules for adding contributions by different central and state ...

Jan 14, 2014

New income tax rules-dent in the salary

Like yearly, the Central Board of Direct Taxes (CBDT) updated their annual circular associated with withholding taxes through salary payme...

Jan 13, 2014

Interest rate on PF is 8.75% for 2013-14

Pension fund body EPFO on Monday thought we would increase the interest rates on Provident Account deposits to 8. 75 % for 2013-14, a move...

Jan 10, 2014

NRI can be joint account holder in saving account of resident Indian

Reserve bank of India liberalize the rules of joint account holder with a circular no. 87 dated 9 January 2013. Now the NRI(Non resident I...

Custom classifies of transmission shafts and power takeoff shafts

Custom department issued a classification of transmission shafts and power take off shafts in the HS harmonised custom tariff with a circu...

Jan 9, 2014

Abolishing Income tax possible but need home work- Experts

There is a demand arose by one of Dharamguru Mr. Ramdev to abolish income tax and insert some banking transaction tax for nap corruption a...

HDFC bank offer saving account with unlimited ATM transaction

HDFC bank offers a saving account named savingMax account with which you can do unlimited numbers of ATM transaction with HDFC bank ATM or...

Direct tax collection up 12.33% for 9 months April-December

Gross direct tax series rose 12. 33 per cent to Rs four. 81 lakh crore through the first nine months with this financial year. One on ...

Jan 8, 2014

Education cess and secondary and higher education cess are not applicable on other cesses

Central excise department issued a clarification with circular no. 978/2/2014 dated 7 January 2014 regarding whether education cess and se...

Jan 7, 2014

Banks want to cap ATM visit 5 per month

Reserve bank of India guides banks to employ proper security guards at ATMs for the safety of the people. There are so much incidents( lat...

New RPU 3.8 and FVU 4.1 for TDS statements FY 2013-14

Tin.nsdl has launched new return preparation utility RPU 3.8 and file validation utility FVU 4.1 for e-TDS statements for financial year 2...

Jan 6, 2014

Excise duty exemption is available for another 10 years for old units did expansion in J&K

Central excise department issued a clarification regarding availability of excise duty exemption to old units did expansion in the state o...