Revised Rates of Profession Tax in Andhra Pradesh No Profession Tax on salaries less than 15,000/- (earlier applicable from Salary of Rs.5,000/- onwards). There are only two taxable slabs salaries between 15,001/- to 20,000/- PT Rs.150/- PM and salaries above Rs.20,000/- PT Rs.200/- PM.  Two INDIAN women have applied to Guinness World Records for lowest salary in world World's lowest paid workers: Indian cleaners get just £64 after 40 YEARS of scrubbing toilets without a day off (and they've never had a pay rise!) For more than 40 years they've toiled away, meticulously scrubbing and cleaning toilets in southern India However, astonishingly, two...  |
Companies Bill 2012 – An overview CA Punkaj Jain OUTLINE Background of Companies Bill, 2012 Definition Audit & Auditors Penal provisions Loans and Investments Directors, KMP's and Governance Corporate Social Responsibility Regulatory bodies (NCLT, NFRA, SFIO) Mergers and Acquisitions Other key issues Way forward FLASH BACK WHY...  |
Cut Down The Meals To Save Taxes?? Cascading Effect Really Out Of the Picture?? Monisha Jain The posh restaurants these days have a highly priced menu for the varieties of cuisines offered by them. These high prices are a symbol of their quality and taste standards, and this is what they try to project. But how far is that true??? Let's assess it. While the middle class...  |
Excel GAR-7 Service Tax Payment Challan (Revised) with database facility This excel base GAR-7 Challan for payment of service tax is latest Based on circular no 165/16/2012 ( restoring Specific Accounting Codes). It has facility of building and saving assessee database to avoid repetitive work. It has built in check for Wrong Assessee Code Structure. Totally menu...  |
CBDT notifies Functions of electoral trusts & Audit Report Form No. 10BC FORM NO. 10BC [See rule 17CA] Audit report under (sub-rule (12) of rule 17CA) of the Income-tax Rules, 1962, in the case of an electoral trust. Rule 17CA. Functions of electoral trusts. (1) The functions of an electoral trust referred to in section 13B shall be as provided in this rule.  |
ICSI to accept Old prospectus / Registration up to 22nd Feb 2013 It has come to institute's notice that some students who had purchased old registration form earlier are coming to institute's HQ/Regional Council/Chapter to deposit the same now. Please note that as a special case, in the larger interest of student community, such students are allowed to submit...  |
Bangladesh Cabinet nod for amendment in DTA Convention with India; to aid IT info exchange The Bangladesh cabinet has approved an amendment proposal on the existing Double Taxation Avoidance Convention with India for the exchange of income tax related information. The amendment was approved at weekly meeting of the cabinet chaired by Bangladesh Prime Minister Sheikh Hasina at the...  |
Exemptions to prohibition on export of edible oils notified on 19.10.2012 Export of edible oils was initially prohibited for a period of one year with effect from 17.03.2008 vide Notification No. 85 dated 17.03.2008 which was extended from time to time. Vide Notification No. 24(RE-2012)/2009-14 dated 19th October 2012, prohibition on export of edible oil has been...  |
Amendment in Gold Deposit Scheme to to bring privately held stock of gold in circulation The Central Government, with a view to bringing privately held stock of gold in circulation, reduce the country's reliance on import of gold and providing its owners with some income apart from freeing them from the problems of storage, movement and security of gold in their possession, had...  |
CAS – 15 Cost Accounting Standard on Selling and Distribution Overheads CAS – 15 COST ACCOUNTING STANDARD ON SELLING AND DISTRIBUTION OVERHEADS The following is the COST ACCOUNTING STANDARD -15 (CAS-15) issued by the Council of The Institute of Cost Accountants of India on "SELLING AND DISTRIBUTION OVERHEADS". In this standard, the standard portions...  |
FM asks Customs and Central Excise officers to take Advantage of Technological Advance The Finance Minister Shri P.Chidambaram exhorted the officers of Customs and Central Excise to make every effort to achieve the budgetary target for the collection of indirect taxes for the financial year 2012-13.  |
Small Retailer's Strategy after FDI in Multi Brand Retail After passing of 51% FDI in multi- brand retail in Lok Sabha, many big foreign players in retail sector have got the entry to extend their business operations in one of the world's largest consumption driven economy. The big Indian players can give the competition to foreign players because of its...  |
Draft Policy on Units in Special Economic Zones (SEZs) carrying on recycling of plastic scrap or waste I am directed to circulate a Draft policy on Units in Special Economic Zones (SEZs) carrying on recycling of plastic scrap or waste and invite comments/suggestions on the same in order to finalize the Policy on Plastic Recycling Units in SEZs.  |
Deemed Export Benefits for supply of goods to Mega Power Projects – DGFT Clarifies As per amendment referred in para 2, benefit of zero duty import is available only for such Mega Power Project, specified in List 32A, appended to Notification No.49/2012-Customs, so certified by an officer, not below the rank of Joint Secretary to the Government of India, in the Ministry of Power...  |
DGFT – Value added agricultural products exempted from Export restrictions/ban Export of above processed and/or value added agricultural products will be exempted from any restriction / ban even in the event of restriction / ban on the export of basic farm produce.  |
Requirements of Reconstruction Scheme revised for Listed Companies & Stock Exchanges The existing Clause 24(f) of the Listing Agreement mandates that a listed company shall file any scheme/petition, proposed to be filed before any Court or Tribunal under sections 391, 394 and 101 of the Companies Act, 1956, with the stock exchange, for approval, at least a month before it is...  |
Individuals of Bangladesh need not to take prior approval of RBI for opening an NRO Rupee account Opening of accounts by individual/s of Bangladesh nationality may be allowed by authorised dealer or authorised bank, subject to satisfying itself that the individual/s hold a valid visa and valid residential permit issued by Foreigner Registration Office (FRO)/ Foreigner Regional Registration...  |