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Showing posts from February, 2013

IndianCAs: UNION BUDGET 2013 [1 Attachment]

[Attachment(s) from Ashwin Nagar included below]Union Bedget 2013.

| Ashwin Nagar | FCA and SAP-Finance & Consolidations |Success is not permanent and failure is not final

__._,_.___ Attachment(s) from Ashwin Nagar 1 of 1 File(s) unionbudget2013total.pdf Reply via web post Reply to sender Reply to group Start a New TopicMessages in this topic () Recent Activity:Visit Your Group Note: All messages posted by members including me on this group are sent in their personal capacity. No official position held anywhere by them have nothing to do with this email group. The group does   not accept any responsibility with regards to accuracy or the mistakes in the material circulated on this group. Please confirm from your independent source before using the information or material posted on this group.
Further, your att…

Last Date to File ST 3 Return July 12 to Sep 12 & Revised Form ST 3

Posted In Service Tax | Notification | No Comments »

Instruction regarding Notification No. 1/2013- Service Tax dated 22-2-2013 which seeks to amend the Service Tax Rules 1994 so as to prescribe the revised return Form ST3 and also stipulate that the last date for filing a return for the period July 2012 to September 2012, is 25th March 2013.
F. No. 137/98/2006-CX-4 ( Part-I), Dated- 22nd February 2013 Subject: Revised Form ST 3
Attention is invited to this office letter dated 28th September 2012 issued from F. No 137//22/2012-Service Tax ( copy of which can be accessed at , wherein it was informed , inter alia, that in the ST- 3 return which was due by 25-10-2012, assessees had to provide data only for the period 1-4-2012 to 30-6-2012 . It was also informed therein that data for the period 1-7-2012 to 30-9-2012 would have to be furnished in a return in a revised format and that the revised format of the return and the last date for filing it would be indicated separately…

Form 26B- TDS Refund

New Form 26B to claim excess TDS deposited by Deductor
Income-tax Rules regarding refund of excess deposit of TDS by deductor has been amended in notification 11/2013 dated 19/02/2013. In this notification deductor can claim refund of excess TDS by filing the return electronically on New Form 26B with digital signature only .New rule 31A(3A) has been inserted under rule 31A. Further Director General of Income Tax Systems has been authorised to set the procedure to claim the refund. New form 26B is provided here under for download.
"Rule 31 A(3A) A claim for refund, for sum paid to the credit of the Central Government under Chapter XVII-B, shall be furnished by the deductor in Form 26B electronically under digital signature in accordance with the procedures, formats and standards specified under sub-rule (5).";
"(5) The Director General of Income-tax (Systems) shall specify the procedures, formats and standards for the purposes of furnishing and verification o…

Changes in TDS Returns

TDS return under digital signature optional, new TDS forms and an insertion of new rule to claim TDS refund

Certain changes are brought by Income-tax (Second Amendment) Rules, 2013 with regard to the compliance to be made in respect of TDS and TCS, namely: 1)All statements to be furnished in Form nos. 24Q, 27Q and 26Q shall be furnished electronically and deductor has an option to furnish it under a digital signature; 2)Deductor can file statement in the new Form 26B to claim refund of the sum paid to the Central Government under Chapter XVII-B, provided: a.The credit of such sum has not been claimed by the deductor; b.No demand is outstanding against deductor 3)Following forms have been substituted: a.Form 15G – Declaration to be given for claiming certain receipts without TDS b.Form 15H - Declaration to be given by an Individual, who is above 60 years of age, for claiming certain receipts without TDS c.Form 16 – Certificate of tax deduction from salary d.Fo…

Statutory Central Auditors of Bank-2012-13

Names of Audit Firms approved for appointment as Statutory Central Auditors in 25 Public Sector Banks for the year 2012-13Allahabad Bank, Kolkata 1 M/s N K Bhargava & Co, New Delhi 2 M/s M C Jain & Co, Kolkata 3 M/s Raghu Nath Rai & Company, New Delhi 4 M/s Khandelwal Kakani & Co, Indore 5 M/s Batliboi & Purohit , Mumbai 6 M/s Sarath & Associates, Hyderabad

Andhra Bank, Hyderabad 1 M/s Umamaheswara Rao & Co, Hyderabad 2 M/s R Subramanian & Company , Chennai 3 M/s Patro & Co, Bhubaneshwar 4 M/s Nataraja Iyer & Co, Hyderabad 5 M/s C R Sagdeo & Co, Nagpur 6 M/s Nag & Associates, Dankuni

Bank of Baroda, Mumbai 1 M/s S K Mittal & Co, New Delhi 3 M/s Ray & Ray, Kolkata 4 M/s N B S & Co, Mumbai 5 M/s Laxminiwas Neeth & Co, Hyderabad 5 M/s Brahmayya & Co, Chennai 6 M/s KASG & Co, Dhanbad

Bank of India, Mumbai 1 M/s Karnavat & Co, Mumbai 2 M/s L. B. Jha & Co, Kolkata 3 M/s S R B & Associates, Bhubaneshwar 4 M/s Sankaran & Krishnan,…

XBRL e-Filing Extended

FILING OF BALANCE SHEET AND PROFIT AND LOSS ACCOUNT INeXTENSIBLE BUSINESS REPORTING LANGUAGE (XBRL) MODE FOR THE FINANCIAL YEAR COMMENCING ON OR AFTER 1-4-2011 GENERAL CIRCULAR NO. 5/2013 [NO. 17/161/2012-CL-V], DATED 12-2-2013 In continuation of the Ministry's General Circular Nos. 16/2012, dated 6-7-2012, 34/2012, dated 25-10-2012, 39/2012, dated 12-12-2012 and 1/2013 on the subject cited above, it is stated that the time limit to file the financial statements in the XBRL mode without any additional fee/penalty has been extended up to 28th February, 2013 or within 30 days from the due date of AGM of the company, whichever is later. All other terms and conditions of the General Circular No. 16/2012, dated 6-7-2012 will remain the same.
Important Notice Ministry of Corporate Affairs acknowledges that services on MCA are not of the fullest satisfaction of the stakeholders for last few days. The Ministry is seized of the matter and taking all necessary steps for smoot…

IndianCAs: Do your firm need article students?

Hi Members,
To help the newly qualified CA students who have passed their IPCC to get them article ship I have taken a new initiative. A portal to get the requirements from the members for articles and at the same time registering requirements from articles. This will help CA firms finding articles and articles students finding CA firms.
If you need CA articles, please register at the following link and we will send you the resumes of everyone who applies for this position.
For CA firms to register:

For CA students to register:
Needless to say, this is a free service to the members and students...
Thanks and best regards,
| Ashwin Nagar | FCA and SAP-Finance & Consolidations |
Success is not permanent and failure is not final

__._,_.___ Reply via web post Reply to sender Reply to group Start a New TopicMessages in this topic ()��������…

INSTRUCTION NO. 2/2013 [F. NO. 316/01/2013-OT], DATED 5-2-2013

INSTRUCTION NO. 2/2013 [F. NO. 316/01/2013-OT], DATED 5-2-2013 In supersession to CBDTInstruction No. 1857 issued on 19-9-1990videF. No. 316/22/1989-OT for auction of properties purchased under Chapter XX-C of the Income-tax Act, 1961, comprehensive instructions on the modalities of fixing the reserve price for auction of properties acquired under Chapter XX-C are as under :   i.  The reserve price of the property is to be fixed with reference to fair market value of the property.  ii.  For obtaining the fair market value of the property, the acquired property be referred to Valuation Cell of the Department. Valuation Cell shall submit a Detailed Valuation Report to the Appropriate Authority. iii.  This detailed valuation report should take into account comparative market analysis by qu…

Report on Tax Audit

Reporting CBDT on Membership Misuse We had received the data on tax audit reports e-filed during 2011-12 to ascertain the misuse of membership numbers. Consequently, we recently submitted the details of fake and deceased memberships to the CBDT for appropriate action. We have reported that 652 membership numbers quoted by the assessees in e-returns do not subsist at all. Also, 2,503 tax audits  have been conducted using the fake membership. 311 out of 652 membership numbers belong to the  deceased who passed away before 31-3-2011. 759 out  of 2,503 tax audits were conducted using the identity  of the deceased members.

Source: President Message-CA Journal-Feb,2013

Zero Tolerance for Malpractice and Corruption in Tax Dept

Zero Tolerance For Malpractice And Corruption In Tax Dept: Revenue Secretary
The Revenue Secretary has issued an Office Memorandum dated 22.01.2013 in which he has expressed concern over the searches/ investigations conducted by the Anti-Corruption branch of the CBI on the officers of the CBDT & CBEC and the complaints alleging misconduct by the officers in their official conduct of duties. He has stated that such incidents erode the confidence of the taxpaying community and the public and should be avoided. The Revenue Secretary has emphasized that there should be "Zero tolerance towards malpractices and corruption" and that senior officers should lead by example. Some suggestions have been given on how to achieve this salutary goal.