Security tips filing taxes online…
It's that time of the year again when you need to file your end of year income tax return, but is the plethora of paperwork bogging you down? The Indian government has just made things easier by launching the facility of filing your income tax returns online.
The advantages of filing your income tax returns online are plentiful. For instance, you can file your returns anytime, anywhere, away from the prying eyes of others and within the confines of your own home.
However, you do need to ensure you protect your personal information online. It is no coincidence that identity theft rate related to tax return filing rises in keeping with the increasing popularity of online tax filing.
With thousands of Indian taxpayers heading online to file their returns in time for the Tax Day deadline, VeriSign, Inc., the trusted provider of Internet infrastructure services for the networked world, is offering five easy-to-follow tips for Indian tax payers to protect themselves.
2. When you go to file your taxes, make sure you've reached the correct site. One easy way is to look for a green address bar that indicates that the Web site is authentic.
3. Make sure you're entering your personal information in a secured session by looking for https:// A Web address beginning with "https" means that that there is an encrypted connection between your browser and the Web site's server, indicating that your communications are secure and cannot be intercepted.
4. When you finish your taxes, be sure you've logged out of your session. If you don't log out, fraudsters can potentially log in to your session after you leave the site.
With these simple precautions, you can file your taxes online with confidence.
30 July 2009
28 July 2009
Amendments to Finance (No.2) Bill, 2009
List No. 3
FINANCE (No. 2), BILL, 2009
(As Introduced in Lok Sabha)
Notice of Amendments
Dated : July 24, 2009Srawana 2, 1931 (Saka)
List No 4
SHRI PRANAB MUKHERJEE:
Vide Amendment list No. 3 circulated on 24.7.2009.
P D T Achary,
Amendments to Finance (No.2) Bill, 2009
26 July 2009
We would like to inform the members, the CPE Credit Requirements for the rolling period of three years starting from the calendar year 2008 as given below:
- All the members who are holding Certificate of Practice (except those members who are residing abroad), unless exempted, are required to:
- Complete at least 90 CPE credit hours in each rolling three-year period of which 60 CPE credit hours should be of structured learning.
- Complete minimum 20 CPE credit hours of structured learning in each year.
- All the members who are not holding Certificate of Practice or are residing abroad (whether holding Certificate of Practice or not), unless exempted, are required to:
- Complete at least 45 CPE credit hours of structured/unstructured learning in each rolling three-year period
- Complete minimum 10 CPE credit hours of structured/unstructured learning in each year.
Important Announcement for Members attaining the age of 60 years or are at present of the age of 60 years and above - 26-05-2008
The Council of the Institute, at its 278th meeting held on May 13-15, 2008, has decided to make the CPE hours requirements mandatory, w.e.f. 15th May 2008, also for the members of the Institute, who are attaining the age of 60 years during a particular calendar year within 2008-2010 or are at present of the age of 60 years and above. Such members could, however, complete their CPE requirements either by structured or unstructured CPE learning activities.
Accordingly, Clause 6.2 (a) of the Statement on Continuing Professional Education, 2003 (as amended in August, 2006), which says that the requirements of this Statement shall not apply to a member who attains the age of 60 years during a particular calendar year, stands deleted.
In view of the fact that the CPE requirements for the members attaining the age of 60 years during a particular calendar year within 2008-2010 or are at present of the age of 60 years and above, are being made mandatory after passing of 4 ½ months in the three-years rolling period starting from the calendar year 2008, the Council has decided to proportionately reduce the CPE requirements for these members for the rolling period of 2008-2010. Hence, the CPE Credit Hours Requirements are as under:
All the members attaining the age of 60 years during a particular calendar year within 2008-2010 or are at present of the age of 60 years and above and holding Certificate of Practice (except those members who are residing abroad), unless exempted, are required to:
· Complete at least 70 CPE credit hours in each rolling three-year period either through structured or unstructured learning.
· Complete minimum 10 CPE Credit hours in the year 2008 and minimum 20 CPE Credit hours in 2009 and 2010.
All the members attaining the age of 60 years during a particular calendar year within 2008-2010 or are at present of the age of 60 years and above and not holding Certificate of Practice or are residing abroad, unless exempted, are required to:
· Complete at least 35 CPE credit hours in each rolling three-year period either through structured or unstructured learning.
· Complete minimum 5 CPE Credit hours in the year 2008 and minimum 10 CPE Credit hours in 2009 and 2010.
The Council has also approved a new CPE Advisory on Unstructured CPE Learning Activities. This Advisory is meant as guidance and direction to the members who want to avail CPE Credits through Unstructured Learning Activities. The advisory includes the details about the unstructured learning activities and the ways in which these can be undertaken. The members are required to submit a Self-Declaration Form to the Institute once in a year to avail the CPE Hours Credit.
25 July 2009
I am a chartered accountant not in practice. I want to know whether i can hang a board containing My name as a chartered accountant and tax consultant on My relative shop.
If Yes, then what size of the board i can use and what information i can write on the board about me.
I have a query regarding the shares issued to the promoter directors of a private limited company. The memorandum has a subscription page wherein the promoter directors declare that they have subscribed to the shares. But as the company does not have a bank account, does this imply that share capital has been bought in cash.
Or is it just an undertaking that they will be subscribing to the shares.
If a Company's net worth is eroded 100% and the auditors have commented in their report that its not a going concern or the going concern concept is questioned,
1) what the Directors should do and how much they will be responsible if there is no willful fraud or action which contributed to the situation?
2) Is the compulsory winding up the last route left for directors?
3) Will the officer in default be also liable? If yes, how and to what extent?
4) if the directors keep the company going even after the audit report, will the directors be liable for continuing trading while insolvent?
Assuming SICA is not applicable.
Waiting for inputs from elite professionals of the group. Your response will be highly appreciated.
23 July 2009
|માહિતી કમિશનરની કચેરી, |
૭/૨, ડો.જીવરાજ મહેતા ભવન,
ગુજરાત રાજય, ગાંધીનગર.
ગુજરાત રાજયનું વર્ષ ૨૦૦૯-૧૦ નું બજેટ વિધાનસભામાં રજુ થયેલ છે. અત્યારે વિભાગવાર તેની ચર્ચા ચાલી રહેલ છે. ત્યારે આપને એક સુજ્ઞ નાગરિક તરીકે આ બજેટની અગત્યની બાબતોનો એક નાનકડો સ્લાઇડ શો મોકલી રહ્યો છું. આપના ફિડબેક મળશે તો અમો આ કોમ્યુનિકેશન (સંદેશા) માધ્યમને વધુ અસરકારક બનાવવા પ્રયત્ન કરીશું.
ગુજરાત રાજય, ગાંધીનગર.
| Ashwin Nagar | FCA and SAP-FICO\SEM-BCS |
Success is not permanent and failure is not final
Ph: India: +91-98330-15352 US: +1-323-325-4111
22 July 2009
By now, many of you would have filed several tax returns of your clients or your own companies or even your own returns. It has been brought to our notice that this year, whenever an ITR form is filed electronically without the digital signature, the system shows that the ITR-V has been e-mailed to the e-mail ID registered with the Income-tax Department's web site. Thereafter, when the ITR-V is tried to be opened, the system asks for a password. This was creating problems as the password that is generally used by the tax payer to log onto the e-filing site does not work while opening the ITR-V.
Recently, the Income-tax Department has put up the following clarification on its website. This would help all of you in opening the ITR-V in case of returns filed electronically.
Information on how to open your ITRV/ITR ACK
Please note that you will receive your ITRV/ITR ACK PDF file in a zip format. Please note that the ITRV/ITR ACK PDF document is password protected to ensure it is accessed by the appropriate user. The password is a combination of the pan (in lower case) and the date of birth in the format ddmmyyyy. For example, 1) if the pan is AAAAA0000A and the date of birth is 10-Jan-2008, then the password will be aaaaa0000a10012008 Please note that you will need Adobe Acrobat reader 8.0 or forward to open the password protected PDF file. If you do not have Adobe Acrobat Reader, please visit the following link to download it: www.adobe.com/products/acrobat/readstep2.html In case you are unable to open the document, please contact Efiling Income Tax Administrator at ask@incometaxindia..gov.in providing the document along with pan number and assessment year.
Income Tax Department
20 July 2009
NEW TDS RATES FROM 01.10.2009 PROPOSED IN BUDGET 2009
* The Nil rate will be applicable if the transporter Quotes his PAN.
** The rate of TDS will be 20% in all cases if PAN is not quoted by the
deduce w.e.f. 1.04.2010
*** No Surcharge and Cess on Tax deducted on non-salary payments made toresident tax payers.
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