As you know, I am here primarily to sign the Double Taxation Avoidance Agreement (DTAA) as was agreed during the visit of Prime Minister of Nepal to India on October 20-23, 2011. I am happy that we have revised the Double Taxation Avoidance Agreement today. The revised DTAA will provide tax stability to the residents of India and Nepal and facilitate mutual economic cooperation as well as stimulate the flow of investment, technology and services between India and Nepal. In the revised DTAA the threshold withholding tax rates on dividends, interest, etc., are rationalised to reflect the present day situation and developments in the area of international taxation.
Central Bureau of Investigation ( CBI) arrested Superintendent of Service Tax Department, Thane, Anil Singh for allegedly accepting a bribe from a private firm. The CBI laid a trap at his office chamber in Thane and arrested Singh red handed while accepting a bribe of Rs. 20000 for not imposing service tax penalty of Rs. 2 lakh on the firm. Singh was arrested on Thursday and remanded in CBIs custody till December 8.
Download Automated Form-16A for the Financial Year 2011-2012 and Assessment Year 2012-2013 in excel format.
The world is facing the tremors of financial time bombs which are getting blasted from time to time. Europe has covered every country, states, town’s news papers and, TV channels and other media resources left on the globe with their ongoing crisis. Economists around the world are on the debate that does the world is coming to an end in 2012 through the economic disasters or will continue its fragile growth. I have no bets placed on this topic since I am not yet matured enough to comment on this topic. But all I can say is that till December 2012 we have to live and my job role is to write and depict to all of you the path till dead line of 2012.
The finance ministry has notified rules which will pave the way for small savings account holders to earn higher returns from December 1. Earlier this month, the government had accepted the recommendations of a panel which would help investors earn higher interest on small savings schemes.An expert panel, headed by former RBI deputy governor Shyamala Gopinath, had recommended moving to a market-linked interest rate system for small savings schemes that would translate into higher returns for now.
Public Provident Fund (Amendment) Scheme, 2011 – Amendment in paragraphs 3, 11 and Form A NOTIFICATION [F.No. 1/9/2011-NS-II], dated 25-11-2011 In exercise of the powers conferred by sub-section (4) of section 3 of the Public Provident Fund Act, 1968 (23 of 1958), the Central Government hereby makes the following further amendment to the Public Provident Fund Scheme, 1968, namely :- 1. (1) This Scheme may be called the Public Provident Fund (Amendment) Scheme, 2011.
NOTIFICATION [F.No.1/12/2011-NS-II], dated 25-11-2011 In exercise of the powers conferred by clause (1) of article 283 of the Constitution, the President hereby makes the following further amendments in the National Small Savings Fund (Custody and Investment) Rules, 2001, namely:- 1. (1) These rules may be called the National Small Savings Fund (Custody and Investment) Amendment Rules, 2011. (2) They shall come into force on the 1st day of December 2011.
NOTIFICATION [F.No.1/11/2011-NS-II], dated 25-11-2011- In exercise of the powers conferred by section 15 of the Government Savings Banks Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Time Deposit Rules, 1981, namely:-1. (1) These rules may be called the Post Office Time Deposit (Second Amendment) Rules, 2011.
NOTIFICATION [F.No. 1/10/2011-NS-II], dated 25-11-2011- In pursuance of rule 6 of the Post Office Savings Account Rules, 1981, the Central Government hereby notifies that, with effect from the 1st day of December, 2011, interest on the balance at credit of an account shall be allowed at the rate of four per cent, per annum.
Post Office Recurring Deposit (Second Amendment) Rules, 2011 – Amendment in rules 9. 10, 11, 12 and insertion of tables 44 to 46 NOTIFICATION [F.No. 1/7/2011-NS-II], dated 25-11-2011 In exercise of the powers conferred by section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Recurring Deposit Rules, 1981, namely:- 1. (1) These rules may be called the Post Office Recurring Deposit (Second Amendment) Rules, 2011.
