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Archive: 07 December 2011

Posts in 07 December 2011

Cost Accounting Records (Telecommunication Industry) Rules, 2011

December 7, 2011 391 Views 0 comment Print

Authentication of Annexure to the Compliance Report, – The Annexure to the compliance report shall be approved by the Board of Directors and certified by the Cost Accountant before submitting the same to the Central Government by the company.

The Cost Accounting Records (Sugar Industry) Rules, 2011

December 7, 2011 694 Views 0 comment Print

any investigation, legal proceeding or remedy in respect of any such right, privilege, obligation, liability, penalty, forfeiture or punishment as aforesaid, and; any such investigation, legal proceeding or remedy may be instituted, continued or enforced and any such penalty, forfeiture or punishment may be imposed as if those rules had not been superseded.

Notification No.G.S.R. 868 – Income Tax Dated 7/12/2011

December 7, 2011 385 Views 0 comment Print

Notification No.G.S.R. 868/2011 – Income Tax In exercise of the powers conferred by sub-section (3) of section 1 of the Government Savings Certificates Act, 1959 (46 of 1959), the Central Government hereby specifies that the National Savings Certificates-IX Issue shall be the class of Savings Certificates to which the said Act applies

Cost Accounting Records (Pharmaceutical Industry) Rules,2011

December 7, 2011 1315 Views 0 comment Print

every officer thereof who is in default, including the persons referred to in sub-section (6) of section 209 of the Act, shall be punishable as provided under sub-sections (5) and (7) of section 209 of Companies Act, 1956 (1 of 1956).

Cost Accounting Records (Petroleum Industry) Rules, 2011

December 7, 2011 838 Views 0 comment Print

any investigation, legal proceeding or remedy in respect of any such right, privilege, obligation, liability, penalty, forfeiture or punishment as aforesaid, and; any such investigation, legal proceeding or remedy may be instituted, continued or enforced and any such penalty, forfeiture or punishment may be imposed as if those rules had not been superseded.

Cost Accounting Records (Fertilizer Industry) Rules, 2011

December 7, 2011 790 Views 0 comment Print

any investigation, legal proceeding or remedy in respect of any such right, privilege, obligation, liability, penalty, forfeiture or punishment as aforesaid, and; any such investigation, legal proceeding or remedy may be instituted, continued or enforced and any such penalty, forfeiture or punishment may be imposed as if those rules had not been superseded.

Cost Accounting Records (Electricity Industry) Rules, 2011

December 7, 2011 316 Views 0 comment Print

Authentication of Annexure to the Compliance Report, – The Annexure to the compliance report shall be approved by the Board of Directors and certified by the Cost Accountant before submitting the same to the Central Government by the company.

Gratuity Payable only if employee put in 5 years of service – HC

December 7, 2011 12639 Views 0 comment Print

The first respondent filed a claim petition before the second respondent seeking payment of gratuity for the period, which he has rendered services to the petitioner’s lorry transport, from 01.04.1991 to 19.04.2007, on which date he had voluntarily stopped himself from services. He claimed gratuity for a period of 10 years and a monthly salary of Rs.3,600/-. The total gratuity claim was Rs.28,800/-. The said application filed by the first respondent was taken on file by the second respondent as P.G.No.90 of 2007 and notice was issued to the petitioner.

Transaction cannot be treated as Bogus merely for being a Off market transaction

December 7, 2011 2785 Views 0 comment Print

ACIT Vs. Shri Ravindrakumar Toshniwal (ITAT Mumbai)- – Tribunal in the case of Mukesh R. Marolia wherein it has been held that off market transaction is not a unlawful activity and there is no relevance in seeking details of share transaction from stock exchange when the sale was not on stock exchange and relying upon it for making addition.

Small Savings to Fetch Better Returns

December 7, 2011 2149 Views 0 comment Print

Based on the recommendations of Committee for Comprehensive Review of National Small Savings Fund, Central Government had recently issued two notifications on 25th and 29th November, 2011 which come into force from December 1,2011. The new savings regime offer better returns than ever and compared to other investments, offer adequate post tax return and maximum security to the principal amount invested. So if one is willing to invest in fixed income instruments, better to choose one from Government’s saving plans .

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