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Archive: 03 April 2012

Posts in 03 April 2012

Excel Tips – How to Copy Paste only Values from one cell to another?

April 3, 2012 10096 Views 0 comment Print

This formula evaluates to 200. This ‘200’ is the value of Cell B3. To copy and paste this Value i.e. 200, to the adjoining cell C3, go to cell B3, hit [CTRL + C], or right your mouse and select from the shortcut menu that pops up. Go to cell C3 and click . A [Paste Special] dialogue box shall appear (See figure).

Banks to work full day this Saturday

April 3, 2012 1460 Views 0 comment Print

In view of three holidays this week, public sector banks have been directed to function full day on Saturday, April 7. The Finance Ministry has asked all public sector banks to to function full day this coming Saturday instead of working half-day, official sources said. Usually, banks are open for public dealings between 10 am and 1 pm on Saturdays.

Disputed Excise Duty liability cannot be allowed without actual payment of the same

April 3, 2012 1382 Views 0 comment Print

High Court held that as it was not a case of actual payment, i.e., expenditure but only a provision was made in the books of accounts in respect of the excise duty payable while disputing the liability to pay the duty. Therefore, it was a case of the trading liability and the question of cessation or remission of liability was relevant and material for deciding whether or not Section 41(1) of the Act is applicable.

Expenses deductible in the year of TDS payment if TDS been paid after the due date prescribed u/s. 201

April 3, 2012 1860 Views 0 comment Print

Assessing Officer noticed from audit report Form No. 3CD that the assessee has incurred contractual payments towards fabrication and erection expenses and deducted TDS. But TDS was not deposited within the time limit prescribed u/s. 201 of the Act. The same was deposited on 15.02.2006. The Ld. Counsel for the assessee could not contribute anything which supports his case.

FEMA – Data on import of Gold – Statements – Modification

April 3, 2012 558 Views 0 comment Print

Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to Para 4(v) of A.P. (DIR Series) Circular No.2 dated July 9, 2004, in terms of whichAD Category – I banks are required to submit to FED, CO, RBI a monthly statement regarding the number of transactions and value in USD million and Rupees in crores of gold imported by (i) Export Oriented Units (EOUs), (ii) Units in SEZ/EPZ, and (iii) Nominated Agencies/Banks.

Systemic risk assessment – The cornerstone for the pursuit of financial stability

April 3, 2012 2592 Views 0 comment Print

what are systemic risks. There is no commonly accepted definition of systemic risk at present. The precise meaning of systemic risk is ambiguous; it can mean different things to different people and different definitions have been attempted.

Revised Schedule VI in Excel Format – Balance Sheet, Profit Loss A/c, Notes

April 3, 2012 821798 Views 110 comments Print

Ministry of Corporate Affairs [MCA], Government of India, has on 3 March 2011, hosted on its website, the revised Schedule VI to the Companies Act, 1956 which deals with the Form of Balance sheet, Profit & Loss Account and disclosures to be made therein. The revised Schedule VI has been framed as per the existing non-converged Indian Accounting Standards notified under the Companies (Accounting Standards), Rules, 2006 and has no connection with the converged Indian Accounting Standards.

Who is required to File Return Online Compulsorily for AY 2012-13?

April 3, 2012 8364 Views 4 comments Print

Compulsory / Mandatory E filing of Return with digital signature and without digital signature -We can divide Assessee for Online Return Filing in two categories – one who have to submit returns online but they have the option to submit the same with or without digital signature and Other Category of the Assessee who have to file Return online and only with Digital Signature.

PPF Interest Rate increased to 8.80% p.a. 5 year SCSS, 2004 to 9.3% p.a.

April 3, 2012 4650 Views 0 comment Print

RBI Circular No. DGBA.CDD. No. H- 6506 The Government of India have vide their Office Memorandum (OM) No. 6-1/2011-NS.II (Pt.) dated March 26, 2012, advised the rate of interest on various small savings schemes for the financial year 2012-13. Accordingly, the rates of interest on PPF, 1968 and SCSS, 2004 for the financial year 2012-13 effective from April 01, 2012, on the basis of the interest compounding/payment built-in in the schemes, will be as under:

PPT on Budget 2012 – Service Tax/ Excise/ Customs / GST

April 3, 2012 13370 Views 0 comment Print

We have attached below a power point presentation (PPT) on Budget 2012 – Service Tax/ Excise/ Customs Duty/ GST. Which is authored by CA Bimal Jalan. PPt Covers the following Topics. Goods And Services Tax Service Tax – 2012 Taxation of Services – Negative List Introduction Of Negative Lists Services under Exempted List Definition Of Service Declared Services –S 66E

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