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Archive: April, 2012

Posts in April, 2012

RTI – ITAT Member’s Corruption Charges Can Be Disclosed

April 24, 2012 732 Views 0 comment Print

As is clear from the arguments of Mr. Bhushan, whole attempt was to say that divulgence of ACR is in public interest. That is precisely the CIC is asked to find out. The matter is still at large and the appellant can always argue this before the CIC. What is important is that the procedure under Section 11(1), which is mandatory has to be followed which includes, giving of notice to the concerned officer information whose ACR is sought for.

Punjab VAT Dept, launches drive to survey unregistered dealers liable to be registered

April 24, 2012 1053 Views 0 comment Print

Excise and Taxation Department, Punjab has launched a special drive for finding out the unregistered dealers by way of survey u/s 48 of Punjab VAT Act, 2005, who are eligible for registration under Punjab VAT Act but may not have registered as yet.

Depreciation on computer accessories & peripherals allowable at 60%

April 24, 2012 10853 Views 0 comment Print

The Assessing Officer allowed the depreciation on computer accessories and peripherals at the rate of 15% as against 60% claimed by the assessee. The learned CIT(A) directed the Assessing Officer to allow depreciation at the rate of 60% following the decision of Special Bench of ITAT in the case of DCIT Vs. Datacraft India Ltd. – 40 SOT 295 (Mum)(SB).

Company Law – Substitution of Forms 23C and 23D

April 24, 2012 2509 Views 0 comment Print

Companies (Central Government’s) General Rules and Forms (Amendment) Rules, 2012 – Substitution of Forms 23C and 23D. Notification No. G.S.R. 313(E), dated 24-4-2012 – In exercise of the powers conferred by sub-section (l) of section 642, read with section 610B of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules further to amend the Companies (Central Government’s) General Rules and Forms, 1956, namely:

Diesel prices linked with market rates , Prices my go up

April 24, 2012 669 Views 0 comment Print

The government today said that it has taken an in-principle decision to link diesel prices with market rates, however, there is no proposal at present to fully deregulate cooking gas price. Minister of State for Finance, Namo Narain Meena said this in a written reply to the Rajya Sabha today. While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a large budgetary expenditure on subsidies.

Trinity to make financial stability possible

April 24, 2012 2139 Views 0 comment Print

Globally, the triad of Financial Inclusion, Financial Literacy and Consumer Protection has been recognized as intertwining threads in pursuit of Financial Stability. For any kind of stability, whether financial, economic, political or social, inclusive growth is an essential prerequisite. Inclusive growth, in turn, is largely driven by financial inclusion and an inclusive financial system.

External Commercial Borrowings for Civil Aviation Sector – A. P. (DIR Series) Circular No. 113

April 24, 2012 1388 Views 0 comment Print

As per the extant guidelines, availing of ECB for working capital is not a permissible end-use. On a review of the policy related to ECB and keeping in view the announcement made in the Union Budget for the Year 2012-13, it has been decided to allow ECB for working capital as a permissible end-use for the civil aviation sector, under the approval route, subject to the following conditions:

Regarding File applications for 53 SEZ ports codes

April 24, 2012 1012 Views 0 comment Print

Policy Circular No. 59 (RE-2010) /2009-14 Director General (Systems) have accorded SEZ port codes to the following 53 SEZs which have been uploaded on DGFT’s website:-

How to Combine VLookup and Match formulas in Microsoft Excel

April 24, 2012 17101 Views 0 comment Print

The VLookup formula returns data from any column you choose in the data table, simply change the number of the column in the third argument. Although it sounds simple, there is a catch. How can you determine the number of a column in a data table that contains numerous columns? How can you easily change the number of the column in the third argument of the VLookup formula? How can you easily change the column number in multiple formulas in a worksheet from which complex reports are prepared or in a sheet that contains multiple VLookup formulas?

Draft Guidance Note on Revised Schedule VI

April 24, 2012 19974 Views 0 comment Print

Guidance Note to the Revised Schedule VI to the Companies Act, 1956 1.        Introduction1.1 Schedule VI to the Companies Act, 1956 (‘the Act’) provides the manner in which every company registered under the Act shall prepare its Balance Sheet, Statement of Profit and Loss and notes thereto. In the light of various economic and regulatory […]

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