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Archive: 22 May 2012

Posts in 22 May 2012

Income Tax Amendments Applicable for A.Y. 2012-13

May 22, 2012 32383 Views 0 comment Print

Rates for deduction of income-tax at source from certain incomes during the financial year 2011-12. Rates for computation of advance tax, deduction of income-tax at source from Salaries and charging of income-tax in certain cases during the financial year 2011-12.Tax benefits for New Pension System (NPS) . Deduction for investment in long-term infrastructure bonds

Effect of Non Registration of Partnership Firm

May 22, 2012 80620 Views 34 comments Print

This paper attempts to study the impact of non registration of firms i.e., partnership firms. The whole idea of the paper is that all others who are transacting with the firm must be aware of the constitution of the firm and thus the documents which are available with the registrar of companies are public documents and people dealing with the firm are said to have constructive notice of the details about the firm.

Empanelment with Patilputra Central Co-Operative bank for Audit

May 22, 2012 2497 Views 0 comment Print

Patilputra Central Co-Operative bank for Statutory Audit invites Tender from CA /CA Frims for Audit of Its Head Office and Twenty Branches. Last date of Application is 24.05.2012 and more details can be found at http://prdbihar.gov.in/

Benefits granted to a charitable institution cannot be extended to its substantially amended objects

May 22, 2012 808 Views 0 comment Print

Registration granted under section 12A, on 12th February 1996, and the benefits flowing therefrom, cannot be extended to the amended objects of the society unless the DIT examines the same and comes to a conclusion that the registration under section 12A, can be extended to the revised objects, memorandum and by-laws. It would be illogical to hold that once an institution is registered under section 12A, no matter whatever may be the changes in the objects, rules and regulations, for any number of times, the institution should be given the benefit of section 11 to 13 of the Act, in view of the original registration granted under section 12A.

Indian Companies – Rising NPA

May 22, 2012 1021 Views 0 comment Print

When the new financial year come up, part of the Indian corporate is fully energized to restructure their loan/debt portfolio. Yes this is the prime time for the Indian corporate to go for restructuring their huge outstanding loan books and increasing the debt of the bank which is the tax earning money of the government.

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