"08 June 2012" Archive - Page 2

IDBI Bank signs MOU with Government of Karnataka at Global Investors Meet 2012

IDBI Bank Ltd has entered into a Memorandum of Understanding with the Government of Karnataka (GoK) at the Global Investors Meet (GIM) held at Bangalore. The meet was organized by Government of Karnataka and Karnataka Udyog Mitra. Shri Manogaran Varadaraj Masilamani, General Manager, IDBI Bank and Shri B.S. Sirsikar, Joint Director (Plan...

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Posted Under: Finance |

Govt removes restriction on export of Skimmed Milk Powders

Notification No. 2 (RE-2012)/2009-2014 08/06/2012

Entry Number 38 in the ITC(HS) Classifications of Export & Import Items has been bifurcated and an entry number 38.01(new entry) Skimmed Milk Powder is introduced. Export of new entry namely Skimmed Milk Powder has been made free. ...

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Skimmed Milk Powder added under Vishesh Krishi and Gram Udyog Yojana (VKGUY)

Public Notice No. 4 (RE-2012)/2009-14 08/06/2012

Amendments in the Vishesh Krishi and Gram Udyog Yojana (VKGUY) of Chapter 3 of Foreign Trade Policy 2009-14 - Appendix 37A of Handbook of Procedure (Vol. I). In Appendix 37A of Vishesh Krishi and Gram Udyog Yojana (VKGUY), the following product is added in Table 2 for export made with immediate effect:...

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Empanelment for Concurrent Audit in Central Bank of India

Request for Assignment of Concurrent Audit- Central Bank has hosted online form for Assignment Of Concurrent Audit to CA Firms in India. Online Applications can be submitted upto 17/06/2012 only....

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Posted Under: Finance |

Stamp Duty on Power of Attorney given to unrelated person constitutionally valid – SC

State of M.P. Vs. Rakesh Kohli & ANR. (Supreme Court of India)

Ordinarily, where executant himself is unable, for any reason, to execute the document, he would appoint his kith and kin as his power of attorney to complete the transaction on his behalf. If one does not have any kith or kin who he can appoint as power of attorney, he may execute the conveyance himself. The legislative idea behind Claus...

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Development of infrastructure facility sufficient to claim deduction u/s. 80-IA(4) wef A.Y. 2002-03

Sanee Infrastructure (P.) Ltd. Vs Assistant Commissioner of Income-tax (ITAT Indore)

As per the amended law, development of infrastructure facility is sufficient for claim of deduction under section 80-IA(4) with effect from assessment year 2002-03. The relevant assessment year under consideration is also assessment year 2002-03 for which amended provisions of law is applicable. ...

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Common Errors in E filed I-T rectification requests

COMMON ERRORS NOTICED WHILE FILING OR UPLOADING THE RECTIFICATION XML/FILE IN WEBSITE (Submit your rectification request screen) LEADING FAILURE TO UPLOAD OF RECTIFICATION REQUEST. • Assessees don’t write the communication reference number of the CPC order which is sought to be rectified, in the specified format in online rectificatio...

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How to submit Online Income Tax Rectification request

Step 1: Make sure you have received an intimation under section 143 (1) from CPC Bangalore for the E-returns filed by you for AY 2009-10 or later. Step 2: Carefully examine the intimation to see if the computation by CPC is correct even if different from what was expected by you. It may be that you may have computed tax liability or inter...

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Empanelment with Vijaya Bank for Concurrent Audit

• Applicant should be a Partnership Firm with minimum 2 partners. The allocation of branches to the auditors will be purely the prerogative of the Bank. The concurrent audit firm should furnish the name and qualification of the persons, who shall be conducting the audit before commencing audit assignment and such persons will have to c...

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Posted Under: Finance |

Guidelines for Conversion Of CA Firms into LLPs

In terms of the Council decision dated 14 July, 2011, following guidelines for conversion of CA firms into LLPs and constitution of separate LLPs by the practicing Chartered Accountants have been finalized which are applicable for conversion of CA firms into LLPs or formation of new LLPs by the members in practice of the Institute subject...

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