"November, 2012" Archive

EPFO launches e-Passbook service

Over 50 million PF subscribers can now access their accounts online as retirement fund body EPFO launched its e-Passbook service today. Active subscribers whose electronic challan-cum-return is already uploaded, can download their e-Passbook every month under the service launched by the EPFO's Central Provident Fund Commissioner R C Mishr...

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Guidelines for Disciplinary Proceedings Against Delinquent Govt. Servants

No. 425/04/2012-AVD-IV(A) 29/11/2012

Instructions have been issued in the past for expeditious disposal of disciplinary proceedings against delinquent government servants. However, it has been observed that disciplinary proceedings are generally taking a long time which defeats the very purpose of initiating the said proceedings. ...

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Service Tax Registration Form Amended to include Accounting Codes

Notification No. 48/2012-Service Tax 30/11/2012

In exercise of the powers conferred by sub-section(1) read with sub-section (2) of Section 94 of the Finance Act, 1994( 32 of 1994), the Central Government hereby makes the following rules further to amend the Service Tax Rules, 1994,...

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Notification No. GSR 859(E)-Income Tax Dated 30/11/2012

Notification No. GSR 859(E)-Income Tax 30/11/2012

Notification No. GSR 859(E)-Income Tax In continuation to the earlier Notification No. G.S.R. 725(E), dated 22-6-1988 (See [1988] 172 ITR (St.) 54), and in pursuance of clause (e) of paragraph 2 of the Capital Gains Account Scheme, 1988, the Central Government hereby authorises all the branches (except rural branches) of IDBI Bank Ltd., t...

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Public Notice No. 33 (RE-2012)/2009-2014, Dated: 30.11.2012

Public Notice No. 33 (RE-2012)/2009-2014 30/11/2012

In exercise of the powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2009-14 and Paragraph 1.1 of the Handbook of Procedures (Vol.1), the Directorate General of Foreign Trade hereby notifies the following in Handbook of Procedure Vol.II (SION Book)....

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ICAI President’s Message – December 2012

Dear Friends, To begin with, let me first convey, on behalf of our accounting fraternity, heartiest congratulations to the Hon’ble Shri Sachin Pilot for taking over as new Union Minister of Corporate Affairs (Independent Charge). Known for his youthful, energetic and dynamic working style, his reformist zeal and resultoriented approach ...

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Posted Under: Finance |

Non-transparent functioning amounts to oppression & mismanagement in affairs of company

Pravin Jain Vs Diastar Jewellery (P.) Ltd. (Company Law Board, Mumbai)

Non-transparent functioning of the R-I Company is evident from the correspondence produced by the petitioners who have been denied access to the statutory Records and the A/c books despite holding 52.94%, shares in the R-I Company. Huge amounts owed by Diastar Inc. USA to the R-I Company, admittedly a concern of R-2 & R-3, have been wr...

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Cost Accounting Records (Pharmaceutical Industry) Amendment Rules, 2012

Notification No. G.S.R. 863(E) 30/11/2012

"Form A-XBRL" means the form prescribed in these rules for filing compliance report and other documents with the Central Government in the electronic mode and in the manner prescribed under rule 6 of the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2011....

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Companies (Cost Accounting Records) Amendment Rules, 2012

Notification No. G.S.R. 862(E) 30/11/2012

Companies (Cost Accounting Records) Amendment Rules, 2012 – Amendment in rule 2 and substitution of form – A Notification NO. G.S.R. 862(E), dated 30-11-2012 In exercise of the powers conferred by clause (b) of sub-section (1) of section 642 read with clause (d) of sub-section (1) of section 209 of the Companies Act, 1956 (1 [...

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Charge of service tax cannot exceed ‘gross amount charged’

Intercontinental Consultants & Technorats (P.) Ltd. Vs Union of India (Delhi High Court)

Section 67 quantifies the charge of service tax provided in section 66, which is the charging section. Section 67 authorises the determination of the value of the taxable service for the purpose of charging service tax under section 66 as the gross amount charged ...

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