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Archive: 2012

Posts in 2012

Auto TDS and TDS interest calculator

February 1, 2012 96603 Views 4 comments Print

This calculator calculates TDS amount deductible under section 194C, 194D, 194A, 194H, 194I and 194J. The calculator calculates TDS automatically on the basis of status of the Assessee and if PAN No. is not provided it will show the rate f TDS as 20%. The calculator also calculates interest on TDS amount deducted but not paid. The calculator is useful to compute TDS liability in respect of expenses or payment related to period on or after 01.04.2011.

Public Notice No. 94 (RE-2010)/2009-14, Dated: 01.02.2012

February 1, 2012 1089 Views 0 comment Print

PUBLIC NOTICE No. 94 (RE-2010)/2009-14 Description of input items have been mentioned in more specific details and quantities rationalized for export of Assorted Confectionery made of Cane Sugar. Another entry has also been created for Sugar free Assorted Confectionery.

Amendment of Standard Input Output Norms (SION) of Food Products (Product Code: ‘E’) in the Handbook of Procedures V.2 (2009-14)

February 1, 2012 6979 Views 0 comment Print

Description of export product is amended to read as ‘Biscuit’ instead ‘Biscuits (with or without Dry Fruits)’. Description of import items have been mentioned in more specific details and quantities rationalised.

Fixation of Standard Input Output Norms (SION) of Food Products (Product Code: ‘E’) in the Handbook of Procedures V.2 (2009-14)

February 1, 2012 1656 Views 0 comment Print

PUBLIC NOTICE NO.92 (RE-2010)/2009-2014 This notifies the SION for export product Instant Fruit Juice Powder /Crystals (both with sugar and sugar free). These are two new entries.

Period of limitation if applies to principal amount should also apply to claim for interest

February 1, 2012 1997 Views 0 comment Print

Kwality Ice Cream Company And Anr Vs. UOI (Delhi HC)- Period of limitation, unless otherwise stipulated by the statute, which applies to a claim for the principal amount should also apply to the claim for interest thereon. If that be the position, the period of limitation prescribed for demand of duty under Section 11A is normally one year and, in exceptional circumstance of a case falling under the proviso to Section 11A(1), the period of limitation is five years.

IPCC Students Registered on or before 1st March / 1st September can appear in November /May Examination

February 1, 2012 847 Views 0 comment Print

Resolved that by virtue of powers vested under Regulation 205 of the Chartered Accountants Regulations, 1988, the Council of the Institute hereby orders that candidates who register for Integrated Professional Competence Course (IPCC) in the respective Decentralized Office and complete eight months study course, as on the first day of the month in which examination is held would be eligible to appear in the Integrated Professional Competence Examination (IPCE) to be held in May, 2012 examination and onwards

Exemption scheme benefit not available as assessee fails to start production at its refinery during the qualifying period

February 1, 2012 1141 Views 0 comment Print

State of Gujarat & Ors Vs Essar Oil Ltd. & Anr (Supreme Court) – This appeal is directed against the judgment of the High Court of Gujarat dated 22.04.2008 in Special Civil Application No.24233/2007, whereby the Respondent No. 1 herein, Essar Oil Limited (hereinafter ‘Essar’) was given the benefit of Sales Tax incentive under the Government of Gujarat ‘Capital Investment Incentive to Premier/Prestigious Unit Scheme, 1995-2000’ (hereinafter ‘the said Scheme’).

Assessee not required to prove source of source

February 1, 2012 3827 Views 0 comment Print

DCIT Vs. R. R.Builders (ITAT Mumbai)- There is no dispute that the partners of the assessee firm are also partners of the firm M/s Adarsh Octroi Services, Mumbai. We further find that the amount of Rs. 5,25,000/- each was withdrawn by Shri Rafique Shakur Shekhani and Shri Sayed Rasul Shaikh partners of the firm on 15.4.2005 from their partnership firm M/s M/s Adarsh Octroi Services, Mumbai as per copy of cash book filed and the same amount was deposited by both the partners with the assessee firm on the same date.

For rejecting the view taken in earlier assessment years, there must be a change in the fact situation or a material change in law

February 1, 2012 2147 Views 0 comment Print

ACIT Vs. Pawan Hans Helicopters Ltd. (ITAT Delhi)- Hon’ble Delhi High Court in A.R.J. Security Printers’ case [2003] 264 ITR 276 and CIT v. Neo Poly Pack P. Ltd. [2000] 245 ITR 492 (Delhi ), held that even when the doctrine of res judicata does not apply to income-tax proceedings, where an issue has been decided consistently in a particular manner for earlier assessment years, the same view should prevail even during the subsequent years unless there is a material change in the facts.

Download Simple Overtime Calculator

February 1, 2012 3370 Views 0 comment Print

Download Simple Overtime Calculator in Excel Format. We just have to enter In time , Out Time and Normal Working Hours and calculator will calculate Overtime Automatically.

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