"28 November 2013" Archive

Provision of Employees’ Provident Funds and Miscellaneous Provisions Act, 1952

Provident Fund scheme was started by few concerns even before the enactment of the act. The government in 1952 framed this act for the benefit and welfare of the employees. This act is applicable to employees drawing pay not more than Rs. 6,500 pm but at the time of registration the same employee pay should not exceed Rs. 5,000....

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Posted Under: Corporate Law |

Amount received by partner on retirement is exempt from capital gains tax

Income-tax Officer Vs Shri Rajnish M Bhandari (ITAT Pune)

Hon’ble Bombay High Court in the case of Prashant S Joshi (supra) has also noted the omission of section 47(ii) of the Act and insertion of section 45(4) of the Act with effect from 1.4.1988. Considering the entirety of the legal position, it has been affirmed by the Hon’ble High Court that amounts received by the partner on his retir...

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Amount Received by Partner On Retirement Not Chargeable To Tax

The Commissioner of Income Tax-III Vs Mr. Riyaz A. Sheikh (Bombay High Court)

Decision of this Court in the case of Prashant S. Joshi (supra) placed reliance upon the decision of the Supreme Court in the case of CIT V/s. R. Lingamallu Rajkumar reported in [2001] 247 ITR 801, wherein it has been held that amounts received on retirement by a parnter is not subject to capital gains tax....

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Analysis of major amendments under Punjab VAT (Second Amendment) Act, 2013 – Part-1

The Punjab Value Added Tax (Second Amendment) Act, 2013 (Punjab Act No. 38 of 2013) has brought about major and very important changes under the Punjab VAT Act, 2005. ...

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Posted Under: Corporate Law |

SEBI : Investments by FIIs/QFIs in Credit Enhanced Bonds

CIR/IMD/FIIC/19/2013 28/11/2013

In case the aggregate holding of the FII/QFIs exceeds overall investment limit for whatsoever reason, the FII/QFI due to whom the limit is breached shall mandatorily divest excess holdings within seven working days of such breach being notified by depositories to the DP...

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4 Accounting Programs Your Clients Will Thank You for Recommending

As a tax accountant, it's your job to make the tax and accounting process simple for your clients. Luckily, there are several software applications available that take the guesswork out of accounting and streamline the process for both you and your clients. Best of all? These software picks are affordable regardless of the size of the bus...

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Posted Under: Corporate Law |

Lets Learn Commands of Microsoft Excel And Microsoft Word

I have uploaded on the links mentioned below the file related to Microsoft Excel and Word for those who are already working on these software's but don't know the short cut keys of these two programmes and advanced commands of these two programmes. I hope these will be useful to all of you....

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Revised Draft Bank Branch Auditors' panel for the year 2013-14

We would like to inform that the revised Draft Bank Branch Auditors’ panel for the year 2013-14 has been hosted on www.meficai.org, considering all the complaints received from member till 25th November, 2013, paper received thereof,  relevant list received from Auditors’ on 26th November, 2013 and the same will be avail...

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Posted Under: Corporate Law |

How to Write a Good CV

What should your CV Contain :- Your aim is to convince the employer that you have the necessary experience, knowledge and hunger to do the job. Many CVs do nothing more than provide a stark list of job titles and duties; but all companies are results-orientated - so you must emphasize what you've achieved within a role, show how you added...

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Posted Under: Corporate Law |

Request For Information from Return of Income Filed To Analyze the Number of Taxpayers Opting For the Safe Harbour

Circular [F. NO.500/139/2012-FTD-I(PT.)] 28/11/2013

The Safe Harbour rules have been made public vide notification dated 18th September, 2013. In order to analyze the number of taxpayers opting for the Safe Harbour, you are requested to provide the following information from the return of income filed till 30th November, 2013:...

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