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Archive: 2013

Posts in 2013

E-Filing Audit Report One More Controversy: Signed Or Unsigned Financial Statements

September 3, 2013 29474 Views 6 comments Print

CA Sudir Halakhandi One more controversy is going on with respect to uploading of the financial statements i.e. “Balance sheet and profit and loss account” with Form 3CD/ 3CB and this controversy is related to the physical signatures on the “Financial statements” before uploading the same on the site. 50% of the questions received by […]

No Municipal / BMC Permission Required For use of Part of Premises for Professional Practice

September 3, 2013 18058 Views 4 comments Print

Appellant could not point out any provision under which the plaintiff is required to seek prior permission for running medical dispensary with only outpatient treatment facilities without any indoor work in her residential flat, more particularly, when the whole flat is being used for residential purpose and medical dispensary is being run in an area less than 30 sq.mtr.

Service Tax Voluntary Compliance Encouragement Scheme (VCES)

September 3, 2013 3167 Views 0 comment Print

CA Tarannum Khatri VCES means gift to taxpayers by finance minister. Voluntary pay your tax and get many benefits. Period: 1st October  2007 to 31st  December  2012 Eligibility: The person who has not received notice or order of determination u/s 72, 73 or 73A on or before 1st march 2013 is eligible under the scheme. […]

Overview of E-trip and E-ICC under Punjab VAT Act, 2005

September 3, 2013 17402 Views 0 comment Print

What is E-Trip and E-ICC:  E-trip and E-ICC has come into force w.e.f 01-08-2013 in Punjab. E-trip is the reporting of intra-state and E-ICC is the reporting of inter-state transactions meant for trade under section 51 of Punjab VAT Act. 2005 on the virtual information collection centre on the official website of the Excise & Taxation […]

Settlement of Claims of Deceased Depositor – Simplification of Procedure – Placing of claim forms on bank’s website

September 3, 2013 2103 Views 0 comment Print

Please refer to circular DBOD.No.Leg.BC.95 /09.07.005/2004-05 dated June 09, 2005 wherein simplified procedure has been specified for settlement of claims of deceased depositors. We have been receiving feedback from public that banks are not following the simplified procedure as advised in the circular.

RBI tightens norms for disbursal of home loans

September 3, 2013 2034 Views 0 comment Print

In view of the higher risks associated with such lump-sum disbursal of sanctioned housing loans and customer suitability issues, banks are advised that disbursal of housing loans sanctioned to individuals should be closely linked to the stages of construction of the housing project/houses and upfront disbursal should not be made in cases of incomplete/under-construction/green field housing projects.

RBI grants banks freedon to offer interest rates on NRE deposits with maturity of 3 years

September 3, 2013 364 Views 0 comment Print

In terms of paragraph 2 ibid, interest rates offered by banks on NRE deposits cannot be higher than those offered by them on comparable domestic rupee deposits. However, in order to pass on the benefit of exemption provided on incremental NRE deposits with maturity of 3 years and above from CRR/ SLR requirements,

RBI simplifies procedure of opening bank accounts for foreign students

September 2, 2013 985 Views 0 comment Print

It has been represented to us that foreign students arriving in India are facing difficulties in complying with the Know Your Customer (KYC) norms while opening a bank account due to non-availability of any proof of local address.

SEBI :The Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2013

September 2, 2013 634 Views 0 comment Print

The right of recognised clearing corporation(s) to recover the dues from its clearing members, arising from the discharge of their clearing and settlement functions, from the collaterals, deposits and the assets of the clearing members, shall have priority over any other liability of or claim against the clearing members.

Medical Treatment Abroad – IAS/IPS Officers gets benefit which was available to other services

September 2, 2013 5126 Views 0 comment Print

I am directed to refer to above mentioned subject and to say that it has been decided that the following concessions which are admissible to the Central Government servants under the Central Services (Medical Attendance) Rules, 1944, should be extended to members of the All India Services under AIS (Medical Attendance) Rules, 1954

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