"11 January 2014" Archive

Understanding Government Budget Deficits

Deficit financing is the method by which a government finances its budget deficit, that is, it covers its expenditure in excess of the revenue. The most common forms of deficit financing are borrowing from foreign governments, or from banks like the World Bank, or borrowing from the central bank of the country (RBI in the case of India) ...

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Posted Under: Finance |

MVAT : Consulate general Notification- Addition of Sweden

Notification No. VAT 1513/CR 110/Taxation-1 24/12/2013

In exercise of the powers conferred by Sub-section (1) of section 41 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Government of Maharashtra hereby amends the Government Notification, Finance Department No. VAT.1509/CR-89/Taxation-1, dated the 5th November 2009, with effect from the 13th March 2013...

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What the "F" form means under Cst Act ?

You may be familiar with the word “F”. But today I am here to demystify the concept of F forms under CST ACT. The following conversation between Ankur and Aashish will help you to understand the concept in a great manner. Ankur : Hi Aashish !!,  wassup buddy ?? Aashish : Nothing man, feeling anger […]...

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Posted Under: Finance |

Safe Harbour Rules – Transfer Pricing

Change is what has bought us to the juncture and change is what it will take to usher in a new future as we contemplate way to address the challenges. Many changes have focused on bringing in greater clarity while others have expanded the scope of its operations. Indian Transfer Pricing ambit has been changed with introduction of Safe Har...

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Posted Under: Finance |

Deduction under section 80CCG

Deduction under section 80 CCG a new scheme was introduced to encourage flow of saving in financial instruments and improve the depth of domestic capital market. However, it also aims to promote an ‘equity culture’ in India. This is also expected to widen the retail investor base in the Indian securities markets and further the goal o...

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Posted Under: Finance | ,

Whether Additional Duty exemption can be claimed if the goods are cleared from SEZ to DTA on stock transfer basis

An exemption is given from additional duty of customs levied in lieu of Value Added Tax (‘ADC’) leviable under Section 3(5) of the Customs Tariff Act to the goods cleared from the Special Economic Zone (‘SEZ’) to Domestic Tariff Area (‘DTA’). However such exemption is not applicable if such goods, when sold in DTA, are [&h...

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Posted Under: Finance |

Change Proposed via Arthkranti Pratishthan’s Transaction Tax

A new system of taxation is proposed by a Pune based research group Arthkranti Pratishthan where it has 5 components in its proposal: Withdrawal of existing Taxation system completely (except Customs i.e. Import Duty) Every Transaction routed through a bank will attract certain deductions in appropriate percentage as Transaction Tax i.e. ...

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Posted Under: Finance |

CA Final and CPT exam Result to be declared on 15.01.2014

Result of the Chartered Accountants Final Examination held in November, 2013 and Common Proficiency Test (CPT) held in December, 2013 are likely to be declared on Wednesday, the 15th January, 2014. -...

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Posted Under: Finance |

Attestation of documents for digital signature to be done only by Gazetted officer, OR Bank Manager OR Post Master

F.No. CCA/DC(T)/2013-98 11/01/2014

In continuation of the Office Order No. CCA/DC(T)/2013-98 dated 6th September 2013, for documents acceptable as proof of identity and proof of address and their attestation, the following directions are issued for strict compliance....

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