"30 May 2014" Archive

Psychology Behind Google Success Story – “Freechology”

Why this Article? To explain a simple idea of freedom psychology which can take your organization from Good to Great. Success of your organization does not need radical changes in the entire system, success can be created out of simple things and ideas implemented in organized and phased manner. In this article, we will try to look at a s...

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Posted Under: CA, CS, CMA |

Governance: It's Time for Action Now

Dr. Sanjiv Agarwal Now that we have a duly elected majority Government at the centre (and in the state too), it’s time for action and real performance now. All states and particularly those with same party Government as that of centre may certainly help the State Governments to get benefit from the central policies and […]...

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Posted Under: CA, CS, CMA |

Power of company to Purchase its own securities – Companies Act,2013

Section 68 of the companies act 2013 and Companies (Share capital and Debentures) Rules,2014 deals with the power of company to purchase its own securities....

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Posted Under: CA, CS, CMA |

FAQs: Basic Savings Bank Deposit Account (UCBs)

Can an Individual have any number of 'Basic Savings Bank Deposit Account' in one bank? Ans. No. An individual is eligible to have only one 'Basic Savings Bank Deposit Account' in one bank....

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Posted Under: CA, CS, CMA |

ICAI President's Message – June 2014

Of late, there has been an increase in the number Non-Performing Assets (NPAs) in Public Sector Banks (PSBs). These are being reported not only at the bigger branches but also at the smaller ones. ICAI, as a partner in nation building, is deeply concerned about safeguarding the Government & public interest in PSBs. ...

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Posted Under: CA, CS, CMA |

CBDT releases Form ITR-3, ITR-4, ITR-5, ITR-6, ITR-7 for AY 2014-15

Notification No. 28/2014-Income Tax (30/05/2014)

Notification No. 28/2014-Income Tax S.O. 1418(E).─In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:- (1) These rules may be called the Income-tax (6th Amendment) Rules, 2014...

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Flag raised for 15G/15H despite Income exceeding amount of exemption

CPC(TDS) feels glad to provide  you with the new feature of downloading Form 27D, the Tax Collection Certificate for Deductees forming part of TCS Statements, filed in the form of 27EQ. Centralized Processing Cell (TDS) has observed from its records that Flag “B” (for 15G/H Forms) has been wrongly raised in the quarterly TDS ...

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Structurally Valid but actually Invalid PAN in TDS statement – Impact , Action to be taken

Centralized Processing Cell (TDS) has observed from its records that you have reported deductees with invalid PANs in your quarterly TDS statements. These PANs appear structurally valid, however, they are actually invalid, as they are not available in the PAN Master records....

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Notification No. 44/2014-CUSTOMS (N.T.), Dated: 30/05/2014

Notification No. 44/2014-Customs (N.T.) (30/05/2014)

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary ...

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TDS/ TCS – No need to submit Provisional Receipt of original statement and Statement Statistics Report wef 01.06.2014

With effect from June 1,2014,Deductors/Collectors need not submit copy of Provisional Receipt of original statement and Statement Statistics Report (SSR) for furnishing e-TDS/TCS correction statement....

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Posted Under: CA, CS, CMA |