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Notification No. 116/2013-Customs (N.T.) Dated: 29/11/2013

November 29, 2013 487 Views 0 comment Print

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 and expedient so to do, hereby

CBDT notifies Multi Commodity Exchange of India Limited for the Purpose of Section 43(5)

November 29, 2013 2317 Views 0 comment Print

Notification No. 92/2013 – Income Tax Central Government hereby notifies the Multi Commodity Exchange of India Limited, Mumbai as a recognised association for the purposes of clause (e) of the proviso to clause (5) of the said section, with effect from the date of publication of this notification in the Official Gazette.

Live-in relationship is neither a crime nor a sin : SC

November 29, 2013 1784 Views 0 comment Print

Live-in or marriage-like relationship is neither a crime nor a sin though socially unacceptable in this country. The decision to marry or not to marry or to have a heterosexual relationship is intensely personal.

Banks can pay interest on Rupee savings / term deposits at intervals shorter than quarterly intervals

November 29, 2013 1138 Views 0 comment Print

As all commercial banks are now on core banking platforms, it has been decided to: give banks the option to pay interest on savings deposits and term deposits at intervals shorter than quarterly intervals.

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

November 28, 2013 71636 Views 0 comment Print

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.

Amount Received by Partner On Retirement Not Chargeable To Tax

November 28, 2013 3342 Views 0 comment Print

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.

SEBI : Investments by FIIs/QFIs in Credit Enhanced Bonds

November 28, 2013 457 Views 0 comment Print

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

4 Accounting Programs Your Clients Will Thank You for Recommending

November 28, 2013 6884 Views 5 comments Print

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 business.

Lets Learn Commands of Microsoft Excel And Microsoft Word

November 28, 2013 6130 Views 0 comment Print

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.

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

November 28, 2013 600 Views 0 comment Print

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 available till 29th November, 2013 upto 3 o’clock.

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