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Last date for payment of Annual Membership/COP Fees For The Year 2009-10 for CAs is 31.07.2009

July 24, 2009 270 Views 0 comment Print

The annual Membership and Certificate of Practice fees (if member holds certificate of practice) became due and payable on 1st April, 2009. Circulars advising members to pay the membership/certific ate of practice fee were sent to individual members in the month of April, 2009 and published in May, 2009 issue of the Journal. Attention of […]

Mistakes people commit generally in filing income tax return

July 24, 2009 7273 Views 28 comments Print

Wrong selection of ITR :- One may sorely miss the old ‘one size fits all’ SARAL forms for the sheer ease and convenience of filling up the one page return, but they were not e-friendly. It was also cumbersome to attach a whole lot of supporting documents and spend a day away from the office […]

Period for which books of account need to be kept under different Laws

July 23, 2009 4915 Views 0 comment Print

Companies Act, 1956 A company is required to maintain its books of account and vouchers for a period of 8 years immediately preceding the current year. Licensed Companies u/s 25 of The Companies Act, 1956 is required to maintain its books of account and vouchers for a period of not less than 4 years. The […]

SEBI prohibit listed companies from issuing shares with superior rights

July 23, 2009 591 Views 0 comment Print

SEBI/CFD/DIL/LA/2/2009/21/7 July 21, 2009 The Managing Director/ Executive Director/ Administrator of all the Stock Exchanges Dear Sir/Madam, Sub.: Amendments to the Equity Listing Agreement 1. It has been decided to amend the Equity Listing Agreement to prohibit listed companies from issuing shares with superior rights as to voting or dividend vis-à-vis the rights on equity […]

SEBI abolished no-delivery period for all types of corporate action

July 22, 2009 444 Views 0 comment Print

The Securities and Exchange Board of India, the markets watchdog, has done away with a no-delivery period for all types of corporate actions for scrips that are traded in the compulsory dematerialised mode and accordingly, short deliveries, if any. During corporate announcements like bonus or dividend, shares of that company were under a no-delivery period. […]

Press Note on taxation of limited liability partnerships

July 22, 2009 525 Views 0 comment Print

LLP is a new corporate form that enables professional expertise and entrepreneurial initiative to combine, organize and operate in an innovative and efficient manner. In India, this need has long been recognised for businesses which may require a framework that provides flexibility suited to requirements of service, knowledge and technology based enterprises. Services sector is playing a major role in the national economy and there is a growing diversity in the range of services being offered. The services sector also finds this form very useful.

CIC decided, CA student to get copy of answer sheet under RTI Act

July 22, 2009 1538 Views 0 comment Print

Name of the Appellant: Ms. Vikita Vishanji Soni , Name of the Public Authority: The Institute of Chartered Accountants of India , Decision No.4167/IC(A)/2009 , F. No.CIC/MA/A/2009/000474 , Dated, the 13th July, 2009 , Delivered by : Central Information Commission.

New Income Tax Rules and Requirement for filing of ITR for A.Y. 2009-10

July 21, 2009 1628 Views 0 comment Print

For the current year, there have been a few changes which have been introduced and need to be kept in mind while filing the returns.The tax department has taken steps to make income tax returns filing easier and simple. In the past few years, there have been many improvements and use of technology by the Income Tax […]

Precautions and steps need to be taken while filing your Income Tax Return

July 21, 2009 4475 Views 0 comment Print

Due date of July 31 fast approaching, it is that time of the year again when the nation’s tax payers scramble to file I-T returns. After all, filing of tax return is compulsory for everyone whose gross total income exceeds the basic exemption limit. For financial year 2007-08, for instance, the basic exemption limit was […]

What is Permanent Account Number (PAN)? Is it compulsory to obtain and quote PAN?

July 21, 2009 591 Views 0 comment Print

Learn what Permanent Account Number (PAN) is and why it is compulsory to obtain and quote PAN. Understand its significance in income tax, business, and more.

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