Monetary and Liquidity Measures On the basis of an assessment of the current macroeconomic situation, it has been decided to: keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per cent of their net demand and time liabilities; and keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at […]
TRAI Reduces National Roaming Tariff Ceilings, Permits Customised Tariffs Through Special Tariff Vouchers for National Roamers and Mandates Free National Roaming Plans TRAI has reduced ceilings for national roaming calls and SMS and instituted a new regime for providing flexibility to telecom service providers to customise tariffs for national roamers through STVs and Combo Vouchers. […]
Millions of taxpayers filing electronic I-T returns will soon get relief from sending by post the mandatory paper verification form (ITR V- Acknowledgement) as the CBDT has decided to soon stop this practice.
June 12, 2013 ICAI PRESS RELEASE The Institute of Chartered Accountants of India (ICAI) would like to clarify that the present limit for Statutory Bank Branch Audit is still Rs. 20 crore (of advances) and not Rs. 50 crore as being erroneously reported in some sections of the media. This is to inform that concerted […]
The Special Judge, CBI Cases, Pune (Maharashtra) has convicted Sh. Manish Nadkar, the then Income Tax Officer, Ward D-3, Pune for demanding & accepting a bribe of Rs. one lakh and sentenced him to undergo four years Rigorous Imprisonment with a fine of Rs.20,000/-.
Income Tax Department has notified vide Notification No. 42/2013 Dated- 11th day of June, 2013 ITR for Assessment Year 2013-14 or Financial Year 2012-13. E-Filing Utility of these also be expected to be released soon. Department has already released E-filing Utility for ITR-1, ITR-2, ITR-3, ITR-4 and ITR 4S. Download ITR-5 , ITR 6, ITR […]
Income Tax Department has released Income Tax Return (ITR ) 4 for e-filing of Returns for A.Y. 2013-14 of Financial Year 2012-13. ITR form can be downloaded from the website https://incometaxindiaefiling.gov.in/ . 1. Who can use this Return Form? This Return Form is to be used by an individual or a Hindu Undivided Family who […]
One of the last remaining bastions of the telegram, India, has announced it is ceasing telegram services on July 15, in the wake of the rising popularity of smartphones, texting and email. Telegrams – called “taar” in India — began circulating in the 1850s. The signs of the taar’s demise were already clear; the system […]
PTI has reported on 09.06.2013 that Union Finance Ministry has raised the audit limit for Statutory Audit of nationalised bank branch from Rs 20 crore to 50 crore turnover for financial year 2013-14. Extract of News received from PTI is as follows :- Union Finance Ministry has raised the audit limit of nationalised bank branch […]
The Directorate of Income Tax (PR , PP & OL) has produced a twelve episode quiz show on NDTV 24 x 7 called “Tax Your Brain” with a view to communicate with the school children and youth of the country on the “need for taxation in civil society”. The quiz show will feature 32 teams […]
