In this calculator you have to enter CIF Value (Cost Insurance & Freight) in Rupees and percentage rate of the following – Landing Cost, Assessable Value, BCD (Basic Custom Duty), CVD (Counter Veiling Duty), CVD Cess (Educational Cess 2% + Higher Educational Cess 1%), BCD Cess (Educational Cess 2% + Higher Educational Cess 1%), Special Additional Duty and calculator will calculate the duty payable by you.
Government is contemplating to enhance income tax exemption for up to Rs 3 lakh paid as interest on housing loans in a year, from the existing limit of Rs 1.5 lakh. The Budget is scheduled to be tabled on March 16.
13th February, 2012 The Institute intends to draw a Panel from amongst its Members for acting as Observer at the examination centres in various cities during the Chartered Accountants Examinations to be held from 2nd – 17th May, 2012 and the Common Proficiency Test (Paper-Pencil Mode) to be held on 17th June, 2012 (Sunday). Members who are interested to act as Observer at the examination centres during the examination days may download the attached Empanelment Form and e-mail the same to: examcoob@icai.in on or before 1st March, 2012.
Inauguration of New Office Buildings ‘Aayakar Bhawan Annexe’, Durgapur and ‘Aayakar Bhawan Poorva’ Kolkata by Shri Pranab Mukherjee, Honorable Finance Minister, Govt. of India on 13.01.2012 and 14.01.2012. Shri Pranab Mukherjee, Honorable Finance Minister, Govt. of India inaugurated the new Office Building ‘Aayakar Bhawan Annexe’ at Durgapur, West Bengal on 13.01.2012 in the august presence of Shri S. C. Jaini, Member, CBDT and Shri D. C. Pant, Chief Commissioner of Income Tax (CCA), West Bengal. Other senior officers of the department and of local administration,
Accounting regulator ICAI on Monday barred the ex-CFO of the erstwhile Satyam Computer Services, Srinivas Talluri, and former Pricewaterhouse auditor Vadlamani Srinivas from practice for life, while slapping a Rs 5 lakh penalty on them over the Rs 14,000 crore fraud at the IT firm. The Disciplinary Committee of the Institute of Chartered Accountants of India (ICAI) has found the two auditors guilty of professional misconduct, said Jaydeep Shah, the newly elected President of the institute.
Indians are the largest depositors in banks abroad with an estimated 500 billion US dollars (nearly Rs 24.5 lakh crore) of illegal money stashed by them in tax havens, the CBI director said on Monday. India, in particular, has suffered from the flow of illegal funds to tax havens such as Mauritius, Switzerland, Lichtenstein, British […]
Mr Jaydeep Narendra Shah was elected as CA Institute President at a meeting of the central council of the institute in the capital today in place of Mr G. Ramaswamy, who demitted office today. CA Jaydeep Narendra Shah was Vice-President of the Institute of Chartered Accountants of India. He was a Central Council Member and was re-elected to the Central Council of ICAI for the third term for the period from 2010 to 2013 after completion of 1st term from 2004-2007 and current 2nd term from 2007-2010.
The Government is mulling a probe by the Enforcement Directorate and the Income-Tax Department into the role of two Mauritius-based entities to identify their stakes in Devas Multimedia Pvt Ltd which executed the controversial S-band deal with the ISRO. It is also contemplating investigation into the activities of certain unknown government officials for their “collusive behaviour” and acts of omission and commission in extending undue favours to Devas at the Government exchequer’s cost.
The Ministry of Railways has advised the passengers travelling on the train on a short notice to use the facility of Current Reservation Counter situated at the train originating main stations. The Ministry has pointed out that vacant reserved seats available on train after preparation of reservation charts can be booked at the Current Counters of the train originating stations upto a specified time before departure of trains.
In a major crackdown, the Income Tax department has under its scanner more than 22 crore instances of High Value transactions in the country and abroad which include unreported credit card operations and deals in real estate. The department has obtained, through its data mining and intelligence tools, instances of unreported transactions involving an estimated amount over Rs 2,000 crore.
