The Income Tax Department seeks suggestions on e-filing of I-T returns for the AY 2009-10 to make the e-filing website, software and functionalities more user-friendly and robust. Apart from general suggestions, specific suggestions on website look and feel, functionalities and facilities, white papers and technical papers are also welcome. Technical suggestions on XML schema, digital signatures, security, web services are also solicited. Suggestions and documents (in word format preferably) may be sent to efilingsuggestions@gmail.com .
While the legal profession in India is still weighing the pros and cons of opening up to foreign competition, chartered accountants have gone ahead and taken the plunge. The Institute of Chartered Accountants of India (ICAI) has signed an agreement with the Institute of Chartered Accountants in England and Wales (ICAEW), allowing both countries to recognise the qualification of CAs from the other country.
The recent planning and initiative of the Institute of Chartered Accountants of India (ICAI) are now directed to make India as a destination for accounting as well as auditing services. Apart from converging with the international financial reporting standards (IFRS) by April 1, 2011, it is now planning to convergence with the international auditing standards.
The world’s second-largest accountancy body, the Institute of Chartered Accountants of India (ICAI), is planning to launch a television channel to reach out to its 3.5-lakh students and 1.5-lakh professional members. Currently, ICAI airs four hour of interactive educational programme a day through IGNOU’s Gyandarshan channel.
The proposal will also include providing loans at below market rates to real estate developers. But the loan disbursed under this will come with a number of conditions like an upper ceiling on selling price of flats and individual homes.The government is considering a proposal to make home loans cheaper for consumers through interest subsidy, aiming to stimulate demand in the realty sector which has a spin-off effect on many industries like cement and steel, said a senior government official, who declined to be named.
The Department of Commerce has completed most of the procedures related to setting up special economic zones online to streamline various operations regarding these industrial enclaves.These steps will not only help the developers of the tax-free zones apply through a website but will enable them to track the status of their applications in real time.
THE financial meltdown is expected to bring new opportunities for chartered accountants as companies will seek better control over their finances. So, if BSchools are a worried lot and preferences are fast changing from finance to consulting, the CAs are in demand like never before. Also, as per the ICAI top brass, while the financial sector has been in a turmoil, there is no news of any CA being sacked by any company.
Following forms going to be revised with effect from 6th Dec. 08:- new version of Form 1AA, 1AD, 2, 3, 5, 8, 10, 15, 17, 19, 20, 20A, 21,22B, 23, 23AA, 23AAA, 23AAB, 23AAC, 23B, 23C, 24, 24A, 24AB, 24B, 25A,25B, 25C, 35A, 36, 37, 39, 44, 49, 52, 61, 62, 63, 64, 65, CAR, DD-B,DD-C, Form PT-II, Form I & Form II will be available on the Portal,effective December 7, 2008, (6.00 AM).
Dear Friends please find attached herewith format/form required for MVAT Audit in Maharashtra ie. form No. 704 in Excel Format, In Word Format and in PDF format released by the department. Download Form No. 704 along with schedules in Excel Format. Download Form No. 704 along with schedules in PDF Format
Tightening its belts, the income tax department has chalked out an intensive strategy on collections in the backdrop of slowing economy. Though, direct tax collections have been buoyant so far, the department is not taking any chances as the deadline for payment of the third installment of advance tax is drawing near.A meeting of senior level field officials of income tax department on Wednesday, that was called specially at the behest of revenue secretary PV Bhide, took stock of the state of collections and the strategy for the rest of fiscal.
