Accounting | Corporate Law Reporter

Note on New Procedure in Maharashtra for CST Forms

Sales Tax Department has changed the procedure for application of Declaration Forms w.e.f 01.02.2014 vide Circular No.4T of 2014 From M B Abhyankar mbabhyankar@gmail.com Existing Procedure for online applications upto 31.01.2014 Upto 31.01.14, the e-application form was simple and the dealer had to provide basic information such as TIN no. and Name of the dealer… Read More

Tags: Accounting, Business, Constitutional right, CST, Invoice, Sales tax, Tax, United States

Quarterly Advance Tax Payment :: Banks to remain open

All Designated Branches of Authorized Banks to Function on 14th and 15th September, 2013 (Saturday & Sunday) All designated branches of authorized banks have been asked to function on 14th and 15th September, 2013 (Saturday & Sunday) to accept advance tax payments. If any tax payer fails to pay the advance tax on 14th/15th September,… Read More

Tags: Accounting, Advance corporation tax, Income tax, Internal Revenue Service, Payment, Tax, Taxation

MCA & ICAI organises Accountancy & Commerce Education Summit

The Institute of Chartered Accountants of India (ICAI), functioning under the aegis of the Ministry of Corporate Affairs, organized ˜Accountancy & Commerce Education Summit™ here yesterday. The Summit provided a forum for exchange of thoughts and interaction on various areas of academic and practical interest such as the need for relevant course curriculum, method of… Read More

Tags: Accounting, chartered accountant, Company Secretary, Corporate Affairs Ministry, ICAI, India, Institute of Chartered Accountants of India, Law firm

Voluntary Compliance Encouragement Scheme for Service Tax Defaulters

The Service Tax Voluntary Compliance Encouragement Scheme (VCES) has been brought into effect from 10.05.2013 to encourage voluntary compliance and broaden the service tax base by waiver of interest, penalty and any other consequences to a stop filer, non-filer or non-registrant or any other service provider who is eligible to make declaration under the Scheme… Read More

Tags: 30th June 2014, 31st December 2013, Accounting, Lok Sabha, P. Chidambaram, Tax, Taxation in India, VCES

Revision of Clause 41 of Equity Listing Agreement

Discussion Paper on "Revision of Clause 41 of Equity Listing Agreement" Background: 1. Clause-41 of Equity Listing Agreement provides the framework for preparation, authentication and submission of Financial Results by listed companies. 2. Though sub-clauses of Clause-41 have been regularly updated as and when the need arose, revision of entire Clause-41 is proposed to be undertaken… Read More

Tags: Accounting, Business, Companies Act 1956, Equity Listing Agreement, Financial Results, Financial services, Public company, Sachin Pilot

Tax Deposit and Return Filing by newly registered dealers

GOVERNMENT OF NCT OF DELHI DEPARTMENT OF TRADE & TAXES POLICY BRANCH VYAPAR BHAWAN, NEW DELHI-110002 No.F.3(369)/Policy/VAT/2013/605-611 Date: 07.08.2013 CIRCULAR No. 12 OF 2013-14 Subject: Tax Deposit and Return Filing by newly registered dealers It has come to the notice of the department that Tax Identification Number (TIN) issued to the newly registered… Read More

Tags: Accounting, Commissioner, Delhi, Delhi Value Added Tax Rules, Government, India, NCT, New Delhi, Tax, Taxpayer Identification Number, Tin box, Value Added Tax, Value AddedTax, Vyapar Bhawan

CLR Urgent | Last Date of IT Filing of Returns Extended to 5th August, 2013

There is an unprecedented surge in number of returns being e-filed during this year. 92.03 lakh returns have been e-filed up to 30th July, 2013 which is 46.8 % higher than the returns e-filed during the corresponding period of the last fiscal year. Due to large number of taxpayers accessing e-filing website on due date… Read More

Tags: 31st July 2013, Accounting, Filing (legal), Glossary of patent legal concepts, Internet service provider, Tax, Tax Return, Taxation in India

IT Dept sends 35K more letters to non-filers

Income Tax Deptt. Sends Letters to Another Batch of 35,000 Non-Filers Tax Payers again urged to disclose their true Income and Pay Due Taxes As part of its ongoing initiative, the Income Tax Department has, on 22nd July, 2013 sent letters to another batch of 35,000 non filers. These persons were part of the around… Read More

Tags: Accounting, Departments of France, Income tax, Politics, Tax, Tax return (United States), Taxation, United States

DVAT – Dropping from audit proceedings in r/o dealers dealing exclusively in exempted/tax free items.

DEPARTMENT OF TRADE & TAXES VAT AUDIT BRANCH, 12TH FLOOR, VYAPAR SHAWAN, I.P. ESTATE, NEW DELHI NO.VAT AUDIT/HQ/2013-14/ 2920 - 2927 Dated: 24/07/2013 CIRCULAR The: V.AT Audit Branch, KCS Branch, Spl. Zone Branch and other Wards have been… Read More

Tags: Accounting, Business, Commissioner, Delhi, New Delhi, Spl. Zone Branch, Value Added Tax, Wards

Assessment of Charitable Trusts and Institutions

The Income-tax department has released a publication titled "Assessment of Charitable Trusts and Institutions". The publication explains the legal provisions and the procedural requirements for claiming exemption under the Income-tax Act, 1961 for charitable activities. Apart from explaining the concept of ˜Charitable Purposes™, the publication deals with the procedure for registration, assessment, denial of exemptions, incentives… Read More

Tags: Accounting, Charitable organization, Charitable trust, Finance Act, Politics, Tax, Taxation, United States

Government urges tax Payers to Disclose True income and pay Appropriate taxes within Current Financial Year

A Compliance Management Cell has been set-up to Ensure Follow-up Action and Track Return Filing and Tax Payment of the Target Segment; 70,000 Letters are being sent in 2 Batches to High Priority Cases in this Month. The Union Finance Minister Shri P. Chidambaram has repeatedly emphasized that there is need for a nonintrusive tax… Read More

Tags: Accounting, Government of India, Income tax, Income Tax Department, P. Chidambaram, Tax, tax returns (India)

KVAT issues guidelines for Refund of wrong e-payments made by dealers

GOVERNMENT OF KARNATAKA Department of Commercial Taxes No.CCW/CR.03 / 2012-13 Office of the Commissioner of Commercial Taxes in Karnataka Vanijya Therige Karyalaya, Gandhinagara, Bangalore-9 Dated 26.3.2013 To, All the Joint Commissioners of Commercial Taxes (Admn), VAT divisions in the State. Sir, Sub: Refund of wrong e-payments made by dealers-issue of guidelines-reg. This office is receiving… Read More

Tags: Accounting, Internal Revenue Service, Karnataka Value Added Tax, KVAT, Money back guarantee, Payment, Tax, Tax refund, Value Added Tax, VAT