tag:blogger.com,1999:blog-16173538259445146852024-03-05T03:45:25.780-08:00CA Final Unpluggedakashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.comBlogger36125tag:blogger.com,1999:blog-1617353825944514685.post-68026013284854210712013-03-01T07:32:00.000-08:002013-03-02T01:48:53.593-08:00Budget 2013-14: Highlights<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: Arial, Helvetica, sans-serif;">Walking a tight rope ahead of next year's General Elections, Finance Minister P Chidambaram on Thursday did not tinker with the </span><span style="font-family: Arial, Helvetica, sans-serif;"> Income Tax slab rates while presenting the union budget 2013-14 in Lok Shabha. As part of his tax proposals, he gave a benefit or Rs 2000 to individual tax payers with taxable income of up to Rs 5 lakh.</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">Chidambaram also imposed a surcharge of 10% on those earning over 1 crore in a year. This surcharge has been imposed on individuals, HUFs, firms and entities with a similar tax status. The surcharge would be payable for the 2013-14 fiscal only.</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">The Finance Minister announced that first-home buyer who takes a loan for an amount not exceeding Rs 25 lakh would be allowed an additional deduction of interest of Rs 1 lakh to be claimed in assessment year 2014-15 with spillover effect.</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">But in bad news for consumers, the Finance Minster made mobile phones, cigarettes and luxury vehicles costlier by hiking duties on these products.</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">Chidambaram also announced the setting up of Nirbhaya Fund for women safety and allocated Rs 1,000 crores to it.</span></div>
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In the earlier part of his speech, Chidambaram noted that the global economic growth has slowed, including that of India. He however added that high growth is a novelty and not beyond India's capacity.</div>
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<span style="font-family: Courier New, Courier, monospace; font-size: large;"><b>Highlights of Union Budget 2013-14</b></span><br />
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<tr><td align="left" bgcolor="#f5f5f5" height="29"><a href="http://exhibitcafinalunpluuged.blogspot.in/2013/03/blog-post.html" target="_blank">Personal Tax</a> </td><td align="left" bgcolor="#f5f5f5"><a href="http://exhibitcafinalunpluuged.blogspot.in/2013/03/budget-2013-14-highlights-corporate-tax.html" target="_blank">Corporate Tax</a> </td><td align="left" bgcolor="#f5f5f5"><a href="http://exhibitcafinalunpluuged.blogspot.in/2013/03/budget-2013-14-highlights-direct-tax.html" target="_blank">Direct Tax</a> </td></tr>
<tr><td align="left" bgcolor="#f5f5f5" height="29"><a href="http://exhibitcafinalunpluuged.blogspot.in/2013/03/indirect-tax-proposals-to-yield-47-bln.html" target="_blank">Indirect Tax</a></td><td align="left" bgcolor="#f5f5f5"><a href="http://exhibitcafinalunpluuged.blogspot.in/2013/03/blog-post_2.html" target="_blank">Tax Reforms</a></td><td align="left" bgcolor="#f5f5f5"><a href="http://exhibitcafinalunpluuged.blogspot.in/2013/03/budget-2013-14-highlights-growth.html" target="_blank">Growth, Inflation</a></td></tr>
<tr><td align="left" bgcolor="#f5f5f5" height="29"><a href="http://exhibitcafinalunpluuged.blogspot.in/2013/03/budget-2013-14-highlights-fiscal-health.html" target="_blank">Fiscal Health</a></td><td align="left" bgcolor="#f5f5f5"><a href="http://exhibitcafinalunpluuged.blogspot.in/2013/03/budget-2013-14-highlights-rural-social.html" target="_blank">Rural, Social Sector</a> </td><td align="left" bgcolor="#f5f5f5"><a href="http://exhibitcafinalunpluuged.blogspot.in/2013/03/budget-2013-14-highlights-agriculture.html" target="_blank">Agriculture, Food</a> </td></tr>
<tr><td align="left" bgcolor="#f5f5f5" height="29"><a href="http://exhibitcafinalunpluuged.blogspot.in/2013/03/budget-2013-14-highlights-financial.html" target="_blank">Financial Sector, Banks</a> </td><td align="left" bgcolor="#f5f5f5"><a href="http://exhibitcafinalunpluuged.blogspot.in/2013/03/budget-2013-14-highlights-infrastructure.html" target="_blank">Infrastructure</a></td><td align="left" bgcolor="#f5f5f5"><a href="http://exhibitcafinalunpluuged.blogspot.in/2013/03/budget-2013-14-highlights-subsidy.html" target="_blank">Subsidy</a></td></tr>
<tr><td align="left" bgcolor="#f5f5f5" height="29"><a href="http://exhibitcafinalunpluuged.blogspot.in/2013/03/budget-2013-14-highlights-estimates.html" target="_blank">Estimates</a></td><td align="left" bgcolor="#f5f5f5"><a href="http://exhibitcafinalunpluuged.blogspot.in/2013/03/budget-2013-14-highlights-miscellenous.html" target="_blank">Miscellaneous</a></td><td align="left" bgcolor="#f5f5f5"><br /></td></tr>
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akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com3tag:blogger.com,1999:blog-1617353825944514685.post-5547584080208051342013-02-17T21:38:00.002-08:002013-02-17T21:43:03.382-08:00Rules of Life<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgZE3sj6uJve7Iwosk_caKalImx76yJC7JzKCapkdy5MAvkKrb0EEC6peiUEKI-Z5bKMaL-mBDEL4CYst7h3hcj8tIobEujlnle0oMpSXf0hcZL1maRS5vv8K8GXaeZqwt_u0LEmSGwxTHG/s1600/life-rules-for-kids-1-4-3-5-6-7-8-9-3-2-1.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="212" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgZE3sj6uJve7Iwosk_caKalImx76yJC7JzKCapkdy5MAvkKrb0EEC6peiUEKI-Z5bKMaL-mBDEL4CYst7h3hcj8tIobEujlnle0oMpSXf0hcZL1maRS5vv8K8GXaeZqwt_u0LEmSGwxTHG/s400/life-rules-for-kids-1-4-3-5-6-7-8-9-3-2-1.png" width="400" /></a></div>
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LIFE HAS JUST ONLY THREE RULES :::::<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhhfYEQCgKhEyUY37Vi4q_LkEIzj2lYfhyM5UwG6xvRYiLgQm0Jo9qWyO00ptdMesgxc7qeEvawihEssdtzw64_QZuh1GDrfRN5VgHOYvju-88PxD3IXTCj0prlDFrtjvQmHSxklH8I2_cf/s1600/Sample+2.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="250" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhhfYEQCgKhEyUY37Vi4q_LkEIzj2lYfhyM5UwG6xvRYiLgQm0Jo9qWyO00ptdMesgxc7qeEvawihEssdtzw64_QZuh1GDrfRN5VgHOYvju-88PxD3IXTCj0prlDFrtjvQmHSxklH8I2_cf/s400/Sample+2.jpg" width="400" /></a></div>
<span style="text-align: justify;">></span><b style="text-align: justify;">PARADOX</b><span style="text-align: justify;">-Life is mystery, don't waste time trying figure it out.</span><br />
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><b>HUMOR-</b>Keep a sense of humor, especially about yourself. It is a strength beyond all measures.</div>
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><b>CHANGE-</b>Nothing stays the same.</div>
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akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com2tag:blogger.com,1999:blog-1617353825944514685.post-79696940611787080322013-02-17T21:28:00.002-08:002013-02-17T21:32:41.293-08:00Success is the Journey, Not the Destination<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhxrX9iX8Jd-TCGg8534fDqoRp8uMGHUHJUM_WGrZGSZtqcL4C-B1sU4jIiF1RZe6VIzP1YWOAneRkp7EzVbafcgGos8k63YyED1yQ1Nt8Wj83uZcl1XARHxDKPmH4Ad6OJXcYt2bs2crmn/s1600/life+is+adventure.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="180" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhxrX9iX8Jd-TCGg8534fDqoRp8uMGHUHJUM_WGrZGSZtqcL4C-B1sU4jIiF1RZe6VIzP1YWOAneRkp7EzVbafcgGos8k63YyED1yQ1Nt8Wj83uZcl1XARHxDKPmH4Ad6OJXcYt2bs2crmn/s320/life+is+adventure.jpg" width="320" /></a></div>
I constantly try to find '<b>ADVENTURE' </b>in my life.<br />
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Everyone tells me what to do and what's good for me. May be they are my true well wishers but when I thought about it, I realized, 'they don't want me to find my own answers, they want me to believe theirs'.<br />
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The only question I always had in my mind was 'What is the purpose of life ?'<br />
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And a consistent thought made me reach to answer it finally.<br />
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<b>The purpose is not to reach the destination but to experience and witness the beauty, the adventure of your journey towards destination. </b><br />
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When I look into past at these people, I think I answered it correctly.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjLPINuPg1VJhLtz6BsD1agAOiWJcaMGBucTC57cYW3VU5x8SHM-SMcDWr_IWCjLfJYXjxFlNhql8WHEovTRTxazVRKiejSfeUwddNdg3uAGe9cZiy7NqwdxDI9oobXsNj9zgyZh3qfPbmb/s1600/149949_10151538372592189_1324847915_n.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjLPINuPg1VJhLtz6BsD1agAOiWJcaMGBucTC57cYW3VU5x8SHM-SMcDWr_IWCjLfJYXjxFlNhql8WHEovTRTxazVRKiejSfeUwddNdg3uAGe9cZiy7NqwdxDI9oobXsNj9zgyZh3qfPbmb/s1600/149949_10151538372592189_1324847915_n.jpg" /></a><br />
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One thing they all had in common was that they all enjoyed their journey, they enjoyed their failure. They learnt from their failure.<br />
I am not talking about 'don't give up' thing but here I am talking about giving value to failure. Because it is not success which teaches you.<br />
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THE JOURNEY IS WHAT BRINGS US HAPPINESS NOT THE DESTINATION.</div>
akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com0tag:blogger.com,1999:blog-1617353825944514685.post-69802911463434739672013-02-14T22:44:00.001-08:002013-02-15T19:54:32.671-08:00Relvent Material For CA Final May'13 Examination<div dir="ltr" style="text-align: left;" trbidi="on">
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>>ICAI has recently published and updated new Practice Manual for all the eight subjects of CA Final, which contains the comprehensive set of questions from each chapter. I advise you to refer all the practice manual for May'13 examination.</div>
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DOWNLOAD PRACTICE MANUAL FROM THE FOLLOWING LINK.</div>
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VOLUME III OF EACH SUBJECT IS PRACTICE MANUAL</div>
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<u>Download Link</u></div>
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<a href="http://icai.org/post.html?post_id=5777" target="_blank">CA Final All Subjects Modules</a></div>
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>>Institute publish a "<b>Supplementary Study Material for Direct and Indirect Tax Law</b>" which contains all the amendments, circulars & notifications relevant for the examination along with examples.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgoNIVak_fUFJPErlC64hQGdTDo6OuSl6Xq6KPTIE9N7DSD3nrYM8duinkb1VwPhIChB86gwaL6qxVs77B7cUmKszPMAgvH5xG4DgebJmQSAw2TXGo3OMG7AwxyYN9_7f6OHsJTwei5TsvB/s1600/supplementary.JPG" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="235" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgoNIVak_fUFJPErlC64hQGdTDo6OuSl6Xq6KPTIE9N7DSD3nrYM8duinkb1VwPhIChB86gwaL6qxVs77B7cUmKszPMAgvH5xG4DgebJmQSAw2TXGo3OMG7AwxyYN9_7f6OHsJTwei5TsvB/s400/supplementary.JPG" width="400" /></a></div>
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It has been seen in the previous examinations that, there is a very high probability that those numeric examples given in supplementary study material for relevant 'amendments in finance act' and 'circulars & notification issued by CBDT and CBEC', comes in the exam held in May'13 as it is. So I recommend you <span style="text-align: left;">personally to refer the Supplementary Study Paper 2012 for Direct Tax Law and Indirect Tax Law for examination to be held in May'13 and November'13.</span></div>
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Download the Supplementary Study Material from following links :</div>
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1. <a href="http://220.227.161.86/28186bos17814dtl.pdf" target="_blank">Direct Tax Law - Supplementary Study Material 2012</a></div>
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2. <a href="http://220.227.161.86/28187bos17814idtl.pdf" target="_blank">Indirect Tax Law - Supplementary Study Material 2012</a></div>
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>>ICAI has issued "<b>SELECT CASE LAWS FOR DIRECT TAX & INDIRECT TAX LAW" </b>which are very important for the examination. In paper 7 and paper 8, it has been seen that almost 50-60 marks are covered from case laws from the institute publication. </div>
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I highly recommend you to mug up all the case laws from institute's publication. Download the same from the following links.</div>
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<b>Download Links:</b> </div>
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1. <a href="http://220.227.161.86/26941bos16384DTL.pdf" target="_blank">Direct Tax Law</a></div>
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2. <a href="http://220.227.161.86/26942bos16384IDTL.pdf" target="_blank">Indirect Tax Law</a></div>
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>>ICAI publish "<b>REVISION TEST PAPERS" </b>relevant for each examination. </div>
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Please click on the following link to go to download RTP for each subject, relevant for May'13 Examination.</div>
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<u>Download Link:</u><br />
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<a href="http://www.icai.org/post.html?post_id=3348" target="_blank">Revision Test Papers</a></div>
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akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com2tag:blogger.com,1999:blog-1617353825944514685.post-44147893683655014952012-12-14T23:57:00.001-08:002012-12-14T23:57:02.601-08:00What Life Is All About<div dir="ltr" style="text-align: left;" trbidi="on">
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Once upon a time, there was a girl who could do anything in the world she wanted. All she had to do was choose something and focus. So one day she sat down in front of a blank canvas and began to paint. Every stroke was more perfect than the next, slowly and gracefully converging to build a flawless masterpiece. And when she eventually finished painting, she stared proudly at her work and smiled.</div>
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It was obvious to the clouds and the stars, who were always watching over her, that she had a gift. She was an artist. And she knew it too. She felt it in every fiber of her being. But a few moments after she finished painting, she got anxious and quickly stood up. Because she realized that while she had the ability to do anything in the world she wanted to do, she was simply spending her time moving paint around on a piece of canvas.</div>
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She felt like there was so much more in the world to see and do – so many options. And if she ultimately decided to do something else with her life, then all the time she spent painting would be a waste. So she glanced at her masterpiece one last time, and walked out the door into the moonlight. And as she walked, she thought, and then she walked some more.</div>
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While she was walking, she didn’t notice the clouds and the stars in the sky who were trying to signal her, because she was preoccupied with an important decision she had to make. She had to choose one thing to do out of all the possibilities in the world. Should she practice medicine? Or design buildings? Or teach children? She was utterly stumped.</div>
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Twenty-five years later, the girl began to cry. Because she realized she had been walking for so long, and that over the years she had become so enamored by everything that she could do – the endless array of possibilities – that she hadn’t done anything meaningful at all. And she learned, at last, that life isn’t about possibility – anything is possible. Life is about making a decision – deciding to do something that moves you.</div>
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So the girl, who was no longer a girl, purchased some canvas and paint from a local craft store, drove to a nearby park, and began to paint. One stroke gracefully led into the next just as it had so many moons ago. And as she smiled, she continued painting through the day and into the night. Because she had finally made a decision. And there was still some time left to revel in the magic that life is all about.</div>
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<b>Source : marcandangel.com</b></div>
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akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com0tag:blogger.com,1999:blog-1617353825944514685.post-70401539813848971892012-12-13T18:47:00.000-08:002012-12-13T18:47:14.796-08:00New Cheque formats under New Cheque Truncation System introduced by RBI<div dir="ltr" style="text-align: left;" trbidi="on">
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<strong style="border: 0px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><span style="font-size: large;">Replace your old Cheque books</span></strong></div>
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<strong><span style="background: white; border: none windowtext 1.0pt; color: #555555; font-family: "Arial","sans-serif"; font-weight: normal; mso-border-alt: none windowtext 0cm; padding: 0cm;">he latest
directive RBI’s says that one may not be able to use the old cheques
with the implementation of the new Cheque Truncation System (CTS-2010) from
next year onwards. The CTS 2010, eliminates physical movement of cheques
for the purpose of clearing. Instead, only the electronic images of the
cheques, along with the key information, will be captured and transmitted for
clearing. This will make the clearing process faster, more efficient and
secure. However, in order to that being successful, patrons have to switch to
new cheques which have to be issued with prescribed standard features latest by
December 31.</span></strong></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg6iH2mL1Kv1_N3pWYjacn4fylDd3DxejJr5J4HBmsnphyAYg3syLCk2Wkc3jcBll8jV-GR_hULCE4_1Dif1LMXvQYSR8GJ89fKvkV0nsVTIJbp6pBs0WOkCsbLr6gRTlQUd_fwzrIbHYPx/s1600/New-chq-format.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em; text-align: justify;"><img border="0" height="291" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg6iH2mL1Kv1_N3pWYjacn4fylDd3DxejJr5J4HBmsnphyAYg3syLCk2Wkc3jcBll8jV-GR_hULCE4_1Dif1LMXvQYSR8GJ89fKvkV0nsVTIJbp6pBs0WOkCsbLr6gRTlQUd_fwzrIbHYPx/s400/New-chq-format.jpg" width="400" /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg6iH2mL1Kv1_N3pWYjacn4fylDd3DxejJr5J4HBmsnphyAYg3syLCk2Wkc3jcBll8jV-GR_hULCE4_1Dif1LMXvQYSR8GJ89fKvkV0nsVTIJbp6pBs0WOkCsbLr6gRTlQUd_fwzrIbHYPx/s1600/New-chq-format.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em; text-align: justify;"><br /></a></div>
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<span style="font-weight: normal;"><span style="color: #555555; font-family: "Arial","sans-serif";">
This means that if you haven’t received the new form of cheque books already,
then speak to your banks as early as you can. The replacement can be done using
the following methods:</span><span style="color: #555555; font-family: "Arial","sans-serif"; font-size: 14.0pt;"><o:p></o:p></span></span></div>
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<span style="font-weight: normal;"><span style="color: #555555; font-family: "Arial","sans-serif";">1. Send new cheque books by registered post and ask users to
cancel the old ones. Customers would or may be asked to show proof of the
cancellations, to the bank.</span></span></div>
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<span style="color: #555555; font-family: Arial, sans-serif; font-weight: normal; line-height: 18pt;">2. The Banks may also ask customers to surrender their older
cheques.</span></div>
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<span style="font-weight: normal;"><span style="color: #555555; font-family: "Arial","sans-serif";">3. Alternatively, the customers can also visit the banks
themselves and surrender their old cheques and receive the CTS-compliant ones.</span><span style="color: #555555; font-family: "Arial","sans-serif"; font-size: 14.0pt;"><o:p></o:p></span></span></div>
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<span style="font-weight: normal;"><span style="color: #555555; font-family: "Arial","sans-serif";">The Banks will not charge any replacement fee for this purpose.</span><span style="color: #555555; font-family: "Arial","sans-serif"; font-size: 14.0pt;"><o:p></o:p></span></span></div>
<div style="background-color: white; line-height: 18pt; margin: 0cm 0cm 0.0001pt; outline: 0px; text-align: justify; vertical-align: baseline;">
<span style="font-weight: normal;"><span style="outline: 0px;"><span style="border: none windowtext 1.0pt; color: #555555; font-family: "Arial","sans-serif"; mso-border-alt: none windowtext 0cm; padding: 0cm;">Handling
of EMIs: </span></span><span style="color: #555555; font-family: "Arial","sans-serif";">In the event of having issued post-dated cheques (PDCs) for
supporting any EMIs for loans, the customer will have to issue fresh
cheques to the service provider. The NBFCs who have accepted post-dated cheques
for future EMI payments from their customers, have to get them replaced with
new CTS-2010 standard compliant cheques latest by December 31, 2012. This will
be applicable to all banks as well.<span style="outline: 0px;"><span style="border: 1pt none windowtext; padding: 0cm;"> </span></span></span><span style="color: #555555; font-family: "Arial","sans-serif"; font-size: 14.0pt;"><o:p></o:p></span></span></div>
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<span style="font-weight: normal;"><span style="outline: 0px;"><span style="border: none windowtext 1.0pt; color: #555555; font-family: "Arial","sans-serif"; mso-border-alt: none windowtext 0cm; padding: 0cm;">Old
Cheque encashments: </span></span><span style="color: #555555; font-family: "Arial","sans-serif";">Any Cheque which is lying with you should be encashed and should
not be delayed. The payments will be honoured till 31st Decemeber 2012 only as
per the RBI mandate.</span><span style="color: #555555; font-family: "Arial","sans-serif"; font-size: 14.0pt;"><o:p></o:p></span></span></div>
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akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com1tag:blogger.com,1999:blog-1617353825944514685.post-68933649619655463702012-12-11T01:44:00.002-08:002012-12-11T01:44:42.100-08:00Save more in PF but take home less as Salary<div dir="ltr" style="text-align: left;" trbidi="on">
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EPFO Clubs Basic Pay and Allowances</h3>
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Source : TIMES OF INDIA</h4>
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<span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;">Mumbai: In a move that would increase savings of salaried employees
while cutting their take-home pay, the Employees Provident Fund Organization
has released a circular saying PF must be computed on the basis of basic pay
and all allowances being paid to the employee.</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"> </span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><br />
If EPFO insists on implementing the circular, the PF amount of employees would
go up at the cost of their take-home salary since most companies havebeen
computing PF contributions (at 12% each by the employer and employee) against
basic salary and dearness allowance only..</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"> </span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><br />
The circular dated November 30, 2012, was issued after internal review meetings
held in late November and has been forwarded to Employee Provident Fund offices
across India.</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"> </span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><br />
The definition of basic wages has long been a contentious issue, with PF
authorities claiming that companies split the basic wages into various
allowances to reduce the quantum of PF contributions.</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"> </span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><br />
The circular aims at addressing this issue.</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"> </span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><br />
<b>Reveal true income or face action: Govt</b></span><b><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"> </span></b><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><br />
The Centre on Monday issued a stern message to taxpayers, asking them to reveal
their true incomes and pay advance tax by December 15 or face action. Only
14.62 lakh individuals and corporates have disclosed taxable annual income
above Rs 10 lakh for the current fiscal, according to the finance ministry<a href="http://www.blogger.com/blogger.g?blogID=1617353825944514685"><span style="color: blue; mso-bidi-font-size: 11.0pt;">.</span></a> <a href="http://www.blogger.com/blogger.g?blogID=1617353825944514685"><span style="color: blue; mso-bidi-font-size: 11.0pt;">P</span></a> <a href="http://www.blogger.com/blogger.g?blogID=1617353825944514685"><span style="color: blue; mso-bidi-font-size: 11.0pt;">23</span></a> <b>HCs’ rulings
on basic pay behind EPFO move</b></span><b><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"> </span></b><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;">T</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"> </span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;">he EPFO circular states that basic wages will include all allowances
which are “ordinarily, necessarily and uniformly” paid to the employees. Thus,
various allowances such as conveyance, educational allowance, medical allowance
etc, will have to be taken into consideration while computing the PF
contribution.</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"> </span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><br />
Last year, the Madras high court and the MP high court in two separate cases
had held that allowances paid by the employer to employees under different
heads such as conveyance, education, food concession, medical, special
holidays, night shift incentives, city compensatory allowance etc, qualified as
basic wages under section 2(b) of the PF Act and needed to be included while
computing the PF contribution.</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"> </span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><br />
Based on these judgments, PF officials carried out audits on India Inc
andraised demands to recover the differential PF contributions. Later, pending
dismissal of the writ petitions filed by these companies, the audits were held
in abeyance.</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"> </span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><br />
“Following this circular, the PF officials may once again commence audits of
Indian companies to ascertain whether the PF contribution has been rightly
computed and deposited,” says Yatin Pathak, CA. Sonu Iyer, partner, Ernst and
Young, said there were ways to beat higher PF cuts. Proviso to paragraph 26A of
the PF scheme allows PF contributions by the employer and employees on a
maximum notional level of Rs 6,500 per month, instead of the entire salary
(including allowances). The rate remains the same at 12% each for the employer
and employee contributions respectively.</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"> </span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><br />
“Not many employers have opted for this route, as PF is part of the
employees cost to company and it also</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"> </span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;">gives a tax shield to
employees. Now, if the employer organization wishes to exercise this option and
computes PF contributions only against Rs 6,500 per month, it is not clear
whether the PF authorities will oblige,” Iyer explains.</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"> </span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><br />
Expatriate workers from India also have to contribute to PF, even if their
salary is paid outside India (unless they have exemption owing to a social
security arrangement with the country to which they have been deputed).</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"> </span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><br />
Unfortunately, for them, this notional limit of Rs 6,500 doesn’t apply. “If an
employer has expat workers, there is a higher likelihood of their being subject
to scrutiny by PF authorities,” adds Iyer. A similar matter is up for
interpretation before the Supreme Court, but until then, PF authorities are
likely to commence audits and raise demands on India Inc, based on the
circular.<o:p></o:p></span></div>
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akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com0tag:blogger.com,1999:blog-1617353825944514685.post-74323431691811262642012-11-24T06:25:00.001-08:002012-11-24T06:30:12.098-08:00Due date for payment of Service Tax and Late Payment Panelty<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjXKqGEM4LTXF7R35hLBo3uh8tdDUZDwHQgoOYOdmd4kywqpKMwbLEhHuOphoIy_pQKprU6uoTyoB31J_6VeFsA2DbGEVUfA6oUVOKI_O6NZxtUQMMznQdCujTtmdeTMH-5vOhrXf9MfXki/s1600/Income+Tax+return+Due+date+ay+2012-13.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjXKqGEM4LTXF7R35hLBo3uh8tdDUZDwHQgoOYOdmd4kywqpKMwbLEhHuOphoIy_pQKprU6uoTyoB31J_6VeFsA2DbGEVUfA6oUVOKI_O6NZxtUQMMznQdCujTtmdeTMH-5vOhrXf9MfXki/s1600/Income+Tax+return+Due+date+ay+2012-13.jpg" /></a></div>
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DUE DATE FOR PAYMENT OF SERVICE TAX</h2>
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As per the service tax rules framed by the Government of India, Payment of Service Tax should be made at regular intervals. The service tax collected by the service provider shall be paid to the credit of Central Government on a regular basis before the <i style="font-weight: bold;">due date for payment of service tax </i>and in case of late payment of service tax - interest shall also be payable on the late payment as prescribed.<br />
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In case you are still not sure about rates of service tax, you can check the current rates in force by referring here - <a href="http://exhibitcafinalunpluuged.blogspot.in/2012/11/service-tax-rates.html" target="_blank">Service Tax Rates</a>.</div>
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As per rule 6 of the service tax rules 1994, the due date for payment of service tax is separate for individual/partnership firms and others.</div>
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FOR INDIVIDUAL/ PARTNERSHIP FIRMS </h4>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjEP1OxaBYlIbCct0pUIZrZtBEzMm9fKrWajTIsfIUOkYOdEFC49UpDEoq1zE1-GxACf4LHAwTMF7EVZ38AIf4otCrKU2DKruhhTnZjKoDTJb-wYtSo9k4-tPmy8FZ75VRdy0xdZmhcLNuT/s1600/ecommerce-by-Website-Expert.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjEP1OxaBYlIbCct0pUIZrZtBEzMm9fKrWajTIsfIUOkYOdEFC49UpDEoq1zE1-GxACf4LHAwTMF7EVZ38AIf4otCrKU2DKruhhTnZjKoDTJb-wYtSo9k4-tPmy8FZ75VRdy0xdZmhcLNuT/s200/ecommerce-by-Website-Expert.jpg" width="200" /></a></div>
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The due date for payment of service tax in case of individual/partnership firm is 5th of the following quarter in which payment is received or service is provided whichever is earlier. However, in case the service tax provider opt for online payment, he is given a grace period of 1 days and thus the due date for payment of service tax is 6th of the following quarter.</div>
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FOR OTHERS</h4>
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For all service tax payers (except individuals and partnership firms), the DUE DATE for payment of service tax is 5th or 6th (Depending upon mode of payment) of the following month in which payment is collected or service is provided which ever is earlier. </div>
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</h2>
<div>
<br /></div>
<h2>
LATE PAYMENT OF SERVICE TAX</h2>
<div style="text-align: justify;">
In case there is late payment of service tax to the Central Government, the payment shall be made along with interest compounded @18% (Simple Interest). Earlier the interest rate on late payment of service tax was 13% but increased to 18% from 1st April, 2011.</div>
<div style="text-align: justify;">
<h3 style="text-align: left;">
OTHER RELEVANT POINT</h3>
</div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjogiPbLAGyZ4AAtEnJVk3ntzAJiOANXA8bLwhn0AFI0mHZTzs9XDPmcTAzSNc-bBSpIPzU-hpw5TsnF8M0KvgCE-XlSpxP_K20KVdtsrOeOojx3d98pt_-1His98D6OVX1eBLeTNXOrVwC/s1600/document-left-img.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjogiPbLAGyZ4AAtEnJVk3ntzAJiOANXA8bLwhn0AFI0mHZTzs9XDPmcTAzSNc-bBSpIPzU-hpw5TsnF8M0KvgCE-XlSpxP_K20KVdtsrOeOojx3d98pt_-1His98D6OVX1eBLeTNXOrVwC/s320/document-left-img.jpg" width="301" /></a></div>
<h3 style="text-align: justify;">
</h3>
<div>
<ol style="text-align: left;">
<li style="text-align: justify;">If there is excess payment is made by mistake or due to any other reason, the excess amount paid may be adjusted against the service tax liability in the coming period or may claim refund of service tax if self adjustment is not possible.</li>
<li style="text-align: justify;">If any person liable to pay service tax has collected an amount is excess of the amount due from the service recipient, the whole of such amount collected in excess shall be deposited with central Government.</li>
<li style="text-align: justify;">If the payment is made by way of cheque, the date of payment of service tax shall be the date of cheque rather than the date of clearing of cheque. </li>
</ol>
</div>
<div style="text-align: justify;">
<br /></div>
</div>
akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com38tag:blogger.com,1999:blog-1617353825944514685.post-14251155677092090342012-11-24T02:35:00.002-08:002012-11-24T02:35:26.546-08:00Due dates for filing of TDS/TCS returns<div dir="ltr" style="text-align: left;" trbidi="on">
<table border="0" cellpadding="2" cellspacing="0" style="background-color: #bef078; color: black; font-family: Arial, Helvetica, sans-serif; font-size: 11px; text-align: start; width: 100%px;"><tbody>
<tr><td>Due dates for filing of TDS/TCS returns are as below:<br />[Subject to Extension by the CBDT for specific quarters of a particular FY]<br />
<br />
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%px;"><tbody>
<tr><td><table border="1" bordercolor="#666666" cellpadding="0" cellspacing="0" style="width: 100%px;"><tbody>
<tr><td bgcolor="#E9FAD1" valign="top"><strong>Quarter</strong></td><td bgcolor="#E9FAD1" valign="top"><div align="center">
<strong>Form Nos. 24Q & 26Q</strong></div>
</td><td bgcolor="#E9FAD1" valign="top"><div align="center">
<strong>Form No. 27Q</strong></div>
</td><td bgcolor="#E9FAD1" valign="top"><div align="center">
<strong>Form No. 27EQ</strong></div>
</td></tr>
<tr><td valign="top">April to June</td><td valign="top">15 July</td><td valign="top">15 July</td><td valign="top">15 July</td></tr>
<tr><td valign="top">July to September</td><td valign="top">15 October</td><td valign="top">15 October</td><td valign="top">15 October</td></tr>
<tr><td valign="top">October to December</td><td valign="top">15 January</td><td valign="top">15 January</td><td valign="top">15 January</td></tr>
<tr><td valign="top">January to March</td><td valign="top">15 May</td><td valign="top">15 May</td><td valign="top">15 May</td></tr>
</tbody></table>
</td></tr>
</tbody></table>
<strong>Late filing consequences</strong><br />
Following are the consequences for delayed filing of TDS returns.<br />
<ol start="1" type="1">
<li>There is a penalty provision of Rs 100 per day, for delayed filing of Quarterly statement under TDS or TCS.</li>
<li>The filing and thereby consequences are treated separately for Form 24Q, 26Q, 27Q and 27EQ.</li>
</ol>
</td></tr>
<tr></tr>
</tbody></table>
</div>
akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com1tag:blogger.com,1999:blog-1617353825944514685.post-60961468342263640722012-11-23T07:41:00.001-08:002012-11-24T05:33:20.176-08:00Advance Tax Payment : Due Date and Interest on Late Payment<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg7tbYZkZYe6LNtZh3AKt5xkdqdJXzJYDNDWhUq1shGCoKqsmYo1r07nb_HyZk1gYm7_LkMP5yZ9TsES9l_kthlNe5VDKL7cjIw1g81Dss_s3eYk3R3F5pFPWBxXHssHOd2XwjVeLoajJD2/s1600/Advance_Tax_Big.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg7tbYZkZYe6LNtZh3AKt5xkdqdJXzJYDNDWhUq1shGCoKqsmYo1r07nb_HyZk1gYm7_LkMP5yZ9TsES9l_kthlNe5VDKL7cjIw1g81Dss_s3eYk3R3F5pFPWBxXHssHOd2XwjVeLoajJD2/s320/Advance_Tax_Big.jpg" width="217" /></a></div>
<br />
<div style="text-align: justify;">
If the income tax liability of any assessee is more than Rs.10,000.00 in any financial year, then he is liable to pay such tax in installments during the year itself rather than paying this tax at the end of the year. This tax which is payable during the year is called <b>"Advance Tax" </b> or pay as you earn tax as tax is liable to be paid at the time of income to be earned, i.e. during the year rather than paying this tax at the end of the year.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Advance tax receipts help the government to receive the constant flow of tax receipt throughout the year, so that expenses can be incurred rather than receiving all tax payments at the end of year. Advance tax liable to be paid by all assessee like Salaried, Self Employed, Businessman, etc. before the filling of Income Tax Return.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
For the Individuals with the salary as the sole source of income, advance tax would be taken care of by the <i>TDS deducted by the employer at the time of payment of salaries as reflected in form 16 </i>and thus there would hardly be any advance tax payable.For all assessee earning income from any source other than salary, advance tax is payable in installments as explained below.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>PAYMENT OF ADVANCE TAX</b></div>
<div style="text-align: justify;">
<b><br /></b></div>
<div style="text-align: justify;">
Advance tax is liable to be paid as per the following schedule :</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiPiKSdxGsDvehurF521mLRRnOJ7VkoXKlAm69_s22XhQUwiZ6o0z4HN3rDMxafyw-6FbtDA6D-A_MhEHiQakgaYg1Nm9pxf1gZRLKnwEY1cSax1X6DV5Z3HAk0gKu3cgKRbxCXGTEL_N9Y/s1600/advance+tax.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiPiKSdxGsDvehurF521mLRRnOJ7VkoXKlAm69_s22XhQUwiZ6o0z4HN3rDMxafyw-6FbtDA6D-A_MhEHiQakgaYg1Nm9pxf1gZRLKnwEY1cSax1X6DV5Z3HAk0gKu3cgKRbxCXGTEL_N9Y/s320/advance+tax.jpg" width="296" /></a><br />
<table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 394px;">
<colgroup><col style="mso-width-alt: 4973; mso-width-source: userset; width: 102pt;" width="136"></col>
<col style="mso-width-alt: 9435; mso-width-source: userset; width: 194pt;" width="258"></col>
</colgroup><tbody>
<tr height="20" style="height: 15.0pt;">
<td class="xl67" colspan="2" height="20" style="height: 15.0pt; width: 296pt;" width="394"><b>Assessee
other than Companies</b></td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td class="xl65" height="20" style="background-color: #4f81bd; background-position: initial initial; background-repeat: initial initial; border-bottom-color: white; border-bottom-width: 1.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: white; font-family: Calibri; font-size: 11pt; font-weight: 700; height: 15pt; text-underline-style: none;">Due Date</td>
<td class="xl65" style="background-color: #4f81bd; background-position: initial initial; background-repeat: initial initial; border-bottom-color: white; border-bottom-width: 1.5pt; border-style: none none solid; color: white; font-family: Calibri; font-size: 11pt; font-weight: 700; text-underline-style: none;">Amount Payable</td>
</tr>
<tr height="60" style="height: 45.0pt; mso-height-source: userset;">
<td class="xl66" height="60" style="background-color: #b8cce4; background-position: initial initial; background-repeat: initial initial; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; font-family: Calibri; font-size: 11pt; height: 45pt; text-underline-style: none; width: 102pt;" width="136">On or before 15th September</td>
<td class="xl66" style="background-color: #b8cce4; background-position: initial initial; background-repeat: initial initial; border-bottom-color: white; border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; text-underline-style: none; width: 194pt;" width="258">Not
less than 30% of the advance tax liability</td>
</tr>
<tr height="60" style="height: 45.0pt; mso-height-source: userset;">
<td class="xl66" height="60" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; font-family: Calibri; font-size: 11pt; height: 45pt; text-underline-style: none; width: 102pt;" width="136">On or before 15th December</td>
<td class="xl66" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: white; border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; text-underline-style: none; width: 194pt;" width="258">Not
less than 60% of the advance tax liability as reduced by the amount if any,
paid in earlier installment</td>
</tr>
<tr height="60" style="height: 45.0pt; mso-height-source: userset;">
<td class="xl66" height="60" style="background-color: #b8cce4; background-position: initial initial; background-repeat: initial initial; border-right-color: white; border-right-width: 0.5pt; border-style: none solid none none; font-family: Calibri; font-size: 11pt; height: 45pt; text-underline-style: none; width: 102pt;" width="136">On or before 15th March</td>
<td class="xl66" style="background-color: #b8cce4; background-position: initial initial; background-repeat: initial initial; font-family: Calibri; font-size: 11pt; text-underline-style: none; width: 194pt;" width="258">100% of
the advance tax liability as reduced by the amount if any, paid in earlier
installment</td>
</tr>
</tbody></table>
</div>
<br />
<table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 394px;">
<colgroup><col style="mso-width-alt: 4973; mso-width-source: userset; width: 102pt;" width="136"></col>
<col style="mso-width-alt: 9435; mso-width-source: userset; width: 194pt;" width="258"></col>
</colgroup><tbody>
<tr height="20" style="height: 15.0pt;">
<td class="xl67" colspan="2" height="20" style="height: 15.0pt; width: 296pt;" width="394"><b>In
case of Companies</b></td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td class="xl65" height="20" style="background-color: #4f81bd; background-position: initial initial; background-repeat: initial initial; border-bottom-color: white; border-bottom-width: 1.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; color: white; font-family: Calibri; font-size: 11pt; font-weight: 700; height: 15pt; text-underline-style: none;">Due Date</td>
<td class="xl65" style="background-color: #4f81bd; background-position: initial initial; background-repeat: initial initial; border-bottom-color: white; border-bottom-width: 1.5pt; border-style: none none solid; color: white; font-family: Calibri; font-size: 11pt; font-weight: 700; text-underline-style: none;">Amount Payable</td>
</tr>
<tr height="40" style="height: 30.0pt;">
<td class="xl66" height="40" style="background-color: #b8cce4; background-position: initial initial; background-repeat: initial initial; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; font-family: Calibri; font-size: 11pt; height: 30pt; text-underline-style: none; width: 102pt;" width="136">On or before 15th June</td>
<td class="xl66" style="background-color: #b8cce4; background-position: initial initial; background-repeat: initial initial; border-bottom-color: white; border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; text-underline-style: none; width: 194pt;" width="258">Not
less than 15% of the advance tax liability</td>
</tr>
<tr height="60" style="height: 45.0pt; mso-height-source: userset;">
<td class="xl66" height="60" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; font-family: Calibri; font-size: 11pt; height: 45pt; text-underline-style: none; width: 102pt;" width="136">On or before 15th September</td>
<td class="xl66" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: white; border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; text-underline-style: none; width: 194pt;" width="258">Not
less than 45% of the advance tax liability as reduced by the amount if any,
paid in earlier installment</td>
</tr>
<tr height="60" style="height: 45.0pt; mso-height-source: userset;">
<td class="xl66" height="60" style="background-color: #b8cce4; background-position: initial initial; background-repeat: initial initial; border-bottom-color: white; border-bottom-width: 0.5pt; border-right-color: white; border-right-width: 0.5pt; border-style: none solid solid none; font-family: Calibri; font-size: 11pt; height: 45pt; text-underline-style: none; width: 102pt;" width="136">On or before 15th December</td>
<td class="xl66" style="background-color: #b8cce4; background-position: initial initial; background-repeat: initial initial; border-bottom-color: white; border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; text-underline-style: none; width: 194pt;" width="258">Not
less than 75% of the advance tax liability as reduced by the amount if any,
paid in earlier installment</td>
</tr>
<tr height="60" style="height: 45.0pt; mso-height-source: userset;">
<td class="xl66" height="60" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-right-color: white; border-right-width: 0.5pt; border-style: none solid none none; font-family: Calibri; font-size: 11pt; height: 45pt; text-underline-style: none; width: 102pt;" width="136">On or before 15th March</td>
<td class="xl66" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; font-family: Calibri; font-size: 11pt; text-underline-style: none; width: 194pt;" width="258">100% of
the advance tax liability as reduced by the amount if any, paid in earlier
installment<span style="background-color: transparent;"> </span></td></tr>
</tbody></table>
<br />
Payment of advance Income tax is to be made through Callan no. 280 by selecting advance tax (100) as the type of payment.<br />
<br />
<br />
<b>COMPUTATION OF ADVANCE TAX</b><br />
<br />
Advance tax is liable to be paid by estimating the current year income and then applying the tax rates as per the Income Tax Slabs in force. The Advance tax shall be computed as under :<br />
<br />
<table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 510px;">
<colgroup><col style="mso-width-alt: 2816; mso-width-source: userset; width: 58pt;" width="77"></col>
<col style="mso-width-alt: 13202; mso-width-source: userset; width: 271pt;" width="361"></col>
<col style="mso-width-alt: 2633; mso-width-source: userset; width: 54pt;" width="72"></col>
</colgroup><tbody>
<tr height="20" style="height: 15.0pt;">
<td class="xl65" height="20" style="background-color: #4f81bd; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-left-color: rgb(149, 179, 215); border-left-width: 0.5pt; border-style: solid none solid solid; border-top-color: rgb(149, 179, 215); border-top-width: 0.5pt; color: white; font-family: Calibri; font-size: 11pt; font-weight: 700; height: 15pt; text-underline-style: none; width: 58pt;" width="77">Add/Less</td>
<td class="xl67" style="background-color: #4f81bd; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-style: solid none; border-top-color: rgb(149, 179, 215); border-top-width: 0.5pt; color: white; font-family: Calibri; font-size: 11pt; font-weight: 700; text-underline-style: none; width: 271pt;" width="361">Particular</td>
<td class="xl65" style="background-color: #4f81bd; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-right-color: rgb(149, 179, 215); border-right-width: 0.5pt; border-style: solid solid solid none; border-top-color: rgb(149, 179, 215); border-top-width: 0.5pt; color: white; font-family: Calibri; font-size: 11pt; font-weight: 700; text-underline-style: none; width: 54pt;" width="72">Amount</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-left-color: rgb(149, 179, 215); border-left-width: 0.5pt; border-style: none none solid solid; font-family: Calibri; font-size: 11pt; height: 15pt; text-underline-style: none;"></td>
<td class="xl66" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; text-underline-style: none;">Income under 5
heads</td>
<td class="xl65" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-right-color: rgb(149, 179, 215); border-right-width: 0.5pt; border-style: none solid solid none; font-family: Calibri; font-size: 11pt; text-underline-style: none;">xxx</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-left-color: rgb(149, 179, 215); border-left-width: 0.5pt; border-style: none none solid solid; font-family: Calibri; font-size: 11pt; height: 15pt; text-underline-style: none;">Less:</td>
<td class="xl66" style="border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; text-underline-style: none;">Brought Forward losses and allowance</td>
<td class="xl65" style="border-right-color: rgb(149, 179, 215); border-right-width: 0.5pt; border-style: none solid none none; font-family: Calibri; font-size: 11pt; text-underline-style: none;">xxx</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-left-color: rgb(149, 179, 215); border-left-width: 0.5pt; border-style: none none solid solid; font-family: Calibri; font-size: 11pt; height: 15pt; text-underline-style: none;"></td>
<td class="xl68" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; font-weight: 700; text-underline-style: none;">Gross total
Income</td>
<td class="xl70" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-right-color: rgb(149, 179, 215); border-right-width: 0.5pt; border-style: solid solid solid none; border-top-color: windowtext; border-top-width: 0.5pt; font-family: Calibri; font-size: 11pt; font-weight: 700; text-underline-style: none;">xxx</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-left-color: rgb(149, 179, 215); border-left-width: 0.5pt; border-style: none none solid solid; font-family: Calibri; font-size: 11pt; height: 15pt; text-underline-style: none;">Less:</td>
<td class="xl66" style="border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; text-underline-style: none;">Chapter VI-A Deduction</td>
<td class="xl65" style="border-right-color: rgb(149, 179, 215); border-right-width: 0.5pt; border-style: none solid none none; font-family: Calibri; font-size: 11pt; text-underline-style: none;">xxx</td>
</tr>
<tr height="21" style="height: 15.75pt;">
<td height="21" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-left-color: rgb(149, 179, 215); border-left-width: 0.5pt; border-style: none none solid solid; font-family: Calibri; font-size: 11pt; height: 15.75pt; text-underline-style: none;"></td>
<td class="xl68" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; font-weight: 700; text-underline-style: none;">Estimated Total
Income</td>
<td class="xl71" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: windowtext; border-bottom-width: 2pt; border-right-color: rgb(149, 179, 215); border-right-width: 0.5pt; border-style: solid solid double none; border-top-color: windowtext; border-top-width: 0.5pt; font-family: Calibri; font-size: 11pt; font-weight: 700; text-underline-style: none;">xxx</td>
</tr>
<tr height="21" style="height: 15.75pt;">
<td height="21" style="border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-left-color: rgb(149, 179, 215); border-left-width: 0.5pt; border-style: none none solid solid; font-family: Calibri; font-size: 11pt; height: 15.75pt; text-underline-style: none;"></td>
<td class="xl66" style="border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; text-underline-style: none;"></td>
<td class="xl65" style="border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-right-color: rgb(149, 179, 215); border-right-width: 0.5pt; border-style: none solid solid none; font-family: Calibri; font-size: 11pt; text-underline-style: none;"></td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-left-color: rgb(149, 179, 215); border-left-width: 0.5pt; border-style: none none solid solid; font-family: Calibri; font-size: 11pt; height: 15pt; text-underline-style: none;"></td>
<td class="xl68" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; font-weight: 700; text-underline-style: none;">Tax on
Estimated total income</td>
<td class="xl69" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-right-color: rgb(149, 179, 215); border-right-width: 0.5pt; border-style: none solid solid none; font-family: Calibri; font-size: 11pt; font-weight: 700; text-underline-style: none;">xxx</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-left-color: rgb(149, 179, 215); border-left-width: 0.5pt; border-style: none none solid solid; font-family: Calibri; font-size: 11pt; height: 15pt; text-underline-style: none;">Add:</td>
<td class="xl66" style="border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; text-underline-style: none;">Surcharge (if any)</td>
<td class="xl65" style="border-right-color: rgb(149, 179, 215); border-right-width: 0.5pt; border-style: none solid none none; font-family: Calibri; font-size: 11pt; text-underline-style: none;">xxx</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-left-color: rgb(149, 179, 215); border-left-width: 0.5pt; border-style: none none solid solid; font-family: Calibri; font-size: 11pt; height: 15pt; text-underline-style: none;"></td>
<td class="xl68" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; font-weight: 700; text-underline-style: none;">Total tax
Payable</td>
<td class="xl70" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-right-color: rgb(149, 179, 215); border-right-width: 0.5pt; border-style: solid solid solid none; border-top-color: windowtext; border-top-width: 0.5pt; font-family: Calibri; font-size: 11pt; font-weight: 700; text-underline-style: none;">xxx</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-left-color: rgb(149, 179, 215); border-left-width: 0.5pt; border-style: none none solid solid; font-family: Calibri; font-size: 11pt; height: 15pt; text-underline-style: none;">Less:</td>
<td class="xl66" style="border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; text-underline-style: none;">Relief U/S 89</td>
<td class="xl65" style="border-right-color: rgb(149, 179, 215); border-right-width: 0.5pt; border-style: none solid none none; font-family: Calibri; font-size: 11pt; text-underline-style: none;">xxx</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td class="xl72" height="20" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-left-color: rgb(149, 179, 215); border-left-width: 0.5pt; border-style: none none solid solid; font-family: Calibri; font-size: 11pt; font-weight: 700; height: 15pt; text-underline-style: none;"></td>
<td class="xl68" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; font-weight: 700; text-underline-style: none;">Tax Liability</td>
<td class="xl70" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-right-color: rgb(149, 179, 215); border-right-width: 0.5pt; border-style: solid solid solid none; border-top-color: windowtext; border-top-width: 0.5pt; font-family: Calibri; font-size: 11pt; font-weight: 700; text-underline-style: none;">xxx</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-left-color: rgb(149, 179, 215); border-left-width: 0.5pt; border-style: none none solid solid; font-family: Calibri; font-size: 11pt; height: 15pt; text-underline-style: none;">Add:</td>
<td class="xl66" style="border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; text-underline-style: none;">2% Education Cess</td>
<td class="xl65" style="border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-right-color: rgb(149, 179, 215); border-right-width: 0.5pt; border-style: none solid solid none; font-family: Calibri; font-size: 11pt; text-underline-style: none;">xxx</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-left-color: rgb(149, 179, 215); border-left-width: 0.5pt; border-style: none none solid solid; font-family: Calibri; font-size: 11pt; height: 15pt; text-underline-style: none;">Add:</td>
<td class="xl66" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; text-underline-style: none;">1% SAHEC</td>
<td class="xl65" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-right-color: rgb(149, 179, 215); border-right-width: 0.5pt; border-style: none solid none none; font-family: Calibri; font-size: 11pt; text-underline-style: none;">xxx</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-left-color: rgb(149, 179, 215); border-left-width: 0.5pt; border-style: none none solid solid; font-family: Calibri; font-size: 11pt; height: 15pt; text-underline-style: none;"></td>
<td class="xl68" style="border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; font-weight: 700; text-underline-style: none;">Total tax Liability</td>
<td class="xl70" style="border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-right-color: rgb(149, 179, 215); border-right-width: 0.5pt; border-style: solid solid solid none; border-top-color: windowtext; border-top-width: 0.5pt; font-family: Calibri; font-size: 11pt; font-weight: 700; text-underline-style: none;">xxx</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-left-color: rgb(149, 179, 215); border-left-width: 0.5pt; border-style: none none solid solid; font-family: Calibri; font-size: 11pt; height: 15pt; text-underline-style: none;">Less:</td>
<td class="xl66" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; text-underline-style: none;">Relief u/s 90,
90A, 91</td>
<td class="xl65" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-right-color: rgb(149, 179, 215); border-right-width: 0.5pt; border-style: none solid solid none; font-family: Calibri; font-size: 11pt; text-underline-style: none;">xxx</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-left-color: rgb(149, 179, 215); border-left-width: 0.5pt; border-style: none none solid solid; font-family: Calibri; font-size: 11pt; height: 15pt; text-underline-style: none;">Less:</td>
<td class="xl66" style="border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; text-underline-style: none;">MAT Credit u/s 115JA</td>
<td class="xl65" style="border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-right-color: rgb(149, 179, 215); border-right-width: 0.5pt; border-style: none solid solid none; font-family: Calibri; font-size: 11pt; text-underline-style: none;">xxx</td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td height="20" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-left-color: rgb(149, 179, 215); border-left-width: 0.5pt; border-style: none none solid solid; font-family: Calibri; font-size: 11pt; height: 15pt; text-underline-style: none;">Less:</td>
<td class="xl66" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; text-underline-style: none;">TDS as shown in
form 16/16A and reflected in form 26AS</td>
<td class="xl65" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-right-color: rgb(149, 179, 215); border-right-width: 0.5pt; border-style: none solid none none; font-family: Calibri; font-size: 11pt; text-underline-style: none;">xxx</td>
</tr>
<tr height="21" style="height: 15.75pt;">
<td height="21" style="border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-left-color: rgb(149, 179, 215); border-left-width: 0.5pt; border-style: none none solid solid; font-family: Calibri; font-size: 11pt; height: 15.75pt; text-underline-style: none;"></td>
<td class="xl68" style="border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; font-weight: 700; text-underline-style: none;">Advance Tax Liability</td>
<td class="xl71" style="border-bottom-color: windowtext; border-bottom-width: 2pt; border-right-color: rgb(149, 179, 215); border-right-width: 0.5pt; border-style: solid solid double none; border-top-color: windowtext; border-top-width: 0.5pt; font-family: Calibri; font-size: 11pt; font-weight: 700; text-underline-style: none;">xxx</td>
</tr>
<tr height="21" style="height: 15.75pt;">
<td height="21" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-left-color: rgb(149, 179, 215); border-left-width: 0.5pt; border-style: none none solid solid; font-family: Calibri; font-size: 11pt; height: 15.75pt; text-underline-style: none;"></td>
<td class="xl66" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-style: none none solid; font-family: Calibri; font-size: 11pt; text-underline-style: none;"></td>
<td class="xl65" style="background-color: #dbe5f1; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(149, 179, 215); border-bottom-width: 0.5pt; border-right-color: rgb(149, 179, 215); border-right-width: 0.5pt; border-style: none solid solid none; font-family: Calibri; font-size: 11pt; text-underline-style: none;"></td>
</tr>
</tbody></table>
<br />
<br />
<br />
<b>PAYMENT OF ADVANCE TAX IN CASE OF CAPITAL GAINS</b><br />
<div style="text-align: justify;">
<b><br /></b></div>
<div style="text-align: justify;">
Although <i>Advance tax </i>is liable to be paid on all incomes including <i style="font-weight: bold;">Capital Gains. </i>It is not practically possible to estimate the capital gains which may arise in an year. Therefore, in such cases, it is provided that if any such income arises after the due date of any installment, then the entire amount of tax payable on such capital gain (after claiming exemption under section 54) shall be paid in remaining installments of capital gains which are due. If the entire amount of tax payable is so paid, then no interest on late payment will be leviable.</div>
<br />
<b>INTEREST ON LATE PAYMENT OF ADVANCE TAX</b><br />
<b><br /></b>
If the income tax is not payable as per the above schedule, interest is liable to be paid late payment of advance tax as follows :<br />
<br />
<div style="text-align: justify;">
</div>
<ol>
<li><b>Interest under section 234C</b> - Interest @ 1% p.m. is payable if the tax is not paid as per the above schedule, i.e. for Deferment of advance tax.</li>
<li><b>Interest under section 234B - </b>Interest @ 1% p.m. is payable if 90% of the tax is not paid before the end of the financial year, i.e. default in payment of advance tax.</li>
</ol>
<div>
For computing interest u/s 234A/B/C and any other interest income, Tax shall be rounded off to nearest hundred and fraction of hundred shall be ignored.</div>
<div>
<br /></div>
<div>
IN CASE ADVANCE TAX PAID BY ASSESSEE IS MORE THAN HIS ACTUAL INCOME TAX LIABILITY, THEN HE CAN CLAIM REFUND OF INCOME TAX BY FURNISHING HIS INCOME TAX RETURN.</div>
</div>
akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com0tag:blogger.com,1999:blog-1617353825944514685.post-37931007242122613572012-11-23T04:57:00.000-08:002012-11-23T04:57:02.816-08:00Tax on Interest on Saving Bank Account<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj3e0e8uVnDsR7UAo8lJObUd6b23ClF0iHU87lj4SoPdnH-fZTHA_AZ-xLhAL0cf5TiEJrsZinZ5vOhz6y8FHONa6H4NJo2lSyU4XNliV5HjsEtMJ9xOSU2iIFjtu5NQJA7n4_9DzLpiZCL/s1600/1279444414RXgNb2.jpg" imageanchor="1" style="clear: left; display: inline !important; margin-bottom: 1em; margin-right: 1em; text-align: center;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj3e0e8uVnDsR7UAo8lJObUd6b23ClF0iHU87lj4SoPdnH-fZTHA_AZ-xLhAL0cf5TiEJrsZinZ5vOhz6y8FHONa6H4NJo2lSyU4XNliV5HjsEtMJ9xOSU2iIFjtu5NQJA7n4_9DzLpiZCL/s320/1279444414RXgNb2.jpg" width="268" /></a><br />
<br />
<b>INTEREST ON SAVING BANK ACCOUNT</b><br />
<b><br /></b>
Earlier the interest on saving bank account were fixed by the RBI and was 4% p.a. These interest rate were controlled by RBI and all banks were required to pay the same interest rate irrespective of the amount of money kept in the bank.<br />
<br />
But on 25th October'11 RBI regularized the system of fixing the interest rates. This de-regularization meant that all banks were now <i>free to fix the interest rate</i>s to be paid.This lead to different banks paid different rates and this is how this should be in a free economy.<br />
<br />
Moreover, RBI stated that Banks can also opt for the option of paying <i>differential interest rates, i.e. </i>it can pay <i>differential interest rates </i>if the amount is less than Rs.100,000.00 and a different interest for amount over Rs.100,000.00<br />
<br />
After this announcement of <b>de-regularization </b>of interest rates, different banks have started paying different interest rates. To attract more customers to open saving bank account in their banks, banks have also started paying high interest on saving bank account which has ultimately benefit to customer. From 4% p.a. being paid on saving bank account prior to the de-regularization, the interest rates have shot up considerably with some banks paying as high as <b><i>6-7% p.a.</i></b><br />
<b><i><br /></i></b>
<b>COMPUTATION OF INTEREST ON SAVING BANK ACCOUNT</b><br />
<b><br /></b>
Another change which has come after this de-regularization of interest rates is in the manner of computation of interest. Earlier interest was paid on the minimum balance kept in the bank during the month. Thus, if you have Rs.90,000.00 in your bank account for the whole month and for 1 day balance is Rs.10,000.00, you would be paid interest only on Rs.10,000.00 and not on Rs.90,000.00.<br />
<br />
But now this has changed and the <i>interest is paid on a daily basis on the end of day balance </i>in the account. This has again benefited the customer as they would now be earning more interest not only due to higher interest rates but also due to change in the manner of computation.<br />
<br />
<b>TAX ON INTEREST ON SAVING ACCOUNT</b><br />
<b><br /></b>
The <i>interest earned on saving bank account </i>was earlier taxable as per the slab rates. But w.e.t 1st April'12 an amendment has been brought in the <i>Income Tax Act </i>and a deduction of Rs.10,000.00 is allowed under section <i style="font-weight: bold;">80TTA </i>for interest earned from :<br />
<br />
1. SAVING BANK ACCOUNT<br />
2. CO-OPERATIVE BANKS<br />
3. <i>POST OFFICE SAVING SCHEMES</i><br />
<i><br /></i>
The amount earned over and above this Rs.10,000.00 would be liable to tax as per the <i>Income Tax Slab Rates.</i><br />
This exemption is only available to individuals and HUF's and is over and above the deduction provided under <i>section 80C.</i><br />
<i><br /></i>
<b><i><br /></i></b>
<br /></div>
akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com0tag:blogger.com,1999:blog-1617353825944514685.post-75000919948929661462011-04-05T21:50:00.000-07:002011-04-05T22:02:32.040-07:00AS 30 , AS 31 ... two new accounting standard<div dir="ltr" style="text-align: left;" trbidi="on"><br />
<div style="text-align: justify;"><span class="Apple-style-span" style="font-family: 'Lucida Grande', Verdana, 'Lucida Sans Regular', 'Lucida Sans Unicode', Arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;"></span></span><br />
<div class="MsoNormal" style="text-align: justify;"></div><div class="MsoNormal" style="line-height: 150%; text-align: justify;"><span class="Apple-style-span" style="font-family: 'Lucida Grande', Verdana, 'Lucida Sans Regular', 'Lucida Sans Unicode', Arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;">The Accounting Standards Board of the Institute of Chartered <span style="line-height: 150%;">Accountant of India, which sets the standard for the country, has formulated two new Standards on Financial Instruments — AS 30 (Financial Instruments: Recognition and Measurement) and AS 31 (Financial Instruments: Presentation). These standards were placed in public domain as exposure drafts for comments up to March 31, 2007 and are now being finalised. While AS 30 is the equivalent of <o:p></o:p></span></span></span></div><div class="MsoNormal" style="line-height: 150%; text-align: justify;"><span class="Apple-style-span" style="font-family: 'Lucida Grande', Verdana, 'Lucida Sans Regular', 'Lucida Sans Unicode', Arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;"><span style="line-height: 150%;">International Accounting Standard IAS 39, AS 31 corresponds to IAS 32. <o:p></o:p></span></span></span></div><h2 style="line-height: 150%; text-align: justify;"><span class="Apple-style-span" style="font-family: 'Lucida Grande', Verdana, 'Lucida Sans Regular', 'Lucida Sans Unicode', Arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;">Features of AS 30 <o:p></o:p></span></span></h2><div class="MsoNormal" style="line-height: 150%; text-align: justify;"><span class="Apple-style-span" style="font-family: 'Lucida Grande', Verdana, 'Lucida Sans Regular', 'Lucida Sans Unicode', Arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;"><span style="line-height: 150%;">The AS 30 is a complex standard and its main objective is to establish principles for recognising and measuring financial instruments whose definition encompass most items of financial assets, financial liabilities in an entity's balance sheet. The introduction of this Standard is likely to affect almost all items in a corporate/bank balance sheet. It deals with recognition/de-recognition and measurement of financial instruments as also derivatives and hedge accounting. <o:p></o:p></span></span></span></div><div class="MsoNormal" style="line-height: 150%; text-align: justify;"><span class="Apple-style-span" style="font-family: 'Lucida Grande', Verdana, 'Lucida Sans Regular', 'Lucida Sans Unicode', Arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;"><span style="line-height: 150%;">AS 30 uses a mixed measurement model. Some assets and liabilities are valued at Fair Value and others on cost basis. The concept of fair value is central to the standard as also the concept of symmetry. Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable willing parties in an arm's length transaction. The standard stipulates measurement of assets and liabilities at fair value unless otherwise stated. Rationale for fair value stems from the fact that for financial instruments the most relevant information is the amount that could be realised from disposal. Subsequent measurement of financial assets depends upon their classification at initial recognition into any of the four categories. <o:p></o:p></span></span></span></div><div class="MsoListParagraphCxSpFirst" style="line-height: 150%; margin-left: 14.2pt; mso-add-space: auto; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -14.2pt;"><span class="Apple-style-span" style="font-family: 'Lucida Grande', Verdana, 'Lucida Sans Regular', 'Lucida Sans Unicode', Arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;"><span style="font-family: Wingdings; line-height: 150%;">ü<span style="font: normal normal normal 7pt/normal 'Times New Roman';"> </span></span><span style="line-height: 150%;">Financial assets at fair value through P&L (held for trading) <o:p></o:p></span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-left: 14.2pt; mso-add-space: auto; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -14.2pt;"><span class="Apple-style-span" style="font-family: 'Lucida Grande', Verdana, 'Lucida Sans Regular', 'Lucida Sans Unicode', Arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;"><span style="font-family: Wingdings; line-height: 150%;">ü<span style="font: normal normal normal 7pt/normal 'Times New Roman';"> </span></span><span style="line-height: 150%;">Held to maturity investments <o:p></o:p></span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-left: 14.2pt; mso-add-space: auto; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -14.2pt;"><span class="Apple-style-span" style="font-family: 'Lucida Grande', Verdana, 'Lucida Sans Regular', 'Lucida Sans Unicode', Arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;"><span style="font-family: Wingdings; line-height: 150%;">ü<span style="font: normal normal normal 7pt/normal 'Times New Roman';"> </span></span><span style="line-height: 150%;">Loans and receivables <o:p></o:p></span></span></span></div><div class="MsoListParagraphCxSpLast" style="line-height: 150%; margin-left: 14.2pt; mso-add-space: auto; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -14.2pt;"><span class="Apple-style-span" style="font-family: 'Lucida Grande', Verdana, 'Lucida Sans Regular', 'Lucida Sans Unicode', Arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;"><span style="font-family: Wingdings; line-height: 150%;">ü<span style="font: normal normal normal 7pt/normal 'Times New Roman';"> </span></span><span style="line-height: 150%;">Available for sale financial assets <o:p></o:p></span></span></span></div><div class="MsoListParagraphCxSpLast" style="line-height: 150%; margin-left: 14.2pt; mso-add-space: auto; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -14.2pt;"><span class="Apple-style-span" style="font-family: 'Lucida Grande', Verdana, 'Lucida Sans Regular', 'Lucida Sans Unicode', Arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;"><span style="line-height: 150%;"><br />
</span></span></span></div><div class="MsoNormal" style="line-height: 150%; text-align: justify;"><span class="Apple-style-span" style="font-family: 'Lucida Grande', Verdana, 'Lucida Sans Regular', 'Lucida Sans Unicode', Arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;"><span style="line-height: 150%;">Subsequent measurement of financial liabilities classified under fair value through P&L is at fair value and the resulting gains/losses are recognised in the statement of profit and loss. All other financial liabilities are to be measured at amortised cost using the effective interest method. The standard also stipulates restrictions on reclassification between categories. No reclassification of a financial instrument into or out of the category fair value through profit and loss is permitted. The standard however prescribes certain exceptional circumstances under which reclassification between `held to maturity' and `available for sale' categories are permitted. <o:p></o:p></span></span></span></div><div class="MsoNormal" style="line-height: 150%; text-align: justify;"><span class="Apple-style-span" style="font-family: 'Lucida Grande', Verdana, 'Lucida Sans Regular', 'Lucida Sans Unicode', Arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;"><span style="line-height: 150%;">The requirements regarding impairment and uncollectability of financial assets constitute an important and significant part of AS 30. Conceptually at each balance sheet date, an entity should assess whether there is any objective evidence that a financial asset or group of financial assets is impaired and if so it should determine the amount of impairment loss and provide for the same. <o:p></o:p></span></span></span></div><div class="MsoNormal" style="line-height: 150%; text-align: justify;"><span class="Apple-style-span" style="font-family: 'Lucida Grande', Verdana, 'Lucida Sans Regular', 'Lucida Sans Unicode', Arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;"><span style="line-height: 150%;">Asset is defined as a resource controlled by an entity having future economic benefit. Two key ingredients in this definition are resource controlled by an entity and future economic benefit <o:p></o:p></span></span></span></div><div class="MsoNormal" style="line-height: 150%; text-align: justify;"><span class="Apple-style-span" style="font-family: 'Lucida Grande', Verdana, 'Lucida Sans Regular', 'Lucida Sans Unicode', Arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;"><span style="line-height: 150%;">associated with it. If the entity loses control or future economic benefit ceases, there is impairment and it has to be provided. These areas will have significant impact on the financial statements of banks, since they are currently following 90-day delinquency norms for recognition of NPAs and provisioning. <o:p></o:p></span></span></span></div><div class="MsoNormal" style="line-height: 150%; text-align: justify;"><span class="Apple-style-span" style="font-family: 'Lucida Grande', Verdana, 'Lucida Sans Regular', 'Lucida Sans Unicode', Arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;"><span style="line-height: 150%;">The standard also stipulates the criteria to qualify for hedge accounting and the recognition and measurement of gains and losses for different types of hedging relationships such as fair value hedges, cash flow hedges and hedge of a net investment in a non-integral foreign operation. Derivatives will be recorded on the balance sheet at fair values and changes in their fair values will be reflected in the profit & loss account unless stringent hedge accounting criteria are satisfied. <o:p></o:p></span></span></span></div><h2 style="line-height: 150%; text-align: justify;"><span class="Apple-style-span" style="font-family: 'Lucida Grande', Verdana, 'Lucida Sans Regular', 'Lucida Sans Unicode', Arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;">Challenges <o:p></o:p></span></span></h2><div class="MsoNormal" style="line-height: 150%; text-align: justify;"><span class="Apple-style-span" style="font-family: 'Lucida Grande', Verdana, 'Lucida Sans Regular', 'Lucida Sans Unicode', Arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;"><span style="line-height: 150%;">Change in accounting ushered in by the standard can substantially affect the operation of entities. The implementation of AS 30 has the potential to accentuate earnings volatility especially since hedge accounting has been defined very rigorously under the framework and derivatives that do not qualify as hedges will have to be marked to market and resultant gains or losses will have to be routed through the profit & loss account. </span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt; line-height: 150%;"><o:p></o:p></span></span></span></div><div class="MsoNormal" style="line-height: 150%; text-align: justify;"><span class="Apple-style-span" style="font-family: 'Lucida Grande', Verdana, 'Lucida Sans Regular', 'Lucida Sans Unicode', Arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;"><span style="line-height: 150%;">Resorting to fair value measurement would pose a serious challenge in the valuation of financial instruments underpinning the need to develop skills for valuation among accountants, finance professionals and prepare for greater level of transparency through enhanced disclosure requirements and documentation needs prescribed by the standard. <o:p></o:p></span></span></span></div><div class="MsoNormal" style="line-height: 150%; text-align: justify;"><span class="Apple-style-span" style="font-family: 'Lucida Grande', Verdana, 'Lucida Sans Regular', 'Lucida Sans Unicode', Arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;"><span style="line-height: 150%;">Appropriate Board oversight and involvement of senior management would be a pre-requisite for the smooth adoption. Further, there is a need to revamp the MIS and technology capabilities of the entities that have to comply with AS 30 for which significant initial investment would have to be earmarked. Migration to fair value accounting has its own challenges but at the same time it brings in enormous amount of opportunities for Indian corporate and financial institutions especially in the context of greater integration of our markets with international markets. <o:p></o:p></span></span></span></div><div class="MsoNormal" style="line-height: 150%; text-align: justify;"><span class="Apple-style-span" style="font-family: 'Lucida Grande', Verdana, 'Lucida Sans Regular', 'Lucida Sans Unicode', Arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;"><br />
</span></span></div></div></div>akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com0tag:blogger.com,1999:blog-1617353825944514685.post-7475526620594475922011-04-05T08:42:00.000-07:002011-04-05T08:42:06.599-07:00Love Girlfriend Freedom Poems Kahaani (Aankhon Ke Pardon Pe) UDAAN<iframe width="480" height="295" src="http://www.youtube.com/embed/y00l9ZufLbU?fs=1" frameborder="0" allowfullscreen=""></iframe>akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com0tag:blogger.com,1999:blog-1617353825944514685.post-8389361902136015442011-04-04T22:06:00.000-07:002011-04-04T22:06:19.382-07:00Minimum Alternate Tax<div dir="ltr" style="text-align: left;" trbidi="on"><br />
<div style="padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;"><div style="text-align: left;"><span class="Apple-style-span" style="font-family: Arial, Helvetica, sans-serif; font-size: large;"><b>Minimum Alternative Tax</b></span></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-size: x-small;"><span class="Apple-style-span" style="font-family: Arial, Helvetica, sans-serif;"><br />
</span></span></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Arial, Helvetica, sans-serif;">Normally, a comapny is liable to pay tax on the income computed in accordance with the provisions of the income tax Act, but the profit and loss account of the company is prepared as per provisions of the Companies Act. There were large number of companies who had book profits as per their profit and loss account but were not paying any tax because income computed as per provisions of the income tax act was either nil or negative or insignificant. In such case, although the companies were showing book profits and declaring dividends to the shareholders, they were not paying any income tax. These companies are popularly known as Zero Tax companies. In order to bring such companies under the income tax act net, section 115JA was introduced w.e.f assessment year 1997-98. </span></div><span class="Apple-style-span" style="font-family: Arial, Helvetica, sans-serif;"><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">According to this section, if the taxable income of a company computed under this Act, in respect of previous year 1996-97 and onwards is less than 30 % of its book profits, the total income of such company is chargeable to tax for the relevant previous year shall be deemed to an amount equal to 30 % of such book profits. </div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">A new tax credit scheme is introduced by which MAT paid can be carried forward for set-off against regular tax payable during the subsequent five year period subject to certain conditions, as under:-</div><ul style="margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><li style="padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: justify;">When a company pays tax under MAT, the tax credit earned by it shall be an amount which is the difference between the amount payable under MAT and the regular tax. Tegular tax in this case means the tax payable on the basis of normal computation of total income of the company.</li>
<li style="padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: justify;">MAT credit will be allowed carry forward facility for a period of five assessment years immediately succeeding the assessment year in which MAT is paid. Unabsorbed MAT credit will be allowed to be accumulated subject to the five year carry forward limit.</li>
<li style="padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: justify;">In the assessment year when regular tax becomes payable, the difference between the regular tax and the tax computed under MAT for that year will be set off against the MAT credit available.</li>
<li style="padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: justify;">The credit allowed will not bear any interest.</li>
</ul><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">The Finance Act 2005, introduced from FY 2006-07, Section 115JB that provides if the tax payable on the total income as computed under the Income-tax Act in respect of any previous year relevant to the assessment year commencing on or after April 1 2001, is less than 7.5% of its book profit, such book profit shall be deemed to be the total income of the assessee and the tax payable for the relevant previous year shall be 7.5% of such book profit.</div><div style="text-align: justify;">Budget 2010-11 MAT u/s 115JB has been increased to 18%</div></span></div></div>akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com0tag:blogger.com,1999:blog-1617353825944514685.post-31328218470598516442011-04-04T21:56:00.000-07:002011-04-04T21:56:57.634-07:00Official Gazette Of India<div dir="ltr" style="text-align: left;" trbidi="on">Q. What is "the gazette of India ?"<br />
a friend of mine asked me yesterday ...<br />
Ans. this is "the gazette of India"..<br />
<br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqZ2bisDgXs0laKVrklj_iELKlLxa6YAlSb7t5saENv73NRGtJ7wHLQ4o6QHCUFtDwu5Ar8sGSbTsy0vyNF0wrfz8_91JagstUwILLuZBNDzJ7GpXLYcAIMvNLdseAaEmDMkmO7ZkNNnuF/s1600/The+Gazette+of+India.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqZ2bisDgXs0laKVrklj_iELKlLxa6YAlSb7t5saENv73NRGtJ7wHLQ4o6QHCUFtDwu5Ar8sGSbTsy0vyNF0wrfz8_91JagstUwILLuZBNDzJ7GpXLYcAIMvNLdseAaEmDMkmO7ZkNNnuF/s320/The+Gazette+of+India.jpg" width="234" /></a></div><br />
</div>akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com0tag:blogger.com,1999:blog-1617353825944514685.post-47905998248119690722011-03-17T05:47:00.000-07:002011-03-17T05:47:59.457-07:00The Wanted - Lose My Mind (Official)<div>AWESOME...</div><div><br /></div><iframe width="480" height="295" src="http://www.youtube.com/embed/lv2CDjyPRkg?fs=1" frameborder="0" allowfullscreen=""></iframe>akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com0tag:blogger.com,1999:blog-1617353825944514685.post-41157922590235787662011-03-17T02:46:00.000-07:002011-03-17T05:30:20.485-07:00CA PCC/IPCC Service Tax & VAT Notes<div dir="ltr" style="text-align: left;" trbidi="on"><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Notes for CA PCC/IPCC.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">1. A good understanding of VALUE ADDED TAX (indeed very good)</div><div style="text-align: justify;"><br />
</div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjRGXbo21m9fSVecCiA62NrFyAsI7_OSaroIZyOgF-X7ne9wzFPpoEwpyQJWhZtlGOiOtbGhdZietl-VlAtS2YQ05PijhW_fvBjOaLi9jsD4LAR7-Micmvv922sQl6xI-poXMoFdfwOfPlj/s1600/VAT_thumb.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em; text-align: justify;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjRGXbo21m9fSVecCiA62NrFyAsI7_OSaroIZyOgF-X7ne9wzFPpoEwpyQJWhZtlGOiOtbGhdZietl-VlAtS2YQ05PijhW_fvBjOaLi9jsD4LAR7-Micmvv922sQl6xI-poXMoFdfwOfPlj/s1600/VAT_thumb.jpg" /></a><br />
<div style="text-align: justify;">2. Precise and revisionary notes of Service Tax and Value Added Tax (much appreciated)</div><br />
<br />
<b>Download From the following links..</b><br />
<b><br />
</b><br />
<b>1. Value Added Tax </b><a href="http://www.mediafire.com/file/qtrgrtm5s3z82uk/Value_Added_Tax.pdf">Download</a><br />
<br />
<b>2. Service Tax </b><a href="http://www.mediafire.com/file/9mmxp6ubfmgpi90/St_AND_VAT.pdf">Download</a><br />
<br />
thank you.</div>akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com0tag:blogger.com,1999:blog-1617353825944514685.post-48514947003603194362011-03-15T05:19:00.000-07:002011-03-15T05:24:17.182-07:00Quick Revision Of Professional Ethics<div dir="ltr" style="text-align: left;" trbidi="on"><div style="text-align: justify;"><a href="http://www.blogger.com/"></a><span id="goog_1007602888"></span><span id="goog_1007602889"></span></div><br />
<div style="text-align: justify;">Here is Attached <b>PDF file</b> contain very <b>quick revision of Professional Ethics of Advance Auditing.</b></div><div style="text-align: justify;"><b><br />
</b></div><br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEijJxw0OnZz7Sg0_yAocuLfc8TADkWaPqaNN97E8U9v4zsA8XJ6waniVaPvB0fBCjbxUQBddxRzU6JIPQPgq20C4LMuT-fHPCXGOQAotWjUdYfVotYO8HUpt5q3iQm7TvfgAoF2DFe3blGk/s1600/Capture.PNG" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em; text-align: justify;"><img border="0" height="91" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEijJxw0OnZz7Sg0_yAocuLfc8TADkWaPqaNN97E8U9v4zsA8XJ6waniVaPvB0fBCjbxUQBddxRzU6JIPQPgq20C4LMuT-fHPCXGOQAotWjUdYfVotYO8HUpt5q3iQm7TvfgAoF2DFe3blGk/s200/Capture.PNG" width="200" /></a></div><div style="text-align: justify;">this chapter alone covers more than 20 marks coverage in the exam.</div><div style="text-align: justify;">Notes are very good and precise .. </div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><b>Download it from the following link...</b></div><br />
<b>>><a href="http://www.mediafire.com/file/e3526tw2557k9ba/Quick_Review_of_PE.pdf">QuickRevisionOfPE.pdf</a></b></div>akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com1tag:blogger.com,1999:blog-1617353825944514685.post-25969628542039872562011-03-14T04:00:00.000-07:002011-03-14T04:00:24.608-07:00Twitter:Discover What's New In Your World.<div dir="ltr" style="text-align: left;" trbidi="on"><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Arial, Helvetica; font-size: 12px; line-height: 20px;"><br />
</span></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Arial, Helvetica; font-size: 12px; line-height: 20px;">There is buzz about <a href="http://twitter.com/#search?q=%23NewTwitter" style="color: #063e6a; font-weight: bold; text-decoration: underline;">#new twitter</a> in the web but I'm still <span class="IL_AD" id="IL_AD1" style="background-attachment: scroll !important; background-clip: initial !important; background-color: transparent !important; background-image: none !important; background-origin: initial !important; background-position: 0% 50%; background-repeat: repeat repeat !important; border-bottom-color: rgb(153, 0, 0) !important; border-bottom-style: solid !important; border-bottom-width: 1px !important; color: rgb(153, 0, 0) !important; cursor: pointer !important; display: inline !important; float: none !important; font-family: Arial, Helvetica !important; font-size: 12px !important; font-style: normal !important; font-weight: normal !important; padding-bottom: 1px !important; padding-left: 0px !important; padding-right: 0px !important; padding-top: 0px !important; position: static; text-decoration: underline !important;">waiting to</span> experience the same. <a href="http://twitter.com/twitter" style="color: #063e6a; font-weight: bold; text-decoration: underline;">@twitter</a>, please<span class="IL_AD" id="IL_AD2" style="background-attachment: scroll !important; background-clip: initial !important; background-color: transparent !important; background-image: none !important; background-origin: initial !important; background-position: 0% 50%; background-repeat: repeat repeat !important; border-bottom-color: rgb(153, 0, 0) !important; border-bottom-style: solid !important; border-bottom-width: 1px !important; color: rgb(153, 0, 0) !important; cursor: pointer !important; display: inline !important; float: none !important; font-family: Arial, Helvetica !important; font-size: 12px !important; font-style: normal !important; font-weight: normal !important; padding-bottom: 1px !important; padding-left: 0px !important; padding-right: 0px !important; padding-top: 0px !important; position: static; text-decoration: underline !important;">send me</span> the invite ASAP. have a look below for what's in store for tweeple...</span></div><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Arial, Helvetica; font-size: 12px; line-height: 20px;"><br />
</span></div><div class="separator" style="clear: both; text-align: left;"><iframe allowfullscreen='allowfullscreen' webkitallowfullscreen='webkitallowfullscreen' mozallowfullscreen='mozallowfullscreen' width='320' height='266' src='https://www.youtube.com/embed/rIpD7hfffQo?feature=player_embedded' frameborder='0'></iframe></div><div style="text-align: center;"><span class="Apple-style-span" style="font-family: Arial, Helvetica; font-size: 12px; line-height: 20px;"><br />
</span></div></div>akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com0tag:blogger.com,1999:blog-1617353825944514685.post-106255348260491132011-03-11T02:46:00.000-08:002011-03-11T02:57:38.994-08:00Indirect Taxes<div dir="ltr" style="text-align: left;" trbidi="on">Indirect Taxes A to Z material...<br />
<b><br />
</b><br />
<b>Download Link</b><br />
<b><br />
</b><br />
<b>1 .<a href="http://www.mediafire.com/?px6w3kay6coepmi">Indirect Tax-CA Final Notes.pdf</a></b><br />
<b>2. <a href="http://www.mediafire.com/?n4ly5do5jorldgb">Excise - Recent Case Laws for May'11 (pdf file)</a></b><br />
<b>3. <a href="http://www.mediafire.com/file/udvjstslt0jk0d0/3-Indirect%20Tax%20Case%20laws%20Old%20excise.pdf">Indirect Tax Case laws Old excise.pdf</a></b><br />
<b>4. <a href="http://www.mediafire.com/file/r9ai3w38natgg1m/4-Problems%20and%20Solutions%20in%20Excise-IDT.pdf">Problems and Solutions in Excise-IDT.pdf</a></b><br />
<b>5. <a href="http://www.mediafire.com/?8hi9ia6hdrl0hzs">Customs case laws for May 2011.pdf</a></b><br />
<b>6. <a href="http://www.mediafire.com/file/q2fblcstij27kb8/6-Customs%20Case%20laws%20old.pdf">Customs Case laws old.pdf</a></b><br />
<b>7. <a href="http://www.mediafire.com/file/e2k77oetbpot0xt/7-Problems%20solutions%20in%20customs.pdf">Problems solutions in customs.pdf</a></b><br />
<b>8. <a href="http://www.mediafire.com/file/st9s09kbz3lpb2j/8-Problems%20solutions%20in%20Vat.pdf">Problems solutions in Vat.pdf</a></b><br />
<b>9. <a href="http://www.mediafire.com/file/c7olokd8i8e215b/9-Problems%20solutions%20in%20Service%20tax.pdf">Problems solutions in Service tax.pdf</a></b><br />
<br />
</div>akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com1tag:blogger.com,1999:blog-1617353825944514685.post-35806813342855006892011-03-11T02:29:00.000-08:002011-03-11T02:29:08.084-08:00IDT Amendments - Finance Act,2010<div dir="ltr" style="text-align: left;" trbidi="on"><span class="Apple-style-span" style="color: #009900; font-family: 'Lucida Grande', Verdana, 'Lucida Sans Regular', 'Lucida Sans Unicode', Arial, sans-serif; font-size: 12px; line-height: 16px;"></span><br />
<h2 style="font-size: 1.5em; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;">IDT_Amendments_Finance_Act_2010</h2><div><br />
</div><div>Applicable for Students Appearing in May'11 (CA FINAL)</div><div><br />
</div><div><br />
</div><div><b>Download Link</b></div><div><b>>><a href="http://download452.mediafire.com/qzv5sl02dqgg/6hhj7q7d318wzq1/59_idt_amendments_finance_act_2010.pdf">IDT amendments_financeAct2010.pdf</a></b></div></div>akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com0tag:blogger.com,1999:blog-1617353825944514685.post-30116428940462653572011-02-24T20:40:00.000-08:002011-02-24T20:40:02.373-08:00Changes In CA Final Syllabus for May'11<div dir="ltr" style="text-align: left;" trbidi="on">Following Changes have been made by ICAI in Syllabus of CA Final, May'11.<div>Attached file contains the all changes in syllabus.</div><div><b><br />
</b></div><div><b>Download Link</b></div><div><b><br />
</b></div><div><b><a href="http://www.datafilehost.com/download-1e47fa3f.html">changeinsyllabus.pdf</a></b></div></div>akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com0tag:blogger.com,1999:blog-1617353825944514685.post-50121210067486242092011-02-24T02:26:00.000-08:002011-02-24T03:34:11.651-08:00Change in exam timings for May'2011 Chartered Accountant Examinations<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<div align="center" class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b><span style="color: black; font-size: 15pt; line-height: 150%;">IMPORTANT
ANNOUNCEMENT</span></b><span style="color: black; font-family: 'Times New Roman', serif; font-size: 13pt; line-height: 150%;"><o:p></o:p></span></div>
<div align="right" class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: right;">
<b><span style="color: black; font-size: 13pt; line-height: 150%;">February 23, 2011</span></b><span style="color: black; font-family: 'Times New Roman', serif; font-size: 13pt; line-height: 150%;"><o:p></o:p></span></div>
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<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span style="color: black; font-size: 13pt; line-height: 150%;">Change in Examination timings from
9.00 AM-12.00 Noon to 02.00 PM -05.00 PM for May,2011 Chartered Accountants
Examinations</span></b><span style="color: black; font-family: 'Times New Roman', serif; font-size: 13pt; line-height: 150%;"><o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: black; font-family: Verdana, sans-serif; font-size: 13pt; line-height: 150%;">The Candidates appearing in the next Professional
Competence Examination (PCE),Integrated Professional Competence Examination
(IPCE) , Final Examinations and Insurance and Risk Management Examination of
the Institute to be held from </span><b><span style="color: black; font-family: 'verdana,bold', serif; font-size: 13pt; line-height: 150%;">2</span></b><b><span style="color: black; font-family: 'verdana,bold', serif; font-size: 9pt; line-height: 150%;">nd</span></b><b><span style="color: black; font-family: 'verdana,bold', serif; font-size: 9pt; line-height: 150%;"> </span></b><b><span style="color: black; font-family: 'verdana,bold', serif; font-size: 13pt; line-height: 150%;">May, 2011 to 16</span></b><b><span style="color: black; font-family: 'verdana,bold', serif; font-size: 9pt; line-height: 150%;">th</span></b><b><span style="color: black; font-family: 'verdana,bold', serif; font-size: 9pt; line-height: 150%;"> </span></b><b><span style="color: black; font-family: 'verdana,bold', serif; font-size: 13pt; line-height: 150%;">May, 2011 </span></b><span style="color: black; font-family: Verdana, sans-serif; font-size: 13pt; line-height: 150%;">may kindly note that
the Examination Timing has been changed from </span><b><span style="color: black; font-size: 13pt; line-height: 150%;">9.00 AM –
12.00 Noon </span></b><span style="color: black; font-family: Verdana, sans-serif; font-size: 13pt; line-height: 150%;">to </span><b><span style="color: black; font-size: 13pt; line-height: 150%;">02.00 PM -
05.00 PM </span></b><span style="color: black; font-family: Verdana, sans-serif; font-size: 13pt; line-height: 150%;">(IST) owing to unavoidable circumstances.</span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 13pt; line-height: 150%;"><o:p></o:p></span></div>
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<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: black; font-family: Verdana, sans-serif; font-size: 13pt; line-height: 150%;">Similarly, Examination timings at Abu Dhabi and
Dubai Centres will be 12.30 PM to 3.30 PM. UAE local time equivalent to 02.00
PM to 05.00 PM (IST). Examination timings at Kathmandu centre will be 02.15 PM
to 05.15 PM Nepal local time equivalent to 02.00 PM to 05.00 PM (IST).</span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 13pt; line-height: 150%;"><o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<br /></div>
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<span style="color: black; font-family: Verdana, sans-serif; font-size: 13pt; line-height: 150%;">Further to this, please note that there will be no
change in the examination schedule in the event of any day of the examination
schedule being declared a Public Holiday by the Central Government or any State
Government.</span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 13pt; line-height: 150%;"><o:p></o:p></span></div>
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<b><span style="color: black; font-size: 13pt; line-height: 150%;">( Dr. T. Paramasivan)</span></b><span style="color: black; font-family: 'Times New Roman', serif; font-size: 13pt; line-height: 150%;"><o:p></o:p></span></div>
<div align="right" class="MsoNormal" style="line-height: 150%; text-align: right;">
<b><span style="color: black; font-size: 13pt; line-height: 150%;">Sr. Deputy
Director(Exams)</span></b><span style="color: black; font-family: 'Times New Roman', serif; font-size: 13pt; line-height: 150%;"><o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%;">
<br />
<br />
Attached File<br />
Download Link<br />
<a href="http://www.datafilehost.com/download-02cd7104.html">announcement.pdf</a><br />
<div class="MsoNormal" style="line-height: 150%;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: Forte; font-size: 15pt; line-height: 150%;"><o:p></o:p></span></b></div>
</div>
</div>akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com0tag:blogger.com,1999:blog-1617353825944514685.post-28345934342040136612011-02-18T03:48:00.000-08:002011-03-11T03:02:28.552-08:00Portfolio Management !!<div dir="ltr" style="text-align: left;" trbidi="on"><span class="Apple-style-span" style="font-size: large;">Portfolio Management..</span><br />
<span class="Apple-style-span" style="font-size: large;"><u><br />
</u></span><br />
<span class="Apple-style-span" style="font-size: large;"><u>Download Link</u></span><br />
<span class="Apple-style-span" style="font-size: large;"><u><a href="http://www.datafilehost.com/download-03499e07.html">Portfolio Management.pdf</a></u></span></div>akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com0tag:blogger.com,1999:blog-1617353825944514685.post-36085612530585681282011-02-17T02:00:00.000-08:002011-02-17T02:00:39.921-08:00CA Final Syllabus - New Course<div dir="ltr" style="text-align: left;" trbidi="on"><br />
<b>Download Link</b><br />
<b><br />
</b><br />
<b><a href="http://www.datafilehost.com/download-53392399.html">Final Syllabus.pdf</a></b></div>akashbansalhttp://www.blogger.com/profile/09132770283263435796noreply@blogger.com0