| GET 9.5 % EPF INTEREST IN 11-12 ALSO (FOR FINAL PAYMENTS) Posted: 28 Apr 2011 09:38 AM PDT 
Subscribers of retirement fund manager EPFO, settling their final claims before the new rate is announced for the current fiscal, will get the existing 9.5 per cent interest on their deposits. "Since the rate of interest (on deposits) for 2010-11 has been declared as 9.5 per cent per annum, settlement of claims of the EPF subscribers during 2011-12 shall be made at 9.5 per cent per annum... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| FVU 3.1-TDS Rounding Off Validation T-FV-4278 Invalid tax deducted amount. Posted: 28 Apr 2011 08:47 AM PDT 
FVU 3.1 was launched on March 18,2011 and is applicable for Q4 eTDS Statements for FY 2010-11 and FY 2011-12. Many deductors are not able to create eTDS statement and are getting the following error: T-FV-4278 Invalid tax deducted amount. Enter valid tax deducted amount. New Validation for TDS Amount The above error is because of a new validation introduced in FVU 3.1 Correct TDS Amount... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| HOUSE MORE 20L FD MORE THAN 5L DD CASH MORE THAN 1LAKH TO BE REPORTED IN AIR Posted: 28 Apr 2011 08:24 AM PDT 
In its drive against tax evasion, the finance ministry is planning to add to the list of high-value transactions required to be reported to the revenue department in annual information returns (AIRs). This is besides lowering the bar in case of some transactions. In AIRs, intermediaries, such as banks, are supposed to report high-value transactions to the tax department so that it can match... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| YOUR SAVINGS ACCOUNT LIKELY TO EARN MORE Posted: 28 Apr 2011 08:15 AM PDT 
Move comes against the backdrop of high inflation; banks opposed to having the rate set by market forces At a time when rising prices are fast depleting the value of money, there may be some good news for millions of savers. The savings bank rate, one of the few to be still administered, may be raised, as banks have opposed the move to deregulate it for the time being. RBI has been in talks... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| I-T raids conducted on Ahmedabad Realty majors Posted: 28 Apr 2011 06:43 AM PDT 
Ahmedabad Realty majors were taken by complete surprise on Wednesday, when the I-T department began a search and survey operation on their premises. With a team of over 150 officials the Income Tax department targeted the premises of four real estate groups in the city which they suspected of tax evasion and parking of black [...] I-T raids conducted on Ahmedabad Realty majors is a post from:... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| REFUND OF EXCESS TDS DEDUCTED AND-OR PAID BEYOND 194D Posted: 28 Apr 2011 06:13 AM PDT 
Last year CA. NAGENDRA GUPTA has raised an issue regarding refund of excess TDS amount beyond section 194D.We have also published the open letter to CBDT .But in Govt issues are dealt at at their own pace.Now After almost 30 Years Govt has revised his rules and now powers has been given to refund the excess amount u/s 192 to 194LA except under sections 192, 194E and 195 which are already... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
| CBDT not empowered to tap phone calls ! Posted: 27 Apr 2011 07:38 PM PDT 
The Cabinet Secretariat has ruled that mere tax evasion does not form valid ground for interception of phones, thereby clarifying that the Central Board of Direct Taxes is not an authorised agency to tap phones and eavesdrop on conversations of citizens. The Cabinet Secretariat concurred with the Supreme Court's ruling that 'phone taps must be [...] CBDT not empowered to tap phone calls ! is a... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]  |
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