| NO EXEMPTION TO NEW PVT TRUST BY EPFO Posted: 29 Nov 2011 09:36 AM PST 
The government may not allow new exempted PF trusts to manage employee funds. Companies with such funds would be allowed only to maintain accounts of their employees, while the EPFO will invest the corpus and offer interests to its subscribers accordingly. A provision in this regard is likely to come in the EPF Act amendment note that is expected to go for Cabinet approval soon. If approved,...  |
| New Procedure for Correction in Challans (TDS / I-T) at Banks Posted: 29 Nov 2011 09:31 AM PST 
Under OLTAS (On Line Tax Accounting System), the physical challans of all Direct Tax payments received from the deductors / taxpayers are digitized on daily basis by the collecting banks and the data transmitted to TIN (Tax Information Network) through link cell. At present, the banks are permitted to correct data relating to three fields only i.e. amount, major head code and name. The other...  |
| 10-Year National Savings Certificate (IX-Issue), 2011 launched Posted: 29 Nov 2011 09:30 AM PST 
In accordance with the decisions taken by the Government on the basis of the recommendations of the Committee for Comprehensive Review of National Small Savings Fund (NSSF), headed by SmtShyamala Gopinath, the then Deputy Governor, Reserve Bank of India, Notifications on changes made in various small saving schemes except 10-Year National Savings Certificate, have already been issued on 25th...  |
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