STI NEWS;"REFUSAL OF POSTAL ORDERS AS RTI FEE TO INVITE ACTION"plus 7 more

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• REFUSAL OF POSTAL ORDERS AS RTI FEE TO INVITE ACTION
• INDIVIDUAL TAXPAYERS NEED NOT DECLARE HIGH-VALUE TRANSACTIONS
• Stays on Centre''s notification levying service tax on lawyers:Delhi High Court
• GET 9.5 % EPF INTEREST IN 11-12 ALSO (FOR FINAL PAYMENTS)
• FVU 3.1-TDS Rounding Off Validation T-FV-4278 Invalid tax deducted amount.
• HOUSE MORE 20L FD MORE THAN 5L DD CASH MORE THAN 1LAKH TO BE REPORTED IN AIR
• YOUR SAVINGS ACCOUNT LIKELY TO EARN MORE
• I-T raids conducted on Ahmedabad Realty majors

REFUSAL OF POSTAL ORDERS AS RTI FEE TO INVITE ACTION Posted: 04 May 2011 12:10 PM PDT The government has decided to impose a penalty on officials who do not accept postal orders as fees for getting information under the Right to Information Act. The Department of Personnel and Training has issued a circular in this regard. Refusal to accept fees through the Indian Postal Orders may be treated as refusal to accept the application. It may result into imposition of penalty by... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

INDIVIDUAL TAXPAYERS NEED NOT DECLARE HIGH-VALUE TRANSACTIONS Posted: 04 May 2011 12:07 PM PDT The Central Board of Direct Taxes (CBDT) has given a breather to individual tax payers from declaring high-value transactions with banks, mutual funds, credit cards, etc via the income tax return forms. The newly notified income tax return forms for the Assessment Year 2011-12 including Sahaj, Sugam, ITR 2, ITR 3 do not carry the dreaded Annual Information Return (AIR) blocks.  We... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Stays on Centre''s notification levying service tax on lawyers:Delhi High Court Posted: 29 Apr 2011 06:44 PM PDT In a major relief to lawyers, the Delhi High Court today stayed the operation of a central government''s notification to levy service tax from practising advocates. "The notification is stayed," a bench comprising Chief Justice Dipak Misra and Sanjiv Khanna said on a petition by Delhi High Court Bar Association (DHCBA) challenging the Centre''s notification. Admitting the petition of... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

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! ]]

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