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Monday, 31 December 2012

New Year Wishes from DRS

Wish you a Happy and Eventful New Year. CA.Ratnakara Sastry,B.Com, FCA, DISA

Wednesday, 19 December 2012

Companies Bill

The Lok Sabha has passed the much awaited Companies Bill 2011 on 18,th December, 2012. The Bill is all set to replace the 56 year old Act. The promulgation of the new Act is a step towards globalization and is a successful attempt to meet the changing environment and is progressive and futuristic duly envisaging the technological and legal developments. The new law surely promises investor democracy and addresses the public concern over corporate accountability and responsibility and alongside introduces some industry friendly provisions. The major Chapter-wise highlights of the new Companies Bill are summarized in enclosed attachment.

Monday, 3 December 2012

Tax payers avail deduction u/s 80CCCG up to Rs.1,00,000/-

HI friends have a look at the recent developments in the Investment for Tax Saving options u/s 80CCCG of the Income Tax Act, 1961, whose income is less than or equal to ten lakh rupees in a financial year to claim benefit under the Rajiv Gandhi Equity Savings Scheme. A Detailed notification has been provided for your benefit, should you have any clarifications relating to the said notification, you may reach us at

Sunday, 1 July 2012

TDS not on Reimbursements

TDS Provisions doses not require to deduct tax on reimbursement component, as they don't fall under the ambit of compensation. Indeed this clarity is not there to most of the Tax Deduction Officers of various organizations, hence the concerned payees should fight it out for non deduction of TDS on the reimbursement claims, this would not only improve their cash flow position, but would avoid unnecessary huge claims, that are invariably to be made in their Income Tax Returns.