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Wednesday, 28 August 2013


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Wednesday, 24 April 2013

Dear Professional Colleague, CBEC extends the date of submission of the Form ST-3, for the period from 1st October 2012 to 31st March 2013, from 25th April, 2013 to 31st August, 2013 vide order no. 03/2013 dated 23.04.2013. Copy of Order is enclosed herewith for your reference. F.No.137/99/2011-Service Tax Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs *** New Delhi, dated the 23rd April, 2013 Order No: 03/2013-Service Tax In exercise of the powers conferred by sub-rule(4) of rule 7 of the Service Tax Rules, 1994, the Central Board of Excise & Customs hereby extends the date of submission of the Form ST-3, for the period from 1st October 2012 to 31st March 2013, from 25th April, 2013 to 31st August, 2013. The circumstances of a special nature, which have given rise to this extension of time, are as follows: “The Form ST-3, for the period from 1st October 2012 to 31st March 2013, is expected to be available on ACES around 31st of July, 2013”. Himani Bhayana Under Secretary (Service Tax) Central Board of Excise and Customs To All Chief Commissioners of Central Excise / Customs and Central Excise Hope the same will assist you in your professional endeavor.

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 drsaca1@gmail.com.

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.