New RBI notification for RRB regarding charges on Minimum Balance in Savings Accounts

RBI Guidelines /

The Reserve Bank of India vide its Notification No RBI/2014-15/363 DBR.RRB.BC.No.55/03.05.33/2014-15 dtd Dec 22 , 2014 has notified additional guidelines to RRBs with regard to levy of penal charges on non-maintenance of minimum balances in savings bank accounts. According to this notification, the RRBs shall adhere to the following guideline for levy of penal charges for non-maintenance […]

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Company Law Settlement Scheme 2014 extended again..

1 Comment / Company Law, Company Registration in Chennai /

As you are aware, the Ministry of Company Affairs (MCA) had announced a scheme Company Law Settlement Scheme (2014) (CLSS 2014) to facilitate corporate entities having backlog in filing the Annual Returns and Balance sheets with the Registrar of Companies. As per the scheme, a concession in the additional fees and also immunity from prosecution

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Company Law Settlement Scheme 2014 Last date extended…

Company Law, Company Registration in Chennai /

In view of the various representations received from the various stakeholders, the Last date for availing the Company Law Settlement Scheme has been extended to 15th November 2014. Originally, the scheme was to end on 15th October 2014. The stakeholders were put on hardship due to slowdown in the MCA portal . In view of

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Company Law Settlement Scheme 2014 – Opportunity for Companies

Company Law, General /

The Ministry of Corporate Affairs vide its Circular No 34/2014 dtd 12th August 2014 has introduced a new scheme for Companies for filing their backlog Annual Returns.   WHOM THIS SCHEME APPLIES? This scheme is applicable for defaulting companies which have made a default in filing of annual Statutory Documents.   WHOM THIS SCHEME DOES

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New e-filing Utility for filing Tax Audit Forms released

Income tax return filing in chennai, Income-tax /

The Income-tax Department has released the following e-filing utilities in respect of Tax Audit reports for the A.Y.2014-15 :- 1) Form 3CA-3CD – Audit Report under Section 44 AB of the Income-tax Act, 1961 in a case where the accounts of the business or profession of a person have been audited under any other law.

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TDS ON WORKS CONTRACT UNDER TNVAT ACT

16 Comments / TNVAT /

WHO ARE LIABLE TO DEDUCT For the purposes of Works Contract TDS, a person who is liable INCLUDES :- (i)                 Central/State Government, (ii)               A local authority, (iii)             A corporation or body established by or under a Central or State act (iv)             A company incorporated under Companies Act,1956 including Central or state Government undertaking; (v)               A

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Form 3CA,3CB (Audit Report) & Form 3CD (Annexure to Audit Report) Modified

1 Comment / General, Income tax return filing in chennai, Income-tax /

Audit of Books of accounts in respect of businesses with Turnover/Gross Receipts exceeding Rs. 1 Crore and businesses declaring Net Profit less than 8% of the Turnover/Gross receipts is mandatory. The Income-tax Departments has made the online submission of the Audit Report (Form 3CA / Form 3CB as applicable) and the prescribed particulars to be

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Budget 2014 – Tax Proposals

Income tax return filing in chennai, Income-tax /

BUDGET 2014 – TAX PROPOSALS (Applicable for the Financial year 2014-15) RATES OF TAXES For Individuals (Below 60 years of age) & HUF Income                                                                 Rate of Tax Upto Rs. 2,50,000                                             Nil Rs. 2,50,001 to Rs. 5,00,000                          10% Rs. 5,00,001 to Rs. 10,00,000                        20% Above Rs. 10,00,000                                        30%   For Resident Individuals (above 60  years of

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