Bank certificate is acceptable as proof of identity for the PAN application of an individual. Earlier bank statement/pass book was acceptable as proof of identity, but now Bank certificate on the letter of the bank is required for a proof of identity. Format for the same is given below:- … [Read more...]
Banks are not permitted to charge foreclosure charges/pre-payment penalties on home loans on floating interest rate basis
RBI/2011-12/589 DBOD. No. Dir. BC.107/13.03.00/2011-12June 5, 2012All Scheduled Commercial Banks(Excluding RRBs)Dear Sir/MadamHome Loans-Levy of fore-closure charges/pre-payment penaltyPlease refer to our circular DBOD. No. Dir. BC. 56/13.03.00/2006-2007 dated February 2, 2007 on … [Read more...]
The procedure for issuance of statutory declarations/forms electronically, under the Central Sales Tax Act, 1956
1.The procedure for issuance of statutory declarations/forms under the Central Sales Tax Act, 1956 has been prescribed by the Trade Circulars referred above. At present, for obtaining declaration or certificates, the dealer submits/uploads application called SOR (Statement of Requirement) … [Read more...]
Time table of Ca Examination May 2014
The ICAI has notified the time table of the exam to be held in May 2014. IPC exam will held form 27th May 2014 to 8th June 2014. Final Exam will held from 26th May 2014 to 9th June 2014. Insurance and Risk Management (IRM) exam will held from 3rd June 2014 to 9th June 2014. Common Proficiency Test … [Read more...]
Why CA should do IFRS? Video
In following video I have explained the importance of the IFRS in job industries for the Chartered Accountants. … [Read more...]
Late Fees Exemption Conditions under MVAT Act 2002 – MVAT Notification dated 27/12/2013
FINANCE DEPARTMENT Hutatma Rajguru Chowk, Mantralaya, Mumbai 400 032, dated the 24th December 2013 . NOTIFICATION MAHARASHTRA VALUE ADDED TAX ACT. 2002. No. VAT 1513/C.R. 124/Taxation-1.-In exercise of the powers conferred by the proviso to sub-section (6) of section 20 of the … [Read more...]
Income tax rate for financial year 2013-2014
A. For resident individual (male or female) who is not senior citizen and HUF, AOP, BOI and AJP: Net Income Income Tax Rate Surcharge Up To Rs. 2 Lacks NIL NIL Rs.2 Lacks to Rs.5 Lacks 10% of (total income – Rs. 2 Lacks) NIL Rs.5 Lacks to Rs.10 … [Read more...]
Documents and fees required for mvat registration
In previous article we have seen the procedure of MVAT registration. Now let’s see the documents required for MVAT registration. 1) PAN of Dealer (PAN of partners/directors is also required in case of firm/company) 2) Constitution certificate :- a) Proprietorship:- Shop Act License / If Shop … [Read more...]