LAST DATE FOR FILING OF FORM 23AC & 23ACA
http://www.icwai.org/icwainew/docs/circular/Gen-Circular-30-2012.pdf
http://www.icwai.org/icwainew/docs/circular/Gen-Circular-30-2012.pdf
COMMITTED FOR THE GROWTH OF BUDDING PROFESSIONALS
Friday 28 September 2012
Wednesday 26 September 2012
key to success
Once upon a time a very strong
woodcutter asked for a job with a timber merchant, and he got it. His salary
was really good and so were the working conditions. For that reason, the
woodcutter was determined to do his best.
His boss gave him an axe and showed him the area where he was supposed to fell the trees. The first day, the woodcutter brought down 15 trees.
" Congratulations," the boss said. " Carry on with your work!"
Highly motivated by the words of his boss, the woodcutter tried harder the next day, but he only could bring 10 trees down. The third day he tried even harder, but he was only able to bring down 7 trees.
Day after day he was bringing lesser number of trees down.
" I must be losing my strength", the woodcutter thought. He went to the boss and apologized, saying that he could not understand what was going on.
" When was the last time you sharpened your axe?" the boss asked.
" Sharpen? I had no time to sharpen my axe. I have been very busy trying to cut trees..."
That's right. Most of us NEVER update our skills. We think that whatever we have learned is very much enough. But good is not good when better is expected. Sharpening our skills from time to time is the key to success
His boss gave him an axe and showed him the area where he was supposed to fell the trees. The first day, the woodcutter brought down 15 trees.
" Congratulations," the boss said. " Carry on with your work!"
Highly motivated by the words of his boss, the woodcutter tried harder the next day, but he only could bring 10 trees down. The third day he tried even harder, but he was only able to bring down 7 trees.
Day after day he was bringing lesser number of trees down.
" I must be losing my strength", the woodcutter thought. He went to the boss and apologized, saying that he could not understand what was going on.
" When was the last time you sharpened your axe?" the boss asked.
" Sharpen? I had no time to sharpen my axe. I have been very busy trying to cut trees..."
That's right. Most of us NEVER update our skills. We think that whatever we have learned is very much enough. But good is not good when better is expected. Sharpening our skills from time to time is the key to success
Tuesday 25 September 2012
Saturday 22 September 2012
Your Confidential information in PAN can be misused by other by ur negligence
Don't give PAN numbers until and unless it is necessary
Indian Railways: Abuse of PAN No for Tatkal bookings, Do not quote
Do not quote PAN for Tatkal bookings. Indian Railways display PAN as identity proof for Tatkal bookings.
The Railways have collect PAN for Tatkal bookings and display the PAN + name, sex and age of passengers on reservation charts pasted on railway compartments.
This is a
Indian Railways: Abuse of PAN No for Tatkal bookings, Do not quote
Do not quote PAN for Tatkal bookings. Indian Railways display PAN as identity proof for Tatkal bookings.
The Railways have collect PAN for Tatkal bookings and display the PAN + name, sex and age of passengers on reservation charts pasted on railway compartments.
This is a
boon for benami transactions. It is mandatory for traders like jewellers to collect tax (TCS) from customers on purchase of jewellery worth Rs 5 lakh & bullion worth Rs 2 lakh. While complying with TCS rules for collection, payment and uploading of TCS information (e-filing of TDS returns) jewellers have to furnish PAN of customers. For certain customers it is not convenient to provide PAN. To accommodate high net worth customers, traders have a easy source of benami PAN numbers, name, sex and age from reserved railway compartments. A traveller recently noticed a chap copying PAN particulars along with name, age and sex pasted on reserved compartments, and when confronted with the help of railway police, he admitted that he gets Rs 10 per PAN particulars from jewellers. These persons are copying PAN information of senior citizens, women etc from sleeper class with the intention that passengers in sleeper class are not serious tax payers and generally salaried class.
This wrong usage of a PAN number is known only to the regular tax payers, who regularly check their tax credit on form 26 AS provided by the Income Tax department on their website. This form 26 AS is updated only on filing of e-TDS returns by the traders. There is almost 6-12 months time delay for the PAN holder to know that a transaction of above nature has taken place on his name and that too only if he goes through form 26 AS. On noticing the tax credit of above nature while reconciling form 26 AS for tax credits for filing the return during subsequent financial year i.e. July / September, the tax payer has an option to exclude the same and go ahead in filing the return. In that case the department will first initiate action from the tax payer's side asking him to explain the sources of money for the above transaction done in his name and also to prove that he has not carried on the above transaction. The onus lies on the genuine tax payer for the fault committed by the traders. This dispute may even take more than 2 years to be settled.
In conclusion, the only way to protect yourself from these fraudulent transactions, is to avoid quoting PAN details for identity proof.
This wrong usage of a PAN number is known only to the regular tax payers, who regularly check their tax credit on form 26 AS provided by the Income Tax department on their website. This form 26 AS is updated only on filing of e-TDS returns by the traders. There is almost 6-12 months time delay for the PAN holder to know that a transaction of above nature has taken place on his name and that too only if he goes through form 26 AS. On noticing the tax credit of above nature while reconciling form 26 AS for tax credits for filing the return during subsequent financial year i.e. July / September, the tax payer has an option to exclude the same and go ahead in filing the return. In that case the department will first initiate action from the tax payer's side asking him to explain the sources of money for the above transaction done in his name and also to prove that he has not carried on the above transaction. The onus lies on the genuine tax payer for the fault committed by the traders. This dispute may even take more than 2 years to be settled.
In conclusion, the only way to protect yourself from these fraudulent transactions, is to avoid quoting PAN details for identity proof.
Sunday 16 September 2012
Thursday 13 September 2012
Applicability of the latest Finance Act and other changes for Company Secretaries December, 2012 Examination.
Clarification about Applicability of the latest Finance Act and other changes for Company Secretaries December, 2012 Examination.
DIRECT TAXES
All students may note that for Direct Taxes, applicable Assessment year for December 2012 Examination shall be 2012-13 (Previous Year 2011-12). Thus, Students are advised to study Finance Act, 2011 for December 2012 Examination. Further as per the Syllabus, (Executive and
Professional Programme) students are required to update themselves about all the Circulars, Clarifications, Notifications, etc. issued by the CBDT & Central Government, on or before six months prior to the date of the respective examinations.
Gift Tax Act has been excluded from the scope of the examination from June 1999 session onwards unless otherwise informed.
INDIRECT TAXES
Students appearing in the ‘Tax Laws’ (Indirect Tax Portion to the extent of topics covered in the syllabus, of ‘Executive Programme’) and Advanced Tax Laws and Practice (Professional Programme) respectively may take note of the following changes applicable for December 2012
Examination.
1. All changes made by the Finance Act, 2012.
2. All Circulars, Clarifications/Notifications issued by CBEC / Central
Government effective six months prior to the date of examination.
http://www.icsi.edu/docs/webmodules/student/DTIT_December2012.pdf
DIRECT TAXES
All students may note that for Direct Taxes, applicable Assessment year for December 2012 Examination shall be 2012-13 (Previous Year 2011-12). Thus, Students are advised to study Finance Act, 2011 for December 2012 Examination. Further as per the Syllabus, (Executive and
Professional Programme) students are required to update themselves about all the Circulars, Clarifications, Notifications, etc. issued by the CBDT & Central Government, on or before six months prior to the date of the respective examinations.
Gift Tax Act has been excluded from the scope of the examination from June 1999 session onwards unless otherwise informed.
INDIRECT TAXES
Students appearing in the ‘Tax Laws’ (Indirect Tax Portion to the extent of topics covered in the syllabus, of ‘Executive Programme’) and Advanced Tax Laws and Practice (Professional Programme) respectively may take note of the following changes applicable for December 2012
Examination.
1. All changes made by the Finance Act, 2012.
2. All Circulars, Clarifications/Notifications issued by CBEC / Central
Government effective six months prior to the date of examination.
http://www.icsi.edu/docs/webmodules/student/DTIT_December2012.pdf
Wednesday 12 September 2012
Tuesday 4 September 2012
BEST COACHING FOR CS STUDENTS IN LUCKNOW
WE ARE PROUD OF OUR MERITORIOUS STUDENTS
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MISS.NIKITA AGARWAL
AND CONGRATULATE THEM ON THEIR ACHIEVEMENT
INSTITUTE FOR CORPORATE ACHIEVERS announces its FELICITATION FUNCTION to honour its shining stars alongwith their parents on 3rd march, 2014 at the venue: RAI UMA NATH BALI auditorium, kaiserbagh, Lucknow.
For details contact :
3rd floor Chitrahar Building(opposite prince complex), naval kishore road, hazratganj, Lucknow
Contact number: - 0522-4011081; 8176882499
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INSTITUTE FOR CORPORATE ACHIEVERS announces its FELICITATION FUNCTION to honour its shining stars alongwith their parents on 3rd march, 2014 at the venue: RAI UMA NATH BALI auditorium, kaiserbagh, Lucknow.
For details contact :
3rd floor Chitrahar Building(opposite prince complex), naval kishore road, hazratganj, Lucknow
Contact number: - 0522-4011081; 8176882499
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MISS.NIKITA AGARWAL
(2ND TOPPER FROM THE CITY)
JUNE 2012 EXAMS
AND
CONGRATULATES ITS MERITORIOUS STUDENT
MISS. HARSHITA KANT
FOR SECURING ALL INDIA 19TH RANK IN CS EXECUTIVE EXAMINATION
DEC'2011
TO GET THE SCHEDULE OF NEW BATCH FOR CS
FOUNDATION/EXECUTIVE/PROFESSIONAL FOR
JUNE 2013
CALL THE CORPORATE OFFICE
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