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Taxclick Team, Author at All About Finance - Page 55 of 97

Taxclick TeamTaxclick Team

This is the team of the finance profession who, update the site on daily basis. The team is also responsible for giving the update as earliest and also give the timely reply to the quires asked by the visitors. The team can be reached at info@taxclick.org.

Shri Sai Urban Cooperative Bank Ltd allow its depositors to withdraw a sum not exceeding Rs.1000, for next six months

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The Reserve Bank of India has issued Directions to Shri Sai Urban Cooperative Bank Ltd., Mukhed, District Nanded, Maharashtra for a period of six months with effect from close of business as on July 01, 2015. According to the Directions, Shri Sai Urban Cooperative Bank Ltd., Mukhed cannot and without prior approval of the Reserve … Read more

The RBI has imposed a monetary penalty of Rs. 5.00 lakh on The Banaskantha Mercantile Co-operative Bank Ltd.

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The Reserve Bank of India has imposed a monetary penalty of Rs. 5.00 lakh (Rupees Five Lakh only) on The Banaskantha Mercantile Co-operative Bank Ltd., Palanpur, Dist. Banaskantha (Gujarat), in exercise of the powers vested in it under the provisions of Section 47A (1)(b) read with Section 46 (4) of the Banking Regulation Act, 1949 (As … Read more

Explanatory notes on provisions relating to tax compliance for undisclosed foreign income

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Circular No. 12 of 2015  Government of India  Department of Revenue  (TPL Division)   Dated 2nd of July, 2015 EXPLANATORY NOTES ON PROVISIONS RELATING TO TAX COMPLIANCE FOR UNDISCLOSED FOREIGN INCOME AND ASSETS AS PROVIDED IN CHAPTER VI OF THE BLACK MONEY (UNDISCLOSED FOREIGN INCOME AND ASSETS) AND IMPOSITION OF TAX ACT, 2015     … Read more

US-Dollar Cheque Collection – RBI FAQ

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One of the services rendered by banks as part of their normal banking operations is collection of cheques deposited by their customers, some of which, could also be drawn or payable on banks that are outside the country. Such cheques are called foreign currency cheques and, presently, a significant part of these cheques are US-Dollar … Read more

ICAI recommended to the Directorate of Income tax (Systems) to make changes in the tax audit form for adherence to ceiling on number of tax audits

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1.  Pursuant to C&AG’s Report `Performance Audit on Appreciation of Third Party (Chartered Accountants) – Reporting in Assessment Proceedings’ for the year ended March, 2014, the President, in terms of the authority given to him by the Council at its 340th meeting held in February, 2015, had constituted the Group comprising of the following members: CA. … Read more

Pre-2005 series banknotes – FAQ

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1. What are the pre-2005 series banknotes? The RBI issued Mahatma Gandhi series (MG series) 2005 banknotes in the denomination of Rs. 10, Rs.  20, Rs.  50, Rs.  100, Rs.  500 and Rs. 1000. These notes contain some additional / new security features as compared to the 1996 MG series. All banknotes issued before the 2005 MG series are called as pre-2005 … Read more

Due dates of income tax in July 2015

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7 July 2015 – Due date for deposit of Tax deducted/collected for the month of June, 2015 7 July 2015 – Due date for deposit of TDS for the period April 2015 to June 2015 when Assessing Officer has permitted quarterly deposit of TDS under Section 192,194A, 194D or 194H 15 July 2015 – Quarterly statement of TDS/TCS deposited … Read more