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Type Archives - Page 115 of 124 - All About Finance

Pradhan Mantri Jan-Dhan Yojana (PMJDY) – Scheme Details

Scheme Details Pradhan Mantri Jan-Dhan Yojana (PMJDY) is National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner. Account can be opened in any bank branch or Business Correspondent (Bank Mitr) outlet. PMJDY accounts are being opened with Zero balance. … Read more

The clauses of Memorandum of Association under company Act 2013 and Format of MOA

As per Schedule I of the Company act 2013 Memorandum of association of company limited by shares has six clauses, which are described below:- 1) Name Clause: – Under this clause name of company is stated, as approved by MCA. 2) Registered Office Clause: – The memorandum must mention the state in which registered office of the … Read more

Limit of free ATM transactions in other bank is revised from 1st November 2014

Reserve bank of India has issued the notification as on 14th August 2014 and instructs the all commercial and co-operative banks for rationalization of number of free ATM transaction. The number of the ATMs is increased to 1.6 lacks across the country by March 2014. Few banks and Indian Bank’s Association had approached the RBI … Read more

Disciplinary Committee of ICAI found the concerned Statutory Auditors including audit in charge, CFO of the Company and Head of Internal Audit Department guilty of professional misconduct in Satyam scam

As a part of ICAI’s continuous drive to uphold the credibility, integrity and image of the accountancy profession in India, the regulatory mechanism of ICAI is working assiduously. Disciplinary Directorate of ICAI has been taking disciplinary action against its errant members as per the provisions of the Chartered Accountants (Amendment) Act, 2006 and Rules framed … Read more

Representation Form No. 3CEB for reporting of International Transactions and Specified Domestic Transactions

File No. ICAI/ClTAX/2014-15/Rep/02 THE ]INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up by an Act of Parliament) ‘ICAI Bhawan’, Indraprastha Marg, New Delhi – 110 002. INDIA Dated: 13/11/2014 Sh. Ashish Abrol Directorate of Income Tax (Systems), Aayakar Bhawan, Vaishali, Sector-3, Ghaziabad, 201010, Uttar Pradesh   Subject: Representation Form No. 3CEB for reporting of International … Read more

Abatement chart under service tax

Abatement means reduction or decrease of amount from taxable value of services. Service provider has to pay service tax after arriving at appropriate value of service as per section 67 of Finance Act, 1994 read with the Service Tax (Determination of Value) Rules, 2006. The Government can provide for reduction in the value of any … Read more

How SOPs serve as knowledge management tools

I take pride in telling my CMA professional colleagues, that if there is one area where CMAs beat hands down to other professionals (read chartered accountants, whom we are always jealous of and therefore continue to benchmark) colleagues it is “processes” Having privileged to work on processes and process manual in five companies by now, … Read more

TDS rate chart for F.Y. 2014-15, due date of TDS payment and due dates of filing of TDS return

A person responsible for making payment of income which is covered by provisions TDS (Tax Deducted at Sources), is required to deduct tax at source and deposit the same to the Government within the prescribed time. A person who deducts TDS is called as ‘deductor’ and person whose tax has been deducted is called ‘deductee’. Tax will deduct on … Read more

Details of new composition scheme under MVAT for retailers and analysis whether to opt composition or not?

What is new composition scheme for MVAT dealer and its applicability? Deputy Chief Minister of the Maharashtra state announced the new composition scheme for retailers in his budget speech. The sales tax department comes with the trade circular No. VAT/AMD/2014/8/ADM-8 dated 20/09/2014 regarding the new retailer’s composition scheme.  The old composition scheme is expired with effect from 30th September … Read more