Tds Tax India

Interest Rate on Small Saving Schemes

2012-02-01T08:15:00.000+05:30

Friends, In the last month, Finance Department has revised on interest rates of Small Saving Schemes on 01.12.2011. At the time of revision of interest rates, it was indicated that analysis on Interest Rates on Small Saving Schemes will be done each year in future on the basis of market position. It means nature of...

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e-tds/e-tcs NSDL RPU in Windows 7

2012-01-31T08:04:00.003+05:30

HOW TO RUN ETDS NDSL RPU IN WINDOWS -7 Friends, If your operating system is Windows 7 in you desktop or laptop and want to run NSDL e-tds/e-tcs Return Preparation Utility (R.P.U.). In general, after installation/setup of software, it does not work in Windows 7, whereas there is no difficulty in Windows XP etc. Don't...

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E-tds/E-tcs :-What is new in New RPU 2.7 with FVU 3.3 and FVU 2.131 applicable w.e.f. 1st Feb, 2012

2012-01-29T09:22:00.000+05:30

Friends, It is necessary to know that earlier NSDL RPU 2.6 was running , but now RPU 2.7 will be applicable w.e.f. 1st February, 2012. RPU 2.7 will create fvu file with FVU 3.3 or FVU 2.131. These file validity utilities include more controls in the interest of users. After the validation from these utilities, less...

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No Penalty on surrender amount during Survey.

2012-01-28T17:47:00.000+05:30

Delhi High Court : - Commissioner of Income Tax Vs SAS Pharmaceuticals : (2011) 199 Taxmann 255 (Magazine) Income Tax Act Section 271(1) (c) says that if any person conceal his income than as per this section penalty can be imposed one time of the amount of Income Tax to three time of the amount of Income Tax. In...

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New Decision of Stock Valuation Method in Scrutiny and Appeal

2012-01-27T08:16:00.000+05:30

Stock Valuation not on basis of Market Value. Commissioner of Income Tax Vs C Jayanti Lal (2011) 199 Taxmann 34 (Magazine) : During scrutiny of this case, ITO has added income worth Rs. 17.71 Lakh due to difference in stock amount. ITO has calculated Stock on the basis of Market Value. Due to this an amount of Rs. 17.71 Lakh has been...

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Income Tax Calculator for Financial Year 2011-12 (Assessment Year 2012-13)

2012-01-25T07:55:00.001+05:30

Friend, Latest Income Tax Calculation in Excel As per finance Bill 2011, Income Tax Calculator in excel sheet for the Financial Year 2011-12 or Assessment Year 2012-13 is ready. Employee wise data can be stored in it. Mainly this file is much helpful at the time of e-filing of annual return of salary data or to make...

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Bootable USB Drive Creator Tool

2012-01-24T07:30:00.001+05:30

HOW TO CREATE BOOTABLE USB DRIVE Many times, we feel that C.D. writer attached in computer does no work, due to less use of CD drive or not attached in computer. In the absense of CD writer etc., bootable programme can not be installed in computer. In such case, user feels difficulty in...

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Liability to Pay Advance Tax Installment.

2012-01-24T07:18:00.001+05:30

All About Regarding Advance TaxAdvance Tax Calculator Apart from Deduction of Tax at source while making various payments, Advance Tax is compulsory for every assessee as per Section 210 under Indian Income-Tax act 1956. In case tax on assessee's estimated income of current year comes to Rs....

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Traffic Rules, Hand Signals by Driver

2012-01-24T06:50:00.001+05:30

I am happy to draw your attention on Hand Signals by Drivers. Your devotion of 10 minute can save life anytime. So read below some hand signals by drivers carefully. Other Road signs Mandatory/Warning/Informatory (Click Here) Hand Signals by Policeman (Click Here)

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Deposit Rs. 1,00,000 in PPF instead of Rs. 70,000

2012-01-22T19:00:00.002+05:30

Amendment of Rs. 1 Lakh has been done in Provident Fund Scheme, 1968. Earlier an investor can only invest Maximum Rs. 70,000 in PPF account in a year. But now he can deposit Rs. 1 lakh vide notification of Department of Economic affairs dated 25 th November, 2011 New Delhi. Detailed notification is given as under:...

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FDR Interest Calculator on Maturity/Pre-matured/Re-Invest

2012-01-21T08:25:00.000+05:30

Friends, Nowadays, Interest rates on Bank Deposit/FDR are being changing time to time. As an investor it is great problem to deposit his money in Bank etc. As and when he Deposit money for a particular period i.e. 1 year, 2 year or 5 year etc. Bank change interest rate in few days or increased interest rate. In such...

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L&T Infra -Tax Saving Bonds

2012-01-20T08:14:00.000+05:30

Now, L&T has issued infrastructural bond for those who want to save more than Rs 1,00,000. With the help of such type of bonds, income tax assessee can save extra benefit of saving of Rs. 20,000.00 under section 80CCF. Credit rating of L&T is CARE AA [ICRA] AA+. Opening Date of issue is 10th January,...

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New Income Tax Slab/Rate

2012-01-20T07:36:00.000+05:30

Latest/New Slab of Income Tax(for Individuals and HUF's )To view and download (click here) As a human, it is not possible to remember all Income Tax Rates for all years. There are many reasons for requirement of Income Tax Rates/Slabs for last years like scrutiny, filing of last year Income Tax Returns etc. Therefore...

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House/Home Loan Interest Certificate

2012-01-19T08:02:00.000+05:30

Nowadays, .Salaried persons are busy in computing their salary for the Financial Year 2011-12, so that proper tax deduction can be done from their salary. In case deductor deduct excess TDS from the salary of any employee, the excess deducted amount will be received by employee after a time gap. Keeping in view these things, State...

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E-tds/E-tcs Correction in challan Mechnaism

2012-01-18T08:24:00.000+05:30

Challan Correction MechanismUnder OLTAS (On Line Tax Accounting System), the physical challans of all Direct Tax payments received from the deductors / taxpayers are digitized on daily basis by the collecting banks and the data transmitted to TIN (Tax Information Network) through link cell. At present, the banks are permitted to correct data...

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Employees -Tax Free Perquisites

2012-01-17T08:47:00.000+05:30

How to Save Income Tax on SalaryAll Tax Free Perquisites for Salaried employees are explained below :- Medical Facility or Medical Reimbursement: (a) Medical Facility :- The value of any medical treatment provided to an employee or any member of his family in a hospital, dispensary or a nursing home maintained by the employee shall be...

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Calculators (Completely Free)

2012-01-16T07:57:00.001+05:30

Friends Now excel based free calculators are available for registered readers. Enter your email id in below box and check your inbox or spam emails. There is link of Feed Burner to accept the registration. Download Calculators Enter your email address: Delivered by FeedBurner Download Calculators (Don't Use Space...

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How to Convert File Extension .XLSx to . XLS (ONLINE)

2012-01-11T11:00:00.004+05:30

At any time or at any place, conversion from .xlss to .xls can be required. Sometimes we feel that someone has sent us a excel based file but we are unable to open it. Out of different reasons, there may be a reason that you have Microsoft Office 2003 in your computer or received excel based file relates to Microsoft Office 2007....

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Exemption from Filling of Income Tax Return

2012-01-06T07:20:00.001+05:30

Friends, Now a days , many persons are waiting for Notification for exemption from filling of Income Tax Return. Without notification nothing is clear like from which Financial Year exemption will be given, having interest income on Saving Bank Deposit will be treated for exemption for filling of Income Tax Return etc. NO...

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Exemption from Income Tax Return with salaried income below 5 Lakh Rupees

2012-01-06T07:10:00.001+05:30

Salaried taxpayers who do not have other sources of income and whose income are below5 lakh rupees per annum, are being exempted from filing income tax return. The Finance Minister Mr. Pranab Mukherjee said on Tuesday (i.e. 24th May,2011) that this will apply in 2011-12 assessment year for the income earned in 2010-11. He said that a notice...

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New NSDL RPU 2.7,New FVU 3.3,New FVU 2.131

2012-01-05T21:39:00.001+05:30

NSDL has released New RPU Version 2.7 with New FVU version 3.3 and FVU version 2.131. Through this RPU all original or correction returns w.e.f. financial year 2005-06 can be prepared. Special feature in this RPU is that updation in all fields except Reason for Lower deduction/no deduction/ higher deduction /Threshold can be done...

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e-tds Defaults- Intimation u/s 200A of I.T. Act, 1961 for financial year 2009-10 or another

2012-01-05T08:03:00.001+05:30

Income Tax Department has issued Default Letters to the e-tds/e-tcs Deductors/Collectors. Summary of defaults are given in the following formats. S.No. RRR Number Short Deduction -Amount Short Deduction -Interest Short Payment -Amount Short Payment -Interest Late Payment Interest -till dt of deposit of tax Late Payment Interest -till dt...

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Convert .docx to .doc

2012-01-03T07:28:00.004+05:30

How to open a file having extension code .docx in word. No doubt that the file having extension code .docx relates to Microsoft Office, but it generates only in Office 2007 or Later. In case you have installed Office 2003 in your computer you can not save any word document with extension code .docx. You can save...

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Happy New Year 2012

2012-01-01T08:46:00.001+05:30

No Greeting Cards to Give No Sweet Flowers to SendNo Cute Graphics to Forward Just ...A LOVING HEART SAYING;HAPPY NEW YEAR 2012 to ALL HAPPY NEW YEAR 2012HAPPY NEW YEAR 2012

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Latest IFCI Infrastructure Bonds Series-4 -Close Date is 16th Jan. 2012 (80-CCF)

2011-12-31T08:38:00.000+05:30

IFCI has issued Tax Saving Infrastructure Bonds -Series-4 for investment of Rs. 20,000/- under section 80-CCF. Last date for submission of application is 16th Jan. 2012. There are two options having interest 9.09% and 9.16%. To download the application form some information is required like Name, Email Address, Contact Number,...

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