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Thursday, March 1, 2012

Phone Manners -Observe phone atiquette at all times.

"Good Manners" display respect, care, and consideration. Everyone has a basic right to help another and feel positive about themselves and others around them. In our age of self-satisfaction, technology and instant internet gratification, it is often hypothesized that we care more for our equipment than those for whom they are made.
It's common sense that people prefer a reasonable amount of respect. If you nurture plants, animals, or other humans, not only will they grow and bloom - but you will as well. Outside of material goods the basic things we all really own are ourselves and our actions. It's really good to have good manners. Without good manners, we cannot live a great life. So it's important.
 
 
"Good Manners" display respect, care, and consideration. Everyone has a basic right to help another and feel positive about themselves and others around them. In our age of self-satisfaction, technology and instant internet gratification, it is often hypothesized that we care more for our equipment than those for whom they are made.
It's common sense that people prefer a reasonable amount of respect. If you nurture plants, animals, or other humans, not only will they grow and bloom - but you will as well. Outside of material goods the basic things we all really own are ourselves and our actions. It's really good to have good manners. Without good manners, we cannot live a great life. So it's important.
 
Think about phone manners and observe appropriate phone etiquette at all times.
     
  • If you need to use the phone, excuse yourself outside or to a quiet room/hallway.
  • Don’t phone before 7:00 am and after 9:00 pm unless in an emergency or an important overseas call. Also avoid calling people during meals, work, and school. People don't expect you to drop in and visit at these times, unless it is arranged. This includes texting, though you would obviously not text for emergencies.
  • Ensure the number you have is correct. If you do disturb someone and it’s the wrong number then ‘please’ have the decency to say, “I’m so sorry! I have the wrong number!” DO NOT just hang up. That individual may be ill, in a wheelchair, or elderly, etc., so you should show respect and apologize for their inconvenience. Likewise, if a person with a wrong number phoned you, politely point out that they have called the wrong number.
  • Check your voice! It carries much more than just a tone, and reflects your character and personality even on the phone! Remember: your listener cannot see you, so your phone-voice becomes your facial expressions, gestures, personality, and character. Always check your voice when speaking; speak in a pleasant tone and very clearly. Smile through your voice! What they hear will make a positive or negative impression.
  • When someone answers the phone don’t be harsh and abrupt by telling them what you want first. This confuses them and makes them wonder who you are. You also appear very rude, which is bad if you need a favor from them. It gives the wrong impression before you start! And don’t say, “Who is this?” You phoned them, so introduce yourself and state who you are and what you want – politely! For example; say “Hello, my name is Mrs. Peppermint, I'd like to speak to Mrs. Sally Lemon. Is she available?” If the person is not there, state to the person on the phone whether you will call back later or request they call you back. Or if you are making inquiries, state; “Hello, this is Mrs. Peppermint. I saw an advert in the local paper for a shop assistant; is that position still open?” When finished, say, “Thank you for your help. Goodbye” and be genuine! Now ensure you give them time to say ‘Goodbye’ too!
  • Give people a chance to answer their phone! They could be outside in their garden, knitting, baking, washing the car, or at another end of the house. Don’t just ring three times and hang up! It's annoying when you stopped doing something and just as the phone gets to your ear the caller hangs up!
  • Don’t spend an hour (or hours) chatting to someone. Don't waste people's time or disturb the household! It’s one of the biggest turn-off’s to having a friendly chat! They will not want to talk to you again.
  • Answering your phone: Again – don’t forget to check your voice! Just be pleasant and polite and say, ‘Hello’. Avoid saying, 'Good afternoon, Smith residence' or 'John Smith speaking'. It's too dangerous today. If you are alone and you don’t know who the person is, don't tell them no-one is home or your husband is working, etc. Always pretend someone else is there. Use wisdom and good old-fashioned common sense! Be safe!
  • If the call is for someone else, say something such as; “One moment please, I'll just go and call them for you.” Put the receiver down gently. If who they want to speak to is unavailable, say, “I’m sorry, Sally isn’t available right now. May I take a message for her and ask her to phone you as soon as she can?”
  • If you must carry on two conversations at once you should always excuse yourself from one and resume it later. Say, "I'm sorry, can you hold on a minute; my boss is telling me something," and wait for the person's answer. If the personal conversation will last more than a minute, it would be better to ask, "Can I call you back? My mother needs to talk to me and it may take a few minutes."
  • In case of needing a restroom break, say something to get off the phone, without sharing too much information. All you really need to say is 'Can you hold on for a few minutes? I will be right back.'
  • When talking on the phone in a public space, keep in mind that everything you say is no longer just your news. Keep your voice at "indoor voice" level, or lower. Generally, people with good manners don't talk about potentially embarrassing private issues in public.
  • When on the phone, don't talk with others in the room. What's worse than having a phone conversation with one who chats, perhaps not listening to what you're saying, and you can't tell if they are speaking to you or others. If someone tries to talk to you, simply point to your phone and they will get the message.
  • Avoid using the computer while on the phone unless it's part of customer services. It is extremely rude and unpleasant when someone makes you listen to a clacking keyboard.
  • Turn off your phone in films and don't text while pretending to pay attention to someone else. Never call during meals or important ceremonies, where mobiles should always be switched off at all times.
  • Refrain from using your cell at check-out counters it is bad taste and horribly rude to talk on your cell while having an interaction with other individuals - particularly those people who are handling your money, be it in the grocery store, the mall or at a petrol station. It is unacceptable to treat cashiers as ATMs. Get off the phone, do your business, and then resume your call at a more appropriate time.
  • When with others in a social setting, try to refrain from using your cell phone. It implies you'd rather be somewhere else, with someone else, and that who you are with is less important.
     
  • If you need to use the phone, excuse yourself outside or to a quiet room/hallway.
  • Don’t phone before 7:00 am and after 9:00 pm unless in an emergency or an important overseas call. Also avoid calling people during meals, work, and school. People don't expect you to drop in and visit at these times, unless it is arranged. This includes texting, though you would obviously not text for emergencies.
  • Ensure the number you have is correct. If you do disturb someone and it’s the wrong number then ‘please’ have the decency to say, “I’m so sorry! I have the wrong number!” DO NOT just hang up. That individual may be ill, in a wheelchair, or elderly, etc., so you should show respect and apologize for their inconvenience. Likewise, if a person with a wrong number phoned you, politely point out that they have called the wrong number.
  • Check your voice! It carries much more than just a tone, and reflects your character and personality even on the phone! Remember: your listener cannot see you, so your phone-voice becomes your facial expressions, gestures, personality, and character. Always check your voice when speaking; speak in a pleasant tone and very clearly. Smile through your voice! What they hear will make a positive or negative impression.
  • When someone answers the phone don’t be harsh and abrupt by telling them what you want first. This confuses them and makes them wonder who you are. You also appear very rude, which is bad if you need a favor from them. It gives the wrong impression before you start! And don’t say, “Who is this?” You phoned them, so introduce yourself and state who you are and what you want – politely! For example; say “Hello, my name is Mrs. Peppermint, I'd like to speak to Mrs. Sally Lemon. Is she available?” If the person is not there, state to the person on the phone whether you will call back later or request they call you back. Or if you are making inquiries, state; “Hello, this is Mrs. Peppermint. I saw an advert in the local paper for a shop assistant; is that position still open?” When finished, say, “Thank you for your help. Goodbye” and be genuine! Now ensure you give them time to say ‘Goodbye’ too!
  • Give people a chance to answer their phone! They could be outside in their garden, knitting, baking, washing the car, or at another end of the house. Don’t just ring three times and hang up! It's annoying when you stopped doing something and just as the phone gets to your ear the caller hangs up!
  • Don’t spend an hour (or hours) chatting to someone. Don't waste people's time or disturb the household! It’s one of the biggest turn-off’s to having a friendly chat! They will not want to talk to you again.
  • Answering your phone: Again – don’t forget to check your voice! Just be pleasant and polite and say, ‘Hello’. Avoid saying, 'Good afternoon, Smith residence' or 'John Smith speaking'. It's too dangerous today. If you are alone and you don’t know who the person is, don't tell them no-one is home or your husband is working, etc. Always pretend someone else is there. Use wisdom and good old-fashioned common sense! Be safe!
  • If the call is for someone else, say something such as; “One moment please, I'll just go and call them for you.” Put the receiver down gently. If who they want to speak to is unavailable, say, “I’m sorry, Sally isn’t available right now. May I take a message for her and ask her to phone you as soon as she can?”
  • If you must carry on two conversations at once you should always excuse yourself from one and resume it later. Say, "I'm sorry, can you hold on a minute; my boss is telling me something," and wait for the person's answer. If the personal conversation will last more than a minute, it would be better to ask, "Can I call you back? My mother needs to talk to me and it may take a few minutes."
  • In case of needing a restroom break, say something to get off the phone, without sharing too much information. All you really need to say is 'Can you hold on for a few minutes? I will be right back.'
  • When talking on the phone in a public space, keep in mind that everything you say is no longer just your news. Keep your voice at "indoor voice" level, or lower. Generally, people with good manners don't talk about potentially embarrassing private issues in public.
  • When on the phone, don't talk with others in the room. What's worse than having a phone conversation with one who chats, perhaps not listening to what you're saying, and you can't tell if they are speaking to you or others. If someone tries to talk to you, simply point to your phone and they will get the message.
  • Avoid using the computer while on the phone unless it's part of customer services. It is extremely rude and unpleasant when someone makes you listen to a clacking keyboard.
  • Turn off your phone in films and don't text while pretending to pay attention to someone else. Never call during meals or important ceremonies, where mobiles should always be switched off at all times.
  • Refrain from using your cell at check-out counters it is bad taste and horribly rude to talk on your cell while having an interaction with other individuals - particularly those people who are handling your money, be it in the grocery store, the mall or at a petrol station. It is unacceptable to treat cashiers as ATMs. Get off the phone, do your business, and then resume your call at a more appropriate time.
  • When with others in a social setting, try to refrain from using your cell phone. It implies you'd rather be somewhere else, with someone else, and that who you are with is less important.
 
CA AMRESH VASHISHT, FCA, LLB,DISA(ICAI)

No scrutiny up to 10 Lakh and senior citizen exempted fy 2011-12

End of  Financial year 2011-12 is coming near . The Income Tax Department has earlier released a good press note  that tax returns filed by senior citizens above 60 years and small taxpayers with gross total income of less than Rs. 10 lakh will not be scrutinised in a routine manner.

"It has been decided that during the financial year 2011-12, cases of senior citizens and small taxpayers, filing income-tax returns in ITR-1 and ITR-2 will be subjected to scrutiny only where the Income Tax department is in possession of credible information," Central Board of Direct Taxes said in a statement.

Appreciating the concerns of these taxpayers and with a view to mitigate their hardships, it said, Central Board of Direct Taxes has reviewed its scrutiny selection procedure.

Senior citizens for this purpose would be individual taxpayers who are 60 years of age or more. Small taxpayers would be individual and HUF taxpayers whose gross total income, before availing deductions does not exceed Rs. 10 lakh, it said.

Scrutiny of income tax returns is an important mechanism for ensuring taxpayer compliance and to counter tax-evasion, it said

ARTICLE-SHIP vacancy in pune

  mail id : -  bagrechandassociates@gmail.com .
The office is held by Principal CA Sneha S. Bagrecha ( B.com , ACA , CS )
The Location of the Office shall be Pune as Under Mentioned.

The location for the office is 

F-7, 2nd Floor, Butte Patil Pride,
Near Shivaji Statue, 
Chandannagar,
Pune - 411 014

Ph : 020- 2701 9233

Ethical issues in Question- Answer form

Ethical issues in Question- Answer form

Q. What is `professional or other misconduct' ?
A. `Professional or other misconduct' refers to an action or omission listed out in the two schedules of the CA Act, 1949 . However, this does not purport to be a comprehensive definition as the scope of this term is expanding in view of the power conferred under the Act on the Director (Discipline) to enquire into the conduct of members under any other circumstances.

Q. What is the distinction between the two Schedules?
A. The two Schedules are distinguished on the basis of gravity of misconduct described therein. The misconduct listed in the Second Schedule is understood to be grave and serious prescribing higher punishment.

Q. Can a Member in practice render ` Management Consultancy and other Services'?
A. Yes, the areas permitted under the ` Management Consultancy and other Services' have been specified by the Council ( appearing at pages 103-104 of the Code of Ethics, 2009 ) pursuant to Section 2 (2)(iv) of the CA Act, 1949.

Q. Whether a member in practice permitted to undertake the management of NRI funds?
A. No, a member in practice is not permitted to undertake such services as it is not covered under ` Management Consultancy and other Services' specified by the Council.

Q. Can a chartered accountant in practice provide `Portfolio Management Services'(PMS)?
A. No, as the ` Management Consultancy and other Services' expressly bars the activities of broking, underwriting and portfolio management.

Q. Can a chartered accountant undertake practice after getting the CA final pass certificate?
A. No, a chartered Accountant requires the Certificate of Practice (CoP) issued by the Institute after getting the final pass certificate to practice as a chartered accountant.

Q. Can a chartered accountant in practice work as a ` collection agent'?
A. No, a chartered accountant in practice can not work as a ` collection agent' as, the ` Management Consultancy and other Services' specified by the Council , do not permit such engagement.

. Can a chartered accountant in practice agree to select and recruit personnel , conduct training programmes and work studies for and on behalf of client?
A. Yes, the ‘ Management Consultancy and other Services’ as specified by the Council includes both, personnel recruitment and conduct of training programmes and work studies. As such, the same are permitted for a chartered accountant in practice.

Q. Whether a member can act as insurance agent and arrange business for the Insurance Companies?
A. No, a member in practice is permitted to render Insurance Financial Advisory Services only. It is not permissible to a member to do any kind of marketing and business procurement for any insurance company. Their services are limited to professional services in the form of advisory and consultancy services.

Q. Whether Code of Ethics is applicable outside India?
A. The Code of Ethics of the Institute is applicable to all the members , even outside India.

Q. Can a chartered accountant in practice allow any person to practice in his name as a chartered accountant ?
A. No, a chartered accountant in practice is prohibited to allow any person to practice in his name as a chartered accountant unless such person is also a chartered accountant in practice and is in partnership with or employed by him.

Q. Can a chartered accountant in practice secure any professional business through the services of a person who is not his employee or partner?
A. No, the CA Act , 1949 does not permit a practicing chartered accountant from securing, either through the services of a person who is not an employee of such chartered accountant or who is not his partner, any professional business.

Q. Whether a member in practice is permitted to respond to announcement for empanelment for allotment of audit and other professional work and quote fees on enquiries being received?
A. It has been clarified by the Council that if announcements are made for empanelment by Government, Corporations, Courts, Cooperative Societies, Banks and other similar Institutions, the members may respond to such announcements provided the existence of panel is within their knowledge. The Council has further clarified that the quotations of fees can be sent if enquiries are received by the members in this regard.

Q. Whether a member in practice is permitted to have his name published in Telephone Directory?
A. Yes, a member in practice is permitted to have his name published in the Telephone Directory subject to certain conditions :-
The entry should appear in the section/category of “Chartered Accountants“.
The member/firm should belong to the town/city in respect of which the directory is being published.
The entry should be in normal type of letters. Entry in bolder type or abnormal type of letters or in a box is not permissible.
The order of the entries should be alphabetical and logical.
The entry should not appear in a manner giving the impression of publicity/advertisement. Entry should not be given in a manner which gives prominence to it as compared to other entries.
The payment, if any, for the entry should not be unreasonable.
The entries should not be restricted and should be open to all the chartered accountants/firms of chartered accountants in the particular city/town in respect whereof the directory is published.
Subject to the above conditions, the members can also include their names in trade directories which are published and/or otherwise available such as electronic media e.g. Internet, telephone services like “Ask Me Services“ etc.
Q. Can a member in practice indicate in a book or an article, authored /contributed/published by him, his association with any firm of Chartered Accountants?
A. No, as per CA Act, 1949, a member is not permitted to indicate in a book or an article, authored/contributed/published by him, his association with any firm of Chartered Accountants.

Q. Can a Chartered Accountant in practice seek professional work from his professional colleagues?
A. Yes, as per CA Act , 1949 a member is permitted to apply or request for, or to invite, or to secure professional work from another Chartered Accountant in practice.

Vacancy at Century NF Casting (A Div. of Century Aluminium Mfg. Co. Ltd.)


Requirement of Cost Accountant
Century NF Casting (A Div. of Century Aluminium Mfg. Co. Ltd.) need the cost account having 1-2 years experience. We are the largest manufacturer of Aluminium & Zinc Alloys in Northern India confirming to various Indian and International Standards. We are an ISO/TS 16949:2009 Company manufacturing nearly 62000 MT Aluminium Alloy, Zinc Alloy Ingots (50000 MT of Aluminium Alloy & 12000 MT of Zinc Alloy) annually and also 1000 MT of Pressure Die Casted components. We are supplying Alloys to almost all the major Original Equipment Manufacturers and their ancillaries in India and Die Casted Components to major customers in India . In addition to this we are also exporting Aluminium and Zinc Alloys to number of countries. Our group turnover is 580 crores.
Following are the key responsibilities:
1. Costing of final product
2. Maintenance of cost accounting records as per CARR
3. Monthly MIS of costing (Std Vs Act)
4. Valuation of Inventories at various stages
5. Monthly department wise expense statement.
Interested candidates may submit their CV to bg@cnfcindia.com
Amit Gupta
Century NF Casting (A Div. of Century Aluminium Mfg. Co. Ltd.)(ISO/TS 16949:2009)Plot No. 1, Sector–25, Faridabad – 121 004 (Haryana) India T: +91- 129 - 3058000-04 F: +91-129 - 2235356E: bg@cnfcindia.com W: www.cnfcindia.com

Sebi's forensic accounting team is a welcome move to expose frauds


    Kautilya listed 40 ways of embezzlement in the Arthashastra centuries before fictional detective Sherlock Holmes pursued forensics as a science. Even if it comes a century after Holmes, Sebi's move to form a separate forensic accounting team to detect fraudulent transactions of companies is welcome. An in-house team will strengthen investigation and force companies to improve their corporate governance. The regulator has reportedly been flooded with investor complaints accusing companies of rigging their financial statements. Forensic accountants are needed to unravel complex accounting jugglery hidden in financial statements. These auditors sift through numbers to sniff out corporate crime. And early warnings from them would enable the regulator to take pre-emptive action. The scam at the erstwhile Satyam Computer Services is a telling example of regulatory failure to detect a mammoth fraud early on. Forensic auditors were put on the job after the promoter B Ramalinga Raju confessed to fudging the IT firm's books.They had limited success, but enough to ask whether the country's premier investigating agencies — the Central Bureau of Investigation and Serious Frauds Investigation Office — and auditors have the expertise to unearth complex accounting frauds. So, Sebi's move to ready a cadre of forensic accountants with specialised skill-sets is a good idea. Surely, these auditors can identify, expose and prevent weaknesses in areas such as poor corporate governance, flawed internal controls and fraudulent financial statements. They can be useful in recommending auditing and accounting standards as well.
Globally, many regulators have dedicated teams of forensic accountants who work with other teams over routine financial disclosures. The Office of the Chief Accountant in the US Securities and Exchange Commission, for example, assists other departments in investigation and ensures that financial statements are presented fairly to investors. The forensic accounting team in Sebi can play a similar role. In any case, better late than never.

Update Tally.ERP9 License immediately


With the financial year-end close by,we are all going through a busy period.It is also the time when the hackers and pirates are most active to exploit a Tally license. Our monitoring shows that there is a sudden surge in spurious activities related to licensing.Therefore,we are implementing an immediate change in our validation.
We need a little co-operation from you in this regard to ensure that your operations continue to run smoothly and your license becomes more secure. Tally.ERP 9 will revalidate your license and may remove it automatically after certain checks.
Our genuine customers can apply any of the following simple procedure to continue working.
a.Change your system date to one day ahead i.e. 1st March 2012. Reactivate your license (F12-Licensing->Reactivate License). You can continue working with this date and license for the entire day. Restore your date back to normal on the next day.
OR
b.You can download the latest release Tally.ERP 9 Release 3.31 from our website www.tallysolutions.com. Reactivate your license(F12-Licensing-> Reactivate License). You can now continue working with the latest release.
We appreciate your time and co-operation in this regards and will do everything possible for your benefit as a genuine customer of Tally.
Please feel free to contact your Tally partner.  You can also reach us at our Toll free Tally Support at 1800-425-8859 / 1800-22-8859

Warm Regards
Tally Support Team

Urgent Vacancy for CA 0-1 years exp. near Lucknow


There are some urgent vacancies in a Sugar Mill near Lucknow for CAs 0-1 Years in experience. The salaray package will be anything between 3.50 - 4.00 lacs.
Please send the cv(s) of interested candidates on rupakagarwal81@gmail.com.
 
Thanks and Regards 
 
CA Rupak Agarwal
B.Com, FCA, LL.B.
Chartered Accountants
538 ka/1552 Triveni Nagar II
Lucknow-226020
Ph: 0522-2756646, 9839125100

CAT Passes Strictures At "Mutual Acrimony" Between ITAT Members

D.K.Srivastava vs. UOI & Ors (Central Administrative Tribunal)

Concern expressed at “mutual acrimony” between Members of Chandigarh Bench

The Applicant, an Accountant Member of the Tribunal, was transferred from Chandigarh to Rajkot. He challenged the transfer on the ground that it was punitive and had arisen because of a complaint against him by a Judicial Member. It was alleged that the Sr. VP, who decided the complaint, had indicted him without a hearing and that the said VP was part of the Collegium which had recommended the transfer. In turn, the Judicial Member alleged that she had been subjected to harassment by the Applicant and other Members of the Chandigarh Bench. She claimed that she had heard a bunch of appeals with the Applicant and that though she had drafted the judgement, the Applicant did not sign it till he sat on another Bench and decided another bunch of appeals by taking a contrary view to the view taken by her. She claimed that the Applicant had “purposely” kept the draft judgement in abeyance in order to be able to take a different view in another Bench while the Applicant alleged that there was something “extra judicial in her mind“. HELD by the CAT, dismissing the application:

(Click Here To Read More)

MANAGING COMMITTEE OF Varanasi Branch of CIRC for the Year 2012-2013

MANAGING COMMITTEE OF
Varanasi Branch of CIRC for the Year 2012-2013
Sl No.

Name of the Member
Designation
Office Address
Residential Address
1
CA Santosh Kumar Singh
Chairman
D-59/273, A-1, Shivpurwa,
Mahmoorganj, Varanasi
Phone:(O) 0542-2220524
Mobile: 9838833222
D-59/273, A-1, Shivpurwa, Mahmoorganj, Varanasi, Mob. No. 9838833222 Ph. No. 0542-2220524

2
CA Pyare Krishna Agrawal
Vice-Chairman &
Treasurer
K.61/101, Shiva Complex, IInd Floor, Bulanala, Varanasi, Phone: (O) 0542-3295599,2333673
Mobile: 9839050314
K.30/54A, Bibihatia
Varanasi,
Mob. No.9839050314,
       9335799909
Ph. No. 0542-2436641
3
CA Dr. Rahul Kumar Singh
Secretary
S.R. Tower, C.9/232-B, Habibpura,Chetganj, Varanasi, Phone: (O) 0542-2404809
Mobile: 9415202493
              9415815927
S.R.Tower, C.9/232-B,
Habibpura, Chetganj, Varanasi, Mob.No. 9415202493, 9415815927 ph. No. 0542-2404809
4
CA Brajesh Kumar Jaiswal
CICASA Member
D–59/92,AJ-5,Siddharth
complex, Sigra, Mahmoor
ganj Road,Varanasi,
Phone:(O): 0542-
3296071,2364006
Mobile: 9415225768
N-987 D-32, Jankinagar
Colony, Patia Road, Kakarmatta, Varanasi
MobNo. 9415225768
Ph.N. 0542-3202128
5
CA Manoj Nigam
Executive Member
C/o Benaras Cycle Stores,
K-61/145-147, Bulanala VaranasiMobile: 9415202916 Phone: (O) 0542-6547775
E-mail:
House No.30, Lane No.2, Gurudham Colony, Varanasi, Mob.
No. 9415202916
Ph.No. 0542-2277775
6
CA S. K. Dwivedi
Executive Member
C-1, Vishwanath Kunj, DIG
Colony, M.A.Road, Varanasi
Phone:(O)0542-2502525
Mobile: 9415203012
Flat No.106, Surya Vishal Apartment, Kolhua, vinayaka, Varanasi Mob No. 9415203012 ph. No. 0542-2364963

Parliament to increase penalty on traffic rule violators across the country

The Union Cabinet on Thursday approved the proposed changes in the Motor Vehicle Act. This paves way for passing the legislation in Parliament to increase penalty on traffic rule violators across the country.

The new bill which will be introduced in the Rajya Sabha duing the Budget session has provision to slap Rs 500 fine for not wearing seat belt and helmet or for jumping a red light for the first time. The bill introduces fines for using mobile phone while driving.

The fines will multiply in case the same offender violates the traffic rules subsequently.

As per the new provision drunk driving would be dealt with high penality and even jail term. Drunk driving will be graded according to alcohol levels in the blood with a punishment that can go up to a two-year jail term and Rs 5,000 fine or both.

Repeat traffic offences will fetch stiff fines with jumping red lights or not using seat belts and helmets attracting fine between Rs 500 to Rs 1,500. The first offence of using cellphone will mean Rs 500 fine and subsequent infringements can set the offender back by Rs 5,000 in penalties. To discourage the use of cellphones, which have emerged as a key reason for road accidents all over the world, the new bill has proposed stiff fines.

Working on the proposition that higher fines work as a deterrent and can induce greater respect for the law, the Cabinet is expected to clear a slew of amendments in the Motor Vehicle Bill on Thursday. The increase in some categories are up to eight-10 folds over existing fines. The changes intend to make the vehicle owner responsible in case a minor is caught at the wheel.

The proposals to hike fines aim to target the major causes of accidents and fatalities on India's roads - drunk driving, speeding, non-wearing of seatbelts and helmet and use of cellphone. To penalize habitual offenders, the bill incorporates higher fines and longer jail terms for repeat offences.

The disrespect for speed limits could attract Rs 1,000 fine for the first offence. Subsequently, the penalty could be as high as Rs 5,000.

Notification for Amendment to Rule 52, 53 and 54 of MVAT Rules.


FINANCE DEPARTMENT
Mantralaya, Mumbai 400 032, dated IS th February 2012
 
NOTIFICATION
 
MAHARASHTRA VALUE ADDED TAX ACT, 2002-
 
No. VAT 1512/C.R-12/Taxation-1.—Whereas the Government of Maharashtra is satisfied that ircumstances exist which render it necessary to take immediate action further to amend the Maharashtra Value Added Tax Rules, 2005 and to dispense with the condition of previous publication thereof under the proviso to sub-section (4) of section 83 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005).
 
Now, therefore, in exorcise of the powers conferred by sub-sections (1) and (2) read with the proviso to sub-section (4) of section 83 of the said Act, and of all other powers enabling it in this behalf, the Government of Maharashtra hereby, makes the following rules further to amend the Maharashtra Value Added Tax Rules, 2005, namely :—
 
1.      These rules may be called the Maharashtra Value Added Tax (Amendment) Rules, 2012.
 
2.      In rule 52 of the Maharashtra Value Added Tax Rules, 2005 (hereinafter referred to as "the principal Rules), in sub-rule (1), for the words "the Commissioner shall" the words and figures "the Commissioner shall subject to the provisions of roles 53, 54 and 55" shall be substituted and shall be deemed to have been substituted with effect from the 1st April 2005.
 
3.      In rule 53 of the principal Rules, in sub-rule (3),—
(1)   the existing sub-rule (3) shall be re-numbered as clause (a) thereof; and after clause (a) as so re-numbered, after the proviso, the foil owing proviso shall be added, namely:
 
"Provided further that, the provisions of this clause shall not be applicable in respect of the contingencies specified in clause (b);”
 
(2)   after the clause (a) so re-numbered the following clause shall be added, namely:—
"(b) If the claimant dealer manufacturers the goods covered under entries 5, 6, 7, 8, 9 and 10 of Schedule "D" appended to the Act and dispatches the said goods not by reason of sale, outside the State to any place within India to his own place of business, or the place of business of his agent or where the claimant dealer is a commission agent, to the place of business of his principal, then an amount equal to two per cent, of the value of the goods so dispatched shall be reduced from the amount of the set-off otherwise available in respect of the aforesaid manufactured goods.
 
4.      In rule 54 of the principal Rules, in clause (ft), for the words, brackets and figures "purchases of motor spirits as notified under sub-section (4) of section 41 unless such motor spirits” the words and brackets "purchases of tile High Speed Diesel Oil, Aviation Turbine Fuel (Duty paid), Aviation Turbine Fuel (Bonded), Aviation Gasoline (Duty paid), Aviation Gasoline (Bonded) and Petrol unless such motor spirits" shall be substituted and shall be deemed to have been substituted with effect from the 1st April 2005.",
 
By order and in the name of the Governor of Maharashtra,
 
 
 
Q.C.BHANGADIYA,
Deputy Secretary to Government.

MVAT Notification for Submission of Annexures by dealers not required to file audit report.


COMMISSIONER OF SALES TAX, MAHARASHTRA STATE , MUMBAI
Vikrikar Bhavan, Mazgaon, Mumbai 400 010, dated the 4th February 2012
 
NOTIFICATION
 
Maharashtra Value Added Tax Act, 2002.
 
No.VAT/AMD-2011/1B/ADM-6.—In exercise of the powers conferred by sub-rule (1) of rule 17A of the Maharashtra Value Added Tax Rules, 2005 the Commissioner of Sales Tax, Maharashtra State, Mumbai hereby provides that, in respect of the period starting on or after 1st April 2011, the registered dealer who is not required to submit Audit Report in Form-704 as provided under section 61 of the Maharashtra Value Added Tax Act, 2002, shall, submit within ninety days from the end of the year to which such annexures relate, electronically, the information about the sales and purchases for the entire year in annexure J1 and annexure J2, respectively, and other details in annexure C, D, G, H and I notified for the said purpose, along with the last prescribed return of that year.
 
 
SANJAY BHATTA
Commissioner of Sales Tax,
Maharashtra State , Mumbai

BANGALORE BRANCH CA INSTITUTE EVENTS--14TH MARCH SEMINAR BY ME- 8

Event Registration

Below is a list of all events that are currently open for registration. Click on the event name to proceed.
Search:


Event
Date
Price
Capacity
Registered
Member Event >> Study Circle Meet
03-07-2012
06:00 PM - 08:00 PM
Free
250
5
Speaker : - CA. Vijaya Sarathy D.
Taxability on Import of services
 Location: Branch Premises
03-21-2012
06:00 PM - 08:00 PM
Free
200
0
Speaker : -CA. G. Praveen Kumar
Member Event >> Conference
03-24-2012
09:30 AM - 05:00 PM
Rs. 900.00
1100
5
Member Event >> Seminars
Ethical Problems & Case Studies
 Location: Branch Premises
03-14-2012
05:30 PM - 08:30 PM
Free
200
0
Speaker: - CA. Ramachandran M.
Analysis of Union Budget-2012
 Location: JnanaJyothi Auditorium
03-17-2012
03:30 PM - 08:30 PM
Free
1100
0
Moderators: CA. T. V. Mohandas Pai &
CA. H. Padamchand Khincha
Seminar on "Bank Branch Audit"
03-27-2012
09:30 AM - 05:00 PM
Rs. 900.00
1100
0
XBRL - MCA Taxonomy Reporting- Challenges Faced (Impact Seminar)
03-28-2012
05:30 PM - 08:00 PM
Free
200
0
Speaker: - CA. S. Hariharan
Member Event >> Tele Conference
Teleconference on “Bank Branch Audit”
 Location: Branch Premises
03-07-2012
11:00 AM - 01:00 PM
Free
100
0
Speaker : - CA.C.V. Sajan
Member Event >> Workshops
Workshop on Communication Skills
 Location: Branch Premises
03-08-2012 - 03-13-2012
05:00 PM - 08:00 PM
Rs. 1200.00
250
0
Workshop on New Schedule VI under Companies Act including its XBRL integration
 Location: Branch Premises
03-19-2012 - 03-20-2012
05:00 PM - 08:00 PM
Rs. 500.00
300
0
·         Events
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Consultant required.......food , agro , cold chain


We are looking for consultants, advisors who can guide us in following issues ......
A...... food processing industry
B...... agro based industry
C....... cold storage
D........ cold chain ...refer vans
We can also consider takeover of existing industry or takeover of sick industry.
Contact
CA RAJESH JAIN ...rajeshjainpune@yahoo.com

PLAN EXIT OR ENTRY TO REDUCE TAXATION

PLAN EXIT OR ENTRY TO REDUCE TAXATIONWith the stock market zooming as much as 14 per cent in the last two months, many investors would be looking to either book profits or enter. But, before that, they should take taxation into consideration. There are a number of levies on stock market transactions that could reduce your returns. First, there is the capital gains tax. Capital gains is the profit earned when you sell a share at a price higher than the purchase price. For example, if you bought the shares for Rs.100 and sold those for Rs.150, your capital gain was Rs.50. If you sell the shares within a year, this gain attracts a short-term capital gains tax of 15 per cent. However, if you sell after a year, you do not have to pay this tax. Hence, it is advisable to hold shares for at least a year before selling. So, if you subscribe to shares in an initial public offering and sell these on listing (usually within seven days of the issue closing) you will incur a 15 per cent short-term capital gains tax (in case you have made gains). Also, when taking part in buyback or delisting programs, consider how long you have held the shares before surrendering these. Another tax levied is the Securities Transaction Tax (STT). The STT was first introduced in July 2004 to stem the flow of speculative money in the Indian stock markets. It aimed at protecting the small investors. STT is currently charged at 0.025 per cent of the transaction value. For derivatives, it is 0.017 per cent. When you register shares in your name, you will be charged a stamp duty (just like when you buy a house). This is payable when you buy the shares or get these transferred to self. The duty is 0.5 per cent of the value of the shares. Since buying and selling shares is a service offered by brokerages, you have to pay a service tax. At present, it is 10.3 per cent. Any transaction in the share market attracts this tax. Education cess is the surcharge levied by the government on the service tax, to fund basic education in the country and provide meals to school-going children. This is two per cent of the service tax. Amitabh Singh, tax partner, Ernst and Young, says the only way to reduce taxation on stock market transactions is to look out for broking firms that charge lesser brokerage. "Since most taxes are calculated on the basis of the brokerage, look out for those firms that charge less. Most online broking portals charge less, as they see high volumes," adds Singh. Only the capital gains tax is levied on the gains you make. Other taxes are levied on the transaction. The amount of tax-of-tax will also depend on the brokerage being charged. Suresh Sadagopan, a certified financial planner with Ladder7 Financial, says the amount of tax will depend on the quantum of gains. "If one has made a very small amount of gain, he will get badly hit owing to the various taxes he would be obliged to pay. This is because most taxes are levied on the transaction and not the gains," he says. So, how do you show the gains you have made on your shares when filing returns? In case of futures and options trading, you would need to disclose the gain or loss under the head profits or gains from business or profession (read: Normal business income/loss). In cash transactions, if the share is held with the intention of earning dividend, this would be considered trade as usual and not speculative transaction. - www.business-standard.com

Reserve Bank of India launched 150 Rupee Coin



Reserve Bank of India launched 150 Rupee Coin

Description: Launching

India is celebrating the Rabindranath Tagore's 150th birth anniversary. On this celebration Reserve Bank of India launched the 150 Rupee coin in memory of Nobel Prize Winner - Gurudev - Sri Rabindranath Tagore. Newly launched 150 Rupee coin is about 40 mm in diameter and It's weighs is about 35 grams. The Rs. 150 coin, made of an alloy of Silver, Copper, Nickel and Zinc, will have an international design which contain Rabindranath Tagore image on one side and  image of Ashok Stambha on another side.
For the first time in the country’s minting history, Government will issue coins of Rs. 150, marking the number of years of taxation in India.
The special coins, to be released by Finance Minister Shri Pranab Mukherjee before his Budget speech.
This is the first time that coins of Rs. 150 denomination are being minted by the Indian Government. The Department of Economic Affairs under the Finance Ministry recently notified the order.

Both Side of Indian 150 Rupee Coin
 
Description: Indian 150 Rupee Coin Both Side Image
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