NTPC Result

Posted on April 26, 2012 by Naveen Khulve

Results of examination for ET-2012 HR/Finance held on 14th / 15th April’2012 will be declared on 7th May 2012.

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New Penal Provision in Union Budget 2012-13 regarding TDS/TCS Statement

Posted on April 26, 2012 by Naveen Khulve

Tax-Deducted-at-SourceFollowing are the new Penal Provision proposed in Union Budget 2012-13 regarding TDS/TCS Statement.
• Fee for late filing u/s 234E
• Penalty for late filing or nonfiling of TDS/TCS statement U/s 271H.

Fee for late filing u/s 234E is proposed to be effective from 1st of July 2012, with heading “Levy of Fee in certain case” and as per this section deductor shall be liable to pay by way of fee of Rs 200 per day till the failure to file TDS/TCS statement continues.

However the total fee cannot exceed the amount of TDS/TCS deductible for which statement was required to be filed.

Section 234E shall be read as follows:
(1) Without prejudice to the provisions of the Act, where a person fails to deliver or cause to be delivered a statement within the time prescribed in subsection (3) of section 200 or the proviso to sub-section (3) of section 206C, he shall be liable to pay, by way of fee, a sum of two hundred rupees for every day during which the failure continues.
(2) The amount of fee referred to in sub-section (1) shall not exceed the amount of tax deductible or collectible, as the case may be.”

Penalty for late filing or non- filing TDS/TCS statement
Section 271H provides that a deductor shall pay penalty of minimum Rs 10,000 to Rs 1 Lakh for not filing the TDS/TCS statement within one year (1 year) from the specified date within which he was supposed to file the statement. This amendment is also effective from 1st July 2012.
Section 271H shall be read as follows:
(1) Without prejudice to the provisions of the Act, a person shall be liable to pay penalty, if, he––
(a) fails to deliver or cause to be delivered a statement within the time prescribed in subsection (3) of section 200 or the proviso to sub-section (3) of section 206C;
or
(b) furnishes incorrect information in the statement which is required to be delivered or cause to be delivered under sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C.
(2) The penalty referred to in sub-section (1) shall be a sum which shall not be less than ten thousand rupees but which may extend to one lakh rupees.
(3) Notwithstanding anything contained in the foregoing provisions of this section, no penalty shall be levied for the failure referred to in clause (a) of sub-section (1), if the person proves that after paying tax deducted or collected along with the fee and interest, if any, to the credit of the Central Government, he had delivered or cause to be delivered the statement referred to in subsection (3) of section 200 or the proviso to sub-section (3) of section 206C before the expiry of a period of one year from the time prescribed for delivering or causing to be delivered such statement.
(4) The provisions of this section shall apply to a statement referred to in subsection(3) of section 200 or the proviso to sub-section (3) of section 206C which is to be delivered or caused to be delivered for tax deducted at source or tax collected at source, as the case may be, on or after the 1st day of July, 2012.”.

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Important website link related to Chartered Accountant jobs

Posted on April 26, 2012 by Naveen Khulve

Hello Friends

Here I am sharing important web site link related to Chartered Accountant jobs. Hope this shall be useful for you.

http://www.indiancajobs.com/

http://www.job4ca.info/

http://www.sarkari-naukri.in/jobs-by-post/chartered-accountants/

http://www.timesjobs.com/jobskill/chartered-accountant-Jobs

http://www.jobsinworld.com/Chartered-Accountant/jobs-in/India

http://www.careerbuilder.co.in/Category/Accounting/Chartered%20Accountant

http://india.recruit.net/search-chartered+accountant+_in_india-jobs

http://www.tiptopjob.com/search/jobs_by_role/j/chartered+accountant/m/9000233_accountancy

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Job for CA at Syndicate Bank

Posted on April 26, 2012 by Naveen Khulve

Syndicate BankHello Friends

Syndicate Bank  is going to recruit CA. For more information click CA job at Syndicate Bank. Please read the information clearly before applying for the same.

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Important Due Dates for the month of May’2012

Posted on April 26, 2012 by Naveen Khulve

Here is the Important Due Dates for the month of May’2012.

Due Date Particulars Form No
05th May 2012 Monthly – Payment of Service Tax for assessees other than individual, Proprietorship Firm and Partnership Firm (6th in case of electronic payment through internet banking) GAR-7
05th May 2012 Monthly – payment of Central Excise Duties for the previous month – For non SSI Units (6th in case of electronic payment through internet banking GAR-7
07th May 2012 Payment of TDS/TCS in respect of deduction of tax in the month of April’12 Challan No ITNS 281
10th May 2012 Last Date for filing of Return of Central Excise and Cenvat Credit for the Month of April’12 ER-1 and ER-2
15th May 2012 Filing Quarterly Statement of TDS/TCS for the Quarter Ending March 31. 24Q/26Q/27Q/27EQ
30th May 2012 Quarterly issuance of certificate of tax deducted at source (other than salary) and TCS for the quarter ending March 31. 16A/27D
31st May 2012 Certificate of tax deducted at source (TDS) to employees in respect of salary paid during the previous financial year Form 16 with 12BA

 

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How can we download FUV file from NSDL site for correction in TDS Return?

Posted on April 25, 2012 by Naveen Khulve

Hello friends….

TDS ReturnHere I am sharing about how we can download FUV file from NSDL for correction in TDS Return.  Following are the steps for downloading FUV file:

  • Click https://onlineservices.tin.nsdl.com/TIN/JSP/security/TanLogin.jsp
  • Select TDS/TCS and then View Consolidated file and fill the required details and clicks submit.
  • After submitting again few question will be asked required to be filled and then click submit.
  • After submitting the detail you can able to download the FVU File.
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Steps for Registration of a Company

Posted on April 24, 2012 by Naveen Khulve

Company Registration in IndiaHello Friends here I am sharing about procedure of registration of a new Company.

Step 1 Apply for Director Identification Number (DIN): Every individual who wants to become director of a company must have a DIN. For having a DIN he is required to make an application for allotment of DIN to central government in the prescribed DIN form i.e. eForm DIN-1.

Step 2 Apply for Digital Signature Certificate: As per companies’ act 1956 every document is required to be filed with the digital signature of Promoter/MD/Director/Manager/Secretary of the Company. Thus it is mandatory to obtain the DSC for atleast 1 Director of the company.

Step3 Apply for ascertaining the availability of the selected name of the Company: An application shall be sent to concerned ROC electronically through MCA site in form of e-Form 1A duly digitally signed by any one promoter or managing director or director or manager or secretary of the company along with the required fee of Rs. 500/- for ascertaining whether the selected name is available for adoption by the promoters of the proposed company.

Step 4 Approval of the name by ROC: After receipt of completed application in e-Form 1A, the Registrar shall intimate whether the proposed name is available for adoption or not. The confirmation of the availability of the name by Registrar shall be valid for a period of six months i.e., if the promoters fail to submit all the required documents for incorporation within that period, then they are required to submit another application after payment of requisite fees.

Step 5 Draft Memorandum of Association (MOA) and Articles of Association (AOA)

Step 6 Filing of documents with the Registrar: File the following documents with the registrar of the company along with the requisite fees as applicable for registration of the company with in a period of six months from the date of intimation of availability of name:-

  • MOA/AOA duly signed by the subscribers and witnessed by chartered Accountant/ Advocate/ Company Secretary. It should be properly stamped as per the stamp duty applicable in the State, where the registered office of the company is to be situated. Simultaneously original stamped copy of the Memorandum of Association shall be submitted with the Registrar of Companies concerned.
  • Agreement, if any, which the company proposes to, enter in to with any individual for appointment as its managing or whole-time director or manager shall be attached in the PDF file.
  • Declaration/undertaking in e-Form 1 by an advocate/ company secretary /chartered accountant engaged in whole time practice in India or by a person named in the Articles as a director, manager or secretary of the company, that all the requirements of the Companies Act, 1956 and the rules made thereunder have been complied.
  • Power of Attorney form on Non-Judicial stamp paper of appropriate value must be furnished by all the subscribers in favour of any one subscriber or any other person authorising him to file these documents with the Registrar and to obtain certificate of incorporation.
  • E-Form 18 along with requisite fees and certified by the company secretary or chartered accountant or cost accountant in whole –time practice is required to be filed with the Registrar electronically with the digital signatures in regard to location of the registered office of the company.
  • E-Form 32 along with requisite fees duly certified by the company secretary or chartered accountant or cost accountant in practice digitally before filing with the Registrar is required to be filed with the Registrar electronically for filing particulars of directors. Consent to act as director on plain paper and authorization to submit e-Form 32 from all the director should be attached with the e-Form 32.

Step 7 Obtain Certificate of Incorporation: On Satisfaction by the Registrar he shall issue a Certificate of Incorporation.

Step 8 Obtain Certificate of commencement of business: Only in case of Public Limited Company having share capital.

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STEPS FOR SUBMISSION OF ONLINE APPLICATION FORM FOR NET

Posted on April 23, 2012 by Naveen Khulve

i)The candidates are required to download the Bank Challan Performa from the UGC website and then deposit the requisite test fee in any branch of State Bank of India along with the bank charges (commission) of Rs.20/-.

ii)Before applying Online, the candidates must possess the following : (i) Scanned passport (pp) size photograph in JPEG format of less than 300 kb, (ii) Copy of Bank Challan (fee receipt).

iii)Candidate seeking admission to the Test must apply online (i.e. www.ugcnetonline.in OR through a link available on the UGC website: www.ugc.ac.in ).

iv)After successful submission, the candidate should take printout of online Application Form (two copies), Attendance Slip (one copy) and Admission Card (one copy) on separate A-4 size papers.

v)SC/ST/PH/VH candidates and candidates belonging to OBC (non-creamy layer) (as per the Central list of OBC available on website : www.ncbc.nic.in ) must enclose the attested copy of certificate for the same.

vi)Candidates seeking age relaxation must enclose the certificate of educational qualification/research experience entitling the candidates for age relaxation. (for details, please see item no. 4).

vii)The Application (consisting of two copies of printout of online application form, one copy of Attendance Slip and one copy of Admission Card) alongwith required documents (as mentioned in item No. 13) must reach the Registrar of the University (UGC Test Centre) on or before 07.05.2012.

viii)Application received after 07.05.2012 at the Test Centre will be rejected.

ix)Before applying Online, candidates are advised to go through detailed notification available on UGC website (i.e. www.ugcnetonline.in OR through a link available on the UGC website: www.ugc.ac.in ). Please note that Fee submitted through any other mode like Money Order, Demand Draft, IPO etc. will be summarily rejected.

x)The envelope containing the Application Form should be superscribed “UGC NATIONAL ELIGIBILITY TEST FOR JUNIOR RESEARCH FELLOWSHIP AND ELIGIBILITY FOR LECTURESHIP, JUNE, 2012”.

xi)The candidates must affix their recent identical passport size photographs, at the places indicated, on the printout of Online Application Form and must sign across the photograph after it is affixed so that a part of the signature spreads over the Application Form beyond the photograph. Besides, it should be duly attested by the Head of the University Department/Principal of the College/Class-I Gazetted Officer.

xii)In order to avoid last minute rush, the candidates are advised to apply early enough. UGC will not be responsible for network problems or any other problem of this nature in submission of online application during last days.

Source: http://www.ugcnetonline.in/how_to_apply.php

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Is CA eligible for appearing in NET exams?

Posted on April 23, 2012 by Naveen Khulve

NETHello Friends

Here I am sharing about applicability of CA for appearing in NET exams conducted by UGC.

As per the eligibility criterion for appearing in NET as given in [http://www.ugc.ac.in/inside/neteligibility.html:

Candidates belonging to the General/Other Backward Classes (OBC) who have secured at least 55% marks (without grace or rounding off in Master's Degree (or equivalent) examination in Humanities (including languages) and Social Sciences, Forensic Science, Environmental Science, Computer Science and Applications, Electronic Sciences etc. are eligible to appear for this examination.

Scheduled Caste (SC)/Scheduled Tribe (ST) category and Physically Handicapped (PH)/ Visually Handicapped (VH) candidates who have secured at least 50% marks (without grace or rounding off) in Master's degree (or equivalent) examination are eligible to appear in the NET examination.

  1. Those candidates who have even secured 54.99% marks or below (even 49.99% marks or below for SC/ST & PH/VH candidates) in Master's Degree or equivalent Examination are NOT eligible for this Test. THERE IS NO PROVISION OF ROUNDING OFF OF MARKS TO MAKE IT 55% (50% FOR SC/ST and PH/VH).
  2. Candidates who have appeared or will be appearing at the qualifying Master's Degree examination and whose result is still awaited or candidates whose qualifying examinations have been delayed may also apply for this Test. However, such candidates will be admitted provisionally and shall be considered eligible for award of JRF/Lectureship eligibility, only after they have passed the Master's Degree examination (or) equivalent with at least 55% marks (50% in case of SC/ST/PH/VH candidates) within one year from the date of UGC_NET examination under consideration. In case, these candidates fail to obtain their P.G. Degree/Mark-sheet within one year from the date of the relevant UGC_NET examination, they will be treated as disqualified.

Thus a candidate must be PG for appearing in NET exams.

Now question arises that whether CA shall be treated as PG for appearing in NET exams.

"The Association of Indian Universities has given recognition (AIU Letter No. EV/II(56-A)/83 dated 20.3.84) to those students who have passed their Final Examination of the Institute of Chartered Accountants of India, New Delhi and are graduates that they be treated to have completed a postgraduate degree in Commerce or allied disciplines for the purpose of registration. "[ Source : www.icai.org ]

Thus Graduation+CA shall be treated as Post Graduation in Commerce for the purpose of NET.

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Job for CA at SAIL

Posted on April 23, 2012 by Naveen Khulve

SAILHello Friends

SAIL is going to recruit CA as Management Trainees. For more information about job click Recruitment at SAIL for Management Trainee. Please read the information clearly before applying for the same.

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