tag:blogger.com,1999:blog-80617665489126542852024-03-19T14:41:08.656+05:30CA SAMACHARFINANCIAL NEWS AT ONE PLACEAkshay Jainhttp://www.blogger.com/profile/08412432633934704988noreply@blogger.comBlogger56125tag:blogger.com,1999:blog-8061766548912654285.post-9477472859547024902024-02-17T10:21:00.002+05:302024-02-17T10:27:41.022+05:30FAQ Released By RBI on PAYTM <p>PAYTM Payments Bank has been in news for quite some time now due to various reasons such as RBI Banning onboarding of new customers, RBI Banning PAYTM to operate its Payment Banking Business, ED summons etc. Recently RBI Governor has again shown no Interest in reconsidering their decision to stop PAYTM for operating its Payment Bank licence. Shares of Its Parent Company One 97 Communication is at all time low and various analyst are downgrading and cutting targets of PAYTM. Investors of PAYTM is suffering from anxiety as shares of the Company is down by more than 80%.</p><p><br /></p><p>There is various rumours in the market regarding withdrawal of deposits, closing of the whole company, Money Laundering etc. PAYTM has also issued various clarification in its exchange filings to clear all these rumours but still more clarity was required by the Account holders of Paytm Payment Bank. </p><p><br /></p><p>The consumers of PAYTM has been facing various questions related to our deposits with PAYTM Bank and what will be effect of PAYTM accounts after 29th February 2024. To answer all our queries, yesterday on 16 Feb 2024 RBI has released a list of FAQs on <b style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; text-align: -webkit-center;">Business restrictions imposed on Paytm Payments Bank Limited vide Press Releases dated January 31 and February 16, 2024. </b></p><p><b style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; text-align: -webkit-center;"><br /></b></p><p><b style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; text-align: -webkit-center;">Below is the link through which readers can directly read full text of FAQs from RBI website. </b></p><p><span style="font-size: 13px; text-align: -webkit-center;"><span style="font-family: Arial, Helvetica, sans-serif;"><b><a href="https://www.rbi.org.in/Scripts/FAQView.aspx?Id=164">https://www.rbi.org.in/Scripts/FAQView.aspx?Id=164</a></b></span></span></p><p><span style="font-size: 13px; text-align: -webkit-center;"><span style="font-family: Arial, Helvetica, sans-serif;"><br /></span></span></p><p><span style="font-size: 13px; text-align: -webkit-center;"><span style="font-family: Arial, Helvetica, sans-serif;">We have also attached all FAQs below:</span></span></p><p><span style="font-size: 13px; text-align: -webkit-center;"><span style="font-family: Arial, Helvetica, sans-serif;"><br /></span></span></p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;"><u>Bank Accounts with Paytm Payments Bank</u></p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">1. I have a savings or current account with Paytm Payments Bank. Can I continue to withdraw money from this account after March 15, 2024? Can I continue to use my debit card issued by Paytm Payments Bank?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">Yes. You can continue to use, withdraw or transfer your funds from your account upto the available balance in your account.</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">Similarly, you can continue to use your debit card to withdraw or transfer funds upto the available balance in your account.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">2. I have a savings bank or current account with Paytm Payments Bank. Can I deposit or transfer money into this account after March 15, 2024?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">No. After March 15, 2024, you will not be able to deposit money into your account with Paytm Payments Bank. No credits or deposits other than interest, cashbacks, sweep-in from partner banks or refunds are allowed to be credited.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">3. I am expecting a refund in my account with Paytm Payments Bank after March 15, 2024. Can this refund be credited into my account?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">Yes. Refunds, cashbacks, sweep-in from partner banks or interest are permitted credits into your account even after March 15, 2024.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">4. What will happen to the Deposits maintained with partner banks through ‘sweep in/out’ arrangements, after March 15, 2024?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">The existing Deposits of Paytm Payments Bank customers maintained with partner banks can be brought back (sweep-in) to the accounts with Paytm Payments Bank, subject to the ceiling on balance prescribed for a Payments Bank (i.e. ₹2 lakh per individual customer at the end of day). Such sweep-ins for the purpose of making available the balances for use or withdrawal by the customer will continue to be allowed. However, no fresh deposits with partner banks through Paytm Payments Bank will be allowed after March 15, 2024.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">5. My salary is credited into my account with Paytm Payments Bank. Can I continue to receive my salary into this account?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">No. After March 15, 2024, you will not be able to receive any such credits into your account with Paytm Payments Bank. It is suggested that you make alternative arrangements with another bank before March 15, 2024 to avoid inconvenience.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">6. I receive a subsidy or certain direct benefit transfers linked to my Aadhar from the Government in my account with Paytm Payments Bank. Can I continue to receive it into this account?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">No. After March 15, 2024, you will not be able to receive any such credit into your account with Paytm Payments Bank. Please arrange to change your linked account to another bank before March 15, 2024 to avoid any inconvenience or disruption.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">7. My monthly electricity bill is paid automatically from my bank account with Paytm Bank Limited? Can this continue?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">Withdrawal/debit mandates (such as National Automated Clearing House (NACH) mandates) will continue to get executed till there is balance available in your account. However, after March 15, 2024, credit or deposit in your accounts will not be allowed. Therefore, to avoid inconvenience, it is suggested that you make alternative arrangements through another bank, before March 15, 2024.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">8. My monthly OTT subscription is paid automatically through UPI from my bank account with Paytm Payments Bank? Can this continue?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">Withdrawal/debit mandates through automatic UPI mandates will continue to get executed till there is balance available in your account. However, after March 15, 2024, credit or deposit in your accounts will not be allowed. Therefore, to avoid inconvenience or disruption, it is suggested that you make alternative arrangements through another bank, before March 15, 2024.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">9. The instalment (EMI) for my loan is automatically paid through my account with Paytm Payments Bank. Can this continue?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">Auto debit mandates will continue to get executed till there is balance available in your account. However, after March 15, 2024, credit or deposit in your accounts will not be allowed. Therefore, to avoid inconvenience, it is suggested that you make alternative arrangements for setting up EMI payments through another bank before March 15, 2024.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">10. The instalment (EMI) for my loan is automatically paid through my account with a bank other than Paytm Payments Bank. Can this continue?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">Yes, EMIs registered with any bank other than Paytm Payments Bank can continue.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;"><u>Paytm Payments Bank Wallet</u></p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">11. I have a wallet with Paytm Payments Bank. Can I continue to use money from this wallet after March 15, 2024?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">Yes. You can continue to use, withdraw or transfer to another wallet or bank account upto the balance available in the wallet. Minimum KYC wallets<span data-toggle="tooltip" style="font-size: 9.75px; line-height: 0; position: relative; top: -0.5em; vertical-align: baseline;" title="As per extant directions, small pre-paid Instruments (PPI) are issued by banks and non-banks after obtaining minimum details of the PPI holder. They can be used only for purchase of goods and services. Funds transfer or cash withdrawal from such PPIs are not permitted."><a class="links" href="https://www.rbi.org.in/Scripts/FAQView.aspx?Id=164#FN1" style="background-attachment: scroll; background-clip: initial; background-image: none; background-origin: initial; background-position: 0px 0px; background-repeat: repeat; background-size: initial; line-height: 20px; text-decoration-line: none;">1</a></span> can, however, be used only for merchant payments.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">12. I have a wallet with Paytm Payments Bank. Can I top-up or transfer money into this wallet after March 15, 2024? Can I receive money from any other person into this wallet after March 15, 2024?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">No. After March 15, 2024 you will not be able to top-up or transfer money into the wallet or receive any credits, other than cashbacks, or refunds into this wallet.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">13. I have a cashback due in my wallet with Paytm Payments Bank. Can I receive this cashback after March 15, 2024?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">Yes. Refunds and cashbacks are allowed to be credited.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">14. I have a wallet with Paytm Payments Bank. Can I close this wallet and have the balance transferred to my bank account with another bank?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">Yes. You may approach Paytm Payments Bank or use its banking app to close your wallet and transfer the balance to an account maintained with another bank in the case of full KYC wallets. In the case of minimum KYC Wallets<span data-toggle="tooltip" style="font-size: 9.75px; line-height: 0; position: relative; top: -0.5em; vertical-align: baseline;" title="As per extant directions, small pre-paid Instruments (PPI) are issued by banks and non-banks after obtaining minimum details of the PPI holder. They can be used only for purchase of goods and services. Funds transfer or cash withdrawal from such PPIs are not permitted."><a class="links" href="https://www.rbi.org.in/Scripts/FAQView.aspx?Id=164#FN2" style="background-attachment: scroll; background-clip: initial; background-image: none; background-origin: initial; background-position: 0px 0px; background-repeat: repeat; background-size: initial; line-height: 20px; text-decoration-line: none;">2</a></span>, you may use the available balance or request for a refund.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;"><u>FASTag issued by Paytm Payments Bank</u></p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">(for more details on FASTag, you may visit website of IHMCL <a class="links" href="https://ihmcl.co.in/" style="background-attachment: scroll; background-clip: initial; background-image: none; background-origin: initial; background-position: 0px 0px; background-repeat: repeat; background-size: initial; line-height: 20px; text-decoration-line: none;" target="_blank">https://ihmcl.co.in</a>)</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">15. I have a FASTag issued by Paytm Payments Bank. Can I continue to use it to pay toll after March 15, 2024?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">Yes. You can continue to use your FASTag to pay toll upto the available balance. However, no further funding or top ups will be allowed in the FASTags issued by Paytm Payments Bank after March 15, 2024. It is suggested that you procure a new FASTag issued by another bank before March 15, 2024 to avoid any inconvenience.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">16. I have a FASTag issued by Paytm Payments Bank. Can I recharge the balance after March 15, 2024?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">No. After March 15, 2024 you will not be able to top-up or recharge your FASTag issued by Paytm Payments Bank. It is suggested that you procure a new FASTag issued by another bank before March 15, 2024 to avoid any inconvenience.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">17. Can I transfer the balance from my old FASTag issued by Paytm Payments Bank to a new FASTag obtained from another Bank?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">Credit balance transfer feature is not available in the FASTag product. Therefore, you will have to close your old FASTag issued by Paytm Payments Bank and request the bank for a refund.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;"><u>National Common Mobility Card (NCMC) issued by Paytm Payments Bank</u></p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">18. I have an NCMC card issued by Paytm Payments Bank. Can I continue to use it after March 15, 2024?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">Yes. You can continue to use your NCMC card upto the available balance. However, you will not be able to load or top up funds into the card after March 15, 2024. In order to avoid inconvenience, it is suggested that you obtain an NCMC card issued by another bank or non-bank pre-paid instrument (PPI) issuer, before March 15, 2024.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">19. I have an NCMC card issued by Paytm Payments Bank. Can I add to its balance through top-up, recharge, etc. after March 15, 2024?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">No. After March 15, 2024 you will not be able to top-up or recharge your NCMC card issued by Paytm Payments Bank. In order to avoid inconvenience, it is suggested that you obtain an NCMC card issued by another bank or non-bank pre-paid instrument (PPI) issuer, before March 15, 2024.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">20. Can I transfer the balance from my old NCMC card issued by Paytm Payments Bank to a new card obtained from another Bank?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">Balance transfer feature is not available in the NCMC card. Therefore, you may use the card upto the available balance. In case you have some more balance which you have not been able to use, you may request Paytm Payments Bank for a refund.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;"><u>Merchants using Paytm Payments Bank to receive payments</u></p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">21. I am a merchant and I accept payments using a Paytm QR code, Paytm soundbox or Paytm POS terminal, linked to another bank account (not with Paytm Payments Bank). Can I continue to use this set-up even after March 15, 2024?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">Yes. If your receipt and transfer of funds is linked to any bank account other than Paytm Payments Bank, you can continue to use this arrangement even after March 15, 2024.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">22. I am a merchant and I accept payments using a Paytm QR code, Paytm soundbox, Paytm POS terminal linked to my bank account or wallet with Paytm Payments Bank. Can I continue to use this set-up even after March 15, 2024?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">No. After March 15, 2024 you will not be able to receive any credit into your bank account or wallet with Paytm Payments Bank other than refunds, cashbacks, sweep-in from partner banks or interest. In order to avoid any inconvenience or disruption, it is suggested that you may obtain a fresh QR code linked to an account with another bank or wallet to receive payments. You may also change your bank account details (in which you receive payments) through your service provider.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;"><u>Bharat Bill Payment System (BBPS)</u></p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">23. Can I make payments through the Bharat Bill Payment System (BBPS) using my account with Paytm Payments Bank?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">Yes. You can continue to make payments from your Paytm Payments Bank account through Bharat Bill Payment System upto the balance available in your account. Since you will not be able to credit any further funds into your accounts or wallets with Paytm Payments Bank after March 15, 2024, it is advised that you may make alternative arrangements with another bank account for BBPS before March 15, 2024.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;"><u>Aadhar enabled Payment System (AePS)</u></p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">24. Can I make withdrawals from my Paytm Payments Bank account with biometric authentication under Aadhar enabled Payment System?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">Yes. You can continue to withdraw using the AePS authentication, upto the balance available in your account.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;"><u>Money Transfer through UPI/ IMPS</u></p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">25. Can I transfer my money into my Paytm Payments Bank account through UPI/ IMPS after March 15, 2024?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">No. You cannot transfer the money into your Paytm Payments Bank account after March 15, 2024.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">26. Can I withdraw my money from my Paytm Payments Bank account through UPI/ IMPS after March 15, 2024?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">Yes. You can withdraw your money from Paytm Payments Bank account through UPI/ IMPS upto the balance available in your account.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;"><u>Paytm Payments Bank Business Correspondent</u></p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">27. I have an account with Paytm Payments Bank. Can the Paytm Payments Bank Business Correspondent (also referred to as Paytm Payments Bank Agent) help me in withdrawing funds from my account after March 15, 2024.</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">Yes. The Paytm Payments Bank Business Correspondent (Bank Agent) can help you to withdraw money from your bank account upto the balance available in your account.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;"><u>Accounts frozen, lien marked etc.</u></p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">28. What will happen to my Paytm Payments Bank account/wallet if there is a lien or freeze marked on the directions of Law Enforcement or judicial authorities?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">Any lien or freeze (full or partial) marked as per the instructions of any law enforcement or judicial authorities on the account/wallet of a customer with Paytm Payments Bank will continue to be governed by the orders passed by such authorities.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">29. What will happen to my Paytm Payments Bank account/ wallet if there is a lien or freeze marked on account of internal policies of Paytm Payments Bank?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">The bank has been directed to allow withdrawal or transfer to another bank account of the customer, upto the available balance in the account / wallets.</p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;"><u>Onboarding of new customers</u></p><p class="head" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; font-weight: bold; margin: 5px 5px 8px !important; text-align: justify;">30. What is the status of the Business restriction placed on Paytm Payments Bank vide RBI Press Release dated March 11, 2022?</p><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;">The business restriction dated March 11, 2022, prohibiting Paytm Payments Bank from onboarding any new customers for any of its services continues to be in force. Hence, Paytm Payments Bank cannot onboard any new customers after March 11, 2022.</p><p align="right" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important;">(updated as at February 16, 2024)</p><hr style="background: grey; border-bottom: 0px; border-image: initial; border-left: 0px; border-right: 0px; border-top-color: rgb(204, 204, 204); border-top-style: solid; font-family: Arial, Helvetica, sans-serif; font-size: 13px; height: 1px; margin: 1em 0px; padding: 0px; text-align: justify;" /><p style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; margin: 5px 5px 8px !important; text-align: justify;"><span class="footnote" style="font-size: 12px;"><a id="FN1" style="background-attachment: scroll; background-clip: initial; background-image: none; background-origin: initial; background-position: 0px 0px; background-repeat: repeat; background-size: initial; line-height: 20px;"></a><span style="font-size: 9px; line-height: 0; position: relative; top: -0.5em; vertical-align: baseline;">1</span> As per extant directions, small pre-paid Instruments (PPI) are issued by banks and non-banks after obtaining minimum details of the PPI holder. They can be used only for purchase of goods and services. Funds transfer or cash withdrawal from such PPIs are not permitted.</span></p><p class="footnote" style="font-family: Arial, Helvetica, sans-serif; font-size: 12px; margin: 5px 5px 8px !important; text-align: justify;"><a id="FN2" style="background-attachment: scroll; background-clip: initial; background-image: none; background-origin: initial; background-position: 0px 0px; background-repeat: repeat; background-size: initial; line-height: 20px;"></a><span style="font-size: 9px; line-height: 0; position: relative; top: -0.5em; vertical-align: baseline;">2</span> As per extant directions, small pre-paid Instruments (PPI) are issued by banks and non-banks after obtaining minimum details of the PPI holder. They can be used only for purchase of goods and services. Funds transfer or cash withdrawal from such PPIs are not permitted.</p>Akshay Jainhttp://www.blogger.com/profile/08412432633934704988noreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-52873734269212436302023-05-06T13:45:00.001+05:302023-05-06T13:45:02.685+05:30Guidelines for Special All-India Drive against fake registrations<p><span style="font-size: medium;">In past few years Goods and Service Tax Department has identified and curbed various cases of Fake Firms, Bogus Invoicing, Firms in name of <span style="font-family: serif; left: 124.8px; top: 826.623px; transform: scaleX(1.0131);">persons from economically weaker </span><span style="font-family: serif; left: 124.8px; top: 846.463px; transform: scaleX(1.0079);">sections</span> etc usually made to evade taxes and causing revenue loss to the Government. </span></p><p><span style="font-size: medium;"> </span></p><p><span style="font-size: medium;">GST Officials has been taking help from various data analytics sources such as <span style="font-family: serif; left: 124.8px; top: 561.983px; transform: scaleX(0.997277);">like BIFA, ADVAIT, NIC Prime, E-Way analytics, </span><span style="font-family: serif; left: 124.8px; top: 581.983px; transform: scaleX(1.05249);">etc, as well as through human intelligence, Aadhar database, other local learning and the </span><span style="font-family: serif; left: 124.8px; top: 601.823px; transform: scaleX(1.02158);">experience gained through the past detection and modus operandi alerts to detect these organizations and cases. But even after many detected cases there are still various organizations which are involved in such activities which is causing loss to Government in form of GST wrong input passing.</span></span></p><p><span style="font-size: medium;"><span style="font-family: serif; left: 124.8px; top: 601.823px; transform: scaleX(1.02158);"><br /></span></span></p><p><span style="font-size: medium;"><span style="font-family: serif; left: 124.8px; top: 601.823px; transform: scaleX(1.02158);">The </span><span style="font-family: serif; left: 124.8px; top: 601.823px; transform: scaleX(1.02158);"></span><span style="font-family: serif; left: 272.64px; top: 194.623px; transform: scaleX(1.08004);">Central Board Indirect Taxes & Customs, </span><span style="font-family: serif; left: 351.68px; top: 211.903px; transform: scaleX(1.04463);">GST Policy Wing through its </span><span style="font-family: serif; left: 351.68px; top: 211.903px; transform: scaleX(1.04463);"></span><span style="font-family: serif; left: 504.64px; top: 90.7831px; transform: scaleX(1.04608);">Instruction No. 01/2023-GST have proposed special drive for identifying these fake registrations from </span><span style="font-family: serif; left: 504.64px; top: 90.7831px; transform: scaleX(1.04608);"></span><span style="font-family: serif; left: 124.8px; top: 349.343px; transform: scaleX(0.999442);">16</span>th <span style="font-family: serif; left: 433.76px; top: 349.343px; transform: scaleX(0.99219);">May 2023 to 15th July 2023 </span><span style="font-family: serif; left: 433.76px; top: 349.343px; transform: scaleX(0.99219);"></span><span style="font-family: serif; left: 433.76px; top: 349.343px; transform: scaleX(0.99219);">to detect </span><span style="font-family: serif; left: 124.8px; top: 369.183px; transform: scaleX(1.01554);">suspicious / fake GSTINs and to conduct requisite verification and further remedial action to </span><span style="font-family: serif; left: 124.8px; top: 389.183px; transform: scaleX(1.00038);">weed out these fake billers from the GST eco-system and to safeguard Government revenue.</span></span></p><p><span style="font-size: medium;"><span style="font-family: serif; left: 124.8px; top: 389.183px; transform: scaleX(1.00038);"> </span></span></p><p><span style="font-size: medium;"><span style="font-family: serif; left: 124.8px; top: 389.183px; transform: scaleX(1.00038);">The government proposes following action through this drive:</span></span></p><p><span style="font-size: medium;"><span style="font-family: serif; left: 124.8px; top: 389.183px; transform: scaleX(1.00038);">1. Suspension/Cancellation of Registration of Such Fake firms registered with GSTN.</span></span></p><p><span style="font-size: medium;"><span style="font-family: serif; left: 124.8px; top: 389.183px; transform: scaleX(1.00038);">2. Blocking of credit of such fake firms.</span></span></p><p><span style="font-size: medium;"><span style="font-family: serif; left: 124.8px; top: 389.183px; transform: scaleX(1.00038);">3. Demand and recovery of Input tax credit from recipient of such fake firms through details extracted from GSTR-1</span></span></p><p><span style="font-size: medium;"><span style="font-family: serif; left: 124.8px; top: 389.183px; transform: scaleX(1.00038);">4. Provisional attachment of property/Bank Account of Mastermind of Such Fake firms.</span></span></p><p><span style="font-size: medium;"><span style="font-family: serif; left: 124.8px; top: 389.183px; transform: scaleX(1.00038);"><br /></span></span></p><p><span style="font-size: medium;"><span style="font-family: serif; left: 124.8px; top: 389.183px; transform: scaleX(1.00038);">Link to detailed instruction regarding the Special drive is given below:</span></span></p><p><span style="font-size: medium;"><span style="font-family: serif; left: 124.8px; top: 389.183px; transform: scaleX(1.00038);"><br /></span></span></p><p><span style="font-size: medium;"><span style="font-family: serif; left: 124.8px; top: 389.183px; transform: scaleX(1.00038);"><a href="https://taxinformation.cbic.gov.in/view-pdf/1000474/ENG/Instructions">Guidlines for Special All-India Drive against Fake registrations</a></span></span></p><p><span style="font-size: medium;"><span style="font-family: serif; left: 124.8px; top: 389.183px; transform: scaleX(1.00038);"> </span></span></p><p><br /></p>Akshay Jainhttp://www.blogger.com/profile/05081848744430384763noreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-50664177708198227972023-04-25T17:09:00.005+05:302023-04-25T19:04:52.764+05:30GST ISSUE ADVISORY ON BANK ACCOUNT VALIDATION<p>Many of us and our clients are receiving Bank validation mails and messages from Goods and Service Tax Department in past few days. These mail usually contains errors in Bank Account Validation which includes Account closure, Account PAN not linked, Wrong name in Bank Account etc.</p><p><br /></p><p>On 24.04.2023 GSTN has issued advisory for the Taxpayers which says:</p><p><br /></p><p><span face="verdana, "Helvetica Neue", Helvetica, Arial, sans-serif" style="background-color: white; color: #212121; font-size: 14px;"><i><b>" GSTN is pleased to inform you that the functionality for bank account validation is now integrated with the GST System. This feature is introduced to ensure that the bank accounts provided by the Tax Payer is correct. The bank account validation status can be seen under the Dashboard→My Profile→Bank Account Status tab in the FO portal. Tax Payers will also receive the bank account status detail on registered email and mobile number immediately after the validation is performed for his declared bank account"</b></i></span></p><p><span face="verdana, "Helvetica Neue", Helvetica, Arial, sans-serif" style="background-color: white; color: #212121; font-size: 14px;"><i><b><br /></b></i></span></p><p><span face="verdana, "Helvetica Neue", Helvetica, Arial, sans-serif" style="background-color: white; color: #212121; font-size: 14px;"><b>Link to full text is given below:</b></span></p><p><span style="background-color: white; font-size: 14px;"><span face="verdana, Helvetica Neue, Helvetica, Arial, sans-serif" style="color: #212121;"><a href="https://www.gst.gov.in/newsandupdates/read/579">https://www.gst.gov.in/newsandupdates/read/579</a></span></span></p><p><span style="background-color: white; font-size: 14px;"><br /></span></p><p><span style="background-color: white; font-size: 14px;"><br /></span></p><p><span style="background-color: white; font-size: 14px;">As we are aware that linking of Bank Account is mandatory at GSTN and non linking can result in Suspension as well Cancellation of GST Registration. Readers are advised to kindly check the Bank Account linkage at their respective GSTN Login.</span></p>Akshay Jainhttp://www.blogger.com/profile/08412432633934704988noreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-89230201062783676582023-04-25T15:20:00.006+05:302023-04-25T17:15:40.439+05:30ITR 1 to ITR 4 for AY 2023-2024<p> Income tax has today on 25.04.2023 has started e-filing of ITR 1 to ITR 4 for AY 2023-2024. The much awaited release of schema was made on 11.04.2023 but e-filing of same was not started till today.</p><p>The taxpayers can login into Income Tax E-filing website and can upload their returns JSON file generated either through software provided by third parties or from Excel utility released by Income Tax.</p><p>Other Income Tax forms from ITR5 to ITR7 will be released shortly.</p><p><br /></p><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjPmAJ8QD0S6o0LO7rdhMJAnnuBq5YjBrj0J1HLerhQrT0aVUUoxUbXk92pDLCq0q2x9_UIdlIX8fQcz1u7bxz6SgqJYbYynWJhq14RX90AqakgkVihathL4zua8HSZ_DQgNe7f2DxH3UZ84xVCvDeppZFa8hyJ-bai2F3lUwcROTxDr5ULYEj8ZpnB" style="margin-left: 1em; margin-right: 1em;"><img alt="Income Tax AY 2023-2024" data-original-height="442" data-original-width="584" height="485" src="https://blogger.googleusercontent.com/img/a/AVvXsEjPmAJ8QD0S6o0LO7rdhMJAnnuBq5YjBrj0J1HLerhQrT0aVUUoxUbXk92pDLCq0q2x9_UIdlIX8fQcz1u7bxz6SgqJYbYynWJhq14RX90AqakgkVihathL4zua8HSZ_DQgNe7f2DxH3UZ84xVCvDeppZFa8hyJ-bai2F3lUwcROTxDr5ULYEj8ZpnB=w640-h485" title="Income Tax filing has started for AY 2023-2024" width="640" /></a></div><br /><br /><p></p><p><br /></p><p>Last date for filing of return for Non-Audit taxpayers is 31st July, 2023. In case of delay in filing returns Late fees of Rs. 1000 to Rs. 10000 is leviable.</p><p><br /></p><p>Link to relevant news of Income Tax Department is given below:</p><p><a href="https://www.incometax.gov.in/iec/foportal//latest-news#206a6550-3d84-4d79-ba9a-ff5d34181d94">https://www.incometax.gov.in/iec/foportal//latest-news#206a6550-3d84-4d79-ba9a-ff5d34181d94</a></p><p><br /></p>Akshay Jainhttp://www.blogger.com/profile/08412432633934704988noreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-82638439986592704772023-03-18T12:16:00.022+05:302023-03-18T15:59:41.537+05:30STEP BY STEP PROCESS TO RESOLVE MCA DSC NOT REGISTERED ERRORSince the launch of MCA V3 portal, we professionals have been facing lot of issues in uploading forms and getting approval from ROC/CRC. The problem varies from User ID creation, dsc registration, Form Uploading errors, Payment errors, Certificate of Registration not available even after Company registration etc. <div><br /></div><div>One such errors which recently we were facing and many users are still facing is "DSC is not registered with XXXXXX on MCA portal". This error was usually coming at the time of uploading SPICE forms and even after re-registering dsc and adding roles in Business user login, the error was still there.
The </div><div><br /></div><div>MCA helpdesk has still not come with any solution to this problem but one of the hacks to resolve the issue temporarily is shared below: </div><div><br /></div><div><br /></div><div> STEP 1- OPEN YOUR BROWSER IN INCOGNITO/PRIVATE/SAFE MODE (Also preferably dont open MCA website in normal mode on the same browser till the activity is completed) </div><div>STEP 2- LOGIN to your MCA Business Account </div><div>STEP 3- OPEN THE Dashboard of the relevant SPICE Form </div><div>STEP 4- EDIT the relevant form </div><div>STEP 5- SAVE and SUBMIT the form once again </div><div>STEP 6- Download the FORM and attach the DSC of Directors and professional </div><div>STEP 7- Than UPLOAD the form. </div><div><br /></div><div>Remember that all the activities are to be done in INCOGNITO/PRIVATE/SAFE MODE. </div><div><br /></div><div><br /></div><div> This will solve the issue till MCA software vendor comes with some permanent solution. This has helped us and will surely help to most of the professionals.
#DSCISNOTREGISTERED </div><div><br /></div><div><br /></div><div>#SPICEFORMUPLOADERROR #MCAHELPDESK #MCA21 #V3PORTAL #MCADSCERRORS</div>Akshay Jainhttp://www.blogger.com/profile/08412432633934704988noreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-10964184545537616182020-05-14T16:36:00.000+05:302020-05-14T16:36:19.504+05:30INCOME TAX RELIEF UNDER ECONOMIC PACKAGE PART -1 (COVID 19 ECONOMIC PACKAGE)<div dir="ltr" style="text-align: left;" trbidi="on">
<br /></div>
Akshay Jainhttp://www.blogger.com/profile/05081848744430384763noreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-63976030022100375942020-05-14T16:08:00.000+05:302020-05-14T16:42:35.608+05:30DETAILS OF ECONOMIC PACKAGE 2020 PART-1<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
<span style="font-size: small;">Finance Minister <b>Nirmala Sitharama</b> on 13.05.2020 shared the first part of the most awaited Economic Package for boosting the corona troubled economy of India which had provisions for MSME sector of the country</span></div>
<div style="text-align: justify;">
<span style="font-size: small;"><br /></span></div>
<div style="text-align: justify;">
<span style="font-size: small;"><br /></span></div>
<div style="text-align: justify;">
<span style="font-size: small;">This has come after Honorable PM Narender Modi, a day earlier has announced that a economic package of approximately 20,00,000.00 crores will be announced by Finance Minister in coming 3-4 days.</span></div>
<div style="text-align: justify;">
<span style="font-size: small;"><br /></span></div>
<div style="text-align: justify;">
<span style="font-size: small;">The Finance Minister along with MoS Anurag Thakur said that the "ATMANIRBHAR BHARAT" will be based on 5 pillar- Economy, Infrastructure, System, Vibrant Demography and Demand. The focus will be on Land, Labour, Liquidy and Law.</span></div>
<div style="text-align: justify;">
<span style="font-size: small;"><br /></span></div>
<div style="text-align: justify;">
<span style="font-size: small;">The first part of the package is mainly focused on MSME sector and has been divided into Six major steps:</span></div>
<div style="text-align: justify;">
<span style="font-size: small;"><br /></span></div>
<div style="text-align: justify;">
<span style="font-size: small;">1. Rs. 3 Lakh collateral free loans to MSMEs. In which emergency credit line to MSMEs from Banks and NBFC's upto 20% of entire outstanding credit. This steps will help 45 lakh units to resume their Business activity.</span></div>
<div style="text-align: justify;">
<span style="font-size: small;"><br /></span></div>
<div style="text-align: justify;">
<span style="font-size: small;">2. Rs. 20000 crores subordinate Debt for Stressed MSMEs. This will help 2 lakhs MSME's</span></div>
<div style="text-align: justify;">
<span style="font-size: small;"><br /></span></div>
<div style="text-align: justify;">
<span style="font-size: small;">3. Rs. 50000 crores equity infusion for MSME's through Fund of Funds. A corpus of Rs. 10000 crore for Viable MSME through Funds of Fund.</span></div>
<div style="text-align: justify;">
<span style="font-size: small;"><br /></span></div>
<div style="text-align: justify;">
<span style="font-size: small;">4. Defintion of MSME's has been changed to increase the base of MSME's in the country.</span></div>
<div style="text-align: justify;">
<span style="font-size: small;"><br /></span></div>
<div style="text-align: justify;">
<span style="font-size: small;"><b>New Definition of MSME's</b></span></div>
<div style="text-align: justify;">
<span style="font-size: small;"><br /></span></div>
<span style="font-size: small;">
</span><span style="font-size: small;">
</span><span style="font-size: small;">
</span><span style="font-size: small;">
</span><span style="font-size: small;">
</span><span style="font-size: small;">
</span><br />
<table border="0" cellpadding="0" cellspacing="0" style="width: 665px;"><colgroup><col style="mso-width-alt: 4242; mso-width-source: userset; width: 87pt;" width="116"></col></colgroup><colgroup><col style="mso-width-alt: 2157; mso-width-source: userset; width: 44pt;" width="59"></col></colgroup><colgroup><col style="mso-width-alt: 4425; mso-width-source: userset; width: 91pt;" width="121"></col></colgroup><colgroup><col style="mso-width-alt: 2048; mso-width-source: userset; width: 42pt;" width="56"></col></colgroup><colgroup><col style="mso-width-alt: 4571; mso-width-source: userset; width: 94pt;" width="125"></col></colgroup><colgroup><col style="mso-width-alt: 2194; mso-width-source: userset; width: 45pt;" width="60"></col></colgroup><colgroup><col style="mso-width-alt: 4681; mso-width-source: userset; width: 96pt;" width="128"></col>
</colgroup><tbody>
<tr height="20" style="height: 15.0pt;">
<td class="xl65" height="20" style="height: 15.0pt; width: 87pt;" width="116"><span style="font-size: small;"><b>Classification</b></span></td>
<td class="xl65" style="border-left: none; width: 44pt;" width="59"><span style="font-size: small;"><br /></span></td>
<td class="xl65" style="border-left: none; width: 91pt;" width="121"><span style="font-size: small;"><b>Micro</b></span></td>
<td class="xl65" style="border-left: none; width: 42pt;" width="56"><span style="font-size: small;"><br /></span></td>
<td class="xl65" style="border-left: none; width: 94pt;" width="125"><span style="font-size: small;"><b>Small</b></span></td>
<td class="xl65" style="border-left: none; width: 45pt;" width="60"><span style="font-size: small;"><br /></span></td>
<td class="xl65" style="border-left: none; width: 96pt;" width="128"><span style="font-size: small;"><b>Medium</b></span></td>
</tr>
<tr height="20" style="height: 15.0pt;">
<td class="xl66" height="20" style="border-top: none; height: 15.0pt;"><span style="font-size: small;"><br /></span></td>
<td class="xl66" style="border-left: none; border-top: none;"><span style="font-size: small;"><br /></span></td>
<td class="xl66" style="border-left: none; border-top: none;"><span style="font-size: small;"><br /></span></td>
<td class="xl66" style="border-left: none; border-top: none;"><span style="font-size: small;"><br /></span></td>
<td class="xl66" style="border-left: none; border-top: none;"><span style="font-size: small;"><br /></span></td>
<td class="xl66" style="border-left: none; border-top: none;"><span style="font-size: small;"><br /></span></td>
<td class="xl66" style="border-left: none; border-top: none;"><span style="font-size: small;"><br /></span></td>
</tr>
<tr height="80" style="height: 60.0pt;">
<td class="xl67" height="80" style="border-top: none; height: 60.0pt; width: 87pt;" width="116"><span style="font-size: small;"><b>Manufacturing & Services</b></span></td>
<td class="xl67" style="border-left: none; border-top: none; width: 44pt;" width="59"><span style="font-size: small;"><br /></span></td>
<td class="xl67" style="border-left: none; border-top: none; width: 91pt;" width="121"><span style="font-size: small;">Investment
Less than 1 crore and Turnover Less than 5 crore</span></td>
<td class="xl67" style="border-left: none; border-top: none; width: 42pt;" width="56"><span style="font-size: small;"><br /></span></td>
<td class="xl67" style="border-left: none; border-top: none; width: 94pt;" width="125"><span style="font-size: small;">Investment
Less than 10 crore and Turnover Less than 50 crore</span></td>
<td class="xl67" style="border-left: none; border-top: none; width: 45pt;" width="60"><span style="font-size: small;"><br /></span></td>
<td class="xl67" style="border-left: none; border-top: none; width: 96pt;" width="128"><span style="font-size: small;">Investment
Less than 20 crore and Turnover Less than 100 crore</span></td>
</tr>
</tbody></table>
<div style="text-align: justify;">
<span style="font-size: small;"><br /></span></div>
<div style="text-align: justify;">
<span style="font-size: small;">5. Global Government tender upto Rs. 200 crores to be discontinued.</span></div>
<div style="text-align: justify;">
<span style="font-size: small;"><br /></span></div>
<div style="text-align: justify;">
<span style="font-size: small;">6. E-Market Linkage for MSMEs to act as replacement for Trade Fair and Exhibition. Government will clear all the dues within next 45 days.</span><br />
<span style="font-size: small;"><br /></span>
<span style="font-size: small;"><br /></span>
<span style="font-size: small;">Announcement for Employees:</span><br />
<span style="font-size: small;"><br /></span>
<span style="font-size: small;">1. Government will contribute the EPF for next 3 months for Employer as well Employee share. This will provide liquidy relief of Rs. 2500 cr to 3.67 lakhs establishments and for 72.22 Lakh employees.</span><br />
<span style="font-size: small;"><br /></span></div>
<div style="text-align: justify;">
<span style="font-size: small;">2. EPF rate decreased to 10% from past 12% for next three years for both Employer and Employee share. This will infuse 6750 crores to these institutions.</span><br />
<span style="font-size: small;"><br /></span>
<span style="font-size: small;"><br /></span>
<span style="font-size: small;">Announcment for NBFC/HFC/MFI</span><br />
<span style="font-size: small;"><br /></span>
<span style="font-size: small;">1. Government will infuse 30000 crore under Special Liquidity scheme into NBFC/HFC/MFI through Investment in <b>Investment Grade Debt Paper.</b></span><br />
<br />
<span style="font-size: small;">2. Rs. 45000 crore partial credit Guarantee Scheme<b> </b>for NBFC's. First 20% loss will be borne by the Guarantor i.e. Government of India.</span><br />
<br />
<br />
<span style="font-size: small;">DISCOMs</span><br />
<span style="font-size: small;"><br /></span>
<span style="font-size: small;">Rs. 90000 crores liquidity injection for DISCOMs on their due receivables to increase their cash flow.</span><br />
<span style="font-size: small;"><br /></span>
<span style="font-size: small;"><br /></span>
<span style="font-size: small;">INCOME TAX RELIEFS</span><br />
<span style="font-size: small;"><br /></span>
<span style="font-size: small;">We have complied all the detailed Income Tax reliefs provided in First part in our other post. You can read it here <a href="https://www.casamachar.com/2020/05/income-tax-relief-under-economic.html">INCOME TAX RELIEF</a>.</span><br />
<span style="font-size: small;">Brief reliefs are given below:</span><br />
<br />
<span style="font-size: small;">1. Due date for ITR extended to 30th November 2020 from 31st July 2020 and 31st October 2020.</span><br />
<br />
<span style="font-size: small;">2. Due date of Tax Audit increased to 31st October, 2020 from 30th September 2020.</span><br />
<br />
<span style="font-size: small;">3. Non Salaried TDS and TCS will be reduced by 25% on rates applicable for payments made from 14-05-2020 to 31.03.2021.</span><br />
<br />
<span style="font-size: small;">4 Vivad pe Vishwas Scheme to be extended till 31st December 2020.</span><br />
<br />
<span style="font-size: small;">5. Assessments that are getting barred on 30th September 2020 extended to 31st December 2020 and that getting barred on 31st March 2021 to 30th September 2021.</span>
<span style="font-size: small;"><br /></span>
<span style="font-size: small;"><br /></span>
<span style="font-size: small;"><br /></span>
<span style="font-size: small;">OTHER RELIEFS</span><br />
<span style="font-size: small;"><br /></span>
<span style="font-size: small;">1. Extension of works of Government contracts by Six months for pending contracts.</span><br />
<span style="font-size: small;">2. Partial release of Bank Grantees to the extent of work completed by the Contractors.</span><br />
<span style="font-size: small;">3.Extension of due dates of Registration and Completion of Real Estate Projects under RERA by 3 months.</span><br />
<span style="font-size: small;"><br /></span></div>
</div>
Akshay Jainhttp://www.blogger.com/profile/05081848744430384763noreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-36183761408870074882016-06-02T17:29:00.001+05:302016-06-02T17:29:25.038+05:30FAQs on The Income Tax Declaration Scheme, 2016<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">FAQs</span></b></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Circular No.17 of 2016</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Question No.1: Where an undisclosed
income in the form of investment in asset is declared under the Scheme and tax,
surcharge and penalty is paid on the fair market value of the asset as on
01.06.2016,then will the declarant be liable for capital gains on sale of such
asset in the future? If yes, then how will the capital gains in such case be
computed?</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Answer: Yes, the declarant will be
liable for capital gains under the Income-tax Act on sale of such asset in
future. As per the current provisions of the Income-tax Act, the capital gains
is computed by deducting cost of acquisition from the sale price. However,
since the asset will be taxed at its fair market value the cost of acquisition
for the purpose of Capital Gains shall be the fair market value as on
01.06.2016 and the period of holding shall start from the said date(i.e. the
date of determination of fair market value for the purposes of the Scheme)</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Question No.2: Where a notice under
section 142(1)/ 143(2)/ 148/ 153A/ 153C of the Income-tax Act has been issued
to a person for an assessment year will he be ineligible from making a
declaration under the Scheme?</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Answer: The person will only be
ineligible from declaration for those assessment years for which a notice under
section142(1)/143(2)/148/153A/153C is issued and the proceeding is pending
before the Assessing Officer. He is free to declare undisclosed income for other
years for which no notice under above referred sections has been issued.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Question No.3 :As per the Scheme, declaration
cannot be made where an undisclosed asset has been acquired during any previous
year relevant to an assessment year for which a notice under section 142,
143(2), 148, 153A or 153C of the Income-tax Act has been issued. If the notice
has been issued but not served on the declarant then how will he come to know
whether the notice has been issued? </span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Answer: The declarant will not be
eligible for declaration under the Scheme where the undisclosed income relates
to the assessment year where a notice under section 142, 143(2), 148, 153A or
153C of the Income-tax Act has been issued and served on the declarant on or
before 31stday of May, 2016. The declarant is required to file a declaration
regarding receipt of any such notice in Form-1.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Question No.4:In a case where the undisclosed
income is represented in the form of investment in asset and such asset is
partly from income that has been assessed to tax earlier, then what shall be
the method of computation of undisclosed income represented by such undisclosed
asset for the purposes of the Scheme? </span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Answer: As per sub-rule (2) of rule
3 of the Income Declaration Scheme Rules, 2016, where investment in any asset
is partly from an income which has been assessed to tax, the undisclosed income
represented in form of such asset will be the fair market value of the asset
determined in accordance with sub-rule (1)of rule 3asreduced by an amount which
bears to the value of the asset as on the 1.6.2016, the same proportion as the
assessed income bears to the total cost of the asset.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">This is illustrated by an example as
under: Investment in acquisition of asset in previous year 2013-14 is of Rs.500
out of which Rs.200 relates to income assessed to tax in A.Y. 2012-13 and
Rs.300 is from undisclosed income pertaining to previous year 2013-14. The fair
market value of the asset as on 01.06.2016 is Rs.1500. The undisclosed income represented
by this asset under the scheme shall be: 1500 minus (1500 X <u>200</u>) =Rs.900
</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 207.0pt; margin-right: 0in; margin-top: 0in; text-align: justify; text-indent: 40.5pt;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">500</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Question No. 5 :Can a declaration be
made of undisclosed income which has been assessed to tax and the case is
pending before an Appellate Authority?</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Answer: As per section 189 of the
Finance Act, 2016, the declarant is not entitled to re-open any assessment or
reassessment made under the Income-tax Act. Therefore, he is not entitled to
avail the tax compliance in respect of such income. However, he can declare
other undisclosed income for the said assessment year which has not been
assessed under the Income-tax Act. </span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Question No.6: Can a person against
whom a search/ survey operation has been initiated file declaration under the
Scheme?</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Answer:(a) The person is not
eligible to make a declaration under the Scheme if a search has been initiated
and the time for issuance of notice under section 153A has not expired, even if
such notice for the relevant assessment year has not been issued. In this case,
however, the person is eligible to file a declaration in respect of an
undisclosed income in relation to an assessment year which is prior to
assessment years relevant for the purpose of notice under section 153A. </span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">(b) In case of survey operation the
person is barred from making a declaration under the Scheme in respect of an
undisclosed income in which the survey was conducted. The person is, however,
eligible to make a declaration in respect of an undisclosed income of any other
previous year.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Question No. 7: Where a search/
survey operation was conducted and the assessment has been completed but
certain income was neither disclosed nor assessed, then whether such un assessed
income can be declared under the Scheme?</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Answer: Yes, such undisclosed income
can be declared under the Scheme. </span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Question No.8: What are the
consequences if no declaration under the Schemeis made in respect of
undisclosed income prior to the commencement of the Scheme?</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Answer: As per section 197(c) of the
Finance Act, 2016, where any income has accrued or arisen or received or any
asset has been acquired out of such income prior to the commencement of the
Scheme and no declaration is made under the Scheme, then such income shall be
deemed to have been accrued, arisen or received or the value of the asset
acquired out of such income shall be deemed to have been acquired in the year
in which a notice under section 142/143(2)/148/153A/153C is issued by the
Assessing Officer and the provisions of the Income-tax Act shall apply
accordingly.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Question No.9: If a declaration of
undisclosed income is made under the Scheme and the same was found ineligible due
to the reasons listed in section 196 of the Finance Act, 2016, then will the
person be liable for consequences under section 197(c)of the Finance Act, 2016?</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Answer: In respect of such
undisclosed income which has been duly declared in good faith but not found
eligible, then such income shall not be hit by section 197(c)of the Finance
Act, 2016. However, such undisclosed income may be assessed under the normal
provisions of the Income-tax Act, 1961</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Question No.10: If a person declares
only a part of his undisclosed income under the Scheme, then will he get
immunity under the Scheme in respect of the part income declared?</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Answer: It is expected that one
should declare all his undisclosed income. However, in such a case the person will
get immunity as per the provisions of the Scheme in respect of the undisclosed
income declared under the Scheme and no immunity will be available in respect
of the undisclosed income which is not declared.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Question No.11: Can a person declare
under the Scheme his undisclosed income which has been acquired from money
earned through corruption?</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Answer: No. As per section 196(b)of
the Finance Act,2016,the Scheme shall not apply, inter-alia, in relation to
prosecution of any offence punishable under the Prevention of Corruption Act,
1988. Therefore, declaration of such undisclosed income cannot be made under
the Scheme. However, if such a declaration is made and in an event it is found
that the income represented money earned through corruption it would amount to
misrepresentation of facts and the declaration shall be void under section
193of the Finance Act, 2016. If a declaration is held as void, the provisions of
the Income-tax Act shall apply in respect of such income as they apply in
relation to any other undisclosed income</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Question No.12: Whether at the time
of declaration under the Scheme, will the Principal Commissioner/Commissioner
do any enquiry in respect of the declaration made?</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Answer : After the declaration is
made the Principal Commissioner/ Commissioner will enquire whether any
proceeding under section 142(1)/143(2)/148/153A/153Cis pending for the
assessment year for which declaration has been made. Apart from this no other
enquiry will be conducted by him at the time of declaration.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Question No.13: Will the
declarations made under the Scheme be kept confidential?</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Answer: The Scheme incorporates the
provisions of section 138 of the Income-tax Act relating to disclosure of
information in respect of assessees. Therefore, the information in respect of
declaration made is confidential as in the case of return of income filed by
assessees.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-spacerun: yes;"> </span>Question No.14: Is it necessary to file a
valuation report of an undisclosed income represented in the form of investment
in asset along with the declaration under the Scheme? </span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Answer: It is not mandatory to file
the valuation report of the undisclosed income represented in the form of
investment in asset along with the declaration. However, the declarant should
have the valuation report. While e-filing the declaration on the departmental
website a facility for uploading the documents will be available</span></div>
</div>
Akshay Jainhttp://www.blogger.com/profile/05081848744430384763noreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-44296934752723892232016-06-02T17:29:00.000+05:302016-06-02T17:34:06.722+05:30Everything You Need to Know about The Income Tax Declaration Scheme, 2016<div dir="ltr" style="text-align: left;" trbidi="on">
<!--[if gte mso 9]><xml>
<w:WordDocument>
<w:View>Normal</w:View>
<w:Zoom>0</w:Zoom>
<w:TrackMoves/>
<w:TrackFormatting/>
<w:PunctuationKerning/>
<w:ValidateAgainstSchemas/>
<w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid>
<w:IgnoreMixedContent>false</w:IgnoreMixedContent>
<w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText>
<w:DoNotPromoteQF/>
<w:LidThemeOther>EN-US</w:LidThemeOther>
<w:LidThemeAsian>X-NONE</w:LidThemeAsian>
<w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript>
<w:Compatibility>
<w:BreakWrappedTables/>
<w:SnapToGridInCell/>
<w:WrapTextWithPunct/>
<w:UseAsianBreakRules/>
<w:DontGrowAutofit/>
<w:SplitPgBreakAndParaMark/>
<w:DontVertAlignCellWithSp/>
<w:DontBreakConstrainedForcedTables/>
<w:DontVertAlignInTxbx/>
<w:Word11KerningPairs/>
<w:CachedColBalance/>
</w:Compatibility>
<m:mathPr>
<m:mathFont m:val="Cambria Math"/>
<m:brkBin m:val="before"/>
<m:brkBinSub m:val="--"/>
<m:smallFrac m:val="off"/>
<m:dispDef/>
<m:lMargin m:val="0"/>
<m:rMargin m:val="0"/>
<m:defJc m:val="centerGroup"/>
<m:wrapIndent m:val="1440"/>
<m:intLim m:val="subSup"/>
<m:naryLim m:val="undOvr"/>
</m:mathPr></w:WordDocument>
</xml><![endif]--><br />
<!--[if gte mso 9]><xml>
<w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true"
DefSemiHidden="true" DefQFormat="false" DefPriority="99"
LatentStyleCount="267">
<w:LsdException Locked="false" Priority="0" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Normal"/>
<w:LsdException Locked="false" Priority="9" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="heading 1"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 2"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 3"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 4"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 5"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 6"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 7"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 8"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 9"/>
<w:LsdException Locked="false" Priority="39" Name="toc 1"/>
<w:LsdException Locked="false" Priority="39" Name="toc 2"/>
<w:LsdException Locked="false" Priority="39" Name="toc 3"/>
<w:LsdException Locked="false" Priority="39" Name="toc 4"/>
<w:LsdException Locked="false" Priority="39" Name="toc 5"/>
<w:LsdException Locked="false" Priority="39" Name="toc 6"/>
<w:LsdException Locked="false" Priority="39" Name="toc 7"/>
<w:LsdException Locked="false" Priority="39" Name="toc 8"/>
<w:LsdException Locked="false" Priority="39" Name="toc 9"/>
<w:LsdException Locked="false" Priority="35" QFormat="true" Name="caption"/>
<w:LsdException Locked="false" Priority="10" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Title"/>
<w:LsdException Locked="false" Priority="1" Name="Default Paragraph Font"/>
<w:LsdException Locked="false" Priority="11" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtitle"/>
<w:LsdException Locked="false" Priority="22" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Strong"/>
<w:LsdException Locked="false" Priority="20" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Emphasis"/>
<w:LsdException Locked="false" Priority="59" SemiHidden="false"
UnhideWhenUsed="false" Name="Table Grid"/>
<w:LsdException Locked="false" UnhideWhenUsed="false" Name="Placeholder Text"/>
<w:LsdException Locked="false" Priority="1" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="No Spacing"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 1"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 1"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 1"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 1"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 1"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 1"/>
<w:LsdException Locked="false" UnhideWhenUsed="false" Name="Revision"/>
<w:LsdException Locked="false" Priority="34" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="List Paragraph"/>
<w:LsdException Locked="false" Priority="29" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Quote"/>
<w:LsdException Locked="false" Priority="30" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Quote"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 1"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 1"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 1"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 1"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 1"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 1"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 1"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 1"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 2"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 2"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 2"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 2"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 2"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 2"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 2"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 2"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 2"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 2"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 2"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 2"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 2"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 2"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 3"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 3"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 3"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 3"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 3"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 3"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 3"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 3"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 3"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 3"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 3"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 3"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 3"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 3"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 4"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 4"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 4"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 4"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 4"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 4"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 4"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 4"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 4"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 4"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 4"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 4"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 4"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 4"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 5"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 5"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 5"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 5"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 5"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 5"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 5"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 5"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 5"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 5"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 5"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 5"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 5"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 5"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 6"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 6"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 6"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 6"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 6"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 6"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 6"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 6"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 6"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 6"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 6"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 6"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 6"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 6"/>
<w:LsdException Locked="false" Priority="19" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtle Emphasis"/>
<w:LsdException Locked="false" Priority="21" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Emphasis"/>
<w:LsdException Locked="false" Priority="31" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtle Reference"/>
<w:LsdException Locked="false" Priority="32" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Reference"/>
<w:LsdException Locked="false" Priority="33" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Book Title"/>
<w:LsdException Locked="false" Priority="37" Name="Bibliography"/>
<w:LsdException Locked="false" Priority="39" QFormat="true" Name="TOC Heading"/>
</w:LatentStyles>
</xml><![endif]--><!--[if gte mso 10]>
<style>
/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Table Normal";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-qformat:yes;
mso-style-parent:"";
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin-top:0in;
mso-para-margin-right:0in;
mso-para-margin-bottom:10.0pt;
mso-para-margin-left:0in;
line-height:115%;
mso-pagination:widow-orphan;
font-size:11.0pt;
font-family:"Calibri","sans-serif";
mso-ascii-font-family:Calibri;
mso-ascii-theme-font:minor-latin;
mso-hansi-font-family:Calibri;
mso-hansi-theme-font:minor-latin;}
table.MsoTableGrid
{mso-style-name:"Table Grid";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-priority:59;
mso-style-unhide:no;
border:solid windowtext 1.0pt;
mso-border-alt:solid windowtext .5pt;
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-border-insideh:.5pt solid windowtext;
mso-border-insidev:.5pt solid windowtext;
mso-para-margin:0in;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:11.0pt;
font-family:"Calibri","sans-serif";
mso-ascii-font-family:Calibri;
mso-ascii-theme-font:minor-latin;
mso-hansi-font-family:Calibri;
mso-hansi-theme-font:minor-latin;}
</style>
<![endif]-->
<br />
<div align="center" class="MsoNormal" style="text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif";">Everything You Need
to Know about</span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif";">The Income Tax
Declaration Scheme, 2016</span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "times new roman" , "serif";">The
Income Tax Declaration Scheme, as the name suggest is disclosure of Income
which has escaped assessment under Income Tax Laws. The Scheme defines the
criteria of Income to be termed as Undisclosed, manner of its disclosure and
Tax thereon. Before we start detailed analysis of the scheme it is important to
know the reasons for bringing such a scheme for the citizens of India.</span><br />
<a name='more'></a></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "times new roman" , "serif";">As
we all are aware, as soon as this new government has come to the Parliament,
there has been lot of steps taken for disclosure of Black money which has
corrupted the very roots of our Country. Various methods such as Swiss Bank
Name Disclosures, Panama Papers, Black Money Disclosure Scheme etc. had been tried
till date to help curb the Black Money from the economy. But till date most of
the methods have been proved useless as no major Black money has been
disclosed. There are a lot of reasons for the same, which also involves some
genuine reasons, which are:</span></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l3 level1 lfo1; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Lack of Knowledge on the parts of
Tax Payers.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l3 level1 lfo1; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Lack of Effective Mechanism to
make defaulters disclose their money.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l3 level1 lfo1; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Risk of Assessment and
Re-assessment on Disclosed Income.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l3 level1 lfo1; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">4.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Genuine cases of Income escaped
from Assessment due to delay in filing of ITR, Wrong application of Laws and
Rules etc.</span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l3 level1 lfo1; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">5.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Political or bureaucratic
pressure.</span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "times new roman" , "serif";">These
are some well known reasons, why the various methods have failed till date. To
provide one more opportunity to defaulters as well as Black money holders to
disclose their income and get relief from Government interventions, scheme has
been launched applicable from 1<sup>st</sup> of June 2016.</span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif";">ABOUT THE SCHEME:</span></b></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l14 level1 lfo2; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">This Scheme shall be called the
Income Declaration Scheme, 2016</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l14 level1 lfo2; text-align: justify; text-indent: 0in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">The Scheme shall be governed by
Finance Act, 2016, Income Declaration Scheme Rules, 2016 and any Circulars and
Notification issued by Competent Authority</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l14 level1 lfo2; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Under the Scheme, any person may
make a declaration in respect of any income chargeable to tax under the
Income-tax Act for any assessment year prior to the assessment year beginning
on the 1st day of April, 2017.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l14 level1 lfo2; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">4.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">The Scheme shall come in force
from 1<sup>st</sup> Day of June, 2016 (01.06.2016)</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l14 level1 lfo2; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">5.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">The Scheme shall close on 30<sup>th</sup>
September, 2016 (30.09.2016)</span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l14 level1 lfo2; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">6.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">The rate of Tax Including
Surcharge and Penalty will be 45%</span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif";">IMPORTANT DATES
UNDER THE SCHEME:</span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 239.4pt;" valign="top" width="319"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif";">DATE OF COMMENCMENT OF SCHEME</span></b></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 239.4pt;" valign="top" width="319"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif";">1<sup>st</sup>
Day of June, 2016 (01.06.2016)</span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 1;">
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 239.4pt;" valign="top" width="319"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 239.4pt;" valign="top" width="319"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
</td>
</tr>
<tr style="mso-yfti-irow: 2;">
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 239.4pt;" valign="top" width="319"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif";">DATE OF CLOSURE OF SCHEME</span></b></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 239.4pt;" valign="top" width="319"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif";">30<sup>th</sup>
September, 2016 (30.09.2016)</span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 3;">
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 239.4pt;" valign="top" width="319"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 239.4pt;" valign="top" width="319"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
</td>
</tr>
<tr style="mso-yfti-irow: 4;">
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 239.4pt;" valign="top" width="319"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif";">LAST DATE OF PAYMENT OF TAX,
SURCHARGE AND PENALTY</span></b><span style="font-family: "times new roman" , "serif";"></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 239.4pt;" valign="top" width="319"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif";">30<sup>th</sup>
day of November, 2016 (30.11.2016)</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
</td>
</tr>
<tr style="mso-yfti-irow: 5;">
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 239.4pt;" valign="top" width="319"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 239.4pt;" valign="top" width="319"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
</td>
</tr>
<tr style="mso-yfti-irow: 6; mso-yfti-lastrow: yes;">
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 239.4pt;" valign="top" width="319"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif";">LAST DATE OF TRANSFER OF
PROPERTY BY BENAMIDAR</span></b></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 239.4pt;" valign="top" width="319"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif";">30<sup>th</sup>
day of September, 2017 (30.09.2017)</span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">[Notification
No.32/2016,F.No.142/8/2016-TPL]</span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoListParagraph" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif";">TYPE OF INCOME OR
ASSETS WHICH CAN BE DECLARED AND WHICH CANNOT BE DECLARED</span></b></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif";">Following
types of Income and Assets can be declared as Income under Income Declaration
Scheme, 2016.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l17 level1 lfo3; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Income can be declared for any
assessment year prior to the assessment year beginning on the 1st day of April,
2017</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l17 level1 lfo3; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Income for which he has failed to
furnish a return under section 139 of the Income-tax Act;</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l17 level1 lfo3; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Income which he has failed to
disclose in a return of income furnished by him under the Income-tax Act before
the date of commencement of this Scheme;</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l17 level1 lfo3; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">4.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Income which has escaped
assessment by reason of the omission or failure on the part of such person to
furnish a return under the Income-tax Act or to disclose fully and truly all
material facts necessary for the assessment or otherwise.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l17 level1 lfo3; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">5.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Where the income chargeable to
tax is declared in the form of investment in any asset, the fair market value
of such asset as on the date of commencement of this Scheme shall be deemed to
be the undisclosed income for the purposes of sub-section (1).</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif";">Following
types of Income and Assets cannot be declared as Income under Income
Declaration Scheme, 2016.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l7 level1 lfo4; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Income of Person in respect of
whom an order of detention has been made under the Conservation of Foreign
Exchange and Prevention of Smuggling Activities Act, 1974</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .25in; margin-right: 0in; margin-top: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l7 level1 lfo4; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Income in relation to prosecution
for any offence punishable under Chapter IX or Chapter XVII of the Indian Penal
Code, the Narcotic Drugs and Psychotropic Substances Act, 1985, the Unlawful
Activities (Prevention) Act, 1967 and the Prevention of Corruption Act, 1988</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l7 level1 lfo4; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">To any person notified under
section 3 of the Special Court (Trial of Offences Relating to Transactions in
Securities) Act, 1992;</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l7 level1 lfo4; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">4.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Income in relation to any
undisclosed foreign income and asset which is chargeable to tax under the Black
Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l7 level1 lfo4; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">5.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Income cannot be declared under
the scheme for which notice under section<span style="mso-spacerun: yes;">
</span>142, 143(2), 148, 153A, 153C and proceeding is pending</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l7 level1 lfo4; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">6.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Income for which search has been
conducted under section 132 or requisition has been made under section 132A or
a survey has been carried out under section 133A of the Income-tax Act</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l7 level1 lfo4; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">7.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Where
any information has been received by the competent authority under an agreement
entered into by the Central Government under section 90 or section 90A of the
Income-tax Act in respect of such undisclosed asset</span><span style="font-family: "times new roman" , "serif";"></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif";">RATE OF TAX, SURCHARGE AND
PENALTY</span></b></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l15 level1 lfo5; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Tax @ 30% will be charged on
Un-disclosed income</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l15 level1 lfo5; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Krishi Kalyan cess @ 7.50% will
be charged on Un-disclosed income</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l15 level1 lfo5; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Penalty@ 7.50% will be charged on
Un-disclosed income</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l15 level1 lfo5; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">4.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Total of 45% will have to be paid
before 30<sup>th</sup> November, 2016</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif";">PROCESS OF DECLERATION</span></b></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l18 level1 lfo6; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Declaration of Income or Income
in form of Investment shall be made in <b style="mso-bidi-font-weight: normal;">FORM
1</b></span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l18 level1 lfo6; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif";">The
declaration shall be furnished:</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; text-align: justify;">
<span style="font-family: "times new roman" , "serif";">(a) Electronically under digital
signature; or </span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; text-align: justify;">
<span style="font-family: "times new roman" , "serif";">(b) Through transmission of data
in the form electronically under electronic verification code; or </span></div>
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; text-align: justify;">
<span style="font-family: "times new roman" , "serif";">(c) In print form, to the
concerned Principal Commissioner or the Commissioner who has the jurisdiction
over the declarant.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l18 level1 lfo6; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Acknowledgment will be provided
within 15 days from the end of month in which declaration is made in <b style="mso-bidi-font-weight: normal;">Form 2</b></span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l18 level1 lfo6; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">4.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">Proof of Payment of Tax,
Surcharge and Penalty will have to made in <b style="mso-bidi-font-weight: normal;">Form
3</b></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l18 level1 lfo6; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">5.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif";">After receipt of Form 3, Form 4
will be issued within 15 days from the end of month in which declaration is
made to acknowledge payment of tax.</span></div>
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif";">DECLERATION TO BE SIGNED BY WHOM</span></b></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l10 level1 lfo7; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">INDIVIDUAL</span></b><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">-
By the individual himself; where such individual is absent from India, by the
individual concerned or by some person duly authorised by him in this behalf; and
where the individual is mentally incapacitated from attending to his affairs,
by his guardian or by any other person competent to act on his behalf;</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l10 level1 lfo7; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-spacerun: yes;"> </span><b style="mso-bidi-font-weight: normal;">HUF</b>-
By the Karta, and where the Karta is absent from India or is mentally
incapacitated from attending to his affairs, by any other adult member of such
family;</span></div>
<div class="MsoListParagraphCxSpMiddle" style="text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l10 level1 lfo7; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">COMPANY</span></b><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">-By
the managing director thereof, or where for any unavoidable reason such
managing director is not able to sign the declaration or where there is no
managing director, by any director thereof;</span></div>
<div class="MsoListParagraphCxSpMiddle" style="text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l10 level1 lfo7; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">4.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">FIRM-
</span></b><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">By the managing partner thereof, or where for any
unavoidable reason such managing partner is not able to sign the declaration,
or where there is no managing partner as such, by any partner thereof, not
being a minor;</span></div>
<div class="MsoListParagraphCxSpMiddle" style="text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l10 level1 lfo7; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">5.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">AOP-</span></b><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">
By any member of the association or the principal officer thereof; and</span></div>
<div class="MsoListParagraphCxSpMiddle" style="text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l10 level1 lfo7; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">6.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">ANY OTHER PERSON-</span></b><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">
By that person or by some other person competent to act on his behalf.</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif";">FAIR MARKET VALUE</span></b></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">The fair market value of the asset
shall be determined in the following manner, namely</span></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l0 level1 lfo8; text-align: justify; text-indent: 0 in;">
<span style="font-family: "arial" , "sans-serif"; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Bullion, Jewellery or precious stone-</span></b><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">
Value shall be the higher of</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 1.0in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l2 level1 lfo10; text-align: justify; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(I)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">its cost of acquisition; and</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 1.0in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 1.0in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l2 level1 lfo10; text-align: justify; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(II)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">the price such bullion, jewellery or
precious stone shall ordinarily fetch if sold in the open market as on the
1st<span style="mso-spacerun: yes;"> </span>day of June, 2016, on the basis of
the valuation report obtained by the declarant from a registered valuer;</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l0 level1 lfo8; text-align: justify; text-indent: 0 in;">
<span style="font-family: "arial" , "sans-serif"; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Archaeological collections,
drawings, paintings, sculptures or any work of art (hereinafter referred to as
artistic work)</span></b><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"> Value <span style="mso-spacerun: yes;"> </span>shall be the higher of—</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 1.0in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l6 level1 lfo9; text-align: justify; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(I)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">its cost of acquisition; and</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 1.0in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 1.0in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l6 level1 lfo9; text-align: justify; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(II)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">the price such artistic work shall
ordinarily fetch if sold in the open market as on the 1st day of June, 2016 on
the basis of the valuation report obtained by the declarant from a registered
valuer;</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l0 level1 lfo8; text-align: justify; text-indent: 0 in;">
<span style="font-family: "arial" , "sans-serif"; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Shares and Securities of</span></b><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">—</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 1.0in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l9 level1 lfo12; text-align: justify; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(I)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">quoted share and securities shall be
the higher of—</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 1.0in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l12 level1 lfo11; text-align: justify; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(i)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">its cost of acquisition; and</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 1.0in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 1.0in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l12 level1 lfo11; text-align: justify; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(ii)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">the price determined by taking—</span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 1.0in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .75in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l1 level1 lfo13; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(A)<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">the
average of the lowest and highest price of such shares and securities quoted on
a recognised stock exchange as on the 1<sup>st</sup> day of June, 2016; or</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .75in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .75in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l1 level1 lfo13; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(B)<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">the
average of the lowest and highest price of such shares and securities on a
recognised stock exchange on a date immediately preceding the 1<sup>st</sup>
day of June, 2016 when such shares and securities were traded on a recognised
stock exchange, where on the 1<sup>St</sup> day of June, 2016 there is no
trading in such shares and securities on a recognised stock exchange;</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 1.0in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l9 level1 lfo12; text-align: justify; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(II)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">unquoted equity shares shall be the
higher of</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 1.0in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 1.0in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l16 level1 lfo14; text-align: justify; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(i)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">its cost of acquisition; and</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 1.0in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l16 level1 lfo14; text-align: justify; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(ii)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">the value, on the 1st day of June,
2016, of such equity shares as determined in the following manner, namely:</span></div>
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 1.0in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">the fair market value of unquoted
equity shares =<u>(A+B -L) × (PV),</u></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 3.5in; margin-right: 0in; margin-top: 0in; text-align: justify; text-indent: 13.5pt;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">(PE)</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">where,</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">A =book value of all the assets in
the balance sheet (other than bullion, jewellery, precious stone, artistic
work, shares, securities and immovable property) as reduced by,-(i) any amount
of income-tax paid, if any, less the amount of income-tax refund claimed, if
any, and (ii) any amount shown as asset including the unamortised amount of
deferred expenditure which does not represent the value of any asset;</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">B=fair market value of bullion,
jewellery, precious stone, artistic work, shares, securities and immovable
property as determined in the manner provided in this rule;</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">L=book value of liabilities shown in the balance sheet, but
not including the following amounts, namely:—</span></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .75in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l11 level1 lfo15; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(i)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">the paid-up capital in respect of
equity shares;</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .75in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l11 level1 lfo15; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(ii)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">the amount set apart for payment of
dividends on preference shares and equity shares;</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .75in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l11 level1 lfo15; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(iii)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">reserves and surplus, by whatever
name called, even if the resulting figure is negative, other than those set
apart towards depreciation;</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .75in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l11 level1 lfo15; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(iv)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">any amount representing provision
for taxation, other than amount of income-tax paid, if any, less the amount of
income-tax claimed as refund, if any, to the extent of the excess over the tax
payable with reference to the book profits in accordance with the law
applicable thereto;</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .75in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l11 level1 lfo15; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(v)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">any amount representing provisions
made for meeting liabilities, other than ascertained liabilities;</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .75in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l11 level1 lfo15; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(vi)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">any amount representing contingent
liabilities other than arrears of dividends payable in respect of cumulative
preference shares;</span></div>
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .75in; margin-right: 0in; margin-top: 0in; mso-add-space: auto;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">PE =total amount of paid up equity share capital as shown in
the balance-sheet;</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">PV=the paid up value of such equity share</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: 1.0in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l9 level1 lfo12; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(III)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">unquoted share and security other
than equity share in a company shall be the higher of,—</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .75in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l5 level1 lfo16; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(i)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">its cost of acquisition; and</span></div>
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .75in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l5 level1 lfo16; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(ii)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">the price that the share or security
shall ordinarily fetch if sold in the open market on the 1<sup>st</sup> day of
June, 2016, on the basis of the valuation report obtained by the declarant from
a registered valuer;</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l0 level1 lfo8; text-align: justify; text-indent: 0 in;">
<span style="font-family: "arial" , "sans-serif"; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">4.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Immovable property- </span></b><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Fair
Market Value shall be higher of—</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .75in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l8 level1 lfo17; text-align: justify; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(I)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">its cost of acquisition; and</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .75in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .75in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l8 level1 lfo17; text-align: justify; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(II)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">the price that the property shall
ordinarily fetch if sold in the open market on the 1<sup>st</sup> day of June,
2016 on the basis of the valuation report obtained by the declarant from a
registered valuer;</span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .75in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l0 level1 lfo8; text-align: justify; text-indent: 0 in;">
<span style="font-family: "arial" , "sans-serif"; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">5.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Interest in a Firm or an AOP or a
LLP</span></b><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">-<span style="mso-spacerun: yes;"> </span>of which he is a
member shall be determined in the manner as specified in clause (6);</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l0 level1 lfo8; text-align: justify; text-indent: 0 in;">
<span style="font-family: "arial" , "sans-serif"; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">6.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">The
net asset of the firm, association of persons or limited liability partnership
on the 1<sup>st</sup> day of June, 2016 shall first be determined and the
portion of the net asset of the firm, association of persons or limited
liability partnership as is equal to the amount of its capital shall be
allocated among its partners or members in the proportion in which capital has
been contributed by them and the residue of the net asset shall be allocated
among the partners or members in accordance with the agreement of partnership
or association or limited liability partnership for distribution of assets in the
event of dissolution of the firm, association or limited liability partnership,
or, in the absence of such agreement, in the proportion in which the partners
or members are entitled to share profits and the sum total of the amount so
allocated to a partner or member shall be treated as the value of the interest
of that partner or member in the partnership or association</span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Explanation—
For the purposes of this clause the net asset of the firm, association of
persons or limited liability partnership shall be (A + B -L), which shall be
determined in the manner provided in sub-clause (II) of clause (3);</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l0 level1 lfo8; text-align: justify; text-indent: in;">
<span style="font-family: "arial" , "sans-serif"; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">7.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Any Other Asset</span></b><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">-
Valuation of any other asset shall be higher of—</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .75in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l13 level1 lfo18; text-align: justify; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(I)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">its cost of acquisition or the
amount invested; and</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .75in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .75in; margin-right: 0in; margin-top: 0in; mso-add-space: auto; mso-list: l13 level1 lfo18; text-align: justify; text-indent: -.5in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(II)<span style="font: 7.0pt "Times New Roman";">
</span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">the price that the asset would fetch
if sold in the open market on the 1<sup>st</sup> day of June, 2016. </span></div>
<div class="MsoListParagraphCxSpLast">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">Explanation— For the purposes of
this rule,—</span></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l4 level1 lfo19; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(a)<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">“quoted
share or security” in relation to share or security means a share or security
quoted on any recognized stock exchange with regularity from time to time,
where the quotations of such shares or securities are based on current
transaction made in the ordinary course of business;</span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
<div class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l4 level1 lfo19; text-align: justify; text-indent: 0 in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">(b)<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">“unquoted
share and security” in relation to share or security means share or security
which is not a quoted share or security</span></div>
<div class="MsoListParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l4 level1 lfo19; text-align: justify; text-indent: 0in;">
<span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";">(c) “balance
sheet” in relation to any company means the balance sheet of such company
(including the notes annexed thereto and forming part of the accounts) as on
31st day of March, 2016, which has been audited by the auditor of the company
appointed under the Companies Act, 2013 (18 of 2013) and where the balance
sheet as on 31<sup>st</sup><span style="mso-spacerun: yes;"> </span>day of
March, 2016 is not audited, the balance sheet (including the notes annexed
thereto and forming part of the accounts) which has been approved and adopted
in the annual general meeting of the shareholders of the company</span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<a href="http://www.casamachar.com/2016/06/faqs-on-income-tax-declaration-scheme.html">FAQs on Income Tax Deceleration Scheme 2016</a><br />
<br />
For any queries and Suggestion, please mail us at:<br />
contactcasamachar@gmail.com</div>
Akshay Jainhttp://www.blogger.com/profile/05081848744430384763noreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-17454288273353969522015-09-09T17:20:00.000+05:302015-09-09T17:20:12.190+05:30No Extention of Due Date for E filing Tax Audit Reports and Income Tax Returns<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
Since the last date for filing Income Tax return is finally over, all the Tax Practitioners has started Efiling the Tax Audit Report and Income Tax returns of Audited as well as company form of Tax Payers. Rumors has already been running nation wide that Last date of filing Income Tax Returns for these Tax Payers will increase to 31st October or 30th November. Due to which many Income Tax payers who are required to get Tax Audit done can be seen relaxing. But today Ministry of Finance has issued some bad news for them. Ministry of Finance has recently issued Press Release in which it has clearly mentioned that:</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>"No Extension of Date for Filing of Returns due by 30th September for
Assessment Year 2015-16 for Certain Categories of Assessees Including
Companies, and Firms and, Individuals Engaged in Proprietary
Business/Profession etc whose Accounts are required to be Audited;
Taxpayers are Advised to file their Returns Well in Time to Avoid Last
Minute Rush "</b></div>
<a name='more'></a><br />
<div style="text-align: justify;">
<b><br /></b></div>
<div style="text-align: justify;">
This Press release is only for those Tax Payers who are required to get their accounts Audited by a Chartered Accountant and for the Companies (for others due dates are already expired).</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Below is the full press release as issued by Ministry of Finance:</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Income-tax returns for Assessment Year 2015-16 for certain categories of
assessees viz companies, firms and individuals engaged in proprietary
business/profession etc whose accounts are required to be audited, are
to be filed by 30th September, 2015. The audit report is also required
to be filed by the said date. <br /><br />
The Government has received representations from various stakeholders
seeking extension of date for filing of returns and tax audit reports
beyond 30th September 2015. The reasons cited are delay in notifying the
returns and related delay in availability of forms on the e-filing
website. <br /><br />
The matter has been considered. Income-Tax Returns Forms 3,4,5,6 and 7
which are used by the above mentioned categories of assessees were
notified for Assessment Year 2015-16 on 29.07.2015. The forms were
e-enabled and were available on the e-filing website of the Department
from 7th August 2015 giving enough time for compliance. The changes made
to these forms are not extensive as compared to the earlier years.
Further taxpayers entering into either international transactions or
specified domestic transactions are required to file their returns by
30th November 2015 only. <br /><br />
After consideration of all facts, it has been decided that the last date
for filing of returns due by 30th September 2015 will not be extended.
Taxpayers are advised to file their returns well in time to avoid last
minute rush. <br /><br />
</div>
<center>
*****</center>
<div style="text-align: justify;">
<br /><br />
DSM/KA
<br /><span style="color: ThreeDDarkShadow;">(Release ID :126732)</span></div>
<div style="text-align: justify;">
<span style="color: ThreeDDarkShadow;"><br /></span></div>
<div style="text-align: justify;">
<span style="color: ThreeDDarkShadow;">Source: </span><span style="text-align: left;"><span style="color: #666666;"><a href="http://pib.nic.in/newsite/erelease.aspx?relid=0">http://pib.nic.in/newsite/erelease.aspx?relid=0</a></span></span></div>
<div style="text-align: justify;">
<span style="text-align: left;"><br /></span></div>
<div style="text-align: justify;">
<span style="text-align: left;"><br /></span></div>
<div style="text-align: justify;">
<span style="text-align: left;"><span style="color: white;">No Extention of Due Date for E filing Tax Audit Reports and Income Tax Returns, Income Tax Return due date for Audit Cases, Income Tax due date Increased for Tax Audit Cases, Income Tax Due date for Company, 2015-2016, 2014-2015, Income Tax due date will not increase for Tax Audit cases.</span></span></div>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-7325614562360929362015-09-02T17:47:00.002+05:302015-09-02T18:01:32.830+05:30Income Tax Return Filing Dates Extended to 7th September (All Taxpayers)<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
Last date for filing Income Tax Return for AY 2015-2016 was extended earlier to 31st August from 31st July 2015. After the end of due date CBDT has been receiving a lot of representations from various groups regarding hardships faced in filing of Income Tax Returns. The dates were Increased for Gujarat recently but nothing was done for Other states taxpayers. After a lot of representations CBDT has finally increased the due date for filing the Income Tax Returns for AY 2015-2016 to 7th September, 2015.</div>
<a name='more'></a><br />
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgpHAZDgkYkoiFSKCCuwvrdCxb2oyLW4weS8tP15erDHPdoqMkWG7Vg9gd3_g06mc8sJl4FLXhuFOi44CSjZqV-a6KDQDJ1l_7hEN1iBJfcQ-PDvOn-Rg_jLlaqK_g_X5xt_QMAA0dr8do/s1600/3.+Extended+Date.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="INCOME TAX DATE EXTENDED TO 7TH SEPTEMBER 2015" border="0" height="332" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgpHAZDgkYkoiFSKCCuwvrdCxb2oyLW4weS8tP15erDHPdoqMkWG7Vg9gd3_g06mc8sJl4FLXhuFOi44CSjZqV-a6KDQDJ1l_7hEN1iBJfcQ-PDvOn-Rg_jLlaqK_g_X5xt_QMAA0dr8do/s640/3.+Extended+Date.png" title="INCOME TAX DUE DATE EXTENDED" width="640" /></a></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Yes, you read it right, Income Tax Return Due Date has been extended till 7th September, 2015. Below is the full notification issued by CBDT regarding the same on Income Tax Website:</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: center;">
F.No.225J154J2015JITA.II<br />
Government of India<br />
Ministry of Finance<br />
Department of Revenue<br />
Central Board of Direct Taxes</div>
<div style="text-align: center;">
<br />
North-Block, .ITA.II Division<br />
New Delhi, the 2nd ofSeptember, 2015</div>
<div style="text-align: center;">
<br /></div>
<div style="text-align: center;">
Order under Section 119 of the Income-tax Act. 1961</div>
<div style="text-align: justify;">
<br />
For Assessment Year 2015-2016, vide even number order dated 10th June, 2015, the Central Board of Direct Taxes ('CBDT') had extended the 'due-date' for filing Income-tax returns till 31st August, 2015 in cases of those taxpayers who were required to file their tax-return by 31St July, 2015. This date was further extended till 7th September, 2015 in case of taxpayers of Gujarat in view of dislocation of general life<br />
in that State in last week of August.</div>
<div style="text-align: justify;">
<br />
CBDT has further received representations that across the country, taxpayers had faced hardships in E-Filing Returns of Income on the last date i.e. 31st August, 2015 due to slowing down of certain e-services.</div>
<div style="text-align: justify;">
<br />
Therefore, after considering the matter, CBDT in exercise of powers conferred under section 119 of the Income-tax Act, 1961, hereby extends the 'due-date' for EFiling Returns of Income from 31st August, 2015 to 7th September, 2015 in respect of all the taxpayers who were required to E-File their returns by 31st August, 2015.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: white;">Income Tax, Income Tax Due Date, Income Tax Return Filing Date Extended to 7th September, ITR Date Extended for AY 2015-2016, ITR Date Extended to 7th September 2015 for All Over India. </span></div>
<div style="text-align: justify;">
</div>
<div style="text-align: justify;">
</div>
<div style="text-align: justify;">
</div>
<div style="text-align: justify;">
</div>
<div style="text-align: justify;">
</div>
</div>
Akshay Jainhttp://www.blogger.com/profile/05081848744430384763noreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-89058192090590912982015-08-07T11:05:00.001+05:302015-08-07T11:05:40.029+05:30Efiling of ITR 6 and ITR 7 is Enabled<div dir="ltr" style="text-align: left;" trbidi="on">
Income Tax Department has recently notified ITR Forms for AY 2015-2016 for filing manually to Income Tax Department. Department has also issued Utility for Efiling of these ITR1, ITR2, ITR3, ITR4, ITR4S and ITR5 till now and same has also been enabled at Income Tax Website for Efiling. To read our Updates regarding these forms please click on below mentioned links:<br />
<br />
<br />
<ul style="text-align: left;">
<li><a href="http://www.casamachar.com/2015/08/efiling-of-itr-3-itr-4-and-itr-7-now.html">Efiling of ITR 3, ITR 4 and ITR 7 Now Available</a></li>
<li><a href="http://www.casamachar.com/2015/07/income-tax-ay-2015-2016-itr-3-itr-4-itr.html">Income Tax AY 2015-2016- ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7 notified</a></li>
<li><a href="http://www.casamachar.com/2015/06/efiling-itr-2-and-itr-2-now-available.html">Efiling ITR-2 and ITR 2-A now Available</a></li>
<li><a href="http://www.casamachar.com/2015/06/efiling-of-income-tax-return-for-ay.html">Efiling of ITR 1 and ITR 4S AY 2015-2016 now Available</a></li>
</ul>
<div>
<br />
<a name='more'></a><br /></div>
<div>
The other two ITR forms i.e. ITR 6 and ITR 7 which are For Companies other than companies claiming exemption under section 11 and For persons including companies required to furnish return under section
139(4A) or section 139(4B) or section 139(4C) or section 139(4D) or
section 139(4E) respectively has also been enabled for Efiling.<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhYK9mFES6bElSmbMhg91UfDDAe6ErwMn62QeB9ov8qxUmHXUkd8EZlkJY0CuEC3MpT_3XK0saAfYGvYrNt5Q3Pr99gSDmn8jh68KxfHVxWfxl0o1WxDpDFEvvu622N1GaUR9vX2cEVshuP/s1600/3.+ITR+6.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Efiling of ITR 6 and ITR 7 AY 2015-2016" border="0" height="284" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhYK9mFES6bElSmbMhg91UfDDAe6ErwMn62QeB9ov8qxUmHXUkd8EZlkJY0CuEC3MpT_3XK0saAfYGvYrNt5Q3Pr99gSDmn8jh68KxfHVxWfxl0o1WxDpDFEvvu622N1GaUR9vX2cEVshuP/s640/3.+ITR+6.jpg" title="ITR 6 and ITR 7 enabled" width="640" /></a></div>
<br />
<div>
To Download the Income Tax Return 6 & 7 utility, visit the Income Tax Efiling Website:</div>
<div>
<br /></div>
<div style="text-align: center;">
<a href="http://incometaxindiaefiling.gov.in/">http://incometaxindiaefiling.gov.in/</a></div>
<div>
<br /></div>
Now all the Income Tax Forms are available at Income Tax Efiling website and same can be used to Efile the Income Tax Returns.The software companies are still to issue the Update for Efiling the ITR 6 and ITR 7 but those who cannot wait can use the Income Tax Department Utility and Efile Income Tax Return 6 & 7 to Income Tax Department. </div>
<div>
<br /></div>
<div>
CASAMACHAR.COM wishes happy Efiling to All the Tax Payers and Professionals.</div>
<div>
<br /></div>
<div>
<br /></div>
<div>
<br /></div>
<div>
<span style="color: white;">ITR 6, ITR 7, Income Tax Return 6, Income Tax Return 7, Efiling ITR 6 AY 2015-2016, Efiling ITR 7 AY 2015-2016</span></div>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-28808632335951407492015-08-05T14:58:00.001+05:302015-08-05T14:59:50.109+05:3010 Changes in Income Tax Return Forms for the Assessment Year 2015-2016<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
Recently Income Tax Department has issued new ITR forms for Assessment Year 2015-2016. These new forms are also available at efiling portal for Efiling Income Tax Returns. As the last dates for filing these forms are coming close, we have come with our Another list- <b><a href="http://www.casamachar.com/2015/08/10-changes-in-income-tax-return-forms.html">10 Changes in Income Tax Return for the Assessment Year 2015-2016.</a></b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Most of us rely on Income Tax Return preparation Softwares to Efile Income Tax Returns. We feed the details and software provide us with the Computation, missing data and errors in our XML file and we finalize our Income Tax Return.<b> </b>But have we ever wondered, if the rules used by the software companies are not correct. What will happen then? The answer is coming to us regularly these days in the form of Notice of Defective returns under section 139(9) or wrong processing of the returns under section 143(1). To save oneself and clients we should always look the manual copy of return before efiling it and also try to read the XML file (if possible). Here we are giving 10 things that has changed in ITR this assessment year and we should check it before filing the Income Tax Returns.</div>
<a name='more'></a><br />
<div style="text-align: justify;">
<br /></div>
<h3 style="text-align: justify;">
1. ADHAAR NUMBER</h3>
<div>
<br /></div>
<div style="text-align: justify;">
All of us know by now that Adhaar number is required from Assessment year 2015-2016 to be filled in the Income Tax Returns. It is not mandatory for those who are still not able to get it but for those who have, it is to be given in Income Tax Return. Are we doing it? Most of us will say yes and some would say no. But Adhaar is compulsory for those who have it and if your client or you have it, then it is better to provide that in the Income Tax Returns.<br />
<br /></div>
<h3 style="text-align: justify;">
</h3>
<h3 style="text-align: justify;">
2. PASSPORT NUMBER</h3>
<div>
<br /></div>
<div style="text-align: justify;">
</div>
<div style="text-align: justify;">
Yes you read it correct. Passport number is also to be given if the same is allotted to the Assessee. As per the professional community Passport number are asked in Income Tax Returns, to make sure assesse returned income matches with its expenses on Foreign Travel and also Passport number will help to track Foreign Assets and Foreign Income of the Assessee.</div>
<div style="text-align: justify;">
<br /></div>
<h3 style="text-align: justify;">
3. BANK ACCOUNTS</h3>
<div style="text-align: justify;">
</div>
<div style="text-align: justify;">
Another major change in the Income Tax return is to provide Bank Account number of all the Accounts in India whether Saving or Current. This will not include dormant accounts and also exmption has been given in revised forms from showing balance as on year end.</div>
<div style="text-align: justify;">
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgxKZMSXbNRieJ7MmmOW2MPnHCri2Cj2j41Z2fsBTMvJrbPy7wQSfryV97S2Iu8Mqe3-O9ENfN1qtfePnkIUDP8B55WiWMgoeBENKITtkG1CoREqj9JnI4r5eN09xDTlRdtMIG7O5lygZY/s1600/2.+ITR.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Income Tax Return Forms for Ay 2015-2016" border="0" height="332" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgxKZMSXbNRieJ7MmmOW2MPnHCri2Cj2j41Z2fsBTMvJrbPy7wQSfryV97S2Iu8Mqe3-O9ENfN1qtfePnkIUDP8B55WiWMgoeBENKITtkG1CoREqj9JnI4r5eN09xDTlRdtMIG7O5lygZY/s640/2.+ITR.png" title="10 Changes in Income Tax Return Forms for Ay 2015-2016" width="640" /></a></div>
<br /></div>
<h3 style="text-align: justify;">
4. HUF DATE OF FORMATION</h3>
<div style="text-align: justify;">
In ITR 4, date of Formation of HUF is now specifically mentioned. Earlier this date was given in Date of Birth and was not a correct nomenclature but from Assessment year 2015-16 onwards date of formation of HUF is added in Income Tax return Form.</div>
<div style="text-align: justify;">
<br /></div>
<h3 style="text-align: justify;">
5. RETURN FILED UNDER SECTION 119(2) (b)</h3>
<div style="text-align: justify;">
</div>
<div style="text-align: justify;">
As per Section 119(2) (b) </div>
<div style="text-align: justify;">
<i><b>"Board may, if it considers it desirable or expedient so to do for
avoiding genuine hardship in any case or class of cases, by general or
special order, authorise any income-tax authority, not being a
Commissioner (Appeals) to admit an application or claim for any
exemption, deduction, refund or any other relief under this Act after
the expiry of the period specified by or under this Act for making such
application or claim and deal with the same on merits in accordance with
law"</b></i></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
This option has been added in the Form under <b>"RETURN FILED" </b>column, the return would be processed only<i><b> </b></i>after matching it with the relevant order.<br />
<br />
<h3>
6. FOREIGN ASSETS AND INCOME</h3>
New Income Tax Return forms require details of Foreign Assets and Foreign Income to be provided in Income Tax Returns in more detailed manner. Details to be given are:<br />
<ol>
<li>Details of Foreign Bank Accounts (Including Beneficial Interest) at any time in previous year.</li>
<li>Details of Financial Interest in any Entity held (Including Beneficial Interest) at any time in previous year.</li>
<li>Details of Immovable Property held (Including Beneficial Interest) at any time in previous year.</li>
<li>Details of any other capital asset held (Including Beneficial Interest) at any time in previous year.</li>
<li>Details of Account in which you are signing authority (Including Beneficial Interest) at any time in previous year and which is not included in 1 to4</li>
<li>Details of Trust created under laws of a country outside India in which you are a trustee, beneficiary or settlor</li>
<li>Details of any other income derived from any source outside India which is not included in item 1 to 6 and in income from business and profession</li>
</ol>
Further in each point details like Country name, Name, Address, Amount, Date etc. is to be provided.<br />
<br />
<h3>
7. PARTNERSHIP/AOP & BOI</h3>
In ITR 5 details regarding Remuneration paid or payable and Rate of Interest paid to partners are added. Detail of Member admitted and retired, their profit sharing ratio, name and date of admission/retirement is to be also quoted in the Income Tax Returns.<br />
<ol>
</ol>
</div>
<div style="text-align: justify;">
<br />
<h3>
8. AGRICULTURAL INCOME</h3>
In New ITR Forms Income which is exempt from Tax in the nature of Agriculture has to be given in details. Details such as Gross Agricultural Receipt, Expenses Incurred on Agricultural, Unabsorbed Agricultural losses has to be disclosed in Income Tax Return Forms.<br />
<br />
<h3>
9. CAPITAL GAIN</h3>
Section 54 allows investment of under utilized capital gain amount in Capital Gain Scheme. The sum deposited in Capital Gain Scheme is to be utilized within a period of 3 years from the date of the deposit. In case the amount is not utilized the same is taxed as Short Term Capital Gain/Long Term Capital Gain as per relevant section of Income Tax Act. The New Income Tax Return forms requires the disclosure of the amount not utilized in the Capital Gain scheme.<br />
<br />
<h3>
10. SHUFFLING OF SCHEDULES</h3>
The numbering of schedule has been changed. In new ITR forms rows and colums of Tax Payments, TDS and TCS has been given after Verification row and there after Schedules of Income Tax return are given.<br />
<br />
<br />
<span style="color: white;">Income Tax Return Ay 2015-2016, Income Tax Return form Changes in AY 2015-2016, ITR Forms amendment in Assessment Year 2015-16, 10 Changes in Income Tax Return Forms for the Assessment Year 2015-2016</span></div>
<div style="text-align: justify;">
<br /></div>
</div>
Akshay Jainhttp://www.blogger.com/profile/05081848744430384763noreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-81567865347966932652015-08-03T11:03:00.002+05:302015-08-03T11:03:37.131+05:30Allahabad Bank Concurrent Auditor Empanelment for 2015-2016<div dir="ltr" style="text-align: left;" trbidi="on">
<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
Allahabad Bank Invites Application from Chartered Accountants Firms for Empanelment as Concurrent Auditor/Revenue Auditor for the year 2015-2016. The application is to be given in the format prescribed by the Bank and it shall reach the Dy.General Manager, Inspection Deptt, Concurrent Audit Cell, Head office, Fourth Floor, 14, India Exchange Place, Kolkata –700001 only by postal service / courier. The last date for submitting application is <b>18th August 2015.</b></div>
<div style="text-align: justify;">
<b></b></div>
<a name='more'></a><b><br /></b>
<br />
<div style="text-align: justify;">
<b>ELIGIBILITY CRITERIA FOR CHARTERED ACCOUNTANTS FIRMS</b></div>
<div style="text-align: justify;">
<b><br /></b></div>
<div style="text-align: justify;">
a. The firm should be selected from the RBI panel of CA Firms as per the gradation suggested for Statutory Branch Auditor appointment</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
b. The firm should preferably be a partnership firm of Chartered Accountants and should preferably be in existence for more than 5 years.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
c. One of the Auditors (any of the partner or employed CA) should be qualified as Information System Auditors (CISA / DISA) with necessary exposure to the Systems Audit.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
d. Weight age to be given to the firms, where the partners themselves are ex-bankers or the firm has got tie-up with ex-bankers with requisite experience and exposure.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
e. It is to be ensured that the audit firm or any sister / associate concern / network firm is not conducting the Statutory Audit of the Bank or any of its Branches.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
f. Weight age to be given to a firm having exposure in conducting Concurrent Audit of the Bank Branches of a few public sector / major private sector Banks.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
g. The firm should have necessary office set up and adequate personnel to ensure proper deployment and timely completion of the assignments.</div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiE4I-MwEcHTrPJRSXgl5bvjQrdV0lzNc8r3KhIOrBJWLkqjXVrRXOhTYX0xs7c31jb31tw2LZ6nMeJuD1Os_22WI8nGg-hWYDdIlvxAHLS25QvgEErosoo8PchyphenhyphenEAqjNV4ijh23kbkQLxL/s1600/1.+Concurrent+Audit.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Allahabad Bank Audit 2015" border="0" height="330" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiE4I-MwEcHTrPJRSXgl5bvjQrdV0lzNc8r3KhIOrBJWLkqjXVrRXOhTYX0xs7c31jb31tw2LZ6nMeJuD1Os_22WI8nGg-hWYDdIlvxAHLS25QvgEErosoo8PchyphenhyphenEAqjNV4ijh23kbkQLxL/s640/1.+Concurrent+Audit.png" title="Concurrent Audit Allahabad Bank 2015-16" width="640" /></a></div>
<div style="text-align: justify;">
<b><br /></b></div>
<div style="text-align: justify;">
<b>Concurrent Audit Fee Structure :</b></div>
<div style="text-align: justify;">
<br />
<table style="width: 100%;">
<tbody>
<tr>
<td>Service Branches /CPH/HUB/Back Office/HO Dept </td>
<td>7,500</td></tr>
<tr>
<td>Up to Rs.50 Cr with Credit outstanding of Rs.15 Cr & above ;</td>
<td>12,000</td></tr>
<tr><td>Above Rs.50.00 to Rs.100 Cr. </td>
<td>13,000</td></tr>
<tr><td>Above 100 Cr to 150 Cr</td>
<td>14,000</td></tr>
<tr><td>Above 150 Cr to 200 Cr</td>
<td>16,000</td></tr>
<tr><td>Above 200 Cr to 500 Cr</td>
<td>18,000</td></tr>
<tr><td>Above 500 Cr to 1000 Cr</td>
<td>20,000</td></tr>
<tr><td>Above 1000 Cr & FCTM</td>
<td>25,000</td></tr>
</tbody></table>
</div>
</div>
<br />
<b>AREAS TO BE COVERED /EXAMINED BY THE CONCURRENT AUDITORS</b><br />
<br />
<div style="text-align: justify;">
The
concurrent auditors are required to verify / examine and report the deviations
pertaining to all the transactions of the concerned branch broadly covering Cash, Deposit,
Advances, AML , Housekeeping, Bills, Impersonal heads, Remittances, Ancillary Services.
Government Business (if any), Customer service, Complaints, Submission of control
returns, Merchant Banking(if any), Profitability, Computer operations/ Overseas Direct
Investment transactions etc.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Link to Download Application form: <a href="https://www.allahabadbank.in/english/tenderpage.aspx">https://www.allahabadbank.in/english/tenderpage.aspx</a></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: white;">Allahadbad Bank, Allahabad Bank Concurrent Audit, Allahabad Bank Revenue Audit, Allahabad Bank Concurrent Audit 2015-2016, Allahadbad Bank Concurrent Audit 2015-16, Allahabad Bank Chartered Accountant Empanelment.</span></div>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-4455429470194758482015-08-01T11:30:00.000+05:302015-08-01T11:30:50.756+05:30Efiling of ITR 3, ITR 4 and ITR 7 Now Available<div dir="ltr" style="text-align: left;" trbidi="on">
As the last date to Efiling the Income Tax returns for Non Audited as well as Audited Income Tax Returns are coming close, Income Tax Department is in huge pressure to issue the relevant forms and Utility for accepting the returns.Two days ago we have updated our readers with the notification where by which Income Tax Department has notified the new ITR Forms ITR3, ITR 4, ITR5, ITR 6 and ITR 7. To read the full notification click on below mentioned link:<br />
<br />
<div style="text-align: center;">
<a href="http://www.casamachar.com/2015/07/income-tax-ay-2015-2016-itr-3-itr-4-itr.html">Income Tax AY 2015-2016- ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7 notified</a></div>
<a name='more'></a><br />
<br />
The wait is finally over, today Income Tax Department has issued the Java Utility for ITR 3, ITR 4 and ITR 7. The Excel utility is still awaited but Java Utility can be used to file ITR 3,4 and 7. The Efiling of ITR 5 and ITR 6 will be provided by the Income Tax Department shortly.<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgxX5i2v195pWSuq0wCNLU0jeSnkuVfpWEZjURLxkO9Bi5Q21aTc53hR1vGP0JQPSzumBJQlHkflIqQHN7RJ1dqf_f0K3eI0GJKGWN8EtcEec7LcCeZSDbAim8V1P-JXYdVeWpZkYdBC4qZ/s1600/Efiling.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img alt="ITR 4 Efiling has started" border="0" height="394" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgxX5i2v195pWSuq0wCNLU0jeSnkuVfpWEZjURLxkO9Bi5Q21aTc53hR1vGP0JQPSzumBJQlHkflIqQHN7RJ1dqf_f0K3eI0GJKGWN8EtcEec7LcCeZSDbAim8V1P-JXYdVeWpZkYdBC4qZ/s640/Efiling.jpg" title="Efiling ITR 4" width="640" /></a><br />
<br />
The software manufacturer will take 2-3 days more to update their software but those who cannot wait to file their Income Tax Returns can use the Java utility to file the same. To download the Java Utility to Efile the Income Tax Return, visit the following website of Income Tax Efiling:<br />
<br />
<div style="text-align: center;">
<a href="https://incometaxindiaefiling.gov.in/">https://incometaxindiaefiling.gov.in/</a></div>
<div style="text-align: center;">
<br /></div>
<div style="text-align: left;">
<a href="http://www.casamachar.com/">CASAMACHAR.COM</a> wishes happy Efiling of Income Tax Returns for Assessment Year 2015-2016 to all its readers, professionals and Tax Payers.</div>
<div style="text-align: left;">
<br /></div>
<div style="text-align: left;">
<br /></div>
<div style="text-align: left;">
<br /></div>
<div style="text-align: left;">
<br /></div>
<div style="text-align: left;">
<span style="color: white;">Efiling ITR 4, Efiling ITR 4 AY 2015-2016, Efiling ITR 4 Assessment Year 2015-2016, Java Utility ITR 4 for 2015-16, Efiling ITR 3, Efiling ITR 7, NGO Efiling Income Tax Returns 2015-16</span></div>
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br /></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-10799649613524437812015-07-31T11:35:00.000+05:302015-07-31T16:01:05.046+05:30CA-IPCC May 2015 Results Declared (Rankholders and Pass Percentage)<div dir="ltr" style="text-align: left;" trbidi="on">
The Institute of Chartered Accountants of India has today on 31st July 2015 declared the results of CA-IPCC. The examination of different levels of Chartered Accountant Course was held in the month of May 2015 and the results of the CA-Final and CA-CPT was declared earlier this month. To check merit list, pass percentage and results of CA-Final and CA-CPT please click on below mentioned link:<br />
<br />
<br />
<ul style="text-align: left;">
<li><a href="http://www.casamachar.com/2015/07/ca-final-and-cpt-results-mayjune-2015.html">CA Final and CPT Results May/June 2015 Declared (Rankholders and Pass Percentage)</a></li>
</ul>
<div>
<br /></div>
<br />
To check your results please click on below mentioned link of ICAI:<br />
<div>
<br />
<div style="text-align: center;">
<a href="http://www.caresults.nic.in/">http://www.caresults.nic.in/</a></div>
<a name='more'></a></div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhLdv4F20_WqMQkSM95YiDMpogigDx0gWURqhh2EzHfv7GjaDQSkw4FTkplreYOHq3-Fb1XNF8dmHIXCXc1fjOKrvcDJguLSbmkQN30kSUO-T7hZWB7Bj3gpLOozaxoM9_U6z0YlCyY5pRG/s1600/Results+-+IPCC.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="CA IPCC May 2015 Results" border="0" height="330" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhLdv4F20_WqMQkSM95YiDMpogigDx0gWURqhh2EzHfv7GjaDQSkw4FTkplreYOHq3-Fb1XNF8dmHIXCXc1fjOKrvcDJguLSbmkQN30kSUO-T7hZWB7Bj3gpLOozaxoM9_U6z0YlCyY5pRG/s640/Results+-+IPCC.png" title="CA IPCC May 2015 Results" width="640" /></a></div>
<div>
<br /></div>
<br />
<br />
<br />
<br />
The results of CA-IPCC, Pass Percentage and Rank Holders are given below:<br />
<h3 style="text-align: left;">
PASS PERCENTAGE OF CA-IPCC MAY 2015</h3>
<br />
To be Updated soon<br />
Appeared Passed % of pass<br />
First Group 58188 4927 13.63 %<br />
Second Group 129886 17697 13.79 %<br />
Both Group 114655 15816 8.47 %<br />
<br />
<h3 style="text-align: left;">
RANKHOLDERS AND MARKSHEET of CA-IPCC MAY 2015</h3>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiwLB2BFS-KrdKY-tRm5mJNuI71IMstV0xTCpkopmscYy7RVPk45seMmAGPR8A75ba_tS-ZuZc3rIShXMAqWvblJ6N_Dc5ShXLl93P_7rkuhFNRQTYMGdKSkMPn3tocYHJoRdlDWsGc0FY/s1600/Rankholders.png" imageanchor="1"><img alt="IPCC May 2015 Rankholders" border="0" height="584" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiwLB2BFS-KrdKY-tRm5mJNuI71IMstV0xTCpkopmscYy7RVPk45seMmAGPR8A75ba_tS-ZuZc3rIShXMAqWvblJ6N_Dc5ShXLl93P_7rkuhFNRQTYMGdKSkMPn3tocYHJoRdlDWsGc0FY/s640/Rankholders.png" title="Rankholders May 2015 Exams" width="640" /></a></div>
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<a href="http://www.casamachar.com/">CASAMACHAR.COM</a> wish all the students good luck for their future.<br />
<br />
<span style="color: white;">Chartered Accountant, CA, ICAI, CA Results May 2015, CA IPCC Results May 2015, IPCC Results May 2015, Chartered Accountant IPCC Results May 2015, IPCC May 2015 Rankholders, IPCC May 2015 Pass Percentage, CA IPCC Rankholders May 2015, CA IPCC Pass Percentage May 2015.</span></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-39160542201801794242015-07-30T17:01:00.001+05:302015-07-30T17:01:22.941+05:30Income Tax AY 2015-2016- ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7 notified<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
The wait is finally over, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7 has been notified by the Income Tax Department for AY 2015-2016. After waiting for approximately 4 months since the start of the Assessment year, Income Tax has finally given the new ITR forms from ITR 3 on wards.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Income Tax Department has already notified the ITR 1, ITR 2, ITR 2A and ITR 4S earlier this month. To read the News of the same click on below mentioned link:</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<table __gwtcellbasedwidgetimpldispatchingblur="true" __gwtcellbasedwidgetimpldispatchingfocus="true" cellspacing="0" class="PXLWASD-K-y bloggPostTable" style="table-layout: fixed; text-align: justify;"><tbody>
<tr __gwt_row="13" __gwt_subrow="0" class="PXLWASD-K-r PXLWASD-K-i"><td class="PXLWASD-K-a PXLWASD-K-s PXLWASD-K-d PXLWASD-K-j" style="text-align: center;" valign="top"><div __gwt_cell="cell-gwt-uid-2026" style="outline-style: none;">
<input type="checkbox" /></div>
</td><td class="PXLWASD-K-a PXLWASD-K-s PXLWASD-K-j" style="text-align: left;" valign="top"><div __gwt_cell="cell-gwt-uid-2027" style="outline-style: none;">
<a href="http://www.casamachar.com/2015/06/efiling-itr-2-and-itr-2-now-available.html">Efiling ITR-2 and ITR 2-A now Available</a></div>
</td></tr>
</tbody></table>
<table __gwtcellbasedwidgetimpldispatchingblur="true" __gwtcellbasedwidgetimpldispatchingfocus="true" cellspacing="0" class="PXLWASD-K-y bloggPostTable" style="table-layout: fixed; text-align: justify;"><tbody>
<tr __gwt_row="16" __gwt_subrow="0" class="PXLWASD-K-b PXLWASD-K-i"><td class="PXLWASD-K-a PXLWASD-K-c PXLWASD-K-d PXLWASD-K-j" style="text-align: center;" valign="top"><div __gwt_cell="cell-gwt-uid-2026" style="outline-style: none;">
<input type="checkbox" /></div>
</td><td class="PXLWASD-K-a PXLWASD-K-c PXLWASD-K-j" style="text-align: left;" valign="top"><div __gwt_cell="cell-gwt-uid-2027" style="outline-style: none;">
<a href="http://www.casamachar.com/2015/06/efiling-of-income-tax-return-for-ay.html">Efiling of ITR 1 and ITR 4S for AY 2015-2016 now Available</a></div>
</td></tr>
</tbody></table>
<br /><br />The new forms will be available for Efiling shortly, till than the Tax Payers and Professionals can take as overview of the form and prepare themselves and their clients for the same. The full notification regarding the new forms is given below:<a name='more'></a><br /><div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgFhzlpuwibMd1LlGqN-mZHfDLkzbhBg9n9clH2KN0MowFkpX038aOOfGpsIczrTdAKU50-kWZz50JDVb4JTgZVtZ-Vns-RMnpZeIQZJRP1OppCZYS42JNAObJsPPs2_3sJUrlG7zv2Z0Pf/s1600/ITR+4.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="ITR AY 2015-2016" border="0" height="360" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgFhzlpuwibMd1LlGqN-mZHfDLkzbhBg9n9clH2KN0MowFkpX038aOOfGpsIczrTdAKU50-kWZz50JDVb4JTgZVtZ-Vns-RMnpZeIQZJRP1OppCZYS42JNAObJsPPs2_3sJUrlG7zv2Z0Pf/s640/ITR+4.png" title="ITR 4 Notified" width="640" /></a></div>
<div style="text-align: center;">
TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3,</div>
<div style="text-align: center;">
SUB-SECTION (ii)]</div>
<div style="text-align: center;">
GOVERNMENT OF INDIA</div>
<div style="text-align: center;">
MINISTRY OF FINANCE</div>
<div style="text-align: center;">
DEPARTMENT OF REVENUE</div>
<div style="text-align: center;">
[CENTRAL BOARD OF DIRECT TAXES]</div>
<div style="text-align: right;">
Income-tax</div>
<div style="text-align: right;">
NOTIFICATION</div>
<div style="text-align: right;">
New Delhi, the 29th day of July, 2015</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
S.O. 2070 (E).─ In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
1. (1) These rules may be called the Income-tax (Tenth Amendment) Rules, 2015.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
(2) They shall be deemed to have come into force with effect from the 1st day of April,</div>
<div style="text-align: justify;">
2015.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
2. In the Income-tax Rules, 1962, in Appendix-II, for FORM ITR-3, FORM ITR-4, FORM ITR-5, FORM ITR-6 and FORM ITR-7, the following FORMS shall respectively be substituted, namely:-</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: right;">
[Notification No.61/2015, F.No.142/1/2015-TPL]</div>
<div style="text-align: right;">
(Gaurav Kanaujia)</div>
<div style="text-align: right;">
Director to the Government of India</div>
<div style="text-align: right;">
Note.- The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii) vide notification number S.O.969(E), dated the 26th March, 1962 and last amended vide notification number S.O.1683 (E), dated 24.06.2015</div>
<div style="text-align: right;">
<br /></div>
<div style="text-align: right;">
<br /></div>
<div style="text-align: right;">
<span style="color: white;"><br /></span></div>
<div style="text-align: justify;">
<span style="color: white;">Income Tax Return 2015-2016, ITR for AY 2015-2016, ITR 4, ITR 5, ITR 6, ITR 7, ITR 3, AY 2015-2016, Income Tax Return Form 4 for year 2015-2016, ITR 4 for AY 2015-2016, ITR 4 notified by Income Tax Department, ITR 7 for AY 2015-2016, ITR 5 for AY 2015-2016, ITR 6 for AY 2015-2016, ITR 3 for AY-2015-2016</span></div>
<div style="text-align: right;">
<br /></div>
<div style="text-align: right;">
<br /></div>
<div style="text-align: right;">
.</div>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-52556991679827253072015-07-24T14:23:00.000+05:302015-07-28T14:57:06.307+05:30IPCC May 2015 Result Dates<div dir="ltr" style="text-align: left;" trbidi="on">
<table border="0" cellpadding="0" cellspacing="0" class="posting" style="width: 100%;"><tbody>
<tr><td align="left"><span class="Heading_Inner">ICAI has recently notified the result dates for IPCC May 2015 attempt. The CA Final and CPT results was recently issued by the ICAI, to view the Rankholders, Pass Percentage and Results, click on below mentioned link:</span><br />
<div style="text-align: center;">
<span class="Heading_Inner"> <a href="http://www.casamachar.com/2015/07/ca-final-and-cpt-results-mayjune-2015.html">http://www.casamachar.com/2015/07/ca-final-and-cpt-results-mayjune-2015.html</a></span></div>
<div style="text-align: center;">
<br /></div>
<div style="text-align: left;">
Given below is the notification issued by the Institute of Chartered Accountants of India regarding the date of the results:</div>
<span class="Heading_Inner"><br /></span>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgH3llxk1DQVQ8W2VatVIAtGtBwBLzfctQKElthe-QccL91mtwfoiCoUgNMYTKky6s8PisxlqQfOmqvJPfAIIRkKj8FXqo17PbNEV8j2ZDICWkGrc8iULBEJWIrAY36DyJtDppEEPSNxNBC/s1600/IPCC+Results+May+2015.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="IPCC November 2015 Result Date" border="0" height="380" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgH3llxk1DQVQ8W2VatVIAtGtBwBLzfctQKElthe-QccL91mtwfoiCoUgNMYTKky6s8PisxlqQfOmqvJPfAIIRkKj8FXqo17PbNEV8j2ZDICWkGrc8iULBEJWIrAY36DyJtDppEEPSNxNBC/s640/IPCC+Results+May+2015.png" title="CA IPCC Result Date" width="640" /></a></div>
<span class="Heading_Inner"><br /></span>
<span class="Heading_Inner"><br /></span>
<span class="Heading_Inner"><br /></span>
<span class="Heading_Inner"><br /></span>
<span class="Heading_Inner"><br /></span>
<span class="Heading_Inner">The
Result of the Chartered Accountants Intermediate (Integrated
Professional Competence) Examination held in May, 2015 is likely to be
declared on Friday, the 31st July, 2015. - (24-07-2015)</span><br />
<hr />
<a name='more'></a></td></tr>
<tr><td align="left" style="line-height: 20px; text-align: justify;"><table style="width: 100%;">
<tbody>
<tr>
<td align="right">24th July, 2015</td>
</tr>
<tr>
<td align="center"><b>IMPORTANT ANNOUNCEMENT</b></td>
</tr>
<tr>
<td valign="top"><div align="justify">
The result of the Chartered Accountants Intermediate
(Integrated Professional Competence) Examination held in May, 2015 is
likely to be declared on <b>Friday, the 31st July, 2015 around 4.00 P.M.</b>
and the same as well as the merit list (candidates securing a minimum
of 55% and above marks and upto the maximum of 50th Rank on all India
basis will be available on the following website: </div>
</td>
</tr>
<tr>
<td align="center"><a href="http://www.caresults.nic.in/"><b>http://www.caresults.nic.in</b></a></td>
</tr>
<tr>
<td valign="top"><div align="justify">
Arrangements have also been made for the students of
Intermediate (IPC) Examination desirous of having results on their
e-mail addresses to register their requests at the above website, i.e., <a href="http://www.caresults.nic.in/"><b>http://www.caresults.nic.in</b></a> from <b>27th July, 2015</b>.
All those registering their requests will be provided their results
through e-mail on the e-mail addresses registered as above immediately
after the declaration of the result. <br />
<br />
<b>In addition to above, it may be noted that for accessing the result at the above website i.e. <a href="http://www.caresults.nic.in/"><b>http://www.caresults.nic.in</b></a> the candidate shall have to enter his registration no. or PIN no. alongwith his roll number.</b> <br />
<br />
Further facilities have been made for candidates of Intermediate (IPC)
Examination held in May, 2015 desirous of knowing their results with
marks on SMS. The service will be available through India Times. <br />
<br />
<b>For getting results through SMS candidates should type:</b> <br />
<br />
CAINTER(Space)XXXXXX (where XXXXXX is the six digit Intermediate (IPC) Examination roll number of the candidate) <br />
<br />
e.g. CAINTER 302971 and send the message to <br />
<br />
<b>58888 - for all mobile services - India Times </b> </div>
</td>
</tr>
<tr>
<td align="right"><b>(B. MURALIDHARAN)<br />DEPUTY SECRETARY (EXAMS.)</b><br />
<b><br /></b>
<b><br /></b>
<b><br /></b>
<b><br /></b>
<b><br /></b>
<b><br /></b>
<b><br /></b>
<br />
<div style="text-align: left;">
<span style="color: white;">CA IPCC, CA IPCC Results, IPCC Results, IPCC May 2015, IPCC May 2015 results, IPCC May 2015 attempt, IPCC May 2015 Rankholders, CA Inter Results May 2015</span></div>
</td></tr>
</tbody></table>
</td></tr>
</tbody></table>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-30407244241517243282015-07-22T14:54:00.000+05:302015-07-22T14:54:06.097+05:30ICAI Examination Dates for Novermber 2015 Announced<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
Institute of Chartered Accountants has recently announced the Exam Schedule for Novermber 2015 Examination of Chartered Accountant Course. The examination usually happens in the month of May and November 2015. The results for CA Final Examination for May 2015 is already out and of CA IPCC May 2015 is still awaited. To Check CA Final Results, click on below mentioned link:</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: center;">
<a href="http://www.casamachar.com/2015/07/ca-final-and-cpt-results-mayjune-2015.html">http://www.casamachar.com/2015/07/ca-final-and-cpt-results-mayjune-2015.html</a></div>
<div style="text-align: center;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjOotdKTfl1h949vdWwgPFcoZva-mtcgt6Cw2lbNHHaE2d5zX96KFd6IsBScK-bnPrBBX5oZxpiSO7uA5szZW09ytMEmZwCg4ut55BiPgi5gmVrg2-F98MZ5tLJoM1TfyN34FRjH8x65GQD/s1600/November+Date+Sheets.png" imageanchor="1"><img alt="CA Examination November 2015 Dates Announced" border="0" height="380" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjOotdKTfl1h949vdWwgPFcoZva-mtcgt6Cw2lbNHHaE2d5zX96KFd6IsBScK-bnPrBBX5oZxpiSO7uA5szZW09ytMEmZwCg4ut55BiPgi5gmVrg2-F98MZ5tLJoM1TfyN34FRjH8x65GQD/s640/November+Date+Sheets.png" title="CA Final IPCC CPT November 2015 Dates" width="640" /></a></div>
<br />
<div class="separator" style="clear: both; text-align: center;">
</div>
<div style="text-align: justify;">
</div>
<a name='more'></a><br /><br />
<div style="text-align: justify;">
<br /></div>
<h3 style="text-align: justify;">
CA EXAMINATION DATES NOVEMBER 2015</h3>
<div style="text-align: justify;">
<b>CPT EXAMINATION NOVEMBER 2015 DATES: </b></div>
<div style="text-align: justify;">
<br /></div>
<div>
<div style="text-align: justify;">
First Session 10.30 AM to 12.30 PM (IST)</div>
<div style="text-align: justify;">
(i.e. Morning Session) Section - A Fundamentals of Accounting</div>
<div style="text-align: justify;">
Section - B Mercantile Laws</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Second Session 2.00 PM to 4.00 PM (IST)</div>
<div style="text-align: justify;">
(i.e. Afternoon Session) Section - C General Economics</div>
<div style="text-align: justify;">
Section - D Quantitative Aptitude</div>
<div style="text-align: justify;">
</div>
<div style="text-align: justify;">
<br /></div>
</div>
<div>
<div style="text-align: justify;">
<b>INTERMEDIATE (IPC) EXAMINATION NOVEMBER 2015 DATES- </b></div>
<div style="text-align: justify;">
(Afternoon Session: 2.00 PM to 5.00 PM) (IST)</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Group-I: 2nd, 4th, 6th & 8th November 2015</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Group-II: 10th, 13th & 15th November 2015</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>FINAL EXAMINATION NOVEMBER 2015 DATES</b>- </div>
<div style="text-align: justify;">
(Afternoon Session: 2.00 PM to 5.00 PM) (IST)</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Group -I: 1st, 3rd, 5th & 7th November 2015</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Group -II: 9th, 12th, 14th & 16th November 2015</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>MANAGEMENT ACCOUNTANCY COURSE (MAC) PART - I, CORPORATE MANAGEMENT COURSE (CMC) PART – I, TAX MANAGEMENT COURSE (TMC) PART – I EXAMINATIONS</b></div>
<div style="text-align: justify;">
(Afternoon Session: 2.00 PM to 5.00 PM) (IST)</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Group-I: 9th & 12th November 2015</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Group-II: 14th & 16th November 2015</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>INSURANCE AND RISK MANAGEMENT (IRM) EXAMINATION</b></div>
<div style="text-align: justify;">
(Afternoon Session: 2.00 PM to 5.00 PM) (IST)</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Modules I to IV 9th, 12th, 14th & 16th November 2015</div>
<div style="text-align: justify;">
<br /></div>
</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>FEES AND OTHER DETAILS</b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Payment of fees for the examinations should be made by Demand Draft only. The Demand Drafts</div>
<div style="text-align: justify;">
may be of any Scheduled Bank and should be drawn in favour of The Secretary, The Institute of</div>
<div style="text-align: justify;">
Chartered Accountants of India, payable at New Delhi only. Applications for admission to Intermediate (IPC) and Final examinations are required to be made either online at http://icaiexam.icai.org free of cost (i.e. ` 1000/- for Intermediate (IPC) & Final candidates for the cost of application form shall not be charged if applications are filled in online) or in the relevant prescribed form, copies of which may be obtained from the Deputy Secretary (Examinations), The Institute of Chartered Accountants of India, ‘ICAI BHAWAN’, Indraprastha Marg, New Delhi – 110002 on payment of ` 1000/- per application form in respect of Intermediate (IPC) and Final Examination candidates, </div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The fees payable for the various examinations are as under:</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
INTERMEDIATE (IPC)</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
For Both the Groups / Unit - 9 ` 1900/-</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
For one of the Groups / Unit 1 to 8 ` 1200/-</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
FINAL EXAMINATION</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
For Both the Groups ` 2700/-</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
For one of the Groups ` 1500/-</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>OPTION TO ANSWER PAPERS IN HINDI:</b></div>
<div style="text-align: justify;">
<b><br /></b></div>
<div style="text-align: justify;">
Candidates of Intermediate (IPC) and Final Examinations will be allowed to opt for Hindi medium</div>
<div style="text-align: justify;">
for answering papers. Detailed information will be found printed in the Information Sheets attached to</div>
<div style="text-align: justify;">
the relevant application form. </div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>FEES AND OTHER DETAILS CPT</b></div>
<div style="text-align: justify;">
<b><br /></b></div>
<div style="text-align: justify;">
Applications for admission to Common Proficiency Test is required to be made in the relevant prescribed form as contained in the Information Brochure, which may be obtained from the Deputy Secretary (Examinations), The Institute of Chartered Accountants of India, ICAI Bhawan, Indraprastha Marg, New Delhi – 110002 on payment of ` 1500/- (` 500/- towards examination fee and</div>
<div style="text-align: justify;">
Rs, 1000/- towards cost of application form and Information brochure) per application form. The fee for candidates opting for Abu Dhabi and Dubai, centres will be US $170 (US $ 150 towards examination fee and US $ 20 towards cost of application form and information brochure) or its equivalent Indian Currency.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The fee for the candidates opting for Kathmandu centre are required to remit INR.1850/-(INR 850/- towards examination fee and INR 1000/- towards the cost of application form and information brochure) or its equivalent foreign Currency. Since the cost of Information brochure containing Common Proficiency Test application form includes the examination fee, no separate fee is required to be remitted at the time of submitting the filled in application form. The Information brochure containing Common Proficiency Test application form will also be available in the Regional and Branch Offices of the Institute and can be obtained there from on cash payment on or from 6th October, 2015.</div>
<div style="text-align: justify;">
Common Proficiency Test application forms duly filled in may be sent so as to reach the Deputy Secretary (Examinations) at New Delhi not later than 27th October, 2015. Applications received after 27th October, 2015 shall not be entertained under any circumstances. Applications duly filled in will be received by hand delivery at the office of Institute at New Delhi and at the Decentralised Offices of the Institute at Mumbai, Chennai, Kolkata, Kanpur, Delhi, Ahmedabad, Bengaluru, Ernakulam, Hyderabad, Indore, Jaipur, Nagpur, Pune, Surat, Thane and Vadodara upto 27th October, 2015. Candidates residing in these cities are advised to take advantage of this facility. It may be noted that there is no provision for acceptance of application forms after 27th October, 2015 with late fee.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The candidates who fill up the examination application form online at http://icaiexam.icai.org from 6th October, 2015 (10.00 hrs) to 27th October, 2015 (17.30 hrs) and remit the fee online by using either VISA or MASTER Credit / Debit Card shall not be charged ` 1000/- (i.e. cost of application form fee). The aforesaid Common Proficiency Test (CPT) is open only to students registered with the Institute of Chartered Accountants of India for the Common Proficiency Course on or before 1st October, 2015 and fulfill the requisite eligibility conditions.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>QUESTION PAPER BOOKLET LANGUAGE:</b></div>
<div style="text-align: justify;">
<b><br /></b></div>
<div style="text-align: justify;">
Common Proficiency Test is an objective type multiple choice questions based examination.</div>
<div style="text-align: justify;">
Candidates will be allowed to opt for Hindi medium Question Paper</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: white;">ICAI Novermber 2015, ICAI Novermber 2015 Exams, IPCC November 2015 Examination Dates, CA Final November 2015 Examination Dates, CA Exams November Dates, Chartered Accountants Novermber 2015 Exam Schedule</span></div>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-10480619403511622862015-07-22T10:59:00.000+05:302015-07-28T15:52:36.799+05:30Bank Audit MEF Hosted by ICAI For 2015-2016<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
As the First quarter of the Financial year 2015-2016 has just completed, Institute of Chartered Accountants of India has started accepting forms from Eligible Chartered Accountant Firms for Audit of Bank Branches all over India. ICAI prepares a list of Eligible Chartered Accountant firms and this list is forwarded to RBI, which in turn forwards it to Public Sector Banks for Selection. This Multi Purpose Empanlment Forms are also used by RRBs and Co-operative Banks to Select their Auditor.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The Form can be filed from the following link: <a href="http://meficai.org/">http://meficai.org/ </a></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
</div>
<a name='more'></a><br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgPJREwJl8dxuo6ZzHOMIoOiAuB8Xpcv0-5OUCxwpjXiLEIwRH8k4ahtgZRTCXzwxbzmoYt1OJM7L1ojI4jo7JKYuBYhDrvru-B-ANxvkna6tAX6C084cxm65me3nG55BlkBbXA32EXN4E/s1600/MEF+ICAI.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Multi Purpose Empanelment Form 2015" border="0" height="280" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgPJREwJl8dxuo6ZzHOMIoOiAuB8Xpcv0-5OUCxwpjXiLEIwRH8k4ahtgZRTCXzwxbzmoYt1OJM7L1ojI4jo7JKYuBYhDrvru-B-ANxvkna6tAX6C084cxm65me3nG55BlkBbXA32EXN4E/s640/MEF+ICAI.png" title="MEF ICAI 2015-2016" width="640" /></a></div>
<br />
<h4 style="text-align: justify;">
ELGIBILITY NORMS FOR SELECTION OF CENTRAL STATUTORY AUDITOR AND BRANCH AUDITOR FOR YEAR 2015-2016 IS GIVEN BELOW:</h4>
<div style="text-align: center;">
CLARIFICATION AS REGARDS THE MEANING OF THE TERM 'AUDIT STAFF' ISSUED BY RBI<br />
<br />
<div style="text-align: justify;">
The Reserve Bank of India has accepted the
recommendations of the Working Group constituted by RBI for revision of
norms for empanelment of audit firms for being considered for
appointment as statutory auditors of public sector banks/select all
India Financial Institutions and RBI with certain minor changes. The
contents of letter No. DBS.ARS.No.393/08.91.008/2003-04 dated 8th
December, 2003 received from Shri R.M. Thakkar, General Manger, Reserve
Bank of India, regarding implementation of revised empanelment norms for
appointment of statutory auditors (both central and branch) of public
sector banks, select all India Financial Institutions and RBI is
reproduced hereunder :</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>Implementation of revised
empanelment norms for appointment of statutory auditors of public sector
banks, select all India financial institutions and RBI.</b> </div>
</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
1. As you are aware, the recommendations of the Working
Group constituted by RBI with members from RBI, MOF, C&AG, IBA, ICAI
and select public sector banks for revision of norms for empanelment of
audit firms for being considered for appointment as statutory auditors
of public sector banks/select all India Financial Institutions and RBI
have been accepted by the RBI with certain minor changes.<br />
<br />
2. It has been decided to implement these recommendations
with effect from the year 2004-05. Details of revised empanelment norms
for being considered for appointment of statutory central auditors in
public sector banks/select all India Financial Institutions and RBI, are
given in Annexure I. Revised norms for categorization of audit firms
for their empanelment as statutory branch auditors and nature of
branches of 27 Public Sector Banks for which they are eligible are also
furnished in the said Annexure.<br />
<br />
3. With a view to ensuring continuity in statutory central
audit of PSBs, select all India Financial Institutions and RBI, without
any hindrance, it has been decided that the audit firms which have not
completed their four years' term as statutory central auditor by 2003-04
will be required to comply with the existing empanelment norms. In
other words they will be exempted from complying with the revised norms
till they complete their prescribed term of 4 years. Other important
recommendations which will be implemented from 2004-05 are given in the
Annexure II.<br />
<br />
4. As indicated at item No. 7 in Annexure II it has been
decided that branch auditors panel (Part A and B) for PSBs will now be
prepared once in two years from the year 2004-05 and onwards. It will be
the base panel which will be continued for 2005-06 also. The audit
firms would require to advise public sector banks about change in the
constitution of the firm, if any, on yearly basis. <br />
<br />
5. We shall be glad if you will please arrange to take
necessary steps so as to inform your members about the above changes
that are being effected from 2004-05.<br />
<br />
6. The branch audit panel for the year 2004-05 prepared in accordance with the revised norms may be forwarded to us well on time.<br />
<br />
7. Please acknowledge receipt.<br />
<br />
<b>Annexure I</b><br />
<br />
<b>I Revised empanelment norms for appointment of statutory central auditors of PSBs, select all India Financial Institutions and RBI.</b><br />
<br />
<br />
<ol type="1">
<li>For the purpose of empanelment of statutory central auditors for 27 PSBs, select all India Financial Institutions and RBI following norms will come in force from the year 2004-05 (existing norms will continue to apply to those audit firms which have not completed their four year terms with the respective PSBs, select all India Financial Institutions or RBI). <br /><b>As on 1 January of the relative year </b>
<ol type="i">
<li>the firm should have minimum 7 full time Chartered Accountants, of which at least 5 should be full time partners exclusively associated with the firm. These partners should have minimum continuous association with the firm i.e. one each should have continuous association with the firm at least for 15 years and 10 years, two with a minimum of 5 years each and one with a minimum of one year. Four of the partners should be FCAs. Also at least two of the partners should have minimum 15 and 10 years experience in practice. In case the paid Chartered Accountant available with the firm without any break was admitted as a partner of the said firm at a future date, his association with the firm as a partner will be counted from the date of his joining the firm as a paid Chartered Accountant.
</li>
<li>the number of professional staff (excluding typists,
stenographers, computer operators, secretary/ies and sub-ordinate staff
etc.), consisting of audit and articled clerks with the knowledge in
book-keeping and accountancy and are engaged in outdoor audit should be
18.
</li>
<li>the standing of the firm should be of at least 15 years which
would be reckoned from the date of its constitution and availability of
one full time FCA continuously with the firm.
</li>
<li>the firm should have minimum statutory central audit experience of 15 years of a public sector bank (before or after nationalization) and/or by way of statutory branch audit thereof or that of statutory audit experience of a private sector bank with deposits resources of not less than Rs.500 crore. In case any of the partner of an audit firm is nominated/elected for a period of atleast 3 years or more on the Board of any public sector bank then his/her such experience for a maximum period of three years will be considered as bank audit experience, provided such experience has not been earned by him/her concurrently i.e. when his/her firm was assigned statutory audit of any PSBs, select all India Financial Institutions or RBI.
</li>
<li>the firm should have statutory audit experience of 5 years of the public sector undertakings (either Central or State Government undertaking). While calculating such experience, more than one assignment given to a firm during a particular year or more than one year's statutory audit (audits in arrears) assigned to the firm will be reckoned, as one year experience only, for the purpose of counting such experience.
</li>
<li>atleast one partner of the firm or its paid Chartered Accountant must possess CISA/ISA or any other equivalent qualification </li>
</ol>
</li>
</ol>
<b>II (a).</b> <b>Revised norms for categorization of
audit firms for their empanelment as branch auditors for public sector
banks and branch allocation to different categories of audit firms.</b> <br />
<br />
<hr />
<table align="center" border="0" cellpadding="0" cellspacing="0" class="new_win_text" style="width: 96%px;"><tbody>
<tr>
<td colspan="2"></td></tr>
<tr><td colspan="2" valign="top"></td></tr>
<tr><td colspan="2" valign="top"></td></tr>
<tr><td valign="top"></td><td valign="top"></td></tr>
<tr><td valign="top"></td><td valign="top"><br /></td></tr>
<tr><td valign="top"><table border="0" cellpadding="2" cellspacing="1" class="text" style="width: 100%px;"><tbody>
<tr><td class="column_row_format_tab_hd" valign="top" width="7%">Category</td><td class="column_row_format_tab_hd" valign="top" width="28%">No. of CAs exclusively associated with the firm (full-time)</td><td class="column_row_format_tab_hd" valign="top" width="21%">No. of partners exclusively associated with the firm (full time) (Out of 2)</td><td class="column_row_format_tab_hd" valign="top" width="12%">Professional staff</td><td class="column_row_format_tab_hd" valign="top" width="23%">Bank audit experience</td><td class="column_row_format_tab_hd" valign="top" width="9%">Standing of the audit firm</td></tr>
<tr><td align="center" valign="top">(1)</td><td align="center" valign="top">(2)</td><td align="center" valign="top">(3)</td><td align="center" valign="top">(4)</td><td align="center" valign="top">(5)</td><td align="center" valign="top">(6)</td></tr>
<tr class="column_row_format1"><td valign="top">I.</td><td valign="top">5</td><td valign="top">3</td><td valign="top">8</td><td valign="top">The firm or at least one of the partners should have a
minimum of 8 years experience of branch audit of a nationalized bank
and/or of a private sector bank with deposits of not less than Rs.500
crore.</td><td valign="top">8 years</td></tr>
<tr class="column_row_format2"><td valign="top">II.</td><td valign="top">3</td><td valign="top">2</td><td valign="top">6</td><td valign="top">The firm or at least one of the partners should have
preferably conducted branch audit of nationalized bank or of a private
sector bank with deposits not less than Rs.500 crore for at least 5
years.</td><td valign="top">6 years (for the firm or at least one partner)</td></tr>
<tr class="column_row_format1"><td valign="top">III.</td><td valign="top">2</td><td valign="top">1</td><td valign="top">4</td><td valign="top">The firm or at least one of the CAs should have
preferably conducted branch audit of a nationalized bank or of a private
sector bank with deposits not less than Rs.500 crore for at least 3
years.</td><td valign="top">5 years (for the firm or at least one partner)</td></tr>
<tr class="column_row_format2"><td valign="top">IV.</td><td valign="top">2 2<br />
Even proprietorship concern without bank audit
experience may be considered as hitherto. (The proprietary concerns of
Chartered Accountants with 1 paid CA, 2 professional staff and not
having any statutory branch audit experience of a nationalized bank or
of a private sector bank with deposits not less than Rs.500 crore will
be treated at par with the partnership firm after deducting their 3
years seniority from the date of their establishment). </td><td valign="top"><br /></td><td valign="top">2</td><td valign="top">Not necessary</td><td valign="top">3 years</td></tr>
</tbody></table>
<b>II (b). Criteria fixed for allocation of
branches of PSBs for the purpose of statutory branch audit among
different categories of audit firms.</b><br />
<b> </b> <br />
Category Branches, to the extent possible, to be allotted<br />
Part 'C' Branches with an outstanding advances of Rs.50 crore and above.<br />
<br />
I Branches with an outstanding advances of Rs.10 crore and above<br />
.<br />
II - Branches with an outstanding advances of more than Rs.150 lakh but less than Rs.10 crore and not located at rural centres.<br />
<br />
<b><b> </b></b><br />
III & IV -<b><b> </b></b>Branches with an outstanding advances of less than
Rs.150 lakh or those located at rural centres irrespective of the
quantum of advances.<br />
<br />
<b><b>Annexure II</b></b><br />
<br />
<b>Other important recommendation of the working group which will be implemented from RBI from the year 2004-05. </b><br />
<br />
<b> </b>1. For determining inter-se seniority of experienced as well as new audit firms a detailed marking system has been introduced.<br />
<br />
2. Experience of statutory central audit of Jammu &
Kashmir Bank Ltd. will be reckoned as public sector bank audit
experience (and not that of public sector undertaking as has been
reckoned presently) with effect from the year 2003-04 subject to certain
conditions.<br />
<br />
3. For each public sector bank a team of 4, 5 or 6 audit
firms will be appointed as Statutory Central Auditors (SCAs) depending
on their assets and liabilities of previous year (audited figures) i.e.
upto Rs.50,000 crore, above Rs.50,000 crore and upto Rs.1 lakh crore and
above Rs.1 lakh crore respectively. In case of SBI the present practice
of appointing one audit firm for each of its 14 circles will continue.
There will be no change in the number of audit firms that are presently
allotted to IDBI, NABARD, EXIM Bank, NHB, SIDBI and RBI.<br />
<br />
4. With a view to help preparing second line of defense as
also infusing young blood in bank audit with effect from 2004-05 and
onwards, the available vacancies of SCAs will be filled in, in the ratio
of 8:2 instead of 9:1 as is being done presently. This ratio will be
subject to revision after 3 years by RBI in the light of experience
gained.<br />
<br />
5. The system of giving preference to experienced
unallotted audit firms carried over from the previous year will be
discontinued effective from the year 2004-05 and they will now be ranked
along with the other experienced firms becoming eligible during the
year subject to usual norms.<br />
<br />
6. The policy of rotation and resting for statutory branch
auditors which is presently applicable to 17 centres viz., Mumbai,
Kolapur, Pune, Solapur, Thane, Kolkata, Chennai, Coimbatore, Delhi/New
Delhi, Ajmer, Bikaner, Jaipur, Kota, Udaipur, Ahmedabad, Vadodara, and
Surat has been continued and other 16 centres viz. Hyderabad,
Chandigarh, Raipur, Faridabad, Gurgaon, Panchkula, Panipat, Sonipat,
Bangalore, Ernakulam, Indore, Nagpur, Ludhiana, Jodhpur, Bhilwara and
Ghaziabad have been included in the list of resting centres thereby
raising the total of such centres to 33 effective from 2004-05.<br />
<br />
7. Effective from 2004-05, a panel of statutory branch
auditors (Part A and B) will be prepared by the ICAI and RBI once in two
years, instead of annually, as is being done now.<br />
<br />
<br />
<span style="color: white;"><br /></span>
<span style="color: white;">MEF ICAI, MEF 2015, MEF 2015-2016, MEF 2014-2015,
Multi Purpose Empanelment Form, Multi Purpose Empanelment Form 2015.
Bank Audit Empanelment, Bank Audit Empanelment 2015-2016, RBI list of
Chartered Accountants Empaneled for Bank Statutory Audit</span></td></tr>
</tbody></table>
</div>
</div>
Akshay Jainhttp://www.blogger.com/profile/05081848744430384763noreply@blogger.com1tag:blogger.com,1999:blog-8061766548912654285.post-68902660662443468632015-07-16T11:47:00.003+05:302015-07-16T17:30:24.711+05:30CA Final and CPT Results May/June 2015 Declared (Rankholders and Pass Percentage)<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="separator" style="clear: both; text-align: center;">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiizgjlJ15M0MAZfMRD20znI8oalYkRCxglQ4LxI9mFDqDV2O9xkrLM7gmCvxkH65XzAywwuxaBM5Zib_I_Q7TGOIQ9qbJTEk3kxFpwDK6RKnmWxP8aNn7ojFbKsgekN9ywBwCnM4DOL0s/s1600/ICAi+Results.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="ICAI Results" border="0" height="310" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiizgjlJ15M0MAZfMRD20znI8oalYkRCxglQ4LxI9mFDqDV2O9xkrLM7gmCvxkH65XzAywwuxaBM5Zib_I_Q7TGOIQ9qbJTEk3kxFpwDK6RKnmWxP8aNn7ojFbKsgekN9ywBwCnM4DOL0s/s640/ICAi+Results.png" title="CA Final and CPT June 2015 Results" width="640" /></a></div>
ICAI today on 16th July, 2015 has issued the CA Final May 2015 and CPT June 2015 Results. The Results can be seen on ICAI website:<br />
<br />
<div style="text-align: center;">
<a href="http://www.caresults.nic.in/">www.caresults.nic.in</a></div>
<div style="text-align: center;">
<br /></div>
<div style="text-align: left;">
<br /></div>
<div style="text-align: left;">
CASAMCAHAR.COM Congratulates all the students appearing in CA Final May 2015 and CPT June 2015 for clearing their exams. CA Final MAY 2015 Results and CPT June 2015 Results, merit list and Pass percentage are given below:</div>
<a name='more'></a><br />
<div style="text-align: left;">
<br /></div>
<div style="text-align: left;">
<br /></div>
<h3 style="text-align: left;">
CA FINAL MAY 2015 PASS PERCENTAGE</h3>
<div style="text-align: left;">
Group I 11.41%<br />
Group II 16.54%<br />
Both Group 8.26%</div>
<div style="text-align: left;">
<br /></div>
<h3 style="text-align: left;">
CA CPT JUNE 2015 PASS PERCENTAGE</h3>
<div style="text-align: left;">
<br /></div>
<div style="text-align: left;">
CPT- 25.30% </div>
<div style="text-align: left;">
<br /></div>
<h3 style="text-align: left;">
CA FINAL MAY 2015 RANKHOLDERS</h3>
<div style="text-align: left;">
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgkdJpVzVCaJs-M1I8MgxI8r1r1XR28T2vmfCV9Qv3L9Im4yIdzMiNYzZHWLVMxrUIFe7Ad6oUKxk8dGgT6XjQ0Fq-mXgYJbNzuUVpbtdI1wTdNk2ZAIDoiMdvm6EH10yOSUqKUlM0Zs-Q/s1600/CA+Results.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="CA Rankholders 2015" border="0" height="268" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgkdJpVzVCaJs-M1I8MgxI8r1r1XR28T2vmfCV9Qv3L9Im4yIdzMiNYzZHWLVMxrUIFe7Ad6oUKxk8dGgT6XjQ0Fq-mXgYJbNzuUVpbtdI1wTdNk2ZAIDoiMdvm6EH10yOSUqKUlM0Zs-Q/s640/CA+Results.jpg" title="CA Final May 2015 Rankholders" width="640" /></a></div>
<br /></div>
<div style="text-align: left;">
<br /></div>
<div style="text-align: left;">
<br /></div>
<h3 style="text-align: left;">
CA CPT JUNE 2015 RANKHOLDERS</h3>
<div style="text-align: left;">
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjP6XgQqTi8arH2UyKLQC_OF90yT4MYUHPh65Qo7bLZWTfM4PocOgAPUPUNDhTxUsmyZgYshQI507hK4DGl9UHDptuxVopQFkPMjcgE-t9cfz0seT_gLWzczSolaCITAnfb8fAtLxrK90I/s1600/CPT.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="CA CPT Rankholder" border="0" height="252" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjP6XgQqTi8arH2UyKLQC_OF90yT4MYUHPh65Qo7bLZWTfM4PocOgAPUPUNDhTxUsmyZgYshQI507hK4DGl9UHDptuxVopQFkPMjcgE-t9cfz0seT_gLWzczSolaCITAnfb8fAtLxrK90I/s640/CPT.png" title="CA CPT June 2015 Rankholders" width="640" /></a></div>
<br /></div>
</div>
Akshay Jainhttp://www.blogger.com/profile/05081848744430384763noreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-81110110125060117052015-07-15T16:48:00.001+05:302015-07-15T18:47:28.860+05:30Steps to Link Income Tax Efiling with Adhaar for E-Verification of Return<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
As we all are aware that from this year onwards E-Verification of Return has been started by the Income Tax Department which will enable ITR V free Income Tax Return Filing. This will help in Efiling Income Tax Return without sending the ITR V to CPC Bangalore. Income Tax Department has started EVC filing and has also laid down the steps to be followed by an assessee to file ITR V free Income Tax Returns.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Below are the three ways through which the Income Tax Return can be filed:</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
1 e-Verification while uploading a return (Non -NetBanking) </div>
<div style="text-align: justify;">
2 e-Verification of an already uploaded return (Non -NetBanking)</div>
<div style="text-align: justify;">
3 e-Verification while uploading a return through NetBanking Login </div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<br />
<a name='more'></a><br /></div>
<h3 style="text-align: justify;">
1 E-VERIFICATION WHILE UPLOADING A RETURN (NON -NET BANKING) </h3>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
1 Upload Return-------Click Submit<br />
<br />
2 The Return is uploaded (Pending for e-Verification)<br />
<br />
3 Four e-Verification options provided – Taxpayer can choose any one of the options provided to e-Verify the return.<br />
<br />
Option-1 “I already have an EVC and I would like to Submit EVC”<br />
Option-2 “I do not have an EVC and I would like to generate an EVC”<br />
Option-3 “I would like to generate Aadhaar OTP to e-Verify my return”<br />
Option-4 “I would like to e-Verify later/ I would like to send ITR-V”<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjS7zRxJ9_6ju9KeH7qw-0qFstzQIShAc6L-E4w0u7khRN31jvjTlq90YhqK2WXj2XeUsVX_14h1LqbYA8k2xli9AIuTX8U7NfxyjMlNzWRbirR1f0a3M64rn2sXFgBIkEn4mNq6r7EX-o/s1600/EVC.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Electronic Verification of Return" border="0" height="286" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjS7zRxJ9_6ju9KeH7qw-0qFstzQIShAc6L-E4w0u7khRN31jvjTlq90YhqK2WXj2XeUsVX_14h1LqbYA8k2xli9AIuTX8U7NfxyjMlNzWRbirR1f0a3M64rn2sXFgBIkEn4mNq6r7EX-o/s640/EVC.jpg" title="EVC Methods Income Tax" width="640" /></a></div>
<br />
<b>Option 1 – “I already have an EVC and I would like to Submit EVC”</b><br />
<br />
Step 1: Provide the EVC in the text box Click Submit.<br />
<br />
Step 2: Download the Acknowledgement (No Further action required).<br />
<br />
<b>Option 2 – “I do not have an EVC and I would like to generate an EVC”</b><br />
<br />
Two options are provided – Taxpayer can choose any one of the options if they do not have an EVC<br />
<br />
i. Generate EVC through NetBanking.<br />
<br />
ii. Generate EVC to registered Email Id and Mobile Number.<br />
<br />
i. Generate EVC through NetBanking:<br />
<br />
Step 1: Login to e-Filing Portal through NetBanking.<br />
<br />
Step 2: Click on e-Verify return.<br />
<br />
ii. Generate EVC to registered Email Id and Mobile Number:<br />
<br />
Step 1: Enter the EVC sent to your registered Email Id / Mobile Number and<br />
Submit to e-Verify return.<br />
<br />
Step 2: Download the Acknowledgement (No Further action required).<br />
<br />
<b>Option 3 – “I would like to generate Aadhaar OTP to e-Verify my return”</b><br />
<br />
Pre-requisite: Taxpayer’s PAN and Aadhaar should be linked. If Aadhaar is not linked, click on Link Aadhaar button and link the Aadhaar.<br />
<br />
Step 1: Enter the Aadhaar OTP sent to your Mobile Number registered with<br />
Aadhaar and Submit to e-Verify return.<br />
<br />
Step 2: Download the Acknowledgement (No Further action required).<br />
<br />
<b>Option 4 – “I would like to e-Verify later/ I would like to send ITR-V”</b><br />
<br />
Step 1: Click on Continue Download ITR-V<br />
<br />
Step 2: Submit ITR-V to CPC, Bangalore.<br />
<br />
<br />
<h3>
2 E-VERIFICATION OF AN ALREADY UPLOADED RETURN (NON -NETBANKING)</h3>
<br />
1 Click e-Verify Return under e-file.<br />
<br />
2 Uploaded returns (120 Days) which are yet to be e-Verified are displayed in a table.<br />
<br />
3 Click on e-Verify (for the return already uploaded)<br />
<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjDacMDlp6KLX0-Ec8GuOvD5jPKzWr0od9TSDG551FDqOe7NTZCeFPYnVcKhSkuM86lAKfASWtErW7JXKYV92rDnKJ-llFFVMF6HGT-_aE6B07vGyUm6NEJsP9YHY3HWmFK-b86AFEPcUY/s1600/EVC.png" style="margin-left: 1em; margin-right: 1em;"><img alt="Income Tax" border="0" height="256" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjDacMDlp6KLX0-Ec8GuOvD5jPKzWr0od9TSDG551FDqOe7NTZCeFPYnVcKhSkuM86lAKfASWtErW7JXKYV92rDnKJ-llFFVMF6HGT-_aE6B07vGyUm6NEJsP9YHY3HWmFK-b86AFEPcUY/s640/EVC.png" title="E-Verification of Income Tax Return" width="640" /></a><br />
4 Three e-Verification options provided – Taxpayer can choose any one of the options provided to e-Verify the return.<br />
<br />
Option-1 “I already have an EVC and I would like to Submit EVC”<br />
Option-2 “I do not have an EVC and I would like to generate an EVC”<br />
Option-3“I would like to generate Aadhaar OTP to e-Verify my return”<br />
<div style="text-align: justify;">
Now Follow Steps Given In Main Point 1 above.</div>
<br />
<br />
<h3>
3 E-VERIFICATION WHILE UPLOADING A RETURN THROUGH NETBANKING LOGIN</h3>
<h3>
</h3>
1 Login to e-Filing through NetBanking<br />
2 Upload Return------Click Submit<br />
3 The Return is uploaded (Pending for e-Verification)<br />
4 Three e-Verification options provided – Taxpayer can choose any one of the<br />
options provided to e-Verify the return.<br />
<br />
Option-1 “I would like to e-Verify my return now”<br />
Option-2 “I would like to generate Aadhaar OTP to e-Verify my return”<br />
Option-3 “I would like to e-Verify later/ I would like to send ITR-V”</div>
<div style="text-align: justify;">
Now Follow Steps Given In Main Point 1 above.</div>
<div style="text-align: justify;">
<br /></div>
</div>
Akshay Jainhttp://www.blogger.com/profile/05081848744430384763noreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-8940140082405081612015-07-09T11:16:00.000+05:302015-07-09T11:21:23.440+05:30Digitally Signing of Invoices Service Tax and Excise<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
<span style="font-family: Times,"Times New Roman",serif;"><span lang="EN-US" style="color: black; font-size: small;">In today's era of digitization, more and more Small and Medium Enterprises are moving Online. There are more use of Computers, internet, ERP Softwares, Online Billing etc. than it was before. Businessmen are using all sorts of new technologies which will save their time and efforts, one of such technology is of Online Invoice printing and signing. Many of the software provider are providing these facilities and it saves a lot of time especially of those enterprises where there are more than hundreds of billing everyday. Use of Digital signature is gaining a lot of popularity and as the people are getting educated about the advantages of the system, they are getting inclined towards it.</span></span></div>
<div style="text-align: justify;">
<span style="font-family: Times,"Times New Roman",serif;"><span lang="EN-US" style="color: black; font-size: small;"><br /></span><span style="font-size: small;">
<span lang="EN-US" style="color: black;"> Digital signature certificates comes in 3 classes i.e. Class I, Class II and Class III. The Information Technology Act has made the DSC signing at par with manual signing. Income Tax, Sales Tax, Company Law, all are making Digital Signing mandatory and so the Central Board of Excise and customs.</span> Central Board of Excise and Customs with its latest Notification No. <b><span lang="EN-US" style="color: black;">No. 18/2015-Central
Excise (N.T.) </span></b><span lang="EN-US" style="color: black;">has
issued procedure and safeguards to be followed if the Tax payer wants
to issue invoices in Digital form with Digital Signature.</span></span></span></div>
<div style="text-align: justify;">
<span style="font-family: Times,"Times New Roman",serif;"><span style="font-size: small;"><br /></span></span></div>
<div style="text-align: justify;">
<span style="font-family: Times,"Times New Roman",serif;"><span lang="EN-US" style="color: black; font-size: small;">Now a Taxpayer can Digitally sign the Invoices issued to there clients and customers. The salient features and procedure for getting the assesse power of Digital Signing is given below:</span></span></div>
<a name='more'></a><br />
<div style="text-align: justify;">
<span style="font-family: Times,"Times New Roman",serif;"><span lang="EN-US" style="color: black; font-size: small;"><br /></span></span>
<span style="font-family: Times,"Times New Roman",serif;"><span lang="EN-US" style="color: black; font-size: small;">1.DSC of Class 2 and Class 3 can be tiused by the assessee to sign the invoices. The DSC should be issued by Certifying authority.</span></span><br />
<br />
<br />
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwwVDevv00KX80j_ZsqS1oFTCHuzRBRMX-m67-4hR1q2gULVC7hPnghkG6cTCzV_EFAiMjno8NXHw8hzjxybF8R67dPDihzEORcxp0mN205KxbSCotgWi0qWJMmkdAtd57-BczOE0ncI4/s1600/Service+Tax.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Service Tax" border="0" height="338" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwwVDevv00KX80j_ZsqS1oFTCHuzRBRMX-m67-4hR1q2gULVC7hPnghkG6cTCzV_EFAiMjno8NXHw8hzjxybF8R67dPDihzEORcxp0mN205KxbSCotgWi0qWJMmkdAtd57-BczOE0ncI4/s640/Service+Tax.jpg" title="Service Tax and DSC" width="640" /></a></div>
</div>
<div style="text-align: justify;">
<span style="font-family: Times,"Times New Roman",serif;"><span lang="EN-US" style="color: black; font-size: small;"><br /></span></span></div>
<div style="text-align: justify;">
<span style="font-family: Times,"Times New Roman",serif;"><span lang="EN-US" style="color: black; font-size: small;">2.</span><span style="font-size: small;"><span lang="EN-US" style="color: black; line-height: 115%;"><span style="font-feature-settings: normal; font-kerning: auto; font-language-override: normal; font-size-adjust: none; font-stretch: normal; font-style: normal; font-synthesis: weight style; font-variant: normal; font-weight: normal; line-height: normal;"></span></span><span lang="EN-US" style="color: black; line-height: 115%;">(i) Every assessee proposing
to use digital signatures shall intimate the following details to the
jurisdictional Deputy Commissioner or Assistant Commissioner of Central Excise,
at least fifteen days in advance:-</span></span></span>
</div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 70.9pt; text-align: justify; text-indent: -14.2pt;">
<span style="font-family: Times,"Times New Roman",serif;"><span style="font-size: small;"><span lang="EN-US" style="color: black; line-height: 115%;">a)<span style="font-feature-settings: normal; font-kerning: auto; font-language-override: normal; font-size-adjust: none; font-stretch: normal; font-style: normal; font-synthesis: weight style; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span><span lang="EN-US" style="color: black; line-height: 115%;">name, e-mail id, office
address and designation of the person authorized to use the digital signature
certificate;</span></span></span></div>
<div style="text-align: left;">
</div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 70.9pt; text-align: justify; text-indent: -14.2pt;">
<span style="font-family: Times,"Times New Roman",serif;"><span style="font-size: small;"><span lang="EN-US" style="color: black; line-height: 115%;">b)<span style="font-feature-settings: normal; font-kerning: auto; font-language-override: normal; font-size-adjust: none; font-stretch: normal; font-style: normal; font-synthesis: weight style; font-variant: normal; font-weight: normal; line-height: normal;"> </span></span><span lang="EN-US" style="color: black; line-height: 115%;">name of the Certifying Authority;</span></span></span></div>
<div style="text-align: left;">
</div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 70.9pt; text-align: justify; text-indent: -14.2pt;">
<span style="font-family: Times,"Times New Roman",serif;"><span style="font-size: small;"><span lang="EN-US" style="color: black; line-height: 115%;">c)<span style="font-feature-settings: normal; font-kerning: auto; font-language-override: normal; font-size-adjust: none; font-stretch: normal; font-style: normal; font-synthesis: weight style; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span><span lang="EN-US" style="color: black; line-height: 115%;">date of issue of digital
certificate and validity of the digital signature with a copy of the
certificate issued by the Certifying Authority along with the complete address
of the said Authority:</span></span></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 70.9pt; text-align: justify; text-indent: -14.2pt;">
</div>
<div style="text-align: left;">
</div>
<div class="MsoListParagraphCxSpMiddle" style="text-align: justify;">
<span style="font-family: Times,"Times New Roman",serif;"><span style="font-size: small;"><span lang="EN-US" style="color: black; line-height: 115%;"></span><span lang="EN-US" style="color: black; line-height: 115%;">Provided that in case of any change in the details
submitted to the jurisdictional Deputy Commissioner or Assistant Commissioner,
complete details shall be submitted afresh within fifteen days of such change. </span></span></span></div>
<div class="MsoListParagraphCxSpMiddle" style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="font-family: Times,"Times New Roman",serif;"><span style="font-size: small;">(ii) Assessee already using Digital Signature should intimate the jurisdictional Deputy Commissioner and Assistant Commissioner of Central Excise within 15 days of the notification.</span></span></div>
<div style="text-align: justify;">
<span style="font-family: Times,"Times New Roman",serif;"><span style="font-size: small;"><br /></span></span></div>
<div style="text-align: justify;">
<span style="font-family: Times,"Times New Roman",serif;"><span style="font-size: small;">3.<span lang="EN-US" style="color: black; line-height: 115%;"><span style="font-feature-settings: normal; font-kerning: auto; font-language-override: normal; font-size-adjust: none; font-stretch: normal; font-style: normal; font-synthesis: weight style; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span><span lang="EN-US" style="color: black; line-height: 115%;">Every assessee who opts to
maintain records in electronic form and who has more than one factory or
service tax registration shall maintain separate electronic records for each
factory or each service tax registration.</span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="font-family: Times,"Times New Roman",serif;"><span style="font-size: small;"><span lang="EN-US" style="color: black; line-height: 115%;">4.</span><span lang="EN-US" style="color: black; line-height: 115%;"><span lang="EN-US" style="color: black; line-height: 115%;"><span style="font-feature-settings: normal; font-kerning: auto; font-language-override: normal; font-size-adjust: none; font-stretch: normal; font-style: normal; font-synthesis: weight style; font-variant: normal; font-weight: normal; line-height: normal;"></span></span><span lang="EN-US" style="color: black; line-height: 115%;"> Every assessee who opts to
maintain records in electronic form, shall on request by a Central Excise
Officer, produce the specified records in electronic form and invoices through
e-mail or on a specified storage device in an electronically readable format
for verification of the authenticity of the document and the request for such records
and invoices shall be specified in the letter or e-mail by the Central Excise
Officer.</span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="font-family: Times,"Times New Roman",serif;"><span style="font-size: small;"><span lang="EN-US" style="color: black; line-height: 115%;"><span lang="EN-US" style="color: black; line-height: 115%;">5. </span></span><span lang="EN-US" style="color: black; line-height: 115%;">A Central Excise Officer, during
an enquiry, investigation or audit, in accordance with the provisions of section
14 of the Central Excise Act, 1944 and as made applicable to Service Tax as per
the provisions contained in section 83 of the Finance Act, 1994, may direct an
assessee to furnish printouts of the records in electronic form and invoices
and may resume printouts of such records and invoices after verifying the
correctness of the same in electronic format; and after the print outs of such
records in electronic form have been signed by the assessee or any other person
authorised by the assessee in this regard, if so requested by such Central
Excise Officer.</span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="font-family: Times,"Times New Roman",serif;"><span style="font-size: small;"><span lang="EN-US" style="color: black; line-height: 115%;">6. </span><span lang="EN-US" style="color: black; line-height: 115%;"><span lang="EN-US" style="color: black; line-height: 115%;"><span style="font-feature-settings: normal; font-kerning: auto; font-language-override: normal; font-size-adjust: none; font-stretch: normal; font-style: normal; font-synthesis: weight style; font-variant: normal; font-weight: normal; line-height: normal;">
</span></span><span lang="EN-US" style="color: black; line-height: 115%;">Every assessee who opts to
maintain records in electronic form shall ensure that appropriate backup of
records in electronic form is maintained and preserved for a period of 5 years
immediately after the financial year to which such records pertain.</span> </span></span></span></div>
</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-26480426080441045312015-07-07T11:54:00.001+05:302015-07-07T11:54:36.679+05:30New Revised Scheme of Education and Training ICAI<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
Institute of Chartered Accountants of India has recently issued the new training program and Education scheme for students and has asked Members & Students for their comments and suggestions. After considering all the suggestions a final scheme has been prepared by ICAI for the students willing to undergo CA course and achieve prestigious ICAI membership. The scheme has been published by ICAI and will officially come into affect after publishing it in Official Gazette. Till then the old scheme will continue for all the new students registering for the course.</div>
<div style="text-align: justify;">
</div>
<div style="text-align: justify;">
</div>
<div style="text-align: justify;">
Below is the Full scheme for Training and Education as decided by ICAI</div>
<div class="separator" style="clear: both; text-align: justify;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhKP3Nd9F2x031uwY-942w6QaTLiAk83_iQCFv0nSy-fin04mzZ4hZNAk32w99wzTCX407qWr06EEKlbPwleIV6SHRhgwBHA1XDxP7JaS6c_cvG1odEgvWz6pdFLTPhBod26w4iMYyhey4/s1600/ICAI.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="ICAI Revised Scheme of Education and Training" border="0" height="412" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhKP3Nd9F2x031uwY-942w6QaTLiAk83_iQCFv0nSy-fin04mzZ4hZNAk32w99wzTCX407qWr06EEKlbPwleIV6SHRhgwBHA1XDxP7JaS6c_cvG1odEgvWz6pdFLTPhBod26w4iMYyhey4/s640/ICAI.jpg" title="ICAI Revised Scheme of Education and Training" width="640" /></a></div>
<div style="text-align: justify;">
</div>
<h4 style="text-align: justify;">
<b>STEPS TO QUALIFY CHARTERED ACCOUNTANT COURSE FOR NON-DIRECT ENTRY STUDENTS<a name='more'></a></b></h4>
<div style="text-align: justify;">
1. Register with Board of Studies after appearing in class XII.</div>
<div style="text-align: justify;">
<br />2. Appear in Foundation Program (Earlier known as CPT) after passing class XII exam.<br /> </div>
<div style="text-align: justify;">
3. Register for Intermediate (Earlier Known as IPCC) after passing Foundation.<br /> </div>
<div style="text-align: justify;">
4. Appear and pass either or both groups of Intermeidate, after completing 8 months study period.<br /> </div>
<div style="text-align: justify;">
5. Complete 4 weeks Integrated Course on Information Technology and Soft Skills (ICITSS).<br /> </div>
<div style="text-align: justify;">
6. Register and Start 3 years of Practical Training under a Chartered Accountant.<br /> </div>
<div style="text-align: justify;">
7. Register for Final after passing both groups of Intermediate.<br /> </div>
<div style="text-align: justify;">
8. Complete practical training and Advanced ICITSS</div>
<div style="text-align: justify;">
<br />9. Appear and pass Final</div>
<div style="text-align: justify;">
<br />10. Apply for Membership</div>
<div style="text-align: justify;">
<br /></div>
<h4 style="text-align: justify;">
<b>STEPS TO QUALIFY CHARTERED ACCOUNTANT COURSE FOR DIRECT ENTRY STUDENTS </b></h4>
<div style="text-align: justify;">
<b>1. </b>Applicable for Graduates/Post Graduates with 55% marks in Commerce or for else 60% and Intermediate Qualified Cost Accountants or Company Sectary Students</div>
<div style="text-align: justify;">
<br />2. Intermediate Qualified Students of ICSI and ICAI (Cost Accountants) directly register for Intermediate course and start from Step 3 of above list</div>
<div style="text-align: justify;">
<br />3. For Graduates/Post Graduates register and complete 4 Week ICITSS</div>
<div style="text-align: justify;">
<br />4. Register for 3 years training and complete 9 months training and then appear in Intermediate Examination<br /> </div>
<div style="text-align: justify;">
5. After completing Intermediate Examination start from step 7 above.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
</div>
<h4 style="text-align: justify;">
<b><br /></b></h4>
<h4 style="text-align: justify;">
<b>CHANGES IN SUBJECTS OF ICAI COURSES</b></h4>
<h4 style="text-align: justify;">
<b>FOUNDATION COURSE (EARLIER KNOWN AS CPT) </b></h4>
<div style="text-align: justify;">
A mixture of Subjective and Objective paper will be started. Only paper 2 and 4 will be objective.</div>
<div style="text-align: justify;">
</div>
<div style="text-align: justify;">
Paper 1: Principles and Practices of Accounting (100 marks)</div>
Paper 2: Business Mathematics and Logical Reasoning (60 makrs) & Statistics (40 marks)<b> </b><br />
Paper 3: Mercantile Law (60 marks) & General English<b> </b>(40 makrs)<br />
Paper 4: Business Economics (60 marks) and Business and Commercial Knowledge (40 marks)<br />
<br />
Students can only appear after passing Class XII examination. Paper will of 400 marks and passing marks would be overall 50 % and 40% for each subject.<br />
<br />
<br />
<h4 style="text-align: left;">
INTERMEDIATE (EARLIER KNOWN AS IPCC)</h4>
<div style="text-align: left;">
A total of 8 papers will have to be studied, divided into 2 groups of 4 paper each.</div>
<div style="text-align: left;">
<br /></div>
<div style="text-align: left;">
GROUP 1-</div>
<div style="text-align: left;">
Paper 1: Accounting (100 marks)</div>
<div style="text-align: left;">
Paper 2: Corporate Law (60 marks) Other Laws (40 marks)</div>
<div style="text-align: left;">
Paper 3: Cost Accounting (100 marks)</div>
<div style="text-align: left;">
Paper 4: Direct Tax (60 marks) and Indirect Tax (40 marks)</div>
<div style="text-align: left;">
<br /></div>
<div style="text-align: left;">
GROUP 2-</div>
<div style="text-align: left;">
Paper 1: Advanced Accounting (100 marks)</div>
<div style="text-align: left;">
Paper 2: Audit and Assurance (100 marks)</div>
<div style="text-align: left;">
Paper 3: Financial Management (60 marks) and Business Economic Environment (40 marks)</div>
<div style="text-align: left;">
Paper 4: Information Technology (60 marks) and Strategic Management (40 marks)</div>
<div style="text-align: left;">
<br /></div>
<div style="text-align: left;">
<br /></div>
<h4 style="text-align: left;">
FINAL COURSE</h4>
<div style="text-align: left;">
<br /></div>
<div style="text-align: left;">
A total of 8 papers will have to be studied, divided into 2 groups of 4 paper each.</div>
<div style="text-align: left;">
<br /></div>
<div style="text-align: left;">
GROUP 1-</div>
<div style="text-align: left;">
Paper1: Financial Reporting (100 marks) </div>
<div style="text-align: left;">
Paper 2: Strategic Financial Management (100 marks)</div>
<div style="text-align: left;">
Paper 3: Advanced Auditing and Professional Ethics (100 marks)</div>
<div style="text-align: left;">
Paper 4: Corporate Laws and Other Economic Laws (100 marks)</div>
<div style="text-align: left;">
<br /></div>
<div style="text-align: left;">
GROUP 2</div>
<div style="text-align: left;">
Paper 1: Advanced Management Accounting (100 marks)</div>
<div style="text-align: left;">
Paper 2: Financial Service and Capital Market (50 marks) and Information System Control and Audit (50 marks)</div>
<div style="text-align: left;">
Paper 3: Advanced Direct Tax laws (70 marks) and International Taxation (30 marks)</div>
<div style="text-align: left;">
Paper 4: Advanced Indirect Tax Laws (100 marks) </div>
<div style="text-align: justify;">
<br /></div>
<h4 style="text-align: justify;">
<b> </b></h4>
<h4 style="text-align: justify;">
<b>ICITSS (INTEGRATED COURSE ON INFORMATION TECHNOLOGY AND SOFT SKILLS)</b></h4>
<ul style="text-align: left;">
<li>2 weeks of soft skills and 2 weeks of IT training<b> </b></li>
<li>To be started before starting 3 years practical training</li>
<li>Assessment test after the completion of course.</li>
</ul>
<br />
<h4 style="text-align: left;">
PRACTICAL TRAINING</h4>
<ul style="text-align: left;">
<li>Duration of 3 years</li>
<li>Commencement after passing both groups and ICITSS </li>
<li>Commencement For Direct Entry after completing ICITSS</li>
</ul>
<h4 style="text-align: justify;">
AICITSS <b>(</b>ADVANCED <b>INTEGRATED COURSE ON INFORMATION TECHNOLOGY AND SOFT SKILLS)</b></h4>
<ul style="text-align: left;">
<li><b> </b>2 weeks of soft skills and 2 weeks of IT trainin<b>g</b></li>
<li>To be started in last 2 years practical training<b> </b>and before appearing in Final Examination.</li>
</ul>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b> </b></div>
<div style="text-align: justify;">
<br /></div>
</div>
Akshay Jainhttp://www.blogger.com/profile/05081848744430384763noreply@blogger.com0tag:blogger.com,1999:blog-8061766548912654285.post-49845230215545457102015-07-04T12:03:00.002+05:302015-07-04T12:03:46.849+05:30All You need to know about Black Money Disclosure Scheme<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
During the presentation of Union
Budget 2015-2016, Finance Minister Shri Arun Jaitely Ji, has announced
the scheme of rigorous taxes and penalties on those who have Foreign
Undisclosed Income and Assets. An act was made to provide the scope,
taxation and penalties on Black money in Foreign. The Act was given
assent by the President on 26th May, 2015 and is called <b>BLACK MONEY (UNDISCLOSED FOREIGN INCOME AND ASSETS) AND IMPOSITION OF TAX ACT, 2015.</b></div>
<a name='more'></a><br />
<div style="text-align: justify;">
<br /></div>
<h3 style="text-align: justify;">
<span id="deltabreadcrumbnav">SALIENT FEATURES OF THE ACT</span></h3>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav"><br /></span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav">1. Tax at the rate of 30% starting from 1st April, 2016 on All Undisclosed Foreign Assets and Income.</span></div>
<div style="text-align: justify;">
<br />
<span id="deltabreadcrumbnav">2.Tax will be charged every Assessment year and not only in first year.</span></div>
<div style="text-align: justify;">
<br />
<span id="deltabreadcrumbnav">3.
Total Income would include: Income from Foreign Sources (Undisclosed)+
Income from Foreign Sources (Disclosed but not in time) + Value of
Foreign Assets</span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav"><br /></span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav">4. No Deduction of any expenses or any Set off of losses will be allowed</span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav"><br /></span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav">5. Deduction of Income Assessed earlier will be allowed.</span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav"><br /></span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav">6. As per section 41, a Penalty at the rate of three times of the amount of tax will be levied for non disclosure. </span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav">7.
As per section 42 and 43 penalty of Rs. 10 lakhs for not furnishing the
return of Income or wrong particulars in return of Income.</span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav"><br /></span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav">8. Prosecution of 3 years to 7 years for not furnishing of details before end of Assessment year.</span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav"><br /></span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav"><br /></span></div>
<h3 style="text-align: justify;">
<span id="deltabreadcrumbnav">VOLUNTARY DISCLOSURE OF FOREIGN ASSETS AND INCOME</span></h3>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav">The
Act provides for Voluntary disclosure of Foreign Assets and Income and
thus provide safety from Prosecution and Some penalty. The detail of
which is given below:</span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav"><br /></span></div>
<div style="text-align: justify;">
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiYa_1lkkH3kK69vv9w2Gm_9wUyGxIGEG_zgHsDaxVOxEDJsLkh5QgaCXwSFFuyHhNx6D150-JxFQXEnEyvf-Gbse3V60vgI0Pj76IcRlxAOM-cdOX26DTBycye3EX6LxpHHPWkcz4rCPfB/s1600/Black+Money.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Black Money Disclosure Schem" border="0" height="334" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiYa_1lkkH3kK69vv9w2Gm_9wUyGxIGEG_zgHsDaxVOxEDJsLkh5QgaCXwSFFuyHhNx6D150-JxFQXEnEyvf-Gbse3V60vgI0Pj76IcRlxAOM-cdOX26DTBycye3EX6LxpHHPWkcz4rCPfB/s640/Black+Money.jpg" title="All you need to know about Black Money Disclosure Scheme" width="640" /></a></div>
<span id="deltabreadcrumbnav"><br /></span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav"><span id="ctl00_ctl23_DITSiteMapPath"><b>1. VOLUNTARY DISCLOSURE</b></span></span><br />
<b><br /></b></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav">As
per section 59 of the act, a person having or is beneficiary in Foreign
Assets and Income can be Voluntarily disclose the same if.</span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
a. <span style="font-family: Times,"Times New Roman",serif;">he had, either failed to furnish a return under section 139 of the Income- tax Act or</span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="font-family: Times,"Times New Roman",serif;">b. failed to disclose such income in a return furnished before the date of commencement of the Act or</span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="font-family: Times,"Times New Roman",serif;">c.
such income had escaped assessment by reason of the omission or
failure on the part of such person to make a return under
the Income- tax Act or to disclose fully and truly all material
facts necessary for the assessment or otherwise</span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav"><br /></span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav"><br /></span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav"><span id="ctl00_ctl23_DITSiteMapPath"><b>2. RATE OF TAX ON DISCLOSURE</b></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav">Tax
would be charged at the rate of 30% on the amount disclosed by the
person. The rate is same as that of the Undisclosed Income and Assets.</span><br />
<br /></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav"><br /></span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav"><span id="ctl00_ctl23_DITSiteMapPath"><b>3. PENALTY AND PROSECUTION</b></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav">Penalty will be levied at the rate of 100<b> </b>%
of rate of taxes, thus making it equal to 30%. If a person voluntary
discloses the Income and Asset, it will save 60% of the amount
(Undisclosed penalty equals to 90%, thus (90 - 60)% = 30%). The person
can also be secured from the prosecution as mentioned in the act.</span><br />
<br /></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav"><br /></span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav"><span id="ctl00_ctl23_DITSiteMapPath"><b>4. TIME LIMIT FOR PAYMENT AND DISCLOSURE</b></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav">As per the </span><span style="font-family: Times,"Times New Roman",serif;"><b>Notification no.57/2015,F.No.133/33/2015-TPL </b>the date of disclosure is 30th September, 2015 and the date till which amount is to be paid is 31st December, 2015.</span><br />
<span style="font-family: Times,"Times New Roman",serif;"><br /></span></div>
<div style="text-align: justify;">
<span style="font-family: Times,"Times New Roman",serif;"><br /></span></div>
<div style="text-align: justify;">
<span style="font-family: Times,"Times New Roman",serif;"><span style="font-size: small;"><b>5. FORM FOR DECLARATION</b></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="font-family: Times,"Times New Roman",serif;">Form for declaration if Form No. 6 and will be signed by the</span> </div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>a</b>.<b>Individual- </b>
Individual ; where individual is absent from India, person authorized
by him ; where the individual is mentally incapacitated , his
guardian or other person competent to act on his behalf. </div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>b. HUF- </b>
Karta ; where the karta is absent from India or is mentally
incapacitated from attending to his affairs, by any other adult
member of the HUF</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>c. Company</b>
Managing Director; where for any unavoidable reason the managing
director is not able to sign or there is no managing director, by any
director.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>d. Firm</b>
Managing partner; where for any unavoidable reason the
managing partner is not able to sign the declaration, or where
there is no managing partner, by any partner, not being a minor</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>e. Any other association</b> Any member of the association or the principal officer.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>f. Any other person</b> That person or by some other person competent to act on his behalf.<br />
<br /></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>6 DECLEARTION TO BE FILED TO WHOM</b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The
deceleration will have to be filed with Commissioner of Income Tax-
Delhi or can be efiled with the DSC of the authorized signatory.<b> </b> </div>
<div style="text-align: justify;">
<span style="font-family: Times,"Times New Roman",serif;"><span style="font-size: small;"><b> </b></span></span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav"><span id="ctl00_ctl23_DITSiteMapPath"><b> </b></span></span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav"><br /></span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav"><br /></span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav"><br /></span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav"><br /></span></div>
<div style="text-align: justify;">
<span id="deltabreadcrumbnav"><br /></span></div>
</div>
Unknownnoreply@blogger.com0