E-TICKET - TRVELLING

I am a student, studing at banglore. I take an E-ticket for returning home. The ticket has been lost. But I have the copy of the ticket in my handset. Is it enough for my travelling.?

Rail passengers needn’t carry a printout of their e-ticket anymore. They can travel by showing an SMS message of the ticket on their mobile phone or a screenshot of it on a laptop/iPad along with original identity proof to be shown to the ticket examiners.

CHEQUES/DRAFTS - PRESENTATION

I am a businessman. Usually I wants to travel all over the world in relation with my business. sometimes i couldn't present my cheques/drafts within the period. so i want to know the present validity date for a cheques/drafts .?

In India, it has been the usual practice among bankers to make payment of only such cheques and drafts as are presented for payment within a period of six months from the date of the instrument.

DEMAND DRAFT - CROSSING

I have a demand draft for Rs.20000. Can I receive cash over the counter?

As banks are aware, instruments with account payee crossing are required to be credited to the payee’s account and not paid in cash over the counter. However, some unscrupulous elements use demand drafts without any crossing for transfer of money as an alternative to settlement through cash.

SAVINGS BANK - CHARGES

SAVINGS BANK

I am a savings account holder in SBT bank. They are issuing monthly statment regularly. So i want to know whether they are charging any fees for this service?

some banks are not issuing pass books to their savings banks account holders (individuals) and only issue a computer generated account statement. banks must issue monthly statement of account. The cost of providing such pass book or statements should not be charged to the customer.

BUDGET 2012-13

BUDGET 2012-13

The government today indicated it will present the budget for 2012-13 on February 29, the assembly elections in five states notwithstanding.

SERVICE TAX

Service tax on Architect’s Services

(A) Date of Introduction: 16.10.1998 (Notification No. 53/98-S.T., dated 07.10.1998)

(B)    Definition and scope of service:

“Taxable Service” means any service provided or to be provided to any person, by an architect in his professional capacity, in any manner;

[Section 65 (105) (p) of Finance Act, 1994 as amended]

“Architect” means any person whose name is, for the time being, entered in the register of architects maintained under section 23 of the Architect Act,1972 (20 of 1972) and also includes any commercial concern engaged in any manner, whether directly or indirectly, in rendering services in the field of architecture;

[Section 65(6) of Finance Act, 1994 as amended]

(C)  Rate of Tax & Accounting Code:

	Rate of Tax	Accounting Code
Service Tax	10% of the value of services	00440072
Education Cess	2% of the service tax payable	00440298
Secondary and Higher Education cess	1% of the service tax payable.	00440426
Other –Penalty/interest	As levied or applicable	00440073

( Rate of tax is effective from 24.02.2009.)

MONEY CHANGING ACTIVITIES

Memorandum of Instructions governing money changing activities

Attention of Authorised Persons is invited to Para-3 of Part B of the Annex- I to the Memorandum of Instructions to Authorised Money Changers (AMCs), issued vide A. P. (DIR Series) Circular No. 57 [A.P. (FL/RL Series) Circular No. 04] dated March 09, 2009 in terms of which applications from AMCs for additional offices in metropolitan cities are considered if the total offices (including proposed offices) of the applicant are in the ratio 1:1 (i.e. the applicant has one non-metropolitan office for every office in a metro).

2. In order to provide more flexibility, to authorised persons to decide the location of their branches, it has been decided to dispense with the criteria of 1:1 ratio between metro and non-metro branches. However, we expect branches to be diversified and to be meeting the demand of tourists, etc. All the other instructions shall remain unchanged.

TRAI_SMS

TRAI EXTENDS LIMIT TO  200 SMS  PER DAY

Telecom Regulatory Authority of India, TRAI, has extended the 100 sms per day limit to 200 sms per day, per sim. Earlier, TRAI had restricted the number of commercial non-commercial sms that can be send from a sim, to 100. TRAI received representations from some of the service providers and consumers to increase the limit of 100 sms per day, per sim. TRAI has decided that the New cap of 200 sms per day, per sim will be effective from today onwards.

TAX FOR SIM CARD

Anonymous said...

SIR,I WANT TO KNOW ANY SALES TAX ON SIM CARD ?

30 December 2011 11:02         

.       SIM cards, recharge coupon vouchers, mobile telephone rentals on post paid connections, value added services such as ring tones, music down loads, wall papers etc., and proceeds received on sharing of infrastructure cannot be subjected to tax either under Section 4(1) or Section 4(8) of the Act.

COMMISSION /SAS/UTI AGENTS

 Deduction for expenses on commission payable to agents appointed under the Standardised Agency System for Government securities and the agents of Post Office Time Deposits and Unit Trust of India

1. The agents of Standardised Agency System, Post Office Time Deposits and Unit Trust of India, have drawn the attention of the Board to the fact that where no detailed accounts are maintained and the gross commission received by them is less than Rs. 60,000, the benefit of an ad hoc deduction for expenses, at the rate of 50 per cent of the gross receipts of commission, is available to the authorised agents of Unit Trust of India and the agents of the following securities :�

�(i)  �National Savings Certificates II Issue;

  (ii)  �National Savings Certificates VI Issue;

(iii)  �National Savings Certificates VII Issue;

(iv)  �Social Securities Certificates; and

  (v)  �Post Office Time Deposits.

2. In view of the discontinuance of some of the above certificates and the notification of new schemes, the aforesaid agents have requested that the currently notified schemes, as listed in paragraph 3 below, may be allowed the benefit of the same ad hoc deduction.

3. The Board has considered these representations and has decided that the benefit of an ad hoc deduction, at the rate of 50 per cent of the gross receipts of commission, be given to the authorised agents of Unit Trust of India and the agents of the following securities :�

  (1)  �National Savings Certificates VIII Issue;

  (2)  �Social Securities Certificates;

  (3)  �Post Office Time Deposit Accounts;

  (4)  �Post Office Recurring Deposit Accounts;

  (5)  �National Savings Scheme, 1987;

  (6)  �Post Office Monthly Income Account Scheme;

  (7)  �Kisan Vikas Patra;

  (8)  �Public Provident Fund Accounts; and

  (9)  �Deposit Scheme for Retiring Government Employees, 1989.

Circular : No. 594, dated 27-2-1991.

WELCOME NOTE

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