1. Better ticketing facilities: You can now book your tickets four months in advance, as against a period of two months currently. The window for reserved ticket booking will be raised to 120 days versus the 60 days now. 2. No rail fare hike: Prabhu spared passengers from any hike …
Read More »Monthly Archives: February 2015
When will BJP get majority in Rajya Sabha
This is a very hot topic. When will Rajya Sabha function smoothly? When will ruling party get majority? Here is the answer. Rajya Sabha – The Basics It is also called the Upper House of the Parliament of India. It has 250 members, 12 of whom are nominated …
Read More »Know your Union Railway Minister – Suresh Prabhu
With the aim of clearing the financial and administrative mess in the Railways, Union Railway Minister Suresh Prabhu is all set to present his maiden Railway Budget 2015-16 on February 26. Prabhu has time and again stressed that Railways’ financial health is not good and there is an urgent …
Read More »Monthly Digest of rare terminologies used in the country during February 2015
This is the latest addition to our variety of articles posted in this blog. This blog is intended to reach the common man of this country. So many of us may not be aware of the fancy or rare terminologies used in the public space. Through this article, we …
Read More »Why people are opposing Land acquisition Ordinance?
First of all, let’s understand the basics of Land acquisition and its process, before we learn about the reasons for opposition. Hope this article helps. Please leave your comments. What Land acquisition means? Land acquisition refers to the process by which the government forcibly acquires private property for …
Read More »Whether TDS has to be done on Interest paid to NBFC
Many Small and Medium Enterprises (SME) borrow money (unsecured loans) from Non-Banking Financial Companies (NBFC). Whether interest paid on such loan attracts TDS provisions is a question frequently asked by the accountants. Here is the answer. As per Section 194A of the Income Tax Act, 1961 a business …
Read More »Bad News: Late filing Fee under Section 234E of Income Tax Act 1961
Consequences on Delay in Filing of Quarterly eTDS Return The following is the mail sent out by Central Processing Centre (CPC), Income Tax department about fee charged under Section 234E of the Income Tax Act. The validity of the fee charged under this section was challenged in various courts by …
Read More »Consequences of non payment of Advance Tax
What is Advance Tax? The income Tax payers have to estimate their income for the current year (for example – current year is starting from1st April 2014 and ending on 31st March 2015) and compute the applicable taxes on such income. The taxes so computed have to be paid …
Read More »Final reminder communication from CPC: Non-Receipt of ITR V for the Asst year 2013-14
Income Tax Department ie Centralized Processing Center (ITD-CPC), Bangalore has started sending final email reminder communication for non-receipt of ITR – V for the assessment year 2013-14. From the past one week, many tax payers have received email from CPC asking them to submit ITR V. [ Recommended Read …
Read More »Are you buying a site or property from open market Part B: steps to be followed for registration of the property
This is in continuation to my previous article ‘Buying property from open market Part A’. In this article, I have written about the steps to be followed for registration and post registration of the property. Hope this helps. Step 3: Registration of the property: Preparation of Sale …
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