Govt Notified  for ITR 3, ITR 4, ITR 5, ITR 6, ITR 7


1. (1) These rules may be called the Income-tax (Tenth Amendment) Rules, 2015.

(2) They shall be deemed to have come into force with effect from the 1st day of April, 2015.

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:-



Form No.:ITR-3 (CLICK HERE & DOWNLOAD OFFICIAL ITR)
[For Individuals/HUFs being partners in firms and not carrying out business or profession under any proprietorship (Please see rule 12 of the Income-tax Rules,1962


Form No.:ITR-4 PDF (CLICK HERE & DOWNLOAD OFFICIAL ITR)
For Individual having income from business and Profession


Form No.:ITR-5 (CLICK HERE & DOWNLOAD OFFICIAL ITR)
[For persons other than,- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7(Please see Rule 12 of the Income-tax Rules,1962 Is there any change in the name

Form No.:ITR-6 (CLICK HERE & DOWNLOAD OFFICIAL ITR)

[For Companies other than companies claiming exemption (Please see rule 12 of the Income-tax Rules,1962 Is there any change in the company’s name If yes, please furnish the old name

Form No.:ITR-7 (CLICK HERE & DOWNLOAD OFFICIAL ITR)

[For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E (Please see rule 12 of the Income-tax Rules,1962

Form No.:Acknowledgement ITR-V ( CLICK HERE & GET OFFICIAL)
[Notification No.61/2015, F.No.142/1/2015-TPL] (Gaurav Kanaujia) Director to the Government of India 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.

CA IPCC for May 2015 Pass Percentage Analysis 
CA IPCC May 2015 Pass Percentage 8.47%


CA IPCC Pass Percentage May 2015 @ 8.47%. After Providing Expected Result Date of CA IPCC May 2015, Here we are providing CA IPCC Pass Percentage for May 15. Check passing percentage of ipcc may 2015. IPCC Pass Percentage by ICAI, pass percentage of ipcc may 2015, ipcc may 2015 expected percentage result, expected ipcc may 2015pass percentage. You can also check IPCC Pass Percentage Nov 2014 (6.20 % Only), IPCC Percentage May 2015,  Nov 2014 & Result Analysis, IPCC Expected Pass Percentage May 2015 and Past 10 Attempts Result Analysis. Check IPCC May 2015, Nov 2014 and May 2014 Pass Percentage and also check Result Analysis. Recently we provide IPCC Result announcement Date of May 2015 Exams in My Last Article. After Declaration of Result ICAI Provide complete Details of that exam like – No. of students appeared in Exam, Passing ratio % of IPCC May 2015 exam will be given below. IPCC May 2015 Result is Not Declared at this time when result is declared we will updated you. After Declaration  of Result Every Student Wants to know Pass Percentage of That Result and Everyone compare said Result to Past Result so today we Provide All Past Year Pass Percentage Sheet and Also provide Result Analysis of All Past Attempts. Now you can Scroll Down Below and See IPCC Pass Percentage and Past Attempts Result Analysis From below.

A IPCC May 2015 Results has been released so you are looking for Pass Percentage Analysis. if yes ? then you are on right way we let you know about last 5 year year Pass Percentage Analysis (ICAI) Institute of Charted Accountant of India  conducts a CA IPCC Examination two time in a year. As per source of official website this year ICAI conducted CA IPCC May 2015 exam on following details like 3rd May 2015 to 16th May 2015 in India.

CA IPCC May 2015 Results
ICAI  has been declared CA IPCC May 2015 results as we know on 31 July 2015. now time to to check  Pass Percentage Analysis  along with the results After declaration of CA IPCC result may 2015, everybody looking for CA IPCC pass percentage for May 2015 entrance exam. but make it will be updated on official portal at www.caresults.nic.in. we have some update for the pass percentage after it is released officially in the portal.

IPCC Pass Percentage May 2015

Groups	Total Candidates appeared	Total Candidates Passed	Pass Percentage
Both Groups	58188	4927	8.47
Group I	129886	17697	13.63
Group II	114655	15816	13.79

What is Form 16:
 If you are salaried employee in an organization, then you will get the salary after deducting tax by the employer. Therefore Form 16 is a certificate issued to you by your employer stating the Personal details of the Employee including Name, Permanent Account Number (PAN) etc , details of the salary you have earned, Perquisites that has been offered, allowances given , details of Chapter VIA deductions and the tax deducted on your salary by your Employer and paid to the government. It also has Employer details like Name, permanent account number PAN, TAN etc.
This is the basic document which is required by the employee to file income tax returns because Form-16 contains income chargeable under the head “Salaries” which is the taxable salary. The same needs to be indicated in Income Tax Returns.

Form 16 has 2 parts – Part A and Part B.
Part A has TAN (tax deduction & collection account number) of the employer & PAN (permanent account number) details of both the employer and employee. The name and address of employer and employee is also mentioned. It also mentions the assessment year and provide summary of tax deducted from your income and deposited to the government as per the quarterly TDS return filed by the employer. A monthly detail of TDS deducted and deposited is also certified.
Part B is an important part of your Form 16 since it has a consolidated detail of salary paid to you during the year. The breakup of your salary as well as detail of deduction claimed by you under section 80 of the income tax act is mentioned. Deductions under Chapter VIA include details of amounts claimed under Section 80C for EPF, PPF, NSC, life insurance premium or Section 80D for health insurance, Section 80G for donations made are all mentioned here. It also shows your total taxable income and tax deducted on such income.

Necessity of Form 16 In Filing Income Tax Return: Form 16 is necessary to file an income tax return in India because Firstly, Form 16 acts as a checker for you to verify whether your employer has deposited the whole amount of TDS that he may have deducted from your salary. Secondly, it will enable you to file Income tax return disclosing the correct taxable salary income and various deductions from your salary like EPF, Profession tax and TDS.



Employer Obligation to provide Form 16 :- Further, it is the obligation of the employer to provide a Form 16 to all employees by 31 May of the assessment year (AY), if TDS has been deducted , In case no TDS has been deducted by the employer they may not issue you a Form 16.The employer can be liable to pay a penalty of Rs. 100 for each day by which he delays issuance of this certificate, also if you have been employed under more than one employer during the year, each of your employers will provide you a Form 16.

Filing of Income Tax Return without Form16:- Even if Form 16 has not been issued you cannot escape from the liability to file Income Tax Return , therefore to file income tax return without Form 16 you need to collect your monthly salary slip and compute total salary for the year.
Note: The amount credited in your bank statement is after deducting the tax at source but for reporting in ITR you need to calculate Gross Salary.
An employee receives many types of allowances in the form of salary while some allowances such as conveyance allowance, medical allowance, HRA, etc. are exempt from income tax while dearness allowance is completely taxable. Hence, the IT Department allows you to deduct the exempt allowances from salary to arrive at the figure of taxable salary.
Since you have not received form 16 from your employer, you must verify Form 26AS to know about the TAN and TDS deducted by your Employer

If you have other income as well apart from salary then sum up all the income like Income from renting of House property , capital gains from sale of assets , income from other sources like interest on bank deposits, RDs, FDs etc.
Deduct tax benefit from the above computed income like investments made under NSC, LIC, tuition fees, PPF, and repayment of principal of housing loan under section 80C. Similarly, donations made to charitable institutions can be claimed under section 80G, and payment made towards premium of medical insurance policy can be claimed in section 80D.
After summing up all income and deducting the tax benefits , the resultant computation will be taxable income. Now, calculate income tax on this taxable income using the IT slab rates for financial year 2014-15.
Now you are all set for filing tax return. You can now visit the online tax filing site to file your INCOME TAX RETURN.

CTC is cost to company and the components are

Basic
+HRA
+ Conveyance
+ Mobile/Telephone Expense Reimbursement
+ Medical Reimbursement
+ All allowances
+ Leave Travel Allowance (LTA)
+ Employer contribution of PF
+ Employer Contribution towards ESI
+ Total variable incentives
+ Perks & benefits
+ Insurance Premium (in case of Group insurance)

Basic Salary is your Basic Pay and is fully taxable
Gross Salary/ Gross Pay = salary paid after adding all benefits and allowances but before making any deductions of PF and Tax.

Net Salary / Net Pay = Gross Salary – (PF & Taxes)
Dearness Allowance (DA) – Dearness Allowance is fully taxable and is a cost of living adjustment allowance to mitigate the impact of inflation on people. It is paid to Government employees, Public sector employees (PSU) and lately to private sector employees too, Dearness Allowance is calculated as a percentage of a basic salary

HRA: HRA is given to meet the cost of a rented house taken by the employee for his stay. The Income Tax Act allows minimum of the following 3 as deduction in respect of the HRA paid to employees. –
Actual house rent allowance received from your employer
Actual house rent paid by you minus 10% of your basic salary
50% of your basic salary if you live in a metro or 40% of your basic salary if you live in a non-metro.

Meaning of Salary for calculation the exemption of HRA:
Salary means (Basic + D.A + Commission based on fixed percentage on turnover).
Salary is to be taken on due basis in respect of the period during which the period accommodation is occupied by the employee in the previous year.

LTA or Leave Travel Allowance – employer provides LTA to employee for Employee’s travel to any place in India alone or with their family. LTA exemption is limited to the extent of actual travel costs incurred by the employee.LTA exemption only in respect of two journeys performed in a block of four calendar years. Travel has to be undertaken within India and overseas destinations are not covered for exemption
Perquisite:- Is any benefit or amenity granted or provided free of cost or at concessional rate such as Rent free unfurnished house, Rent free furnished house, Motor car facility, Reimbursement of Gas, Electricity & Water, Club facility, Domestic Servant Facility, Interest Subsidy on Loan , Reimbursement of medical bills, Reimbursement of Hospital bills, Reimbursement of telephone bills, Benefits derived by employee stock option, and so on.

Provident Fund: 
Employer has to contribute 13.36% (of Basic + DA & Food concession allowance & retaining allowance, if any) towards PF deduction. It is divided as:
Pension Fund: 8.33%
Provident Fund: 3.67%
Total : 12%
Employee Deposit Linked Insurance (EDLI): 0.5%
Administrative Charges for PF Scheme: 0.85%
Administrative Charges for EDLI Scheme: 0.01%
All employees who earn up to INR 15,000 are now mandatorily required to get enrolled as members of the EPF.
Employee Contribution = 12 % (of Basic + DA & Food concession allowance & retaining allowance, if any)
TDS:
Your employer deducts TDS on your salary based on the Income Tax Slab rates for the financial year. If your income is more than Rs 2, 50,000 (the minimum amount which is exempt under Income Tax), the employer has to deduct TDS on your Income. You can choose to disclose all your Incomes like rent from house property, interest income from FDs etc and employer will calculate and deduct TDS based on your total income. This saves you the effort of paying taxes to the government yourself.
Form 16:- is a document issued by employer to employee about salaries paid, Perquisites offered, details of deductibles and TDS deducted pertaining to the previous financial year. This is the basic document which is required by the employee to file income tax returns because Form-16 contains income chargeable under the head “Salaries” which is the taxable salary. The same needs to be indicated in Income Tax Returns. It is a certificate stating the details of the salary employee have earned and the tax deducted on their behalf and paid to the government.

TAX CALCULATION :- If you have other income as well apart from salary then sum up all the income like Income from renting of House property , capital gains from sale of assets , income from other sources like interest on bank deposits, RDs, FDs etc.
Deduct tax benefit from the above computed income like investments made under NSC, LIC, tuition fees, PPF, and repayment of principal of housing loan under section 80C. Similarly, donations made to charitable institutions can be claimed under section 80G, and payment made towards premium of medical insurance policy can be claimed in section 80D.
After summing up all income and deducting the tax benefits, the resultant computation will be taxable income. Now, calculate income tax on this taxable income using the IT slab rates for financial year 2014-15.
Now you are all set for filing tax return. You can now visit the online tax filing site to file your INCOME TAX RETURN.

Use of Digital Signature and Electronic maintenance of records under Central Excise and Service Tax


Government of India has in the recent past launched its dream initiative of ‘Digital India’ which promises to integrate the government departments and the people of India ensuring that the government services are made available to citizens electronically and thereby increasing the work efficiency and reducing the paperwork. In order to implement the said initiative, steps were taken by the Central Board of Excise and Customs Central Excise in the union budget 2015 wheren

Notification No. 8/2015-CE NT was issued to provide that:
“The records may be preserved in electronic form and every page of the record so preserved shall be authenticated by means of a digital signature.
An invoice issued by a manufacturer may be authenticated by means of a digital signature:
Provided that where the duplicate copy of the invoice meant for transporter is digitally signed, a hard copy of the duplicate copy of the invoice meant for transporter and self attested by the manufacturer shall be used for transport of goods”.
Similar amendment was also introduced in the Service Tax Rules, 1994 vide Notification No. 5/2015-ST. Further it was informed that the board may, by notification, specify the conditions, safeguards and procedures to be followed by an assessee preserving digitally signed records or issuing digitally signed invoices.

In order to give effect to the above amendments, CBEC has recently issued a notification No. 18/2015 CE NT dated 06.07.2015 providing the conditions, safeguards and procedures to be complied. This article is intended to provide the insights of the said conditions and its practical applicability as explained below:
Type of Digital Signature Certificate (DSC) to be obtained
Every assessee proposing to use digital signature shall use Class 2 or Class 3 Digital Signature Certificate duly issued by the Certifying Authority in India.

Comments: Information Technology Act, 2000 has given legal recognition to digital signatures meaning that the digital signatures have the same value as handwritten or signed signatures affixed to a document for its verification. Hence there is no issue as for the validity of the same.

Generally, there are four classes of digital signature certificates viz Class 0, 1, 2 and 3, each class of Certificate provides specific functionality and security features and corresponds to a specific level of trust, Class 3 being highly secured and provides for higher level of trust. For the purpose of authentication under Central Excise & Service Tax only Class 2 or class 3 digital signature certificates are recognized as valid.
Class 1 and class 2 DSC’s are used for basic purposes such as testing or to just check the validity of an email etc. whereas Class 2 DSC’s are generally used for filing documents under Income Tax, Registrar of Companies and VAT etc. Class 3 DSC’s are used for more complex applications such as online e-tendering, e-commerce etc. which requires higher security levels and trust.
Prior intimation to AC/DC

2) Every assessee proposing to use digital signatures shall intimate the following details to the jurisdictional AC/DC, at least 15 in advance:
a) Name, e-mail id, office address and designation of the person authorised to use the digital signature certificate;
b) Name of the Certifying Authority;
c) 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
Intimation of change in details
In case of any change in the details submitted to the jurisdictional AC/DC, complete details shall be submitted afresh within 15 days of such change.
Intimation even if already using digital signature
Every assessee already using digital signature shall intimate to the jurisdictional AC/DC, the above details within 15 days of issue of this notification.
Comments: Although Central excise and service tax law has now explicitly provided for the use of digital signature/maintenance of electronic records but the same was followed by many assesses even before the existence of the said amendment, as digital signature/digital maintenance of records were given legal validity under section 4 of Information technology act, 2000 which overrides all other laws.

For all such assesses already using digital signatures, it is advised to intimate at the earliest, even though the last date of intimation (i.e. July 21, 2015) has already elapsed. This intimation is only required for the assesses already using digital signatures. It is not required for assesses already using electronic records.
Separate electronic records for each registration
It is specified that every assessee opting to maintain electronic records having more than one factory or service tax registration then shall maintain separate electronic records for each factory or each service tax registration.
Comments: In this regard, following must be noted:
Separate Daily Stock Accounts in electronic form must be maintained for each factory;
Separate output tax computations, CENVAT register must be maintained for each registered premises;
This requirement is only for electronic maintenance of records and not for digital signatures, therefore single digital signature shall suffice even for multiple registrations of the same assessee.
Submission of electronic records through e-mail or electronic storage device
Every assessee opting to maintain records in electronic form, shall on request by a Central Excise Officer in a letter or e-mail, produce the electronic records/invoices through e-mail or on a specified storage device in an electronically readable format for verification of the authenticity of the document.

Comments: Since, submission of records to central excise officers through e-mail is valid therefore, further acknowledgement from the department confirming the receipt of information may not be required unless a bounce back mail is received intimating the non-delivery of such e-mail. However, in case information is submitted in a specified storage device, then in order to safeguard the self interest it is advised to specifically obtain the acknowledgement of receipt on a letter head duly stamped and signed by the respective departmental officer clearly specifying the confirming the receipt of the information in electronic form.

Print-outs of the electronic records to submitted during audit, investigation etc.
Central Excise Officer, may during an enquiry, investigation or audit, under the provision of Central excise or service tax law may request an assessee to furnish duly signed printouts of the records in electronic form.

Preservation of e-records for a period of 5 years
Every assessee opting 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.
(For any suggestions, feedback or queries, write on [email protected])

Free Download ICAI CA Student Journal August 2015
Free Download ICAI CA Student Journal July 2015
Free Download ICAI CA Student Journal June 2015
Free Download ICAI CA Student Journal May 2015
Free Download ICAI CA Student Journal April 2015



Content / Index of Journal August 2015:
President’s Communication
Vice President’s Communication
Chairman’s Communication
Article: Loan and Investment under the Companies Act, 2013
Article: Alternate Director and diverse issues related to its appointment
Report: An Experience with a Difference
Examination: Applicability of Standards/Guidance Notes/Legislative Amendments etc. for November, 2015 – Final Examination
Examination: Applicability of Standards/Guidance Notes/Legislative Amendments etc. for November, 2015 – Intermediate (IPC) Examination
Toppers



CLICK BELOW LINKS AND GET ICAI STUDENT JOURNAL FOR AUGUST AND OTHER MONTHS

Students’ Journal – August 2015 Download
Students’ Journal – July 2015  Download
Students’ Journal – June 2015 Download
Students’ Journal – May 2015 Download
Students’ Journal – April 2015 Download

(A)   Most people fall in this category –
Salaried employees, pensioners and other persons whose accounts are not required to be audited

31st August 2015 (Extended Date)

(B)   Companies and other persons whose accounts are to be audited
30th September 2015  

No Need to Send ITR5to Department

Income Tax Department has applied e-Verification of  Income Tax Returns which is excellent.   There is lot of benefit of this functionality i.e. no need to send individually, paper saving , no fear of cancellation of return in the absence of ITR-v with Income Tax Department etc.   Complete procedure of e-verification is given below.

e-Verification of Returns
e-Verification of Returns – User Manual 
Table of Contents 

1 e-Verification while uploading a return (Non - NetBanking) ........................
2 e-Verification of an already uploaded return (Non - NetBanking) ................ 
3 e-Verification while uploading a return through NetBanking Log

1 e-Verification while uploading a return (Non - NetBanking)
1 Upload Return  Click Submit
2 The Return is uploaded (Pending for e-Verification)
3 Four e-Verification options provided – Taxpayer can choose any one of the options provided to e-Verify the return.
>> Option-1  “I already have an EVC and I would like to Submit EVC”
>> Option-2  “I do not have an EVC and I would like to generate an EVC”
>> Option-3  “I would like to generate Aadhaar OTP to e-Verify my return”
>> Option-4  “I would like to e-Verify later/ I would like to send ITR-V”

Option 1 – “I already have an EVC and I would like to Submit EVC” Step 1: Provide the EVC in the text box  Click Submit. Step 2: Download the Acknowledgement (No Further action required).

Option 2 – “I do not have an EVC and I would like to generate an EVC”

Two options are provided – Taxpayer can choose any one of the options if they do not have an EVC 

i. Generate EVC through NetBanking. 
ii. Generate EVC to registered Email Id and Mobile Number. 

Generate EVC through NetBanking:
Step 1: Login to e-Filing Portal through NetBanking. 
Step 2: Click on e-Verify return. 

Generate EVC to registered Email Id and Mobile Number:
Step 1: Enter the EVC sent to your registered Email Id / Mobile Number and Submit to e-Verify return.
Step 2: Download the Acknowledgement (No Further action required).

Option 3 – “I would like to generate Aadhaar OTP to e-Verify my return” Pre-requisite: Taxpayer’s PAN and Aadhaar should be linked. If Aadhaar is not linked, click on Link Aadhaar button and link the Aadhaar.
Step 1: Enter the Aadhaar OTP sent to your Mobile Number registered with Aadhaar and Submit to e-Verify return.
Step 2: Download the Acknowledgement (No Further action required).

Option 4 – “I would like to e-Verify later/ I would like to send ITR-V”
Step 1: Click on Continue  Download ITR-V Step 2: Submit ITR-V to CPC, Bangalore.

2 e-Verification of an already uploaded return (Non - NetBanking)
1 Click e-Verify Return under e-file.
2 Uploaded returns (120 Days) which are yet to be e-Verified are displayed in a table.
3 Click on e-Verify (for the return already uploaded)
4 Three e-Verification options provided – Taxpayer can choose any one of the options provided to e-Verify the return.

 Option-1  “I already have an EVC and I would like to Submit EVC” 
 Option-2  “I do not have an EC and I would like to generate an EVC” 
 Option-3  “I would like to generate Aadhaar OTP to e-Verify my return”

Option 1 – “I already have an EVC and I would like to Submit EVC”
Step 1: Provide the EVC in the text box  Click Submit.
Step 2: Download the Acknowledgement (No Further action required).

Option 2 – “I do not have an EVC and I would like to generate an EVC” 

Two options are provided – Taxpayer can choose any one of the options if they do not have an EVC
i. Generate EVC through NetBanking.
ii. Generate EVC to registered Email Id and Mobile Number.

Generate EVC through NetBanking:
Step 1: Login to e-Filing Portal through Ne Banking.
Step 2: Click on e-Verify return. Generate EVC to registered Email Id and Mobile Number:
Step 1: Enter the EVC sent to your registered Email Id / Mobile Number and Submit to e-Verify return.
Step 2: Download the Acknowledgement (No Further action required).

Option 3 – “I would like to generate Aadhaar OTP to e-Verify my return” Pre-requisite: Taxpayer’s PAN and Aadhaar should be linked. If Aadhaar is not linked, click on Link Aadhaar button and link the Aadhaar.
Step 1: Enter the Aadhaar OTP sent to your Mobile Number registered with Aadhaar and Submit to e-Verify return.
Step 2: Download the Acknowledgement (No Further action required).



3 e-Verification while uploading a return through Net Banking Login:
1 Login to e-Filing through NetBanking
2 Upload Return  Click Submit
3 The Return is uploaded Pending for e-Verification)
4 Three e-Verification options provided – Taxpayer can choose any one of the options provided to e-Verify the return.

 Option-1  “I would like to e-Verify my return now”
 Option-2  “I would like to generate Aadhaar OTP to e-Verify my return”
 Option-3  “I would like to e-Verify later/ I would like to send ITR-V”

Option 1 – “I would like to e-Verify my return now”

Step 1: Click on “I would like to e-Verify my return now”  Click Continue
Step 2: Download the Acknowledgement (No Further action required).

Option 2 – “I would like to generate Aadhaar OTP to e-Verify my return” Pre-requisite: Taxpayer’s PAN and Aadhaar should be linked. If Aadhaar is not linked, click on Link Aadhaar button and link the Aadhaar.

Step 1: Enter the Aadhaar OTP sent to your Mobile Number registered with Aadhaar and Submit to e-Verify return.
Step 2: Download the Acknowledgement (No Further action required).

Option 3 – “I would like to e-Verify later/ I would like to send ITR-V”
Step 1: Click on Continue  Download ITR-V
Step 2: Submit ITR-V to CPC, Bangalore. Note: User who has already uploaded the return and opts to e-Verify the existing return can use the above mentioned options other than Option 3.

It is time to issue Form 16 or Form 16A certificate which is evidence of Deduction of Tax for deductee.   There is no requirement of any request from deductee side to deductor for issuing this certificate it is duty of deductor to issue Form 16 or Form 16A in time.  In case non-issue of these forms in time, Income Tax Department can issue notice to deductor for penalty @ 100/- per day for delay period.   Therefore, some FAQ's are given below which should be keep in mind for deductors :-



What is Form 16 / 16A?
It is the certificate of deduction of tax at source by any person in accordance with Chapter XVII-B of IT Act.
Form 16 is issued on deduction of tax by the employer on behalf of the employee under section 192 of IT Act, 1961.
Form 16A is issued if the deduction of tax is under any other provision of Chapter XVII-B of IT Act.
These certificates provide details of TDS / TCS for various transactions between deductor and deductee. It is mandatory to issue these certificates to Tax Payers u/s 203 of IT Act, 1961.

How are these forms generated?

These forms shall be generated by TDS CPC on processing the quarterly TDS / TCS statements filed by deductor. Deductor will have to raise a request for the same on TRACES. Deductor shall have the option to digitally sign the certificates.

What is the due date for the issue of these certificates?

Sr. No.	Form	Periodicity	Due Date
1	16	Annual	By 31st day of May of the financial year immediately following the financial year in which the income was paid and tax deducted
2	16A	Quarterly	Within fifteen days from the due date for furnishing the statement of tax deducted at source under rule 31A

Excel complete all formulas with examples 
(VERY USEFUL DONT MISS)

ATOZ ALL FUNCTIONS / FORMULAS:
SPLIT FORE NAME AND SUR NAME
PRECENTAGE
SHOW ALL FORMULA
SUM USING NAMES
INSTANT CHATS
BRACKET IN FORMULA
AGE CALCULATION
AUTOSUM SHORTCUT KEY
ABS
ADDRESS
AND
AVERAGE
CEILING
CELL
CHOOSE
CLEAN
COMBIN
CONCATENATE
CONVERT
CORREL
COUNT
COUNTA
COUNTBLANK
COUNTIF
DATE
DATEDIF
DATEVALUE
DAY
DAY360
DELTA
EAST
EDATE
EMONTH
ERROR.TYPE
EVEN
EXACT
FACT
FIND
FIXED
FLOOR
HLOOKUP
HOUR
IF
INDEX
INDIRECT
INFO
INT
ISBLANK
ISERR
ISERROR
ISEVEN
ISLOGICAL
ISNA
ISNONTEXT
ISNUMBER
ISODD
ISREF
ISTEXT



LARGE
LEFT
LEN
LOOKUP (ARRY)
LOOKUP (VECTOR)
LOWER
MATCH
MAX
MEDIAN
MID
MIN
MOD
MODE
MONTH
MROUND
N
NA
NETWORKDAYS
NORTH
NOT
NOW
ODD
OR
PROPER
QUARTILE
QUOTIENT
RAND
RANK
REPLACE
RIGHT
ROMAN
ROUND
ROUNDDOWN
ROUNDUP
SECOND
SIGN
SMALL
SOUTH
STDEV
STDEVP
SUBSTITUTE
SUM
SUM AS RUNNING TOTAL
SUMIF
SUMPRODUCT
I
TEXT
TIME
TIMEVALUE
TODAY
TRANSPOSE
TRIM
TRUNC
UPPER
VALUE
VLOOKUP
WEEKDAY
WORKDAY
YEAR

Heads under Petty Cash book:

Staff Welfare
Travelling Exp
Office Exp
Vehicle Exp
Business Promotion Exp
Postage & Telegram
Printing & Stationery
Telephone Charges
Frieght Charges
Handling Charges  
Salary Payable
Mis Exp
Repair & Maintance
Rate & Taxes
Advance
Etc.,

CLICK HERE TO DOWNLOAD Petty Cash Book Excel format free Download

Tally ERP Shortcut keys list hand book in Word format.


S.No.
Key
Functionality
Availability
1.
F1
To select a company
At all masters menu screen

2.
F1
To select the Accounts Button
At the Accounting Voucher creation and alteration screen

3.
F1
To select the Inventory
To view the detailed or condensed report
At the Inventory/Payroll Voucher creation and alteration screen  In almost all the Reports

4.
F1
To select Payroll Vouchers to alter
At the Accounting/Inventory voucher creation or alteration screen.

5.
F2
To change the current date
To select company inventory features
At almost all screens in TALLY
At the F11: Features screen

6.
F3
To select the company
To select Company Statutory & Taxation features
At almost all screens in TALLY
At the F11: Features screen

7.
F4
To select the Contra voucher
At Accounting / Inventory Voucher creation and alteration screen

8.
F5
To select the Payment voucher
At Accounting / Inventory Voucher creation and alteration screen

9.
F6
To select the Receipt voucher
At Accounting / Inventory Voucher creation and alteration screen

10.
F7
To select the Journal voucher
At Accounting / Inventory Voucher creation and alteration screen

11.
F8
To select the Sales voucher
At Accounting / Inventory Voucher creation and alteration screen

12.
F8
To select the Credit Note voucher
At Accounting / Inventory Voucher creation and alteration screen
13.
F9
To select the Purchase voucher
At Accounting / Inventory Voucher creation and alteration screen
14.
F9
To select the Debit Note voucher
At Accounting / Inventory Voucher creation and alteration screen
15.
F10
To select the Reversing Journal voucher
At Accounting / Inventory Voucher creation and alteration screen
16.
F10
To select the Memorandum voucher
At Accounting / Inventory Voucher creation and alteration screen
17.
F11
To select the Functions and Features screen
At almost all screens in TALLY
18.
F12
To select the Configure screen
At almost all screens in TALLY
FUNCTION KEY COMBINATION

SPECIAL KEY COMBINATION:
S.No.
Key
Functionality
Availability
1.
2
To Duplicate a voucher
At List of Vouchers – creates a voucher similar to the one where you positioned the cursor and used this key combination
2.
A
To Add a voucher


To Alter the column in columnar report
At List of Vouchers – adds a voucher after the one where you positioned the cursor and used this key combination.
Alters the column in all the reports which can be viewed in columnar format
3.
C
To create a master at a voucher screen (if it has not been already assigned a different function, as in reports like Balance Sheet, where it adds a new column to the report)
To access Auto Value Calculator in the amount field during voucher entry
At voucher entry and alteration screens, at a field where you have to select a master from a list. If the necessary account has not been created already, use this key combination to create the master without quitting from the voucher screen.

At all voucher entry screens in the Amount field
4.
D
To delete a voucher

To delete a master

To delete a column in any columnar report

(if it has not been already assigned a different function, as explained above)

At Voucher and Master (Single) alteration screens. Masters can be deleted subject to conditions, as explained in the manual.

All the reports screen which can be viewed in columnar format


FOR MORE FULL KEYS LIST WITH EXPLANATION CLICK BELOW LINK 
CLICK HERE TO DOWNLOAD TALLY ERP SHORTCUT KEYS LIST HAND BOOK IN WORD

Selected Notified Defonitions Under The Companies Act, 2013
1 Abridged  Prospectus
> Memorandum
> Salient features of prospectus
> SEBI

2 Associate Company
> Significant Influence(20%)
> Includes Joint Venture Company
> 20% of total share capital
Total sh cap means i) Paid up sh capital and ii) Convertible Preference sh capital
> Shares held as fiduciary capacity --> Not counted

3 Body Corporate or Corporation 
> Includes Company Incorporated out side India but does not include
i) Co-Operative society @ Cooperative Societies and
ii) Any Other body corporate (Not company @ this Act)--> CG may by nootification specify

4 Financial Statement
i) BS
ii) P & L
iii) Cash Flow Statement
iv) Statement of changes in equity
v) Any explanatory note annexed to
w.r.t OPC, Small Company and Dormant Company- Cash Flow Statement Not

5 Foreign Company
> Any company or Body Corporate Incorporated Outside India
i) Place of Business in India---> Itself or through an agent, Physically or through eloctronic mode and
ii) Conducts any business activity in India in any other manner

6 Free Regerves
> As per latest Audited BS of a company---> Are available for distribution as dividend
Following Are not counted
i) Unrealised gains
ii) Notional gains or Revaluation of assets

7 Key Managerial Personnel
i) CEO or the MD or The Manager
ii) The CS
iii) WTD
iv) CFO and
v) Such other officer as may be prescibed

8 Officer
> Director, Manager, Key Managerial Personnel or any person

9 Officer Who is in default
i) WTD
ii) Key Managerial Personnel
iii) If any specified director-that director,  If no specified director---> All directors
iv) Any person who under immediate of board or any key managerial personnel
v) Person----> Advise----> Board
Professional capacity----> Not
vi) Director---> Participates in proceedings
vii) Issue or Transfer of any shares
a) Share transfer agents
b) Registrars
c) Merchant Bankers

10 Private Company
> Min---> 100000 or More
i)  Restricts transfer of shares
ii) Except OPC---> Others Maximum 200 Members
>  Incase of Joint Holding---> Counted as one
> Employees and past Employees are not counted
iii) Prohibits Public invitation/Offer

11 Promoter
a) Prospectos or Annual Report
b) Control Over affiars of the company
c) Person controls---> BOD
> Professional Capacity---> Not treated as promoter

12 Public Company
a) Not a Pvt Company
b) Min 500000 Or More
c) Subsidiary of Public Company

13 Realted Party
i) Director or his Relative
ii) A Key Managerial Personnel or his relative
iii) A Firm---> Director, Manager or his relative---> Partner
iv) Pvt Company---> Director, Manager or his RELATIVE---> Director
v) Public Company---> Holding> 2% of shares along with family
vi) Any Body Corporate---> Controlled by one of Director
vii) Any person---> Controlled by one of Director
viii) Any Company
A) HC, SC or Associate
B) Subsidiary of HC
ix) Such other person as may be prescribed

14 Small Company
> Other than Public Company
> Sha capital 5 Crore
> Turnover 20 Crore
Exception
Not applicable to
a) HC or SC
b) A Company U/S 8
c) A Company or Body Corporate governed by any special Act

15 SC or Subsidiary
i) Controls Composition of the BOD
ii) Controls > 1/2 Sha capital
a) A is SC of B, A controls C, C also SC of B
b) Control BOD- At it's Discretion can appoint or remove all or majority of the directors
c) Company includes any body Corporate
> Shares held as fiduciary capacity---> Not counted
> Sha capital means
i) Paid up equ sha capital and
ii) Convertible Pre sha capital

16 Employee Staock Option
> Option given---> Director, Officer or Employees of Same or HC or SC  ----> Right to Purchase or subscribe shares @ a future date @ predetermined price

17 Sweat Equity Shares
> Equity Shares---> Directors or Emolyees----> @ discount or for Consideration other than cash------> For Providing Know-How or making available rights in the nature of intellectual property rights or Value additions, By whatever name called

FOR MORE DOWNLOADS CLICK BELOW LINK
CLICK HERE to DOWNLOAD CA Final Law Short Notes for November 2015 in EXCEL 

CA IPCC & Final May 2015 Results date officially announced.

(Date Declared) CA IPCC And CA Final Result Date May 2015. Recently on 17 May 2015 CA IPCC and CA Final May 2015 Exams are completed and Here we are providing CA Final May 2015 Expected result Date and CA IPCC May 2015 Expected Result Date. Check Complete Details For CA IPCC & CA Final May 15 Results From Below.
ICAI Officially Announced CA Final Result Date May 2015. Result will be Declared on 16 July 2015. Check result from CA RESULTS OFFICIAL WEBSITE. CA Final Result of May 2015 Exams will be declared on 16 July. Students are receive there results on Email Id and Registration of Email ID’s will Start on 13 January 2015. CA Final Result Day is very memorial day for every CA Final Student he did’t Forget this day activities. Every CA Final Student is Waiting for CA Final Result and today we are providing CA Final Exact Result Date. CA Final Result Date will Be Available As Soon Possible.
Check – CA IPCC Result Date May 2015 – caresults.nic.in
The result of the Chartered Accountants Final Examination held in May, 2015 and Common Proficiency Test (CPT) held in June, 2015 are likely to be declared on Thursday, the 16th July, 2015 around 2.00 P.M. 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 in the case of Final Examination and candidates securing a minimum of 60% and above marks and upto the maximum of 10th Rank in the case of Common Proficiency Test and in accordance with the decision of the Examination Committee) on all India basis will be available on the following website:

CA IPCC And CA Final Expected Result Date May 2015
CA Final May 2015 Result are likely to be declared on Thursday, the 16th July, 2015 around 2.00 PM and CA IPCC May Attempt Result is Announced in the month of August. i.e CA IPCC May 2015 Result is Declare in first weak of August 2015. Keep visit to our site for more latest updates.
CA Final Result is Announced Check from Below link
http://www.caresults.nic.in
Arrangements have also been made for the students of Final Examination and Common Proficiency Test (CPT) desirous of having results on their e-mail addresses to register their requests at the above website, i.e., http://www.caresults.nic.in from 10th July, 2015. 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.
In addition to above, it may be noted that for accessing the result at the above website i.e. http://www.caresults.nic.in the student shall have to enter his registration no. or PIN no. alongwith his roll
number.
Further, facilities have been made for students of Final Examination and Common Proficiency Test (CPT) held in May/June, 2015 desirous of knowing their results with marks on SMS. The service will be available through India Times.

For getting results through SMS, students should type:
i) for Final Examination result the following
CAFNL(space)XXXXXX (Where XXXXXX is the six digit Final examination roll number of the candidate)
e.g. CAFNL 000128
and send the message to:
58888 – for all mobile services – India Times


CLICK HERE TO DOWNLOAD CA IPCC & FINAL RESULTS DATE IPCC OFFICIAL CIRCULAR 

CBDT has notified New Income Tax return forms for AY 2015-16 vide notification  49/2015 dated 22.06.2015.The original forms were released on 15-04-2015 and revised forms has been issued after two months .No major changes has been made in revised forms and more or less they are similar to Form issued for AY 2014-15.However few changes which have been introduced earlier this year has been twisted and a new form ITR-2A has been introduced.




NEW REVISED ITR FORMS ITR-1 ITR-2 ITR-2A ITR-4S FOR ASSESMENT YEAR 2015-16 DOWNLOAD
The main changes are given below

1) Individuals having exempt income without any ceiling (other than agricultural income exceeding Rs. 5,000) can now file Form ITR 1 (Sahaj). Similar simplification is also introduced for individuals / Hindu Undivided Family in respect of Form ITR 4S (Sugam).

2) At present individuals/HUFs having income from more than one house property and capital gains are required to file Form ITR-2. It is, however, noticed that majority of individuals/HUFs who file Form ITR-2 do not have capital gains. A simplified form for these individuals / Hindu Undivided Family's, a new Form ITR 2A has been introduced which can be filed by an individual or HUF who does not have capital gains, income from business/profession or foreign asset/foreign income.

3) In lieu of foreign travel details, only Passport Number, if available, would be required to be given in Forms ITR-2 and ITR-2A. Details of foreign trips or expenditure thereon are not required to be furnished.

4) As regards bank account details in all these forms, only the IFS code, account number of all the current/savings account which are held at any time during the previous year will be required to be filled-up. The balance in accounts will not be required to be furnished. Details of dormant accounts which are not operational during the last three years are not required to be furnished.

5) An individual who is not an Indian citizen and is in India on a business, employment or student visa (expatriate), would not mandatory be required to report the foreign assets acquired by him during the previous years in which he was non-resident if no income is derived from such assets during the relevant previous year.

CLICK BELOW LINK AND GET GOVT OFFICIAL NOTIFICATION.

Software for preparing ITR 1 , ITR 4S in Java, Excel online for AY 2015-16 are now available for e-Filing. ITR 1 , ITR 4S can also be filled and submitted online after logging to the e-Filing website. E-filing of ITRs 2 and 2A will be enabled shortly.

You may prepare your ITR-1 or ITR-4S by filling the form online.First go to the website ,Incometaxindiaefiling.gov.in then login with your pan and password (if not registered the register your pan first) and go to e file  and select assessment year and Itr form number . Presently ITR-1 and ITR-4S is available only.



Please note that after amendment in ITR form  , now exempted income limit of Rs 5000 has been removed to  file ITR-1 ,so if you have Exempted income more than Rs 5000/- even then you may file ITR-1.

The Income Tax Department has provided free return preparation software in the downloads page as well as facility for online ITR submission for ITR 1  ITR 4S which are fully compliant with data quality requirements. However, there are commercially available software or websites that offer return preparation facilities as well. In order to improve the data quality received through in ITRs prepared through such commercially available software, various types of validation rules are being deployed in the e-Filing portal so that the data which is being uploaded can be validated to a large extent. Taxpayers are advised to review the same to ensure that the software that is used is compliant with these requirements to avoid rejection of return due to poor data quality or mistakes in the return. Software providers are strictly advised to adhere to these rules to avoid inconvenience to the taxpayers who may use their software.

ITR 1 & ITR 4S now in Java and Excel fomats free download


First posted by: Simpletaxindia.in