RECOMMENDED MINIMUM SCALE OF FEES FOR VARIOUS KIND OF ASSIGNMENTS | |
| |
I) DEEDS/ AGREEMENTS | Rate |
| |
(a) i) Partnership Deed | Rs.6,000/- & Above |
| |
ii) Partnership Deed | |
(With consultation & Tax Planning) | Rs.10,000/- & Above |
| |
(b) Filing of Form with ROF | Rs. 2,500/- Per Form |
| |
| |
(c) Supplementary Partnership Deed | Rs. 2,500/- & Above |
| |
(d) Modification in the Deed | Rs. 2,500/- & Above |
| |
(e) Leave & Licence Agreement | |
i) Drafting | Rs. 5,000/- & Above |
ii) Registration& Modification | Rs. 2,500/- & Above |
(f) Gift Deed: | |
i) for Movable Properties | Rs. 5,000/- & Above |
ii) for Immovable Properties | Rs. 15,000/- & Above |
| |
(g) Trust Declaration Deed | Rs. 10,000/- & Above |
| |
(h) Drafting of Will: | English |
i) Simple | Rs. 10,000/- & Above |
ii) With Trust Planning | Rs. 15,000/- & Above |
| |
(i) Agreement to Sell | |
i) Agreement to Sell, Society formalities & related Documents | Rs. 20,000/- & Above |
ii) Only Agreement to Sell | Rs. 10,000/- & Above |
| |
(j) Documentation | |
i) Power of Attorney: Specific | Rs.7,500/- & Above |
ii) Power of Attorney: General | Rs.7,500/- & Above |
iii) Indemnity Bond- Affidavit | Rs.5,000/- & Above |
iv) HUF- Partition Deed | Rs.10,000/- & Above |
| |
| |
| |
II) INCOME TAX WORKS | |
| |
A. Filing of Return of Income | |
I) For Individuals / HUFs etc. | |
| |
(a) Filing of Return of Income | |
With Salary/Other Sources/Share of Profit. | Rs. 3,000/- & Above |
| |
(b) Filing of Return of Income | |
With detailed Capital Gain working | |
i) Less than 10 Transactions | Rs. 5,000/- & Above |
ii) More than 10 Transactions | Rs. 8,000/- & Above |
| |
(c) Filing of Return of Income | |
With Preparation of Bank Summary, Capital A/c and Balance Sheet | Rs. 5,000/- & Above |
| |
(d) Advance Tax Calculation | Rs. 2,000/- Per installment |
| |
| |
II) (a) Partnership Firms/Sole Proprietor | |
with verification of: | |
1) Method of Accounting | } |
2) Stock Valuation | } Rs.5,000/- Per Verification |
3) G. P. Ratio | } |
4) Expense Ratios etc. | } |
| |
(b) Small Proprietorship/ Partnership | Rs. 5,000/- Per Verification |
| |
( c) Minor's I. T. Statement | Rs. 3,000/- & Above |
| |
(d) Private Ltd. Company: | |
i) Active | Rs. 7,500/- & Above |
ii) Defunct | Rs. 5,000/- & Above |
| |
(e) Public Ltd. Company | Rs. 20,000/- & Above |
| |
B. Filing of Forms etc. | |
| |
(a) Filing of TDS/TCS Return (per Form) | (Quarterly Fees) |
i) With 5 or less Entries | Rs.2,000/- & Above |
ii) With more than 5 Entries | Rs.3,000/- & Above |
| |
(b) Filing Form No. 15-H /G(per Set) | Rs. 1,000/- & Above |
| |
( c) PAN/TAN Application | Rs. 1,500/- & Above |
| |
C. Certificate | |
(a) Other Certificates (Like Lower TDS Certificate, 115JB) | Rs. 5,000/- & Above |
| |
| |
D. Filing of Appeal etc. | |
| |
(a) First Appeal. | |
Preparation of Statement of Facts, Grounds of Appeal, Etc. | Rs. 10,000/- & Above |
| |
(b) Second Appeal (Tribunal) | Rs. 15,000/- & Above |
| |
E. FBT | Rs.3,000/- & Above per quarter including return |
| |
F. Defered Tax Calculation | Rs. 5,000/- & Above |
| |
| |
NOTE: | |
When Matters are referred to Counsel personal time will be billed seperately | |
| |
G. Assessments etc. | |
| |
(a) Attending Scrutiny Assessment/ Appeal | Rs. 3,000/- Per Visit subject to minimum Rs.5,000/- |
| |
(b) Attending Summons | Rs. 3,000/- Per Visit |
| |
( c) Drafting and Attending for Rectifications/ Refunds/ Appeal effects Etc. | Rs. 3,000/- Per Visit subject to minimum Rs.3,000/- |
| |
(d) I. T. Survey | Rs. 50,000/- |
| |
(e) T.D.S. Survey | Rs.20,000/- |
| |
(f) I.T. Search & Seizure | Discretionary |
| |
III) CHARITABLE TRUSTS | |
| |
(a) (i) Registration Under local Act | Rs. 10,000/- & Above |
(ii) Societies Registration Act | Rs. 10,000/- & Above |
| |
(b) Registration Under Income Tax Act. | Rs. 15,000/- & Above |
| |
(c) Exemption Certificate U/s. 80G of I. T. Act. | Rs. 15,000/- & Above |
| |
(d) Filing Objection Memo | Rs. 2,000/- & Above |
| |
(e) Filing of Change Report | Rs. 2,000/- & Above |
| |
(f) Filing of Various Forms | Rs. 2,000/- Per Form |
| |
IV) COMPANY WORK | |
| |
(a) Filing Application for Name Approval | Rs. 5,000/- & Above |
| |
(b) Incorporation of a Private Limited Company | Rs. 20,000/- & Above |
| |
( c) Incorporation of a Public Limited Company | Rs. 25,000/- & Above |
| |
(d)(i) Company's ROC Work, Preparation of Minutes, | |
Statutory Register & Other Secretarial Work | Rs. 3,000 Per Quarter |
| |
(ii) Assisting in Other Certificate | Rs. 3,000/- & Above |
| |
(e) Filing Annual Return Etc. | Rs. 5,000/- & Above |
| |
(f) Filing Other Forms Like: F-32, 18, 2 | Rs. 1,500/- & Above |
| |
(g) Increase in Authourised Capital | |
Filing F-5, F-23, including preparation of Slips | |
Pages for Memorandum of Association/ Article of Association. | Rs. 5,000/- & Above |
| |
| |
V) V.A.T./ PROFESSION TAX: | |
| |
A. Registration Work | |
| |
(a) Registration Under V.A.T. & C.S.T. | Rs. 10,000/- & Above |
| |
( b) Profession Tax Registration (PTR) | Rs. 1,500/- & Above |
| |
(c) Profession Tax Enrolment (per application) | Rs. 1,500/- & Above |
| |
B. Filing of Return (V.A.T.) | |
(a) Monthly Challans with Annual Return | Rs. 1,500/- + (Per Month) |
01 November 2010
ICAI Recommended Scale of Fees for various kind of assignment
12 October 2010
CFC- ACES- Update
Certified Facilitation Centres under ACES Project of the CBEC - (11-10-2010) | ||||||||||
|
--
Best Wishes
CA. V.M.V.SUBBA RAO
Chartered Accountant
Door No.24-2-1885,
I Floor, Flat No.5,
Siddivinayaka Residency, I Cross,
Central Avenue, MSR Nagar,
Magunta Layout,
Nellore-524 003
Andhra Pradesh
India
Mobile:+91 - 0 9390221100
+91 - 0 9440278412
e-Mail: vmvsr@rediffmail.com
vmvsr@yahoo.co.uk
http://pdicai.org/MyPage/203038.aspx
10 October 2010
Exposure Draft of Schedule XIV to the Companies Act, 1956
Exposure Draft of Schedule XIV to the Companies Act, 1956
[Last date for comments: Ocotber 15, 2010]
--
Best Wishes
CA. V.M.V.SUBBA RAO
Chartered Accountant
Door No.24-2-1885,
I Floor, Flat No.5,
Siddivinayaka Residency, I Cross,
Central Avenue, MSR Nagar,
Magunta Layout,
Nellore-524 003
Andhra Pradesh
India
Mobile:+91 - 0 9390221100
+91 - 0 9440278412
e-Mail: vmvsr@rediffmail.com
vmvsr@yahoo.co.uk
http://pdicai.org/MyPage/203038.aspx
09 October 2010
NEFT Remittance Details in BANK PASS BOOK- RBI NOTIFICATION
| Date: Oct 08, 2010 | Furnishing remitter details in pass book / pass sheet / account statement for credits received by customers through NEFT / NECS / ECS | |
|
--
Best Wishes
CA. V.M.V.SUBBA RAO
Chartered Accountant
Door No.24-2-1885,
I Floor, Flat No.5,
Siddivinayaka Residency, I Cross,
Central Avenue, MSR Nagar,
Magunta Layout,
Nellore-524 003
Andhra Pradesh
India
Mobile:+91 - 0 9390221100
+91 - 0 9440278412
e-Mail: vmvsr@rediffmail.com
vmvsr@yahoo.co.uk
http://pdicai.org/MyPage/203038.aspx
06 October 2010
FIRMS QUALIFYIING FOR MAJOR AUDIT FOR 2010-2011
FIRMS QUALIFYIING FOR MAJOR AUDIT FOR 2010-2011(C & AG) - SEE ATACHMENT
--
Best Wishes
CA. V.M.V.SUBBA RAO
Chartered Accountant
Door No.24-2-1885,
I Floor, Flat No.5,
Siddivinayaka Residency, I Cross,
Central Avenue, MSR Nagar,
Magunta Layout,
Nellore-524 003
Andhra Pradesh
India
Mobile:+91 - 0 9390221100
+91 - 0 9440278412
e-Mail: vmvsr@rediffmail.com
vmvsr@yahoo.co.uk
http://pdicai.org/MyPage/203038.aspx
02 October 2010
IndianCAs: exposure draft of Revised Schedule XIV -VINOD KOTHARI
|
IndianCAs: Why Does my Body Do That?!!
If your body is low on oxygen, your mouth opens wide and tries to suck more in. Yawning is a way to regulate the amount of carbon dioxide and oxygen in your blood. Unfortunately, yawns are nearly impossible to stifle.
Serious eye twitches can be a symptom of neurological disorders, but often there is a more mundane explanation. Common causes for eye twitches include stress, lack of sleep extended staring or eye strain. Before you get frantic, try reducing your stress level, cutting back on caffeine and catching up on sleep.
According to Dr. Plasker, our skin most often gets itchy because of dryness associated with the environment or over-washing. Water and soap can strip skin of its natural oils, thus sapping moisture. Face or body lotion should be able to keep these types of itches under control; also look for body washes and soaps labeled 'moisturizing'. If you still have itchy patches, you may be experiencing an allergic reaction to a chemical, plant, food, animal or drug. See an allergist if the itching is persistent.
If you've frequently got a case of the hiccups, try slowing down when you eat and drink, suggests Dr. Plasker. Doing either too quickly causes your stomach to swell; this irritates your diaphragm, which contracts and causes hiccups. You may also get hiccups in emotional situations or if your body experiences a sudden temperature change. In both of these cases, the hiccups are a result of a glitch in your nerve pathways, which is why a sudden scare - �which might shake up and reset your nerves - �can sometimes end an episode.
Those tiny bumps that cover your skin when you're cold or scared are actually a defense mechanism. Goose bumps occur when the arrector pili, a tiny muscle that connects the hair follicle with skin, contracts and makes the hair stand on end. If you had more hair - �like cavemen did - �the upright hair would trap air to keep you warm or make you look bushier and therefore more threatening to predators.
Sneezes happen when your body is trying to expel an irritant from the nasal cavity. If you have allergies, pollen or pet dander is usually to blame. If you have a cold, your body makes mucus to trap the virus, and sneezing helps force it (and the sickness) out of your body. An over-the-counter allergy or cold medicine helps suppress your reaction to allergens or reduce mucus production, which should prevent sneezing fits.
A cough is another mechanism your body uses to get rid of irritants. There are special cells along your air passage, says Dr. Plasker, that recognize irritants and force them out. Common colds, sinus infections and pneumonia all increase your body's mucus production, which triggers coughing. Smoking and asthma also tend to irritate the cells. To help cut down on chronic coughing, exercise regularly and practice good posture to keep your air passage open.
These sudden, super-painful muscle spasms can be blamed on several things, including dehydration or electrolyte imbalances - �often from strenuous exercise. After a demanding workout or an extra-long run, sip a sports drink to keep your system running smoothly. If you experience this type of cramping, walk around to help relieve the pain.
Shivering, says Dr. Plasker, is full-body muscle twitching. When your temperature drops too low, your body shakes all over in an attempt to generate heat. The only way to cure these kind of shivers is to get your temperature back to 98.6 Degree F.
Ear ringing, or tinnitus, can happen for two reasons. If you have fluid or an infection in your middle ear, you may hear a constant buzz. However, the more common cause is damage to the microscopic ends of your hearing nerves, which often happens when you're exposed to loud noises. To prevent permanent damage (and preserve your hearing), wear earplugs at concerts and sporting events - �or even when you mow the lawn.
As food, liquid and gas move through your digestive tract, your stomach muscles and intestines contract and cause rumbling noises - �borborygmi is the scientific name. Everyone's stomach makes noise during digestion, but if you have extra-loud rumbles, a teaspoon of olive oil or a cup of herbal tea with lemon may help ease them, says Dr. Plasker.
When there's consistent pressure on part of a limb - �like when you sit on your feet or rest your head on an arm - �the pressure squeezes your nerve pathways and scrambles messages sent to your brain. The mixed messages make you lose feeling in the squished body part because your brain has trouble telling it what to do. To prevent a case of pins and needles, avoid sitting or lying in positions that compress your nerves.
If you stand too quickly, suffer a blow to the head or are stricken by a migraine, there's a good chance you'll see stars as blood surges to different parts of your body. Generally these tiny flashes of light will fade in a few seconds. If you see stars for more than a few moments, you could have a tear or tiny clot in your retina, and you should consult a physician immediately.
Tax Audit Limit Alert
--
Best Wishes
CA. V.M.V.SUBBA RAO
Chartered Accountant
Door No.24-2-1885,
I Floor, Flat No.5,
Siddivinayaka Residency, I Cross,
Central Avenue, MSR Nagar,
Magunta Layout,
Nellore-524 003
Andhra Pradesh
India
Mobile:+91 - 0 9390221100
+91 - 0 9440278412
e-Mail: vmvsr@rediffmail.com
vmvsr@yahoo.co.uk
http://pdicai.org/MyPage/203038.aspx
01 October 2010
Indirect Taxes:Suggestions for Pre-Budget Memorandum
Indirect Taxes Committee Invites Suggestions for Pre-Budget Memorandum - 2011 - (30-09-2010) | |||||||
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29 September 2010
BUDGET MANUAL
Finance Minister Releases the First Budget Manual of Union Government
Union Finance Minister Shri Pranab Mukherjee released the first Budget Manual of the Union Government, here today. Releasing the Manual, the Finance Minister said that the Union Budget has evolved over the past six decades to reflect the strength of India's democratic processes in shaping its economy, and has emerged as a crucial tool for Public Finance Management. He said that this Manual is an attempt to bring together the entire Budget related activities and procedures etc. which were hitherto available in a dispersed manner in the form of executive instructions and guidelines . The Manual has been prepared by the Budget Division of the Department of Economic Affairs. Finance Minister Shri Mukherjee congratulated the Division for taking this initiative.
The Finance Minister said Budget Manual is a comprehensive document explaining in detail the procedures and activities connected with the preparation of Budget. Mr Mukherjee said that Budget Manual will serve as a guidance document to the officials involved in Budget making in the Finance Ministry as well as in other Ministries/Departments. He said that it is also expected to act as a good reference document for interested readers and stakeholders. He said that this document is an effort in the direction of fostering greater transparency and better understanding about procedures and systems relating to making of Union Budget.
At the outset, the Manual brings out the Constitutional provisions related to the Budget. It describes the contents of various Budget documents. The Finance Minister said that the Manual also deals with the Organizational aspects, roles and responsibilities of the Parliament, Parliamentary Committees and the responsibilities of various wings of the Executive in the Budget making process. The Union Government's accounting and classification systems have also been explained apart from the working of the Consolidated Fund of India, the Contingency Fund of India and the Public Account of India, the Finance Minister added.
Minister of State for Finance, Shri Namo Narain Meena alongwith the Secretaries of different departments of the Ministry of finance including Finance Secretary, Shri Ashok Chawla, Revenue Secretary, Shri Sunil Mitra, Expenditure Secretary, Smt. Sushma Nath, Secretary, Financial Services, Shri R. Gopalan, Secretary, Disinvestment, Shri Sumit Bose and Chief Economic Advisor, Dr. Kaushik Basu were also present on this occasion among others.
The core sections of the Manual explain the entire chain of activities related to Budget preparation right from the issue of Budget Circular in September to the Budget Day in February, including the processes of estimation of receipts and expenditure, their firming-up and finalization through the Pre-Budget Meetings and their compilation. The comprehensive calendar of Budget related activities, their timelines, details of the related duties and responsibilities of the officers and staff together with the Security and 'Lock-in' procedures have also been brought out. Finally the Manual deals with the Implementation and Reporting of various Budget announcements. There are also a series of Annexes which provide a holistic perspective on the related subjects. An attempt has been made to incorporate all the Budget related issues in the Manual so as to make it a self contained and one stop guidance document.
Text of the Finance Minister's address on the occasion is given below:
"I am pleased to participate in this function to release the Budget Manual for the Union Government. The Budget process of our country predates the Independence and has evolved over the past six decades to reflect the strength of our democratic processes in shaping our economy. It has emerged as a crucial tool for public finance management.
Budget was first introduced on 7th April, 1860, two years after the transfer of Indian administration from East-India Company to British Crown. The first Finance Member, who presented the Budget, was James Wilson. Mr. Liaquat Ali Khan, Member of the Interim Government presented the Budget of 1947-48. After Independence, India's first Finance Minister, Shri Shanmukham Chetty, presented the first budget of independent India on 26th November, 1947.
Toni Morrison, the famous author and winner of the Pulitzer and Nobel Prize for literature, had once stated, I quote-
"If there's a book you really want to read but it hasn't been written yet, then you must write it".
~Toni Morrison
The Union Government Budget Manual is one such book, the need for which has been felt for long. I am happy to note that the Budget Division has brought out this Manual. Large areas of the Budget making procedures and processes have not been in public domain, leading at times to some misinterpretations and conjectures. The Budget Manual will shed such misconceptions. I am sure this Manual will bring about greater transparency and better understanding about the Union Government Budget making procedures and systems.
The Manual attempts to outline the entire chain of events leading to the Union Budget. The purpose of this Budget Manual is to provide guidance and a training tool for the officers and staff engaged in the Budget preparation, not only in the Finance Ministry but in other Ministries/Departments as well.
Finally, I would also like to express my appreciation to the officials of the Finance Ministry for taking this initiative and completing the task of preparing the Union Government Budget Manual.
With these words I would now like to release the Budget Manual for the Union Government.
--
Best Wishes
CA. V.M.V.SUBBA RAO
Chartered Accountant
Door No.24-2-1885,
I Floor, Flat No.5,
Siddivinayaka Residency, I Cross,
Central Avenue, MSR Nagar,
Magunta Layout,
Nellore-524 003
Andhra Pradesh
India
Mobile:+91 - 0 9390221100
+91 - 0 9440278412
e-Mail: vmvsr@rediffmail.com
vmvsr@yahoo.co.uk
http://pdicai.org/MyPage/203038.aspx
28 September 2010
CENVAT- SPARES-DUMPERS-VEHICLES
Please note that CENVAT CREDIT is available on Components, Spares and Accessories of Motor Vehicles, DUMPERS & TIPPERS as per CBEC Notification No.29/2010 dt.24-09-2010.
Cenvat Credit (Fifth Amendment) Rules, 2010 - Amendment in rule 2
Notification No. 29/2010-Central Excise (N.T), dated 24-9-2010
In exercise of the powers conferred by section 37 of the Central Excise act, 1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32 of 1994), the central Government hereby makes the following rules further to amend the CENVAT Credit Rules, 2004, namely : –
1. (1) These rules may be called the CENVAT Credit (Fifth Amendment) Rules, 2010.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the CENVAT Credit Rules, 2004, in rule 2, in clause (a), after sub-clause (C), the following sub-clause shall be inserted, namely : –
"(D) components, spares and accessories of motor vehicles, dumpers or tippers, as the case may be, used to provide taxable services as specified in sub-clauses (B) and (C);"
--
Best Wishes
CA. V.M.V.SUBBA RAO
Chartered Accountant
Door No.24-2-1885,
I Floor, Flat No.5,
Siddivinayaka Residency, I Cross,
Central Avenue, MSR Nagar,
Magunta Layout,
Nellore-524 003
Andhra Pradesh
India
Mobile:+91 - 0 9390221100
+91 - 0 9440278412
e-Mail: vmvsr@rediffmail.com
vmvsr@yahoo.co.uk
http://pdicai.org/MyPage/203038.aspx
Empanelment of Concurrent Auditors
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