DUE DATE FOR 26QA EXTENDED UPTO 31.12.2005

DUE DATE FOR 26QA EXTENDED UPTO 31.12.2005

With Regards,

 

Ashwin Nagar
9825781065

Excel Add-in to convert amount in figures to words by Premal

Gentlemen:
AmtInWords.xla is attached to this mail. It is an MS Excel Add-in written by me to convert amount available in figures to words.
Installation
Copy the attached file to the folder where excel stores the add-ins. (To know where excel stores the add-ins, open any workbook, click on Tools - Add-ins - Browse)
Then open an excel workbook. Click on Tools - Add-ins - Browse - Give the path to this Addin - Ok
Usage
You can use the functions AmtInWords and AmtInWordsUS in any worksheet. The syntax is:
=AmtInWords(decimal number/cell reference, [currency code])
=AmtInWordsUS(decimal number/cell reference, [currency code])
Examples follow:
=AmtInWords(10000000)
=AmtInWords(123456.77)
=AmtInWords(C4)
=AmtInWordsUS(B3) ' Shall give the amount in millions (US format)
=AmtInWordsUS(B3,"USD") ' Shall give the amount in millions (US format) and in US currency (Dollars)
=AmtInWords(C4,"GBP") ' Shall give the amount in lakhs and in UK currency (Pounds)
Notes
The system shall NOT give you any warning/error if you use:
=AmtInWords(C4,"USD") ' Amount in lakhs and in US currency (Dollars)
OR
=AmtInWordsUS(C4,"GBP") ' Amount in millions and in UK currency (Pounds)

At present 3 currency codes are supported:
INR (the default ... not required to be given separately)
USD
GBP
Let me know how you find it and/or your suggestions.
Regards
Premal

Non Refundable Charges for Empanlement by Bank of Rajasthan

Dear Fellow Professionals,

Please go through the attachment note the bold sentence.(Emphasis supplied). A nationalised bank is inviting application for empanelment of concurrent auditors with processing fee alongwith the application form. It is high time we all should protest such actions.

It is a shame on the entire profession. Had it been a refundable Earnest Money Deposit, we could understand. What is the logic of asking for non-refundable processing fee? Are we chartered accountants are begging before this bank or other banks for assignments and all so that they are forced to limit the enquiries? It is utter non-sense. We all should unite and tell the bank that this is not the way to assign an audit to a noble professional who is specially trained and experience for this job. ICAI should take up this matter with the bank authorities. It is just like equating a chartered accountant with a street vendor. The bank should be coming to us for getting the audits done and not the other way round and ask for a processing fee also!!!. Ridiculous!!. STAND UP AND SAY NO!

Suppose, out of around 65000 CA's, at least 2000 all over India apply for the same, the bank will be getting Rs. 40.00 lakhs, which will be sufficient for them to pay the concurrent audit fee for at least 40 branches for one year. What a brilliant idea!!!

Your opinion on this is highly appreciated.

A POEM OF ACCOUNTS

A POEM OF ACCOUNTS

IN THE JOURNAL PAPER OF MY HEART,
I HAVE WRITTEN A JOURNAL ENTRY

DEBITING MY LOVE & CREDITING MY AFFECTION,
NOW PARTNER , YOU WRITE THE NARRATION.

YOUR BEAUTY IS CAPITAL OF OUR BUSINESS,
AND YOUR EYES ARE STOCK IN TRADE.

NOW LET US ENTER INTO A TRANSACTION,
WITHOUT PROVIDING DEPRECIATION.

YOUR FIRST LOVE , I HAVE ALREADY INDICATED,
ON THE LEDGER FOLIO COLUMN.

ANYWAY OUR REALIZATION ARE BASED ON
DOUBLE ENTRY SYSTEM.

OUR LOVE IS REAL AND TANGIBLE,
WHICH CAN BE REALIZED,
INTEREST ON THE SAME CAN BE CAPITALIZED.

PARTNER YOU ARE LIKE A CONTRA - ENTRY,
YOU ARE ON MY DEBIT SIDE & CREDITSIDE
BOTH AT THE SAME TIME

CAN IT BE POSTED INTO LEDGER ?
THAT YOU DECIDE.

AND SO MY PARTNER , NOW LET US RECTIFY
ALL OUR ERRORS AND TOTAL THE TRIAL BALANCE OF OUR AFFAIRS
AND EMOTIONS

A POEM OF ACCOUNTS

WITHOUT MAINTAING ANY SUSPENSE A/C AND
ANY DIFFERENCE IN THE TRIAL BALANCE

IN THE BALANCE SHEET OF OUR LIFE.
OUR CHILDREN WILL BE ASSET & LIABILITIES
IF THEY ARE BOYS , SHALL WE CALL
THEM SUNDRY DEBTORS ?
IF THEY ARE GIRLS WE CALL THEM
SUNDRY CREDITORS.
BUT IF WE HAVE A BOY & A GIRL,
OUR BALANCE SHEET WILL TALLY AUTOMATICALLY
AND THE AUDITOR WILL CERTIFY LIKE THIS,
THE ACCOUNTS SHOW A TRUE & FAIR VIEW OF LOVELY
BUSINESS CONDUCTED DURING LIFE IS ACCOUNTS.

no penalty for delayed payment of service tax in Mahrashtra and Gujarat

As you are aware the States of Maharashtra and Gujarat have been adversely affected by the impact of unprecedented rains resulting in widespread water logging, floods and landslides.
2. Board have received representations from certain associations of service tax payers in these states requesting for extension of date for depositing service tax for the month of July, 2005, due for payment on 5th August. The matter has been examined.
3. Section 75 of the Finance Act, 1994 envisages payment of interest on delayed payment of service tax. Section 76 provides for imposition of penalty in cases of delayed payment of service tax. Section 80 specifically mentions that no penalty shall be imposed under section 76 for delayed payment of service tax if the assessee proves that there was reasonable cause for the delay in payment of service tax within the due date.
4. In view of the unprecedented rains and floods and consequent difficulties faced by the assessees in Mahrashtra and Gujarat, for delayed payment of service tax due for the month of July, 2005, paid on or before 20th August, 2005, you are advised to take a lenient view under section 80 and impose no penalty under section 76 of the Finance Act, 1994. This facility may be provided only for assessees who discharge their full liability for payment of service tax for the month of July' 2005 on or before 20th August, 2005.

Cost Inflation Index for Financial Year 2005-06

Dear friends,
This is to inform you that the Cost Inflation Index for the Financial Year 2005-06 is "497".
Not. 189/2005, Dated: August 12, 2005

Date of FBTs First Installment Payment extended

The date of Payment of First Installment of FBT has been extended to 31st August 2005.