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New Rate of service Tax from 24.02.2009

Effective date of the reduction of the service Tax & Excise Duty SERVICE TAX REDUCED TO 10 % FROM 12 % Excise Duty Reduced By 2 % Notification from New Rate of service Tax from 24.02.2009 Basic rate =10% education cess =2 % of basic rate Higher en secondary cess : 1 % of basic rate total tax rate =10.30% of taxable amount of service. Applicable Date Service tax reduction from 12 to 10 and excise duty from 10 to 8 has been done by notifications dated 24.02.2009 so both are applicable from 24.02.2009

UTILIZATION OF INFORMATION - AIR

COPY OF- INCOME TAX INSTRUCTION - NO. 01/2009 - DATED 12-2-2009 Departmental Copy UTILIZATION OF INFORMATION IN THE ANNUAL INFORMATION RETURNS (AIRs) RELATING TO FINANCIAL YEAR. 2007-08 (ASSESSMENT YEAR 2008-09) AND SUBSEQUENT YEARS - REG The Board has considered the issues relating to the above and has decided that the information from the AIRs pertaining to financial year 2007-08 (Assessment year 2008-09) and subsequent years should be utilized in the manner laid down in paragraphs 2 to 8 below. Download complete instructions

IIFCL's 6.85 % 5 Years Tax Free Bonds

The 2nd tranche of Private Placement of 6.85% Tax free Bonds Issue The 2nd tranche of Private Placement of 6.85% Tax free Bonds Issue with 5 years Tenor and unconditionally and irrevocably guaranteed by Government of India for timely payment of principal and interest shall open on F ebruary 18, 2009 and close on March 6, 2009 . The deemed date of allotment shall be March 6, 2009. The Issue can be closed earlier/extended at the discretion of the Management of IIFCL. The deemed date of allotment shall also get extended in case of extension of the date of closure of the Issue. The face value of the Bond shall be Rs. 1,00,000 with minimum application size of 10 Bonds and thereafter in multiple of one Bond. The Company shall pay interest @ 6.85% on application money from the date of realization of the subscription upto one day prior to deemed date of allotment subject to TDS, if any. The Tax Free Bonds shall be issued in dematerialized form and listed on WDM Segment of BSE and NSE. for

Finance Budget 2009

Download Finance Budget 2009

Address Proof Card frm Post Office at Rs. 250

Working peoples often shift their houses. For them, it is difficult to produce an address proof issued by Govt with latest address. Our India post office has come up with a answer. Now you can get an Address proof along with your photo from India post. Since the ID proof is issued by India post which is a central government organization, it is similar to Govt ID cards like Driving license, Voters ID etc. It can be used for opening bank accounts, for getting telephone/internet connections etc.

Deduction u/s 80C - 2009

Table of 80C Scheme U/S 80C Applicable to Cap & Other conditions to be complied with Life Insurance premium Individual (spouse and children) and in case of HUF any member of family premium (during the year) should not exceed 20% of the capital sum assured Amount actually paid during the year. Contribution by an employee to Recognised Provident Fund employee Contribution made in Recognised Provident Fund or a Statutory Fund, approved superannuation fund by the Central Govt. only. Public provident fund Individual Safest way to invest current rate of interest on PPF is 8% which is also tax exempt Repayment of loan Individual & HUF loan taken for purchase or construction of house( residential) Deduction of principal amount only Tuition Fees Individual Deduc

Procedure for obtaining Permanent Account Number (PAN)

Application for PAN shall be made in Form 49A: Application Q. Where should PAN application be submitted? Ans. Application can be submitted to any of the TIN-FCs or PAN Centres managed by NSDL or it may be couriered to PM Mittal & Co.(contact http://taxkiller.in/index.htm ) Q. Enquiry about the status of application? (i) Enquiry regarding the status of application shall be made by accessing NSDL-TIN website at the “Status track” option and quoting your unique 15-digit acknowledgement number after three days of your application. (ii) You can also obtain status of your application through SMS (Short messaging service) using mobile phones. For this, you have to type the word “PAN” followed by your 15-digit acknowledgement number and send it to 53030. For example: SMS PAN 012345678901234 to 53030. Q. Which documents will serve as proof of identity and address for applicants other than individual and HUF ? List of docum