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Articles Archive for July 2010

Utility softwares »

[27 Jul 2010 | No Comment | ]

Microsoft outlook is one of the best mail client available. outlook provides a plenty of options for customization, We can categorize email by creating a separate folder according to the nature of mails. Instead copying or moving each mail from inbox manually ,out look allow you to move automatically by setting rules. Even you can forward a mail  received from a particular sender  to another mail id. You can also specify so many conditions to the incoming mails  that is to be forwarded like, mail from a particular email id, or mail with a …

GST »

[23 Jul 2010 | No Comment | ]

GST was proposed to implement on April 2010, but due to some arguments between state and central Government with regards to revenue loss and compensation to the state government, the implementation is postponed to April 2011, but this time Central government is keen to implement GST. Honorable finance minister Pranab Mukarji ensured the compensation to state due to revenue reduction on implementing GST. Yesterday finance minister announced a three year road map.

Banking »

[21 Jul 2010 | One Comment | ]

As a part of implementing cheque truncation in India, Reserve bank of India in has decided not to accept cheque with alteration or correction for clearing. Altered cheques will start rejecting with effect from 01.12.2010. At present the regulation is applicable to Delhi only. The notification is applicable for a cheque cleared under image based clearing system (CTS).This is not applicable for cheques clearing under other clearing arrangement.
As per RBI “Any alteration even if countersigned except a counter signed correction of date shall be returned if presented in clearing through …

Banking »

[19 Jul 2010 | No Comment | ]
Cheque truncation- CTS or image based clearing system –ICS in India

Modern business demands faster cheque clearing system to meet immediate financial requirement and to make faster payments. Keeping this in mind Reserve bank of India has introduced many fast fund transfer system Like RTGS, EFT, ECS. However conventional method of issuing …

Income tax »

[13 Jul 2010 | No Comment | ]

TCS is another tax collection mechanism by govt to ensure regular flow of income to the govt and to widen the scope of income tax. In TDS tax is deducted from receiver or deductee but in TCS tax is collected from buyer.
What is TCS?
It is a liability as per section 206C.TCS is the tax collected by the seller from the buyer at the time of debiting of amount payable by buyer or at the time of receipt of amount by way of cash, DD, cheque or any other means whichever …

Statutory »

[6 Jul 2010 | 5 Comments | ]

Employees’ provident scheme aims the old age income security; protect members and their dependent   from stoppage, reduction of earnings due to sickness, maternity, injury, unemployment and death. It is essential that each employee should know their right to get the maximum eligible benefit from EPFO. Hope the post will help you know your rights better.
1.  Right to be a member of Provident fund scheme, EDLI and Pension scheme if he is fulfilling the following conditions.

Employee must be working for a covered establishment. That is he is working for one of …