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 …

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 …

As per notification from Goverment of India Ministry of Labour and employment ,ESI wages ceiling limit has been increased from current limit 10000.00 to 15000.00, These changes take effect from 01.05.2010, You can download the notification from ESIC website.
This decision will cover more employees under the scheme,  Employer will have an extra compliance burden for deducting esi contribution  and will have to pay extra expenses towards esi  employer contribution for staffs getting salary  from 10000 to 15000 apart from previous contribution up to 10000

Under Tax deduction at source scheme ,as prescribed in income tax act every person is responsible for payment of any specified sum to any person is required to deduct  tax at source and deposit it with central govt with in specified time. if prescribed limit of payment do not exceed there is no need for deduction of tax
In the Budget 2010-11  , it is proposed to increase the threshold limit in sections 194B,194BB,194C,194D,194H,194I,and 194 J to reduce the tax burden of tax payers. There is no change in tax rate …

Recently one of my readers asked me the question how to convert numeric value in to word, This is an important function everybody looking for in excel but unfortunatly there is no ready to use formula, function in excel. however  microsoft provides a visual basic function script in their support section. This script is useful for spelling number in to US dollar.
Accountinghead is converted this function script for the use of indians  with the help of some VB experts.  Letus do it with easy 5 steps , by using this script you can convert …