ANV & Company

27/08/2014

Here are the complete details for the DDA Housing Scheme 2014:

DDA Housing Schemes in Delhi:
1. 25034 New Flats Schemes launched by DDA on 1 September 2014. Flats are at Rohini, Dwarka, Narela, Vasant kunj, Mukherjee Nagar, Loknayak Puram and Sirsapur.
2. Application Form – Fee Rs.150 (Forms Available from 1st sep to 6 september)
3. Scheme shall be launched on September - 1st, 2014
4. if you own a small share in a joint property in Delhi, you would not be eligible to apply for a flat in the Delhi Development Authority’s (DDA) latest housing scheme 2014.
5. Last Date of Form Submission or Registration – 9th October
6. Draw Results on October 30th
7. Registration Fee: Rs.1 Lac for general, Rs.10000 for EWS, (Submitted at the time of Application form submission)
8. 811 Old Flats from previous housing scheme
9. 24,223 new flats including 700 EWS Flats
10. Total Flats Number – 25,034
11. Documents Required – Aadhaar Card Number ( Not Mandatory), Pan Card
Price/Cost of Flats – DDA Housing Scheme 2014:
EWS Flats (25 – 40 sqm) Rs.5.9 lac to Rs.11 Lakh
1 Bedroom LIG Flat (33-48sq mt) Rs.14 lac to Rs.22 Lakh
2 Bedroom MIG Flat (75 – 127 sq mt) Rs.42 lac to Rs.70 lakh
3 Bedroom HIG Flats (84 – 165 sq mt) Rs.60 lac to Rs.1.20 crore

No. of flats:
* 896 new constructions developed after 2010
* 22,627 one-bedroom and drawing room units
* 700 units under EWS category
* 811 units under old flats.

21/08/2014

Query: Whether the date of filing Income Tax Return for the Audit-able assessees for AY 2014-15 has also been extended?

Answer: No, CBDT vide its order u/s 119 of the Income Tax Act, 1961 dated 20.08.2014 has only extended the due date for obtaining and furnishing of the report of audit under section 44AB of the Act for Assessment Year 2014-15.
The date of filing Income Tax Returns remains intact i.e. 30th sep, 2014.
In our Opinion, the extension of TAR is just an eyewash because in absence of finalization of tax audit report, how we would be able to file Income Tax Return before 30/09/2014, till the time we are done with the task of doing the tax audit as there can be certain disallowances under different sections.
Also in case of companies, AGM is to be concluded before 30/09/2014 & without the Tax liabilities being finalized we won't be able to finalize the books.
Hence, despite the fact that CBDT had extended the date for OBTAINING & FURNISHING, in actual date has been extended only for uploading the tax audit report by November 30th 2014

21/08/2014

BSE seeks answers from Financial Technologies on discounted MCX stake sale:
Maharashtra : The BSE has sought a clarification from Financial Technologies (FTIL) on how its stake sale in MCX to Kotak Mahindra Bank at a discount to the market price would benefit the company's shareholders."...the company (FTIL) has informed that it has entered into a share purchase agreement with Kotak Mahindra Bank to sell 15% stake held in MCX for a consideration of approximately Rs 459 crore.

21/08/2014

Service tax dept may spoil your grand party:
Delhi : The next time you organise a grand function, be ready to face the taxman. The Central Board of Excise & Customs (CBEC) has directed its officers to check for tax evasion by keeping an eye on events which receive wide media coverage, such as an ostentatious wedding or other such functions.Usually, the service provider pays the tax and recovers the amount from the recipient. So, if somebody hires an event manager for a function, the service receiver should pay tax to the service provider, along with the payment of his fee. Even services such as setting up pandals and shamianas are taxable.

13/05/2014

http://www.taxmann.com/topstories/104010000000041713/vodafone-approaching-arbitrational-panel-has-led-to-withdrawal-of-conciliation-offer-finmin-rejects-news-reports.aspx

CORRECT FACTUAL POSITION AND CIRCUMSTANCES THAT LED TO GOVERNMENT’S PROPOSAL TO WITHDRAW FROM CONCILIATION MEASURES INITIATED EARLIER WITH VODAFONE INTERNATIONAL HOLDINGS B.V.(VODAFONE)

03/05/2014

World's 12 biggest economies in terms of purchasing power parity
China is set to overtake the U.S. as the world's number one economy, while India has jumped into third place ahead of Japan, according to a new study from the world's leading statistical agencies.

28/04/2014

India acts tough on black money, may levy 30% withholding tax on Swiss investments:

In a bid to get Switzerland to act on a long-pending demand for information on unaccounted money of Indians in Swiss banks, New Delhi is considering a 30% withholding tax on all kinds of payments made from India to individuals, incorporated entities and permanent establishments located in the European nation.The move comes barely a fortnight after India agreed with the US to share information about American citizens and residents holding financial accounts in India in order to avoid all Indian financial institutions operating in the US being subjected to a similar 30% withholding tax when they bring back funds of their Indian clients.

28/03/2014

Was waiting for this from a long time... Now we can access Microsoft office on Ipad on the go... :)


http://timesofindia.indiatimes.com/tech/tech-news/Microsoft-makes-Office-for-iPhone-and-Android-free/articleshow/32842564.cms

Microsoft has made its Office apps for iPhone and Android, completely free to use.

27/03/2014

PE's may get flexibility in pricing exits from companies they have invested in:

Delhi : Private equity investors may soon get the flexibility in pricing their exits from companies they have invested in as the Reserve Bank of India has agreed to drop stringent valuation norms introduced barely two months ago that were seen to be hindering deals. Adverse reaction from the foreign investment community at a time when the country is keen to attract stable foreign capital prompted a re-think on the earlier norms, which prescribed a single method of valuation in the case of unlisted companies.

27/03/2014

Arvind Brands buys 49% stake in Calvin Klein India:

Karnataka : Apparel firm Arvind Brands and Retail on Monday said the company has bought 49% stake in Calvin Klein India for around Rs 90 crore.According to the agreement with PVH Corp, the owner of the Calvin Klein trademarks worldwide, Arvind will distribute Calvin Klein jeans apparel and innerwear products in India. The company is targeting R500 crore turnover in three years from the brand as against the current R125 crore.The Rs 1,800 crore Arvind Brands already has a partnership with PVH that licences PVH’s Tommy Hilfiger, Arrow and Izod brands in India.

24/03/2014

Tamil Nadu government slaps Rs 2,400 crore tax demand notice on Nokia:

Delhi : Nokia India found itself battling on a new front with tax authorities after it received a Rs 2,400-crore claim from the Tamil Nadu government alleging that the mobile handset maker avoided taxes on devices sold within India by masking them as exports. Nokia India filed a writ petition in the Madras High Court on Friday against the notice after talks with taxmen, that have been going on for the last fortnight, failed.
SEBI

24/03/2014

RBI sends bank licence applicant list to EC; IDFC, L&T Finance, LIC Housing top contenders:

Maharashtra : Infrastructure Development Finance Co, L&T Finance Holdings and LIC Housing Finance could be in the running for new banking licences along with Reliance Capital, JM Financial and even India Post. That's according to a list of applicants' names that qualify for licences which has been sent to the Election Commission by the Reserve Bank of India.