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Presentation on theme: "We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like."— Presentation transcript:

1 We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like a slice of a wholesome pie. NEWSLETTER –JULY 2013 TM

2 INDEX Direct Taxation Indirect Taxation Corporate and Other Laws International TradeInternational Statutory Due Dates for July 2013StatutoryDueDatesJuly Newsletter –July 2013 TM

3 DIRECT TAXATION IndexIndex CII for 2013-14 raised by 10% The CBDT has specified the value of Cost Inflation Index (CII) for 2013-14. This year it is 939 as against 852 last year (i.e. 10.2% increase as compared to last year). The index is useful for income tax assesses in computation of tax on Long Term Capital Gains. CII helps to reduce the inflationary gains tax payout for taxpayer. Newsletter – July 2013 TM

4 INDIRECT TAXATION IndexIndex Custom Duty on gold import increased The Central Government vide Notification No.31/2013 dated 5 th June 2013 rate of customs duty on import of gold has been increased from 6% to 8% w.e.f. 5 th June 2013. Newsletter – July 2013 TM

5 CORPORATE AND OTHER LAWSIndexIndex Firms must give declaration before raising Public Funds All newly incorporated firms and those in the process of getting registered under the Companies Act 1956 will now have to file an additional declaration saying that they will never raise money from public without meeting the norms of SEBI, RBI and other authorities. The declaration is to be filed by the directors and initial shareholders of the company. In case of already registered firms, this declaration would be required whenever the company changes the objects of business. The move is aimed at introducing checks within the system to prevent chit fund scams. TM Newsletter – July 2013

6 INTERNATIONAL TRADEIndexIndex Global FDI flows at $1.4 trillion Global foreign direct investment flows may inch up by 3.6 % to 1.4trillion in 2013 after falling 18.2% last year to $1.35 trillion due to economic fragility and policy uncertainty, the United Nations Conference on Trade and Development (UNCTAD)said so while warning that capital flows could reverse if financial markets continue to remain volatile and economic growth slows. As global economy recovers and investors regain confidence, transnational corporations may convert their record level of cash holdings into investment and push up FDI flows to 1.6 trillion in 2014 and further to 1.8 trillion in 2015, the UNCTAD said in its World Investment Report. Newsletter – July 2013 TM

7 STATUTORY DUE DATES FOR JULY 2013 Index Index Statutory Due Dates Calendar for July 2013 Newsletter – July 2013 Due DateStatutory Compliance 5 th July 2013Payment of Service Tax/ Excise duty 7 th July 2013Payment of TDS 15 th July 2013Payment of Provident Fund contribution/ Profession Tax 15 th July 2013Filing of Quarterly TDS Return ( April to June Qtr) 21 st July 2013Payment of ESIC/ MVAT 31 st July 2013Due date of filing Return in case of assessee having incomes from Salary, Rent, Capital gain, Interest, or Business (for those where tax audit is not mandatory) TM

8 Get in Touch www.nyaasa.com +91.98228 70043 +91.98231 18326 +91.20.3234 1738 +91.20.6500 8738 contact@nyaasa.com

9 Newsletter –July 2013 THANK YOU ! TM


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