May 282013

The Income-tax efiling website ( has released the utility for filing the returns using ITR-2.

This return form is to be used by an Individual or a HUF (Hindu Undivided Family) whose Total Income for Assessment Year 2013-14 includes-

1) Income from Salary/pension. or

2) Income from House property ; or

3) Income from Capital Gains; or

4) Income from other sources ( including winning from Lottery and Income from race horses)

In case where the Income of any other person (spouse/minor child, etc) is to be clubbed with the income of the assessee, this return form can be used where such income falls in any of the above categories.

Assessees having “Income from Business/Profession” cannot use this form.

Click the link below to download the form ITR-2 e-filing utility.


Jun 072012

The Reserve Bank of India vide its Notification No DBOD. No. Dir. BC.107/13.03.00/2011-12 dtd 5th June 2012 has issued a new directive to all banks with regard to charge of foreclosure/prepayment penalties in respect of Home loans taken on floating rate method.

As per the above notification, the banks will not be permitted to charge foreclosure charges/pre-payment penalties on home loans on floating interest rate basis, with immediate effect.

The relevant Notification is reproduced below :-

Download (PDF, 431B)


Jun 072012

The Finance Act 2012 had proposed major changes in the Service Tax (including the negative list approach) provisions. As the Finance Act has received the assent of the President of India, the new provisions have come into effect. Accordingly, the Government of India has notified the dates from which these new provisions will be made applicable. As per this notification, the new service tax provisions will be applicable w.e.f 1st July 2012.

The relevant notification is reproduced below :-

Download (PDF, Unknown)


B S Sridhar & Co., Contact us @ 91-44-45540180 / 91-90804 33131. 

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