Document delivery by electronic mode: A relief through the Green Initiative

Document delivery by electronic mode_A relief through the Green Initiative


Finally, as a move to relieve the Corporate of huge financial burden of sending physical documents such as notices etc. by Registered Post instead of Under Posting Certificates after it being discontinued by the Postal Authorities, the Ministry of Corporate Affairs has come up with a Green Initiative of permitting the service of documents upon the Shareholders through e-mail or other permissible electronic modes instead of physical mode. The move is not only a Green Initiative but also a big boon for the corporate incurring huge financial expenditures on the printing and dispatch of documents from time to time and a directional approach towards the IT revolution.


The ministry has utilized the provisions of Section 2, 4, 5 and 81 of the Information Technology Act 2000 which provides for an overriding effect to the provisions of the IT Act and calls for adequate compliance of law in case the requisite information which otherwise would have been made available in writing, typewritten or printed form, if such information is made available in electronic form. Similarity the authenticity of digital signatures has been provided for herein.


The notification further provides that the company has to take consent from members for sending the notice / documents to them through email and has to provide a forum for registering and changing the email from time to time. Others who do not opt for electronic mode of information or whose email is not registered would be served information in the manner as provided in section 53 of the Companies Act, 1956.

Know your Income Tax Refund Status

Click Here to know your Income Tax Refund Status

REFUND STATUS

Refund Banker

The 'Refund Banker Scheme,' which commenced from 24th Jan 2007, is now operational for Non-corporate taxpayers assessed in Delhi, Mumbai, Kolkata, Chennai, Bangalore, Bhubaneswar, Ahmedabad, Hyderabad, Pune, Patna, Cochin, Trivandrum, Chandigarh, Allahabad, and Kanpur.

In the 'Refund Banker Scheme' the refunds generated on processing of Income tax Returns by the Assessing officers/ CPC-Bangalore are transmitted to State Bank of India, CMP branch, Mumbai (Refund Banker) on the next day of processing for further distribution to taxpayers.

Refunds are being sent in following two modes:
1. RTGS / NECS: To enable credit of refund directly to the bank account, Taxpayer's Bank A/c (at least 10 digits), MICR code of bank branch and correct communication address is mandatory.
2. Paper Cheque: Bank Account No, Correct address is mandatory.

Taxpayers can view status of refund 10 days after their refund has been sent by the Assessing Officer to the Refund Banker - by entering 'PAN' and 'Assessment Year'.

Other Refunds

Status of 'paid' refund, being paid other than through 'Refund Banker,' can also be viewed at www.tin-nsdl.com by entering the 'PAN' and 'Assessment Year'.

'Refund paid' status is also being reflected in the 'Tax Credit Statements' in Form 26AS.

Score more in Cost A/cs & Financial Management

Score more in Cost A/cs & Financial Management. Trust me its one of the most scoring papers and you need not be afraid of it. I was most scared for CA&FM when i entered PE2  but towards the end i realised it was nothing more than an infamous rumour that its difficult.

The key to score marks here is your working notes. You can solve the questions 100% correct but without proper working notes you will not get anywhere more than 50% marks.


Cost Accounting- undoubtedly one of the trickiest subjects of PCC/IPCC syllabus. Mind you i did not say difficult. The first and foremost requirement to crack this subject is a concentrated mind. Questions are undoubtedly tricky but its just a matter of seconds. If it clicks then its lollypop stuff. If it doesn't click then.......!!!

1. Practice and practice and practice. The only way to clear this subject is to solve as many different types of questions as you can. And keep on revising. You cant give this subject a break of 10-15 days. Then again you will be blank and will have to start from the scratch again. So keep on solving a few questions of all chapters on a daily or at least weekly basis.

2. Read the question at least TWICE before solving. A single word in the question can change the answer completely. So while reading the question , make sure you underline the key words. If you miss, then whole solution can go wrong . Do not throw away marks in excitement.

3.Patience holds the key. If you find a very twisted questions giving no clue then don't leave it. Read the questions thrice..still  not clicking then once more. The clue is hidden in the question itself most of the times. So keep on reading the question with utmost concentration.

4.On the eve of the exam day, make sure you solve at least 2 questions of each and every  chapter. With questions i mean the main questions  which contain the gist of the entire chapter. Preferably it could be from the scanner.

5.Do not ignore theory part at any cost. No need to read the book for theory as it has too much complex material in detail. Do theory from the compiler. Only and only compiler. You wont get any question out of that.

Financial Management- Syllabus is short. Nothing in comparison to Costing part. But its tougher than Cost.

1. Do Capital budgeting and Cost of Capital well and 50% is done. Cash flow is already done in Accounts part so need not worry. Fund flow is just the same thing with a different format. Concept is the same. So it wont bother you much. So while doing Cash flows in Accounts part keep in mind that you are preparing it for two subjects and not one.

2.In Finance part what matters is the concept. A single question can have as many as 3 different answers all solved with different methods and be rest assured all 3 are correct. Do not get confused if your answer doesn't match with the 1 given in the book. Just see if your concept is correct or not. It needs to be depicted in your working notes and you will get full marks.

3.For theory part, i would suggest you again to go for compiler only.

Hope this helps you people. Best of luck.

Best regards,

CA Naveen Kumar  Agrawal