Who are the gazetted officers in India?

First of all a gazetted officer must be a government official.

In India, a official Central Government Publication named Gazette publishes the promotions of certain government official. Those officers whose name appears in Gazette are termed as Gazetted Officers.

Indian Govt has employees classified as class 1 to class 4. All class 1 employees are Gazetted officers.

Class 1 employee examples are:

All India services, though posted to states; promotees from states to the cadre of Assistant Commissioner and above and to the cadre of All India services ; Police officers of Circle Inspector and above; Additional District Civil surgeons, Executive Engineers and above, District Medical Officer and above, Lt.Col. and above, Principals of Government colleges and above, Readers and above of Universities, etc.

So, these officers can attest a photo, xerox of certificates etc.

Apart from them a Public Notary, Magistrate can attest also.

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All officers belonging to Govt.(state or central) whose name are published in the Gazette of india are called "Gazetted Officers".

Gazetted officer(rajpatrit adhikari) have special previllages and powers.The term Gazetted is a status symbol and makes them recognizable all over India.

All Group A regular cadre officers and also some Imp post at Group B of State and central Govt(like ACP's Of Danics,Assitant Administrative officers,Asstt. Directors comes in Group B). are Gazetted.

Note: Officers of Autonomous organizations,Contractual Staff employed in Govt.,PSU,Bank did not enjoy Gazetted status hence are not Gazetted

All Gazetted officers have rites to attest certificates (ie.Photos,Marksheets etc)

Some of the Gazetted posts are as below

Defence Officers
Assistant commissionar of police(ACP)
All central services officers
Scientists of DRDO,CSIR,NPL etc
Doctors of Govt hospitals
Assistant Programmer,IT CADRE Delhi Govt.
Assistant Director
Assistant Engineer
Librarians of Govt

Note:
Junior Engineers,Assistant Librarian are not Gazetted

What is the bearer and order cheque mean? - Yahoo! Answers India

Bearer Cheque -:
When a cheque is payable to a person named in the cheque or to the bearer thereof, it is called a bearer cheque. Any person can go in the bank and collect its payment. It is transferable merely be delivery.

Order Cheque -:
An order cheque is payable to the person named in the cheque or his order. Order cheque is paid by the bank only when the bank is satisfied about the identity of the payee. These cheques are not tranferable merely by delivery.

What is the difference between crossed cheque and account payee cheque?

Que--What is the difference between crossed cheque and account payee cheque?

Because there is a modification u/s 40A(3) for payment made more than 20000/- from crossed cheque to account payee cheque.

Ans-- crossed cheque : two parallel lines are made in corner of cheque. it can be endorsed in fovour of any other person. e.g. A issued crossed cheque in the name of B. now, B can endorse this cheque in favour of C by writing and signing on its back and C can get money into his a/c even cheque is in name of B.

a/c payee : in between those parralel lines, "account payee" is also written. in above example, if cheque is a/c payee, B cannot endorse in favour of any other person. money will go into B's a/c only.

Form 26AS FAQ | All About Form 26AS

Q1 What is Form 26AS?

A1 Form 26AS is a consolidatedtax statement issued under Rule 31 AB of Income Tax Rules to PAN holders. This statement with respect to a financial year will include details of:

a) tax deducted at source (TDS);

b) tax collected at source (TCS); and

c) advance tax/self assessment tax/regular assessment tax etc. deposited in the bank by the taxpayers (PAN holders).

Form 26AS will be prepared only with respect to Financial Year 05-06 onwards.

Q2 How is the information in my Form 26AS organized?

A2 The Form 26AS (Annual Tax Statement) is divided into three parts namely; Part A B and C as under:

Part A displays details of tax which has been deducted at source (TDS) by each person (deductor) who made a specified kind of payment to you. Details of the deductor (name & TAN) along with details of tax deducted like section under which deduction was made (e.g. section 192 for salary) date on which payment was effected amount paid/credited tax deducted from payments and deposited in the bank are included in this part.

Part B displays details of tax collected at source (TCS) by the seller of specified goods at time these goods have been sold to you. Details similar to those displayed in Part A in respect of the seller and the tax collected will also be available.

Part C displays details of income tax directly paid by you (like advance tax self assessment tax) and details of the challan through which you have deposited this tax in the bank.

Q3 How are the details of TDS/TCS with respect to non-governmental deductors posted in Form 26AS?

A3 Every non-governmental entity that has deducted or collected tax at source is required to deposit the tax to the government account through a bank. Banks will upload this payment-related information to the TIN central system.

These deductors are also required to file a quarterly statement to TIN giving the details of their TDS/TCS.

The TIN central system will match the tax payment-related information in the statement with the tax receipt information from the banks. If both of these match TIN will create a comprehensive ledger for each PAN holder giving details of the tax deducted/collected on its basis by every deductor who has filed the statement.

Q4 How are the details of TDS/TCS with respect to government deductors posted in Form 26AS?

A4 As in the case of non-governmental deductors government deductors are required to deduct/collect tax at source and deposit to government account. In this case however the tax is transferred to the government account through a book-entry and not deposited through banks.

These deductors are also expected to file the TDS/TCS statement in electronic form to TIN.

As the system for the government account officers to upload the details of TDS/TCS deposit through book entry transfer is under implementation the TDS/TCS details with respect to government deductors are not posted in Form 26AS at present.

Q5 How are the details of income tax directly deposited in the banks by the taxpayers posted in Part C of Form 26AS?

A5 Whenever you as a tax payer deposit your advance tax/self assessment tax directly to bank the bank will upload this information to the TIN central system three days after the cheque has been cleared. This information will be posted in Part C of your Form 26AS.

Q6 How is my Form 26AS updated when I pay my Self Assessment/Advance Tax?

A6 Banks upload challan details to TIN on a T+3 basis after the realization of the tax payment cheques.On the day after the bank uploads the details of self assessment/advance tax to TIN it will post these details into your Form 26AS.

Q7 How is my Form 26AS updated after my deductor deducts my tax?

A7 As and when TDS/TCS statements furnished by the deductors are uploaded to TIN central system challan information from the statements and the challaninformation from bank uploads are matched and Form 26AS is updated. This is a daily activity.

As per the Income Tax Act the deductors/collectors are required to file their TDS/TCS statements every quarter. This means that within about 15 days of the deductors filing quarterly e-TDS/TCS statement the TDS/TCS entries will be posted in the tax statement which is available in the TIN website.

Q8 How is Form 26AS useful for me?

A8 The credits available in the tax statement confirm that:

a) the tax deducted/collected by the deductor/collector has been deposited to the account of the government;

b) the deductor/collector has accurately filed the TDS/TCS statement giving details of the tax deducted/collected on your behalf;

c) bank has properly furnished the details of the tax deposited by you.

In future you will be able to use this consolidated tax statement (Form 26AS) as a proof of tax deducted/collected on your behalf and the tax directly paid by you along with your income tax return after the need for submission of TDS/TCS certificates and tax payment challans along with income tax returns has been dispensed with by the Income Tax Department (ITD).

However as of now for claiming the credit for tax deducted/collected at source you may be required to enclose TDS/TCS certificates (Form 16/16A) issued to you by the deductor.

Q9 What happens if my PAN is not correctly provided in the TDS/TCS statement filed by my deductor?

A9 In such cases the details of TDS/TCS cannot be posted into your Form 26AS. Therefore it is important to provide your PAN to all the entities who deduct/collect tax on your behalf.

Q10 What happens if I have not given my PAN in the tax payment challan used for depositing my advance/self assessment tax?

A10 In such cases the tax payment details will not be posted in Form 26AS. Therefore it is important for you to correctly state your PAN in your tax payment challans.

Q11 What is the source of the information like my name and address given in the Form 26AS?

A11 The name and address in the annual tax statement against your PAN is taken from the Income Tax Department (ITD) PAN database.

In case this address in the PAN database available with ITD is not your current address the annual tax statement which is proposed to be printed and posted to you every year will not reach you.

If you need to update your name and address in the PAN database you can rectify the same by making an application using the ‘Request for new PAN card or/and changes or correction in PAN data’. This request can be made either online or through the existing network of TIN-FCs. Details are available at the TIN website.

Q12 How can any deductor verify the status of the TDS/TCS statements furnished by him?

A12 The deductor can use the TAN view facility available at TIN website to verify both upload and booking status of the TDS/TCS statement uploaded by it.

Q13 What are the conditions under which advance tax/self assessment tax paid in the bank may not reflected in Part C of Form 26AS.

A13 This could be because:

a) your PAN was not properly quoted in the tax payment challans or

b) the bank has made error in entering the PAN while digitizing the challan data or

c) the bank has failed to upload the digitized information to TIN.

You can use the challan status enquiry facility provided at TIN website to verify whether a challan bearing the Challan Identification Number (CIN) given in the counterfoil available with you has been uploaded to TIN. If the PAN as seen in this uploaded data is not your PAN you may take up with your Assessing Officer for rectification of PAN.

In case the bank has not uploaded the details with respect to your deposit of tax you may take up with your bank so that this information is uploaded.

Q14 What if amount of advance/self assessment tax paid in the bank is incorrectly reflected in Part C of Form 26AS?

A14 This could be because the bank has made error in data entry. You should take up the matter with your bank for rectification of amount.

Q15 What if the Challan Identification Number (CIN) of the advance/self assessment tax paid in the bank (as given in Part C of Form 26AS) does not match with the CIN in the challan counterfoil available with me?

A15 You may quote this CIN that is quoted in Form 26AS in your tax return.

Q16 What are the possible reasons for incorrect amount of credits being displayed in Part A/B of my tax statement?

A16 The possible reasons for incorrect credits in Form 26AS can be on account of wrong data provided by the deductor in the quarterly TDS/TCS statement. You may request the deductor to rectify the TDS/TCS statement using prescribed correction statement.

Q17 What are the possible reasons for no credits in Parts A/B of my Form 26AS?

A17 The possible reasons for no credit being displayed in your Form 26AS can be:

Deductor/collector has not filed his TDS/TCS statement;

You have not provided PAN to the deductor/collector;

You have provided incorrect PAN to the deductor/collector;

The deductor/collector has made an error in quoting your PAN in the TDS/TCS return;

The deductor/collector has not quoted your PAN;

The details of challan against which your TDS/TCS was deposited was wrongly quoted in the statement by the deductor or wrongly quoted in the challan details uploaded by the bank.

To rectify these errors you may request the deductor:

to file a TDS/TCS statement if it has not been filed;

to rectify the PAN using a PAN correction statement in the TDS/TCS statement that has been already uploaded if it has made an error in the PAN quoted;

to furnish a correction statement if the deductor had filed a TDS/TCS statement and had inadvertently missed providing your details or you had not given your PAN to him before he filed the TDS/TCS return;

to furnish a correction statement if the deductor had filed a TDS/TCS statement which had mistake in the challan details;

to take up with the bank to rectify any mistake in the amount in the challan details uploaded by the bank.

Q18 What should I do in case there are entries in my Form 26AS that do not pertain to me?

A18 In case this is on account of TDS/TCS credit you may intimate the deductor/collector. In case this is on account of advance tax/self assessment tax you may intimate your assessing officer.

Q19 Can negative (‘-’) entries appear in Form 26AS?

A19 If there is any error is in the TDS/TCS statements or in the challan details uploaded by the bank and the same has been rectified the original credit entry will be reversed by way of a debit entry in Form 26AS and a new credit entry (if applicable) will be posted.

Q20 Can changes be made to the name and address of the PAN holder displayed in Form 26AS?

A20 If PAN holder details are incorrect the same can be updated by making an application using the ‘Request for new PAN card or/and changes or correction in PAN data’. This request can be made either online or through the existing network of TIN-FCs. Details are available at the TIN website.

Q21 Whom can the PAN holder contact in case of any clarifications which have not been resolved by the deductor of the bank?

A21 PAN holder can contact TIN Call Centre National Securities Depository Limited 3rd Floor Sapphire Chambers Near Baner Telephone Exchange Baner Pune 411 045. Tel: 020 2721 8080. Fax: 020 2721 8081. Email: tininfo@nsdl.co.in

Related posts:

1. Form 26AS Annual Statement u/s 203AA
2. How to Verify and Submit Rectify TDS/TCS Return ?
3. How to Verify Paid Challan ?
4. How to Get Registered TAN Online?
5. Procedure for filing e-TDS/TCS returns with insufficient deductee PAN

Frequency Norms Of Audit For Service Tax Assessees

Service tax refers to a tax on the services provided or that are going to be provided by a person. There are certain characteristics of this tax like there must be two parties involved in the process namelyservice provider and service recipients. The administration of the tax is done by the central Excise Department and the governance of the tax is done by the Finance Act, 1994.

The liability of service Tax arises on the rendering of selected services; it is not that each and every kind of service is going to be taxed. The rate of service tax that is currently prevailing is that of 10% of the value of the service rendered plus education cess at the rate of 2% and secondary and higher education Cess at the rate of 1%, the collective rate of service tax is 10.30%.

The Assessee providing service need to collect service tax from the recipients which are to be deposited to the government and for the proper governance there has been certain norms laid down for the audit of service tax assessee.

Frequency norms generally states that an Assessee whose payment of service tax in the preceding year including CENVAT along with the cash payment has exceeded an amount of Rs 3 Crore are liable to audit every year and it has also been said that CAAP (Computer Assisted Audit Program) are to be used in the purpose of the audit of the said assessee.

Other norms related to the audit of the service tax assessee are that any assessee whose payment of service tax is less than 3 crore but greater than 1 crore is liable for audit in one year of every two year, here the limit of 3 crore includes the amount of the CENVAT credit availed

Frequency norms for small assessee whose payment of service tax is less than 1 crore but more than 25 lacks taking into consideration both the cash payment and the amount of cenvat credit availed are liable to audit once in every five years.

These are the general frequency norms related to the audit of the assessee for the payment of the service tax and the major objective that’s there behind the audit purpose is to look forward that assessee is working along with the provisions laid down in the Finance Act, 1994 chapter V and other rules that are there in it.

There are various provisions laid down for the audit of the assessee who is going to be audited every year that is whose payment of service tax is greater that Rs 3 crore as they are not going to be audited ordinarily as the selection of the assessee is based on the risk assessment. It is generally found that the audit of the head office of the assessee along with all the units are to be done together and should cover a prescribed period as laid down but should be done up to the previous month completed before the audit.

What is the full form of BSR Code ? - Rediff Questions & Answers

Basic Statistical Return is the full form of BSR code. This term is used in Banking field and which is given to each brach.

ncome Tax Department's initiative to receive information and maintain records of tax paid through banks through online upload of challan details is named as OLTAS (Online Tax Accounting System).
The collecting bank branch will put a rubber stamp on the challan and its counterfoil indicating a unique Challan Identification Number (CIN) comprising of seven digit BSR Code allotted by RBI to that bank branch, the date of deposit (dd/ mm/ yy i.e. six digits), and the challan serial number in 5 digits. CIN will, therefore, be unique for each challan through out the country and will be used for identifying the challan in the OLTAS.
BASIC STATASTICAL RETURNS (BSR)

Basic Tax Jargons

Basic Tax Jargons

Financial Year, Assessment Year and Previous Year, do these commonly used income tax jargons often confuse you? This is what they mean.

1. Financial Year (FY) – Duration of one year between 1st April to 31st March of the following year, in which all financial information are reported. The current financial year is 1st April 2010 to 31st March 2011.
2. Assessment Year (AY) – The income of a particular financial year is assessed in the following financial year, which is known as the assessment year. For the current financial year, income will be assessed in the assessment year 2011-2012.
3. Previous Year (PY) – The financial year preceding the assessment year, the income of which is assessed in the following assessment year. Assessment year 2011-2012 will assess income for previous year 2010-2011.

Income Tax Slabs

With the upward revision of the tax slabs, there would now be more savings for the consumers. Basic tax exemptions limits have been retained; however, the brackets have been broadened. Below are the income tax slabs and rates applicable for the current financial year 2010-11 and assessment year 2011-12.

Tax Slabs for Male Assesses(less than 65 years)

Income: up to 1.6 lakhs	No Tax
Income : 1.6 lakhs to 5 lakhs	10 %
Income : 5 lakhs to 8 lakhs	20 %
Income : above 8 lakhs	30 %

Tax Slabs for Women Assesses (less than 65 years)

Income : up to 1.9 lakhs	No Tax
Income : 1.9 lakhs to 5 lakhs	10 %
Income : 5 lakhs to 8 lakhs	20 %
Income : above 8 lakhs	30 %

Tax Slab for Senior Citizen

Income : up to 2.4 lakhs	No Tax
Income : 2.4 lakhs to 5 lakhs	10 %
Income : 5 lakhs to 8 lakhs	20 %
Income : above 8 lakhs	30 %

As a result of the widening of the tax brackets, for an individual in the bracket between Rs. 3 Lakhs to Rs. 5 Lakhs, there could now be a saving of up to Rs. 20,000. Earlier, this bracket of 10% tax rate was applicable only up to an income of Rs. 3 Lakhs. Similarly, for the tax slab of Rs.8 Lakhs and above, there could now be a saving of more than Rs.50, 000.

Additionally, the government has also introduced section 80CCF where investments in infrastructure funds could fetch an extra deduction of Rs 20,000.

5 Easy Steps to Calculate your Tax

Calculating income tax is not any rocket science. The following 5 steps give you an idea of the process.

1. Calculate your gross total income. This includes gross income from Form 16; and the taxable income from other sources.
2. Calculate your net deductions, which may include, donations, investments and savings such as provident fund subscriptions, Life Insurance Premiums etc.
3. Your net taxable income is gross total income minus net deductions.
4. Apply the appropriate income tax slab to calculate your tax payable on aggregate income.
5. Education Cess of 3% is applied on the tax payable to arrive at the total tax payable. Relief under various sections would be applied on this total tax.

For example: Let us consider a net taxable income of Ravi as Rs. 8, 00,000.

As a male assessee, here’s how his tax is calculated.

Calculation

Tax up to Rs. 1,60,000	Nil
Tax on Rs.1,60,000 to Rs.5,00,000 @ 10%	34,000
Tax on Rs. 5,00,000 to Rs. 8,00,000 @ 20%	60,000
Total	94,000
Educational Cess - 3% of Total Tax	2,820
Net Tax Payable	96,820

Revenue Stamp Usage and its guidelines

Revenue Stamps are used for cash payments made on and above a specific amount.

1. Every cash payment more than Rs. 5000.
2. It will be used as a proof that the payment has been made to the person signed the cash voucher.

Section 2(2 3) of the Indian Stamp Act 1899 makes it mandatory for affixing of stamp on any receipt as defined therein above Rs. 5000.

2(23) "Receipt" includes any note, memorandum or writing-

(a) whereby any money, or any bill of exchange, cheque or promissory note is acknowledged to have been received, or
(b) whereby any other movable property is acknowledged to have been received in satisfaction of a debt, or
(c) whereby any debt or demand, or any part of a debt or demand, is acknowledged to have been satisfied or discharged, or
(d) which signifies or imports any such acknowledgment;
and whether the same is or is not signed with the name of any person "

Source: http://www.taxworry.com/2007/01/why-stamp-of-rs-one-has-great-value-in.html

Q---In case of getting signature from employees in the salary register, what is the limit for affixing revenue stamp and getting sign on the above?

ANS-- Revenue Stamp is to be affixed in cases where the net payment to a person at one moment exceeds Rs. 5000.00. As such, affix the revenue stamp in cases where the payment of salary exceeds the said limit of Rs. 5000.00.

Q-- One more doubt if the salary is credited through bank, is it necessary to get sign of employees in salary register?

ANS-- If it's thru bank then no need to take the signature on salary register.

Nainital (Uttaranchal)

Nainital is a lake resort set at a height of 1,938 metres in a beautiful wooded valley. Surrounded by seven hills, the sparkling waters of the natural lake make it a gem among hill resorts. The lake is Nainital's pride and its yachting competition, organised during the season, is on a national level. The gaily coloured yachts on the, sparkling lake have become synonymous with this beautiful resort. If legend is to be believed, the lake was formed when the Goddess Sati lost her eyes at this spot. She was being carried by Lord Shiva at the time and a lake was formed as a result. 'Naina' (Eyes)Tal' (Lake) was thus given its name. The British were the first to 'discover' Nainital as, a holiday resort in 1841. Today, it has developed into a popular tourist destination of great beauty. The emerald waters of this mountain lake continue to retain their charm and beckon the tourist. GENERAL INFORMATION Area : 11 sq. km (City area). Altitude : 1938 ( metres). Climate : Summer Max 26.7ºC, Min 10.6ºC. Winter Max 15.6ºC, Min 2.8ºC. Rainfall : 279 cm. Tourist Season : March to June, September to October. Clothing : Summer Light woollens Winter Heavy woollens. STD Code : 05942 PLACES TO SEE Naini Lake Snow View Naina Peak Hanuman Garhi Zoo Gardens EXCURSIONS Bhimtal Sat Tal ( Seven Lakes) Mukteshwar Naukutchia Lak Ramgarh HOW TO REACH? By Air : Pantnagar, 71 km is the nearest airport. By Rail : The nearest railway station is Kathgodam 36 km. away. By Road : Nainital is connected by good motorable roads to many places.