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What is New
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Maintenance of Muster Roll - Form T and Combined Annual Return - Form U in Electronic Media. |
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The circular dated 19.9.07 relates to a progressive measure initiated by the Labour Department, Government of Karnataka. In this regard the then Labour Commissioner had issued instructions to all JLC, ALC, Labour officers, labour inspectors etc vide letter dated 19.9.07, that a owner of a Shop and Establishment, if he desires may maintain Muster Roll in Form T and Combined Annual Return in Form U in Electronic Media (adopting proper disaster recovery measures to store the data) and render these
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The Central Government has enhanced the amount of medical bonus from Rs.1000/- to Rs.2500/- |
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The Central Government has enhanced the amount of medical bonus from Rs.1000/- to Rs.2500/- vide notification No, S.O. 2016 (E) dated 11.08.08 published in the Gazette of India, Extraordinary, Part II, Section 3(i) and giving effect from the date of publication (i.e., 11.08.08).
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Amendment to Karnataka Tax on Professions, Trades, Callings and Employments Act, 1976 (Karnataka Act 35 of 1976) |
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The Karnataka Taxation Laws (Amendment) Act, 2009 is in force with effect from First day of April, 2009 and relates to PT amendment for Karnataka by which Section 5, 6-A, 7, 21 and 26 are amended to the extent specified in the notification. The other amendment is with regard to the Schedule in serial number 1, in column 2 where the entries relating to item (b) and the corresponding entries in column (3) is omitted and the entries relating to item (c) and the corresponding entries in column (3) is omitted. The net result of this omission in the Schedule is that the slab for the PT rate is reduced wherein the persons with monthly salary up to Rs.10,000/- are exempted from professional tax. The present slab as under Serial no. 1 of Schedule is:
SCHEDULE
[See Section 3(2)]
Sl.
No. |
Class of persons |
Rate of tax |
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Salary or wage earners whose salary or wage or both, as the case may be, for a month is,-
*[XXXX]
*[XXXX]*
*[XXXX]*
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*[XXXX]*
*[XXXX]*
*[XXXX]* |
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(d) not less than Rs.10,000
but less than Rs.15,000
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(e) Rs.15,000 and above
* entry deleted by Act No.6 of 2008
** entry deleted by Act No. 7 of 2009
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Name Board of the Establishments in Kannada to be predominant |
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The Name Board of the Establishments shall be in Kannada and the same to be predominantly displayed. This is notified under Karnataka Shops and Commercial Establishments (Amendment) Rules, 2008 vide notification LD 324 LET 2008 dt 31/12/2008 and the same is in force.
The amended rule 24-A which states ‘The name board of every establishment shall be in Kannada and wherever any other languages are used in the name board, such language versions of name shall be below the Kannada version. The name board in Kannada version shall be written more predominantly by providing more space than the other language(s)’.
The penalties prescribed for non compliances of this obligation ranges from Rs 500/- to 1000/- extendable upto Rs 10,000/-. Every subsequent offence may attract Rs 10,000/-.
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High value clearing, the facility that enables depositors to encash cheques drawn for over Rs 1 lakh the next day, is set to be phased out. |
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The Reserve Bank of India (RBI) has increased the minimum value for high value clearing to Rs 5 lakh from 1st May, 2009. This will be increased further to Rs 10 lakh by 1st August, 2009 and will be withdrawn completely by 1st November 2009. It is said that the electronic alternatives, such as national electronic fund transfer (NEFT) and real time gross settlement (RTGS), have reduced the need for cheque-based clearing.
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Minimum wages & VDA from 01-04-2010 to 31-03-2011 |
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Minimum wages & VDA from 01-04-2010 to 31-03-2011 in Karnataka for Shops and Commercial Establishments and Contract workers
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Rate of Interest for EPF for the year 2008-09 announced - 8.5% per annum |
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Rate of Interest for EPF for the year 2008-09 announced under EPF Scheme for crediting @ 8.5% per annum on monthly running balance in accounts of EPF sucbscribers for the year 2008-09
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