Useful Information


The Union Cabinet has approved a special incentive package under which the government will provide up to Rs.10,000 crore to promote large-scale manufacturing in the electronic system design and manufacturing (ESDM) sector. 

The scheme would provide subsidy for investments in capital expenditure of 20 per cent for investments in special economic zones (SEZs) and 25 per cent in non-SEZs.It also provide for reimbursement of excise for capital equipment for the non-SEZ units. For high technology and high capital investment units, like fabs (semiconductor), reimbursement of central taxes and duties would also be provided. 

"The policy is expected to create an indigenous manufacturing eco-system for electronics in the country. It will foster the manufacturing of indigenously designed and manufactures chips creating a more cyber secure ecosystem in the country.” The communication and IT Ministry said in a statement.
The incentives are available for investments made in a project within a period of 10 years from the date of approval. They are available for 29 category of ESDM products including telecom, IT hardware, consumer electronics, medical electronics, automotive electronics, solar photovoltaic, LEDs, LCDs, strategic electronics, avionics and industrial electronics.

2. a) National Electronic Funds Transfer (NEFT) Charges

The Reserve Bank of India has in consultation with stakeholders, today rationalized charges that banks levy on customers for transferring funds through National Electronic Funds Transfer (NEFT). Now banks can levy not more than Rs2.50 (exclusive of service tax) for online fund transfer up to Rs10,000. Charges for transfers beyond this limit would remain unchanged., that is Rs5 for transfers between Rs10,001 to Rs1,00,000, Rs 15 for transfers between INR 1,00,000 and up to Rs2,00,000 and Rs25 for transfers above Rs2,00,000. 

The new charges will come into effect starting August 1st 2012.the customers were last revised in November 2010. 

Explaining the revision the Reserve Bank has stated that NEFT transactions had grown exponentially in the recent years, It is desirable that the benefits accruing on account of increasing volume of transactions could be passed on to the customers through lower charges. this would also incentivize great use of the electronic payment system. Further, it is considered necessary to provide the large number of people being covered under the financial inclusion program with an efficient and remittance mechanism like the NEFT. 

2 b) National Electronic Funds Transfer (NEFT) – Acceptance of    NEFT inward for credit to Loan Accounts

National Electronic Funds Transfer launched in year 2005 has been working successfully over the years and occupies an important place in the payment system space. The system is meant for one-to-one funds transfer and can be used for transferring funds to beneficiaries (individual, institutions etc.) and no restrictions have been placed thereon. The phenomenal growth in the system, both in terms of branch coverage and volume / value of transactions handled reflects the acceptability and popularity of the system. On examination of the matter, it was observed that only a few banks were following this restrictive practice. These banks, however, were willingly taking ECS (Dr) as one of the modes for the repayment. It is, therefore, advised that all banks should allow the customers to choose NEFT also as one of the electronic modes of making payment towards loan EMIs / repayments etc.



1.   The Centre has asked state governments to compulsorily make at least 4% of their purchases from units run by Dalit as well as scheduled caste and scheduled tribe entrepreneurs.

2.The entrepreneurs enterprises state governments should notify a policy making it mandatory for departments and state-owned firms to source 20% of their purchases from small enterprises. A fifth of that would have to be bought from Dalit and SC/ST-owned firms. 

3. This is in line with a Public Procurement Policy for micro and small enterprises that the Centre had recently notified, setting the quota for purchase of goods from small firms.

The 20% quota for medium and small enterprises for these purchases had become applicable from April 1, 2012, in a three-year staggered manner. It will become

The central government ministries ,Departments and public sector Undertakings shall procure minimum of 20 percent of their annual value of goods or services from Micro and Small Enterprises. 

Now therefore ,in exercise of the powers conferred in section 2 of the Micro Small and Medium Enterprises Development Act 2006,the Central Government, by order, notifies the public Procurement Policy(hereinafter referred to as the policy) in respect of procurement of goods and services, produced and provided by micro and small enterprises by its Ministries ,department and Public Sector Undertakings. 

Review the list of 358 items(as per Appendix) reserved for exclusive purchase from the MSEs based on the feedback received from the Central Ministries/Department/PSUs:

Details are given in the following link


ISO reimbursement for micro/ small enterprises.

As you are kindly aware that Government of India, Ministry of MSME is reimbursing the ISO 9001/14001/HACCP certification expanses to micro and small industries to the tune of 75% or Rs. 75,000/– Whichever is less through the respective Directorate of MSME – Dls. The eligible enterprises are required to submit a set off. Documents along with the application, form. The performs and the details for reimbursement are available in website schemes-DC(MSME) schemes – 4 ISO 9001 /14000 reimbursement scheme which can be downloaded.



31st July is approaching fast which is the last date for filing of Income Tax Return for the Assessees who are not required to get there books of account audited under the provisions of Income Tax Act, 1961.  CBDT has recently vide Notification NO. 14/2012 dated 28.03.2012   made it mandatory to file Income Tax Return online for Individual & HUF  who are having Total Income Exceeding Rs. 10 lakh. In this article we have given below the steps to be taken to file online Income tax Return for Assessment year. 

1. First – Login to the website  If you aren’t registered already, you can do so with the help of your PAN. It acts as your user ID in this case.

2. Second – Download the appropriate ITR form for individuals listed in the site. Go to the ‘Downloads’ menu and choose ITR-I (Sahaj), if your only source of income is salary or pension. Those with income from one house property or interest income or can also use this form. Remember, the current assessment year

3.Third Open the downloaded excel utility.

4. Fourth – Enter all the details asked for in downloaded ITR Form (Excel utility).

5. Fifth-  Validate the filled details in ITR Form  by hitting the ‘Validate’ key. An XML sheet will be generated and saved on your computer.

6. Sixth – You can upload this XML file on to the I-T portal after selecting AY 2012-2013 and the relevant form. You will be asked whether you wish to digitally sign the file. If you have obtained the DS (digital signature), select Yes. Else, choose ‘No’.

7. Seventh – If a message regarding successful e-filing is flashed on your screen, you can consider the process to be complete. Your ITR-Verification form will be mailed to your registered e-mail ID.

8. Eighth -Now, all you need to do is to get a print-out of the ITR-V ( only in black ink ), put your signature and send it by ordinary post to the Income Tax Department-CPC, Post Bag No-1, Electronic City Post Office, Bangalore – 560100, Karnataka within 120 days of filing your returns on-line.

9. Ninth- It is important to ensure that your tax return reaches this office within 120 days, failing which, you will have to go through the process all over again.

10. Tenth – If you do not receive an acknowledgement from the I-T Department in due course, you can send the form again. However, don’t opt for courier services under any circumstance as it will not be accepted. 


On Line Registration

On line registration has been mandatory for all kind of assesses w.e.f. 30-09-2009 Vide commissioner of service tax Trade Notice no. 14/ST/2009 dated 17-09-2009 Under the software called   Automation of Central Excise And Service Tax (ACES) regarding registration  a user has to first register with ACES . This registration is not a statutory registration as described in Act or Rules made there under the Service Tax Act :


In case of any difficulty in accessing or using the ACES Application assessee can take the help of ACES Service Desk by sending e-mail to or calling up national toll free number 1800  425  4251



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