Professional Updates

   Cost inflation index (CII) is required to calculate the inflation-adjusted cost of asset acquisition/ improvement for computation of long term capital gain (LTCG) of assets, this indexation can help to reduce tax liabilities on long term capital gain. CBDT has  notified  cost inflation index for the FY 2024-25 on 24th May 2024 vide notification no  Notification No. 44 /2024/F.No.370142/10/2024-TPL. Here is the list of cost inflation index chart since FY 2001-02 Sr No Financial Year Cost Inflation Index 1 2001-02 100 2 2002-03 105 3 2003-04 109 4 2004-05 113 5 2005-06 117 6 2006-07 122 7 2007-08 129 8 2008-09 137 9 2009-10 148 10 2010-11 167 11 2011-12 184 12 2012-13 200 13 2013-14 220 14 2014-15 240 15 2015-16 254 16 2016-17 264 17 2017-18 272 18 2018-19 280 19 2019-20 289 20 2020-21 301 21 2021-22 317 22 2022-23 331 23 2023-24 348 23 2024-25 363

Provident Fund Form 3A revised in excel format Form 3A EPF (Employees' Provident Fund) is a key document for employees in India, showcasing their provident fund and pension fund contributions. It is essentially an annual contribution card that provides a detailed summary of contributions made by both the employee and the employer throughout the year. This form is integral to the Provident Fund scheme and requires the following crucial details: Account Number: The unique number assigned to each employee under the PF scheme. Name of the Subscriber: The employee's full name. Name of the Father/Husband/Wife/Mother: Name and Address of the Organization: Identifies the employer's business and location. Statutory Rate of Contribution: Indicates the percentage rate at which contributions are made. Month-wise Contribution: Breaks down the contributions by month for a detailed overview. Additionally, Form 3A requires the signature and seal of the employer, confirming the accuracy of

Move excel sheets to new excel file with one click!  In Excel, moving a worksheet to a new workbook can be a repetitive and error-prone task. What if you had an add-in that could automate this process? For professionals working in Excel, certain tasks can become repetitive and prone to errors, especially when they involve copying or moving data between workbooks. This article discusses an Excel add-in designed to address these challenges, detailing its utility, installation, and usage and is completely free to use: What does the Add-In do? The add-in allows you to take a worksheet from your current Excel file and create a new, separate Excel file with it. The new file is then saved in the same location where your original Excel file is stored.  This process is automated, so you don't have to manually copy, paste, or move worksheets, reducing the risk of errors and saving you time. The key features of the add-in include: Automatic Worksheet Movement : Moves the selected worksheet to

PF payment due dates for the FY 2023-24 for the purpose of tax audit reporting Reporting under clause 20 (b) of Form 3CD requires due dates of payment to various Employees contribution fund. i.e  "Details of contributions received from employees for various funds as referred to in section  36(1)(va) " Here " due date " means the date by which the assessee is required as an employer to credit an employee's contribution to the employee's account in the relevant fund under any Act, rule, order or notification issued thereunder or under any standing order, award, contract of service or otherwise. Most commonly reported funds under the clause 20(b) are EPF and ESIC. If there is delay in the payment of the contributions of PF and ESI result in disallowance of the payment of contribution. Here is the chart of the due dates under EPF and ESIC for the FY 2023-24 for quick reference. PF payment due dates for the FY 2023-24 Period Due Date Day Extended