“After introducing the eFile by eMail option where customers need to send us an email with a few details, e-filing of taxes through mobile is the next obvious step for the company,” Ankur Sharma, CEO, TaxSpanner said
Online income tax return filing company TaxSpanner has launched mobile version of its solution that would enable users to file income tax returns (ITR) from their handset.
"After introducing the eFile by eMail option where customers need to send us an email with a few details, e-filing of taxes through mobile is the next obvious step for the company," Ankur Sharma, CEO, TaxSpanner said in a statement.
"Our new mobile site will make it easy for the taxpayer to file his ITR using the mobile phone," he added.
This new solution from the company will offer taxpayers service to file ITR through their mobile phones from the first week of July 2011.
TaxSpanner has developed eFile by mobile solution using open source technologies namely Linux, apache, postgres, python, django which it has used for the service from its website.
To access the service, a mobile user will have to visit TaxSpanner site on his handset from the browser present on the device. After this he will be automatically directed to "eFile by eMail" application page of the TaxSpanner mobile site.
The user is not required to be registered for this. Only he will need to fill up a form with some personal details and upload Form 16 on the same page. Thereafter, the ITR will be filled and generated automatically, the statement said.
Emmel Financial Services moved to BSE in 2001 claiming that Rs3.14 crore was due to it from broker Nikko Stock Brokers
The Securities Appellate Tribunal (SAT) on Tuesday directed the Bombay Stock Exchange (BSE) to pay Rs2.21 crore, with 10% interest, to Emmel Financial Services as the money has been lying with the bourse since 2002.
SAT directed BSE to pay from the fund of Nikko Stock Brokers, lying with the exchange after it invoked bank guarantee of the stock broker.
"Since payment to the Emmel has been sufficiently delayed for which BSE is to be blamed, we further direct the exchange to pay from its own funds interest to the financial services firm at the rate of 10% from the date of award till the date of payment," the order said. The order has to be implemented within two weeks in case BSE does not decide to move the Supreme Court against it.
Emmel Financial Services moved to BSE in 2001 claiming that Rs3.14 crore was due to it from broker Nikko Stock Brokers.
BSE's Arbitration Tribunal gave its award, dated 31 December 2001, holding that the broker was liable to pay to Emmel Rs2.6 crore.
Subsequently, Emmel approached BSE on 16 January 2002, requesting BSE to pay Rs2.21 crore to the income tax authorities on its behalf from the funds of the broker that was due to it.
That was not even contested by the broker, and BSE should have immediately debited account of the broker, SAT observed.
"We wonder why BSE did not carry out the directions of the (SEBI) board which it ought to have and we cannot appreciate its adamant attitude in this regard. It should have given a more thoughtful consideration to the matter particularly when it had received directions from the Board," the order said.
BSE did not pay the amount to Emmel as other claimants cropped up during 90 days of the arbitration award. It wanted Emmel to collect the dues from the Defaulters Committee of the exchange which is mandated to distribute the money in proportion to the claim.
On 25 February 2002, Nikko Stock Brokers was declared defaulter and the money was lying in the broker's fund could not be accessed.
The services provided by Taurus would be certified by Taqwaa Advisory and Shariah Investment Solutions
Portfolio manager Taurus Asset Management said it would provide customers advisory services for Shariah-compliant investments.
Taurus Asset Management under its portfolio management services (PMS) umbrella, in association with Multigain Shariah Investment Services, has launched its Shariah compliant PMS strategy branded as 'TM Shariah Strategy', Taurus said in a statement.
"The aim of launching TM Shariah Strategy is to bring Shariah compliant investment opportunities in the Indian stock market to Muslim investors as well as to those who are seeking ethical investment in India and abroad," it added.
The services provided by Taurus would be certified by Taqwaa Advisory and Shariah Investment Solutions (TASIS). This would be the first Shariah strategy under PMS to be certified by TASIS, the statement added.
Under the services, Taurus AMC would appoint an independent SEBI-approved custodian and Fund Accountant to ensure that there is no conflict of interest.
It would also provide a log-in facility to clients to view their portfolios on a day-to-day basis. Scrips for investment under TM Shariah Strategy would be selected from the stock universe provided by TASIS on monthly basis.
In December last year, the Bombay Stock Exchange (BSE) and TASIS together launched the BSE TASIS Shariah 50 index, consisting of the 50 largest and most liquid Shariah compliant stocks within the BSE 500.
Two years back Taurus AMC, as the investment manager of Taurus Mutual Fund, had launched a Shariah compliant Mutual Fund scheme.