Taxation
HC asks CBDT to extend deadline for filing I-T returns to 30th November

The extension given will be subject to payment of interest on self assessment tax under Section 234 A for late filing of income tax report

 

The Gujarat High Court directed the Central Board of Direct Taxes (CBDT) to extend the deadline for filing income tax returns (ITR) to 30 November 2014. The Court order, however, comes with a rider. The extension given will be subject to payment of interest on self assessment tax under Section 234A for late filing of ITR.

 

The HC Court order followed two writ petitions filed by CA firm Rajni Shah & Associates and All Gujarat Federation of Tax Consultants challenging the CBDT directive on the deadline for furnishing tax audit report (TAR). The Court has directed CBDT to extend the 30th September deadline for filing ITR for assessees who are subject to tax audit under Section 44AB.

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Does the Executive Suite Match the Empowerment Message in the Ad?

Are companies whose commercials tell women they can reach whatever heights they want all talk?

 



Female empowerment sells. Just ask Dove whose sales after launching its “Real Beauty” campaign almost doubled. But are companies whose commercials tell women they can reach whatever heights they want walking the walk they talk in their ads?


Women CEOs hold only 4.8% of Fortune 500 CEO positions and held only 16.9% of board seats in 2013 (BTW, women made up 46.8 percent of the work force in 2013). TINA.org took a look at the five highest paid executives, as listed in public SEC filings and corporate executive compensation documents, for companies running empowerment-themed ads.

 

As you can see from the graphic below, out of the companies who have run recent ads promoting female empowerment, only three have women among their top five earners.

Don’t get us wrong — we totally support the messaging in these ads (and have posted many of them in our Ads We Like category). And we applaud the fact that 29 of Fortune’s 50 most powerful women in business work at Fortune 500 companies.


But the fact remains that there is a shockingly low (or non-existent) number of female executives at the pinnacle of the pay scale of the companies running these commercials. Meaning these companies are not heeding their own marketing message when it comes to the highest level executives, but are more than willing to cash in on the female empowerment movement.

Courtesy: TruthInAdvertising.org

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How Insurers Are Charging You More for Your Generic Drugs

The Affordable Care Act bans US insurance companies from discriminating against patients with pre-existing conditions. Some experts say insurers could be doing just that by forcing people with certain illnesses to pay more for their drugs

 

The Affordable Care Act bans insurance companies from discriminating against patients with pre-existing conditions. But some policy experts say insurers could be doing just that by forcing people with chronic illnesses to pay more for their drugs.


ProPublica's Charles Ornstein explains that insurers have long used a tiered pricing system to steer consumers away from expensive brand name medications. But according to a recent editorial in the American Journal of Managed Care, several prominent health plans are taking this tactic one step further and charging higher co-payments for some generic drugs.




The editorial's authors examined six health plans to see how much they were charging for generic drugs to treat 10 conditions. For certain conditions like epilepsy and HIV, some plans didn't offer any generic drugs in the preferred category -- leaving patients to pay more or find a new plan.


"There are a number of advocates that contend that insurance companies are, while not explicitly charging people more to sign-up or charging them higher premiums, that they're using the way they structure their drug benefits to in fact charge people with pre-existing conditions more," Ornstein says.


The companies say they aren't targeting patients with pre-existing conditions.
So what can you do to make sure you're getting the best price for your prescriptions?
First, Ornstein recommends that you carefully examine your insurer's list of covered drugs, known as a formulary, before enrolling or renewing your health plan. Don't just let your existing coverage roll over because you were satisfied the year before. Plans can change a lot from one year to the next.


Second, consider changing pharmacies or selecting a store like Walmart or Costco that have low-cost or even no-cost generic drugs.


Lastly, talk to your doctor. If your copay has increased, ask your physician for alternative drugs.


Listen to this podcast on iTunes, SoundCloud or Stitcher. And for more on how insurers are shifting costs to consumers, read Ornstein's latest report.

Courtesy: ProPublica.org

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