Presentation on theme: "EDC WELCOMES ALL GOVERNMENT OFFICIALS FOR A MEETING RELATED TO LAND ACQUISITION DEPOSITS."— Presentation transcript:
EDC WELCOMES ALL GOVERNMENT OFFICIALS FOR A MEETING RELATED TO LAND ACQUISITION DEPOSITS
EDC LIMITED IS A STATE LEVEL INVESTMENT & FINANCIAL CORPORATION BY GOVERNMENT OF GOA IN 1975 UNDER COMPANIES ACT FUNCTIONING UNDER COMPANIES ACT AND OTHER REGULATIONS. ACTIVITIES : TERM LENDING TO SME/GOVT.DEPT. CMRY SCHEME INFRASTUCTURE FINANCE SUBSIDIARY OPERATIONS HOUSING AND VEHICLE SCHEMES PATTO COMPLEX TRAINING CENTRE FOR EMPOWERMENT AND EXCELLENCE SUBSIDY SCHEMES LAND ACQUISITION DEPOSITS
LAND ACQUISITION CELL LAND ACQUISITION CELL Beneficiaries Income Tax Dept. RECEIPT DEPOSIT REQUEST LETTER CHEQUES RECEIPT WITH FILE STATUS TDS PAYMENT DEPARTMENTS
Project Name - Amount in Covering letter with MICR cheque in favour of “ EDC LIMITED “ EDC Receipt with code Consolidated Cheques – Breakup of Amounts – Project wise No revision/modulation of Project Name. Dept. Name & Address correctly mentioned. Transfer of Project to other Dept. – Inform EDC Deposit of Additional Amount – Inform EDC with EDC Code & Project Name. Identify duplication of amount deposited/clubbing of projects. Reconcile balance on 31 st March every year and reply to EDC balance confirmation letters Interest paid to GoG.
Receipt with file, etc. Complete process of land Acquisition- Order/Advertisement Details of cheques withdrawn/Amount paid/ Amount unpaid. Reconciliation of balance – Project wise On completion of project – Obtain refund from EDC if any. Income tax matter – Obtain PAN Card copy/ I.T.process to be set.
Letters with Names/Amount with TDS Letters to be Inward/outward – No bearers Cheque Validity – 6 Months Cheque cancelled – Inward - Acknowledgement Receipt - Mention Opening/Closing balance alongwith Project name & EDC Code. Mention correct Names/Amount Cheque issued in 7 working days
Cheque withdrawal by Bearer. Drawal of unsure payments. Modulation of Project Project Names (mention EDC Code) Expedition of cheque drawal (results in mistakes)
Section 194 LA, Payments greater than Rs.1.00 lakh per year. TDS on 10% on amount paid Obtain PAN of payee. Pay TDS online as per required form / process. File returns as required by I. T. Act. Issue TDS Certificates to payees.