1. The legal heir (LR) has to get a DSC in his own name.
2. LH is required to make a request by sending a mail toask@incometaxindia.gov.in mentioning the name, PAN,Date-of-Birth of deceased as well as that of the LH along with scanned attachment of the death certificate of the deceased.
3. On receipt of above, LH would be enabled to file the return of deceased using LH’s DSC.

PAN stands for a Permanent Account Number which is a 10 digit alpha-numeric code generated by the Income Tax Department of India. The tax department has made it mandatory for everyone (including NRIs, PIOs & Companies) who wish to conduct any type of investments and financial transactions in India. Carrying business, filing or paying taxes, investing in India, buying a property, opening a bank or demat account, etc.

e-Payment facilitates payment of direct taxes online by taxpayers. To avail of this facility the taxpayer is required to have a net-banking account with any of the Authorized Banks.

Lean Accounting has developed in recent times to provide the accounting, control, and measurement methods supporting lean manufacturing. Lean the expenditure of resources for any goal other than the creation of value for the end customer to be wasteful. This tool is applicable to healthcare, construction, insurance, banking, education, government, and other industries.

The objective is to eliminate waste, free up capacity, speed up the process, eliminate errors & defects, and  make the process clear and understandable.

There are two main thrusts for Lean Accounting. The first is the application of lean methods to the company’s accounting, control, and measurement processes. The second thrust of Lean Accounting is to fundamentally change the accounting, control, and measurement processes so they motivate lean change & improvement, Provide information that is suitable for control and decision making,

Lean Accounting does not require the traditional management accounting methods like standard costing, variance reporting, cost-plus pricing, complex transactional control systems, and untimely & confusing financial reports. These are replaced by:

• lean-focused performance measurements
• simple summary direct costing of the value streams
• radical Simplification and elimination of  transactional control systems by eliminating the need for them
• eliminating traditional budgeting through monthly sales, operations, and financial planning processes (SOFP)
• value-based pricing
• correct understanding of the financial impact of lean change etc

As 2012 has just arrived and plans are being made to engage with and encash the emerging opportunities, this
article uses the prediction of global experts and research firms to remove the veil from the crystal ball and bring
to you predictions of the emerging technologies and assess their impact on the role of accounting fraternity in
2012 and beyond. Hopefully you will gain insights on the challenges in the road ahead and prepare your plans
to leverage the technology advances for the betterment of your professional career whether you are in practice
or in employment.

The Evolving Role of IT

Information technology is all pervasive and the impact is extensive : for enterprises, professionals and : individuals. ITencompasses all: aspects of functioning of enterprises : from strategytooperations, conception : to completion and from ideation to : value creation. Business, regulatory : and competitive requirements are: demanding innovation in technology :
deployment resulting in changing: business models of delivery of: services using diverse digital media. : Successful enterprises in the digital : age are those which create positive : customer experience and make this : their business lifeline. IT is crucial : for delivering a positive customer: experience and this in turn drives : revenue and growth. Enterprises,:
professionals as also individuals are : becoming increasingly dependent: on IT and need to knowingly or: unknowingly embrace IT IT is: evolving at an accelerating pace and : the role of IT is transforming business : processes. It is expected that role of : IT in enterprises will fundamentally : change from being a service: provider to IT becoming a Service :

Broker, aggregator of services and : primarily responsible for building, : maintaining and sustaining the: business relationship by rendering : core services to the customer. :

Challenges of the Future for CAs

The core competencies a CA are : a unique combination of knowledge : and skills in various aspects of: accounting, assurance, information : systems, governance, management, . risk, controls, regulatory compliances, : business processes, human relations, : technology and related areas: relevant for enterprises of all types : and oriented towards the objective :
of providing value and deliverables : as per requirement of clients/users. : Studies by reputed accounting: bodies across the world suggest: that continuous enhancement,: upgrading and updating of the core : competencies is the key to sustaining :
a competitive and differential: advantage in the marketplace. This : leads to a continuing pressure on CAs : to expand their skills and services : beyond traditional roles to broader : based and decision-making skills by : harnessing the power of technology. : The dynamic changes in IT create : challenges not only for the CAs as : professionals but also the economic :
and business world. :