"01 June 2013" Archive

Service tax on Educational Services – A Practical Perspective

The word ‘education’ is derived from the Latin word ‘educa’ which means bringing out latent faculties. ‘Education’ means the act or process of imparting or acquiring general knowledge, developing the powers of reasoning and judgment, and generally of preparing oneself or others intellectually or mature life; the act or process...

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Posted Under: Service Tax |

How to adjust excess service tax payment

Where an assessee has paid to the credit of Central Government service tax in respect of a taxable service, which is not so provided by him either wholly or partially for any reason, the assessee may adjust the excess service tax so paid by him (calculated on a pro rata basis) against his service tax liability for the subsequent period, i...

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Posted Under: Service Tax |

GST – Now The Dilemma Of Law Makers Is Clearly Declared- A Non Starter Futile Exercise

The Finance Minister Mr. P. Chidambaram in his Budget speech in 2006 gave a very clear picture about the future of the Goods and service tax. Let us see how confident our law makers were in 2006 which is evident from the budget speech of the Finance Minister Mr. P. Chidambaram:-...

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Posted Under: Service Tax |

No Bank holiday on 30th September in Maharashtra

However, as per request from Reserve Bank of India, Mumbai, the Government of Maharashtra hereby cancel the Bank Holiday declared on 30"' September, 2013 for half yearly closing of accounts. ...

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Posted Under: Service Tax |

Download United Nations Practical Manual on Transfer Pricing for Developing Countries

CA Praveen Boda UN releases official version of ‘UN Practical Manual on Transfer Pricing for Developing Countries’ at New York; Manual was adopted by UN Committee at Geneva session in October 2012;  Manual to help mitigate developing countries’ vulnerability to abuse and revenue loss from tax evasion from transfer pricing; ...

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Taxation in India- Mockery of IT System ; Why E-filling returns are released so late?

The E-filling of return both under direct and indirect system is a big relief to the Tax payers and professionals who are working for and on behalf of the tax payers. E-filling of Income tax returns has made the life of Taxpayers and professionals very easy and refunds are coming very fast. The whole system is paperless hence it is a big ...

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Posted Under: Service Tax |

Transfers & Postings Of CIT, DCIT/ ACIT – Order No. 92 & 94 of 2013

Order No. 92,94 of 2013 (31/05/2013)

CBDT has Vide Order No. 92 of 2013 dated 31.05.2013, ordered the transfer/ posting of several officers in the grade of Chief Commissioner of Income-tax (CIT) with immediate effect. CBDT has Vide Order No. 94 of 2013 dated 31.05.2013 ordered the transfer/ posting of several officers in the grade of Deputy Commissioner of Income-tax (DCIT)...

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ICAI President's Message – June 2013

Dear Friends, In the new Companies Bill, 2012, Corporate Social Responsibility (CSR) activities have got prime focus requiring all companies having net worth of Rs.  5000 crore or more, or, turnover of Rs. 1000 crore or more, or, a net profit of Rs.  5 crore or more during any financial year to constitute a dedicated […]...

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Posted Under: Service Tax |