Education Sector has been given tax benefit all over the globe. In the post Negative List era, it was imperative to appropriately exempt educational and related services . Clause (l) of new section 66D of the Act , exempt the education services from preschool to higher secondary, education as part of curriculum for obtaining a qualification recognized by law and education as a part of an approved vocational education course from levy of service tax .
Proper monitoring of credit in banks has assumed greater significance in the effective management of lending. The success of credit monitoring largely depends on two aspects namely the co-operation of the borrower clients in furnishing the required data and statements to the banks on time and the capacity and knowledge of the credit monitoring authorities to take timely decisions and corrective steps to keep the borrowal accounts in good health.
As per my experience generally CA,CMA,CS AND LL.B (particularly advocates who are tax practioners) – all are basically experts and can do related jobs if required to do so. However, some specialization and reservations are order of the day in any society and system.
Hearing an appeal from Delhi Chartered Accountants Society (DCAS) for Non extension of Due Date of tax Audit Report Honourable Delhi High Court (DHC) Formed a committee with Representatives from ICAI and DCAS to appear before CBDT and resolve on 21-10-2013 else DHC will hear the matter finally on 24-10-2013.
