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RESTAURANT SERVICE CLARIFICATION -Hello everyone here i am again with an another article of mine on services provided by a restaurant in relation to food or beverages eating joint or mess other than those having the facility of air conditioned or central air heating in any part of the establishment at any time during the years
Inputs used in relation to generation of electricity (which is in turn used in manufacture of final products) are eligible inputs for availing the cenvat credit.
Goods and Service Tax is a comprehensive tax levy on manufacture, sale and consumption of goods and services at a national level. Currently, there are 160 countries in the world that have implemented GST. The latest global corporate tax rate study made by KPMG international has found out that the lowest company taxes among the developed economies are still found in the European Union countries.
Corporate Social Responsibility (CSR) has been in existence for a long time and is almost as old as civilization. It is based on the Gandhian Principle of trusteeship concept whereby business houses are looked upon as trustees of the resources they draw from society and thus are expected to return them back manifold.
Amounts which are not considered as deposits (Rule 2 of Companies (Acceptance of Deposits) Rules, 2014) – any amount received from the Central Government or a State Government, or any amount received from any other source whose repayment is guaranteed by the Central Government or a State Government, or any amount received from a local authority, or any amount received from a statutory authority constituted under an Act of Parliament or a State Legislature.
Where a search is initiated u/s 132 of the Act etc., the A.O shall issue a notice requiring the person searched etc. to furnish his return of income in respect of each assessment year falling within six assessment years immediately preceding the assessment year relevant to the previous year
Even in the e-filing era, the assessees are overburdened with the compliances to be made with regard to filing of returns and payment schedules. An assessee is required to file quarterly returns relating to TDS on salaries, Quarterly returns relating to TDS on amounts other than salary, and quarterly returns relating to TCS. These are […]
Issues arising from Notification No 67/2013, dt 2-9-2013 amending Rule 37BB of IT Rules, 1962 wrt Foreign Outward Remittances- Form 15CA & Form 15CB Ministry of Finance has recently amended Income tax Rules vide Notification No 67/2013, dt 2-9-2013 with regard to Foreign Outward Remittances and Form 15CA &15CB. This notification is in supersession of an […]
This Report for the year ended March 2013 has been prepared for submission to the President of India under Article 151 of the Constitution of India. The Report contains significant results of the compliance audit of the Central Excise receipts under Central Board of Excise and Customs, Department of Revenue, Ministry of Finance.
Considering the very low availability of Internet Facility in India especially in villages and smaller cities the move is the one which is not appreciated by tax professionals. Some of the professionals has also demanded that Limit of 4 registrations against a mobile number/email registration must be removed immediately.
