Determination of Annual Value of Self-occupied property. Annual Value of one house away from work place.Determination of Annual Value of Let out house properties. Other Permissible Deductions from Annual Value in cases of let out properties. Interest for pre-construction period. Benefit for vacancy for the period when the property remains vacant (in cases of let out proporties). Exclusion of unrealised rent from annual value. Set off and carry forward of loss in cases of house properties. Computation Of Income From Self Occupied Property. Interest on borrowed capital for self occupied property. Deductions Under Section 80C In Relation To Investment In New Residential House Property
The current taxation scheme of income arising in respect of depository receipts under the Act is aligned with the earlier scheme which was limited to issue of Depository Receipts (DRs) based on the underlying shares of the company issued for this purpose (i.e sponsored GDR) or FCCB of the issuing company and where the company was either a listed company or was to list simultaneously. Besides, the holder of such DRs was a non-resident only.
D.O. letter No. D.O.F. No. 201/24/2013-CX.6 dated 03.03.2015 by Adviser,CBEC, regarding timely disposal of registration applications to all Chief Commissioners of Excise and Service Tax / Commissioners of Service Tax to Grant Service Tax and Excise
CS Monika Jain Buy Back means repurchase by a company of its own shares in order to reduce the number of shares in the market. Buy Buck is exercised either to increase the value of shares or to eliminate the threats from the shareholders who may be looking for a controlling stake. The provisions relating […]
While thinking for the entertainment now the question arises, which field is out from the service tax net? For the entertainment or enjoyment what a person thinks to do, whether it is eating outside with family, going to amusement parks, traveling outside for holiday, going to enjoy any artistic performance or any other things, all the sources are now under the service tax net and it seems that government has put the taxes on the sources of smile of a person.
Advocate Anandaday Misshra Unutilised Credit of CESS Q 1 What will be the fate of credit of Education Cess and Secondary and Higher Education Cess lying unutilized after it being subsumed in basic excise duty ? Answer : Firstly , it will not lapse since no lapsing provision is existing as on date for the same. Secondly , I […]
Rationalising the provisions of section 115JB The existing provisions contained in section 115JB of the Act provide that in the case of a company, if the tax payable on the total income as computed under the Act in respect of any previous year relevant to the assessment year commencing on or after the 1st day […]
Union Budget 2015 introduced several changes under Service Tax, particularly with regard to changes in exemptions, rationalising penal provisions, simplifying procedural aspects, clarifying disputed areas, Reverse charge, etc. This article highlights the important changes under Reverse charge mechanism.
Rates of Income Tax- No change in the basic exemption limit and the tax rates for individuals. Corporate tax rates proposed to be reduced from 30% to 25% over the next four years, starting from next financial year. For FY 2015-16, it is 30% same as last year. Additional surcharge @ 2% being levied on income exceeding Rs. 1 crore. This surcharge would be levied in place of Wealth-tax which is proposed to be abolished.
Download PPT in PDF format on Amendment in Direct and Indirect taxes proposed by Finance Bill 2015. Download PPT by Heads up team on Budget 2015
