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Archive: 15 April 2015

Posts in 15 April 2015

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6456 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

PPF account premature closure only in cases of extreme compassionate ground

April 15, 2015 3837 Views 0 comment Print

Public Provident Fund Accounts– requests for premature closure Recently, there has been a considerable increase in the number of cases being forwarded by Circles to the Directorate for taking up with the Ministry of Finance, relating to premature closure of PPF accounts. The Ministry of Finance have noticed that very few of them qualify for […]

PPF account- How to Change name of depositor

April 15, 2015 28570 Views 1 comment Print

When a depositor changes his name, g. on adoption or otherwise or in the case of female depositor, on marriage, the depositor should be required to intimate the fact in writing to the post office and produce the pass book of the account. The intimation should bear the depositor’s signature with the old as well […]

FAQs For Members – Universal Account Number (UAN)- EPFO

April 15, 2015 15149 Views 1 comment Print

UAN stands for Universal Account Number to be allotted by EPFO. The UAN will act as an umbrella for the multiple Member Ids allotted to an individual by different establishments. The idea is to link multiple Member Identification Numbers (Member Id) allotted to a single member under single Universal Account Number.

Notification No. 37/2015-CUSTOMS (N.T.) Dated- 15th April, 2015

April 15, 2015 754 Views 0 comment Print

Notification No. 37/2015-CUSTOMS (N. T.) Dated- 15th April, 2015 In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance

Cenvat credit on civil construction services for factory shed

April 15, 2015 22415 Views 0 comment Print

Cenvat credit allowed on civil construction services for construction of factory shed, which is falling under setting up of factory premises- Commissioner of Central Excise, Delhi III, Gurgaon Vs. KML Molding [2015-VIL-171-CESTAT-DEL-CE]

No Service tax liability arise on loans & advances, if it is revealed in audited balance sheet

April 15, 2015 9591 Views 0 comment Print

Investigation of the Appellant was initiated on November 26, 2007 by the officers of DGCEI and it was alleged that the financial support given to Appellant by RCM in terms of the Master Service Agreement dated April 10, 2007 (the Agreement) was in the nature of advance for the taxable services rendered or to be rendered by the Appellant to RCM and is required to be set off against the bills that would be raised later by the Appellant on RCM.

Period of limitation not apply in case of refund of Service tax paid inadvertently

April 15, 2015 3803 Views 0 comment Print

Shravan Banarasilal Jejani (the Appellant) is the owner of the residential flats sold to them by the builder who paid Service tax on the residential flats. However, in terms of the Circular No. 108/2/2009-ST dated January 29, 2009 (the Circular), there was no Service tax liability on sale of the residential flats on the Appellant.

CBDT Notifies ITR-1 ITR-2 ITR-4S ITR-V for A.Y. 2015-16

April 15, 2015 109779 Views 0 comment Print

Notification No. 41/2015 – Income Tax CBDT has notified ITR 1, ITR 2 & ITR 4S for AY 2015-16 and amended Rule 12 vide Notification No. 41/2015, Dated-15th day of April, 2015. For AY 2015-16, ITR 1, ITR 2 & ITR 4S where returned income is greater than 5 Lakhs or where Refund is claimed (except where the person is 80 years or more and filing ITR 1 or 2) and ITR 3, ITR 4, ITR 5, ITR 6 & ITR 7 are mandatorily required

CBDT notifies IIT, Bhubaneswar as scientific research association U/s. 35(1)(ii)

April 15, 2015 1051 Views 0 comment Print

Notification No. 40/2015 – Income Tax It is hereby notified for general information that the organization Indian Institute of Technology Samantapuri Bhubaneswar (PAN – AAAAI2760A) has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962from Assessment year 2014-2015 and onwards under the category of University College or other Institution, engaged in scientific research activities

New rate of Service tax to come into effect only from a date to be notified after enactment of Finance Bill, 2015

April 15, 2015 3644 Views 0 comment Print

CA Bimal Jain The Union Budget, 2015 has proposed an increase in the rate of Service tax from 12.36% to flat 14% with abolishment of Education cess and Secondary & Higher Secondary Education cess. Further pursuing with Mr. Narendra Modi’s Dream of Swachh Bharat, a new Chapter VI has been inserted in the Finance Bill, 2015 […]

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