"April, 2016" Archive

Whether ‘Google Adsense’ Liable to be Taxed under Service Tax?

Prior to 2014, Digital Ads were specifically exempted from the levy of service tax in India and were specifically mentioned in the Negative List of Services. However, this exemption has now been withdrawn and Digital Ads are no longer part of the Negative List of Services. As this exemption has now been withdrawn, Service Tax on digital a...

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Posted Under: Service Tax |

Checklist on Companies (Auditor’s Report) Order, 2016

CA Rahul Modi Applicability :- Companies (Auditor’s Report) Order, 2016 is Applicable to all companies except the following type of Companies :- 1. Banking companies 2. Insurance Companies 3. Section 8 Companies 4. One person Companies It also exempts private companies (not being subsidiary or holding company of a public company ) upon ...

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Hey Examinee! “Do thy duty, Result is not thy concern!!”

What happened, if your exams on head? What has been prepared, peacefully go with that. Reach to exam center, with full enthusiasm & zeal. Nothing will debar you, to take/handle & settle big deal....

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Posted Under: Service Tax |

Appeal to Commissioner (Appeal) under Service Tax

major source of revenue to the government. Service tax being complicated on many issues and interpretation often lead to litigation. Government has also expanded the service tax department considerably to stop and find out tax evasion. ...

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Posted Under: Service Tax |

Goods and Services Tax: Indian Story So Far

Goods and Services Tax (GST) refers to the single unified tax created by amalgamating a large number of Central and State taxes presently applicable in India. The latest constitution Amendment Bill of December 2014 made in this regard, proposes to insert a definition of GST in Article 366 of the constitution by inserting a sub-clause 12A....

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Posted Under: Service Tax |

Revision in TDS due date & Supporting for claim of Deduction from Salary

Notification No. 30/2016-Income Tax (29/04/2016)

26C. Furnishing of evidence of claims by employee for deduction of tax under section 192.- (1) The assessee shall furnish to the person responsible for making payment under sub-section (1) of section 192, the evidence or the particulars of the claims referred to in sub-rule (2), in Form No.12BB for the purpose of estimating his income or ...

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ICAI President's Message May 2016

The Indian accountancy profession has consolidated itself internationally to register its wise, strong and empowering global presence. Today, Th e Institute of Chartered Accountants of India produces world-class professionals who along with the desired IT and soft skills are professionally competent and fi t to work in and for internation...

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Posted Under: Service Tax |

Process-Compounding of delay In filing Resolution in Form MGT 14

AS PER SECTION-117 OF COMPANIES ACT, 2013: Sub- Section 1 of Section- 117: A Copy Of Every Resolution or any agreement, in respect of matters specified in sub-section (3) *** together with the explanatory statement under section 102, if any, annexed to the notice calling the meeting in which the resolution is proposed, shall be […]...

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Posted Under: Service Tax |

Name Approval Guidelines For Companies Under Companies Act, 2013

In old Companies Act, 1956 Ministry had issued name availability guidelines by way of (Companies (Name Availability) Rules, updated in 2011). In the new Companies Act, 2013 name availability guidelines for Company are given under Rule 8 of the Companies (Incorporation) Rules, 2014. Given below are precautions that must be kept in mind whi...

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Posted Under: Service Tax |

TDS on Commission paid to non-resident for services rendered outside India?

CIT Vs Farida Leather Company (Madras High Court)

In the instant case, it is seen, admittedly that the nonresident agents were only procuring orders abroad and following up payments with buyers. No other services are rendered other than the above. Sourcing orders abroad, for which payments have been made directly to the non-residents abroad, does not involve any technical knowledge or as...

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