CA Srikant Agarwal We are uploading here Excel file containing Income Tax calculator as modified by Finance Bill 2014 presented on 10TH July 2014. The above Income Tax calculator contains the rate of tax for last 18 financial year (i.e Financial year 1997-98 to 2014-15) and income tax calculator for last 9 years (i.e Financial […]
RELIEF UNDER SECTION 89-Where by reason of any portion of an assessee’s salary being paid in arrears or in advance or by reason of his having received in any one financial year, salary for more than twelve months or a payment of profit in lieu of salary under section 17(3), his income is assessed at a rate higher than that at which it would otherwise have been assessed, the Assessing Officer shall, on an application made to him in this behalf, grant such relief as prescribed. The procedure for computing the relief is given in rule 21A. This relief is called relief u/s 89(1).
We know that the rate of abatement and applicability of RCM (Reverse Charge Mechanism) play an important role while making payment of service tax to vendor and payment of service tax under RCM. In the article we have compiled all the provisions and notifications applicable for Abatement on service tax and Reverse charge mechanism.
We have attached below the Excel file containing Income Tax calculator for Financial Year 2012-13 / Assessment year 2013-14 as modified by Finance Bill 2012 presented on 16th March 2012.
CA Srikant Agarwal The exchange rate plays an important role on the whole financial economy of any country including Indian Economy. In the recent past Indian currency (i.e Rupee) has depreciated against all the major currencies (i.e US $, Pound sterling £ , Euro € and Yen ¥) of the world and has reached to […]
We know that investment in residential property or Flats is one of the common investment avenue for individuals. Here we are trying to summarise the tax implication on sale of residential property and tax planning to save tax on the Capital Gain arising on the sale of such property.
WCT certificate need to be issued as per the requirement of respective state VAT Act. In the state of west Bengal WCT certificate need to be issued on monthly basis as per rule 47 of West Bengal VAT Rules 2005. We have prepared a Marco in excel which makes the task of preparing WCT certificate in form 18 much easier. Generally it takes around 5-8 minutes to prepare one certificate and need a lot of concentration to avoid any error.
