Income Tax : A question which is coming in the mind of Taxpayers nowadays is do Rebate of income-tax under section 87A as available from FY 201...
Income Tax : The Income Tax Act provides deduction under section 80C against Principal Repayment and exemption under Section 24(b) on Interest ...
Service Tax : Through this article we would like to bring to the kind attention of all my professional friends about a small change made by Gove...
Service Tax : CA Sumit Grover Analysis of Notification No. 26/2014 – Central Excise (N.T.) Dated- 27th August, 2014 Service tax on transportat...
Service Tax : Hence, to broaden the tax base in Service tax, Sale of space or time for advertisements in broadcast media, namely radio or telev...
Income Tax : We are Enclosing herein below copy of Finance(NO.2) Act, 2014 assented by Hon’ble President of India. Download Download Fi...
Income Tax : Finance(No. 2) Bill, 2014 has received the assent of the President on 6th August, 2014, published in the Gazette of India, dated 6...
Income Tax : Finance bill 2014 Final was presented by Finance Minister Shri Arun Jaitley on 10th July 2014. The bill got approval of Lok Sabha ...
Corporate Law : Highlights of the Speech of Shri Arun Jaitley, Union Finance Minister of Finance Made While Presenting the Budget of the National ...
Company Law : Amendments in Companies Act Companies Act 2013 has been enacted only last year and so far a little more than half of its provision...
Service Tax : (a) private limited company shall have the same meaning as is assigned to private company in clause (68) of section 2 of the Compa...
Service Tax : Budget 2014- Changes in Place of Provision of Services Rules, 2012 Vide Notification No. 14/2014-ST Dated 11-7-2014 (Effective Fro...
Service Tax : (a) if payment is made within a period of six months of the date of invoice, be the date on which payment is made; (b) if payment ...
Service Tax : 18 per cent. for the first six months of delay; 24 per cent. for the period beyond six months up to one year and 30 per cent. for ...
Service Tax : G.S.R. 480(E).- In exercise of the powers conferred by clause (aa) of sub-section (2) of section 94 of the Finance Act,1994 (32 of...
(a) private limited company shall have the same meaning as is assigned to private company in clause (68) of section 2 of the Companies Act, 2013 (18 of 2013);
G.S.R. (E). – In exercise of the powers conferred by section 83 of the Finance Act, 2010 (14 of 2010) read with section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby rescinds the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.3/2010-Clean Energy Cess,
Notification No. 19/2014-Central Excise Dated – 11th July, 2014- Amendment in Notification No.67/95-Central Excise, dated the 16th March, 1995 – Exemption to all capital goods and specified inputs if captively consumed within the factory of production
In the said notification, in the TABLE, after serial number 1 and entries relating thereto, the following serial numbers and the entries shall be inserted, namely:-
The rate of duty per packing machine per month for a chewing tobacco (other than filter khaini) pouch not containing lime tube and having retail sale price of ₹ 55.00 (i.e. „P‟) shall be = ₹ 388.15 + 7.76*(55-50) lakhs = ₹ 426.95 lakhs.
The rate of duty per packing machine per month for a pan masala pouch having retail sale price of ₹ 8.00 (i.e. P) shall be= ₹ 89.40 + 14.58 x (8-6) lakhs = ₹ 118.56 lakhs
Government has raised Home/ Housing Interest Exemption amount under section 24 from Rs. 1.50 Lakh to Rs. 2 Lakh WEF Assessment Year 2015-16 in respect of Loan Taken for Purchase of Self Occupied House Property.
that an officer not below the rank of a Deputy Secretary to the Government of India, in the Ministry of New and Renewable Energy recommends the grant of this exemption, indicating the quantity, description and specification of the goods and certifies that they are required for initial setting up of a solar power generation or solar energy production project or facility, as the case may be; and
in the opening paragraph, after the words, “initial setting up of a project for the generation of power”, the words, brackets and letters “or generation of compressed bio-gas (Bio-CNG)” shall be inserted;
In order to encourage household savings, it is proposed to raise the limit of deduction allowed under section 80C from the existing Rs. 1 lakh to Rs.1 .5 lakh. In view of the same, consequential amendments are proposed in sections 80CCE and 80CCD of the Act.
