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...
Failure to produce accounts and documents Levy of penalty made mandatory. It is proposed to remove the monetary limit of fine and also proposed mandatory levy of fine. The existing provisions of section 276D of the Act provide that if a person willfully fails to produce accounts and documents as required in any notice issued […]
Obligation to furnish statement of Information Name of annual information return is proposed to be substituted with statement of financial transaction or reportable account in view of amendment to section 285BA. The existing provisions of section 285BA of the Act provide for filing of an annual information return by specified persons in respect of specified […]
Highlights of the Speech of Shri Arun Jaitley, Union Finance Minister of Finance Made While Presenting the Budget of the National Capital Territory(NCT) of Delhi for the Year 2014-15 Following are the Highlights of the Speech of the Union Finance Minister Shri Arun Jaitley made while presenting the Budget of the National Capital Territory (NCT)of […]
Mode of acceptance or repayment of loans and deposits ECS, RTGS and NEFT etc. are now proposed to be allowed as permissible mode to accept or repay the deposit or loan specified under section 269SS and 269T respectively. The existing provisions contained in section 269SS of the Act, inter alia, provide that no person shall […]
The existing provisions of sub-section (1) of section 115JEE of the Act provide that the provisions of Chapter-XI I BA shall be applicable to any person who has claimed a deduction under part C of Chapter VI-A or claimed a deduction u/s 1 0AA. Further the present provisions of sub-section (2) of section 1 15JEE […]
Interest payable by the assessee under section 220 Interest under section 220 is proposed to be increased or decreased as consequent to any appeal, rectification or revision from the date of expiry of period stated in the notice of demand under section 156 of the Income Tax Act, 1961.
Estimate of value of assets by Valuation Officer Power given to AO to get a valuation report of any asset, property or investment. Earlier powers of AO were restricted to bullion, jewelry or any other valuable article or thing. Under the existing provisions contained in section 142A, the Assessing Officer may, for the purpose of […]
CA Sanjeev Singhal Download PPT on Budget 2014 highlights on Income Tax Download PPT Budget 2014 highlights on Service Tax
Jagdishkumar Gor 1. Pre-deposit Made Mandatory in Appeal Procedures for Central excise, Customs & Service Tax. Significant amendment to Section 35F of the Central Excise Act, 1944 and Section 129E & 129B of the Customs Act, 1962 and proposed Mandatory (1) 7.5% pre-deposit of duty demanded or penalty imposed or both for filing appeal before […]
Power of survey The existing provision contained in section 133A of the Act enables the Income-tax authority to enter any premises in which business or profession is carried out for the purposes of survey. An income-tax authority acting under this section may impound and retain in his custody any books of account or documents inspected […]
