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...
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 […]
The existing provisions of section 12AA of the Act provide that the registration once granted to a trust or institution shall remain in force till it is cancelled by the Commissioner. The Commissioner can cancel the registration under two circumstances: (a) the activities of a trust or institution are not genuine, or; (b) the activities […]
FM Arun Jaitley said that Modi govt budget for middle class is committed to lower taxes and lower taxes gave people money to spend which in turn helps in economic growth. FM Hikes Income Tax exemption limit in personal income tax from Rs 2 lakh to 2.5 lakh, tax exemptions limit in investments under 80C from Rs 1 lakh to Rs 1.5 lakh and interest on housing loan from self occupied property from Rs 1.5 lakh to 2 lakh. Fm also raises limit for investment in PPF from Rs 1 lakh to Rs 1.5 lakh. These measures will help salaried class and middle class to do tax saving of upto Rs 39,655.
Impact of Budget (Income Tax Amendments) on your investments/personal finance strategy: There were few changes (amendments) of Income tax in the current budget. Major highlighted were Change in Tax Slab (from Rs. 2Lakhs to Rs. 2.5Lakhs for Individuals) Increase of limit U/s. 80C (savings) – from Rs. 1Lakh to Rs. 1.5Lakh Increase in deduction of […]
The existing provisions contained in section 139 of the Act provide that every person being a company or a firm or being a person, other than a company or firm, if his total income or the total income of any other person in respect of which he is assessable under this Act during the previous […]
Amendments in Companies Act Companies Act 2013 has been enacted only last year and so far a little more than half of its provisions have come into force. Matters arising from the operation of provisions already brought in force are getting attention of Government in the form of issue of circulars, suitable statutory orders and […]
Please find attached 9th Edition of the Book on Service Tax (incorporating changes upto 15th July 2014). The book contains: – Articles on Budget 2014 changes (refer Chapter 20) – Amended legal provisions aongwith recent judicial precedences – Forewords by Shri V K Garg (Ex-Joint Secretary, TRU)
With effect from 01.10.2014, every assessee will be required to pay excise duty and service tax payable by him electronically through internet banking and there is no other option available except in certain peculiar circumstances. Therefore, with the technological advancement, the government has also adopted advanced means of revenue collection.
The recently appointed Finance Minister of India, Mr. Arun Jaitley, faced with the various challenges of reviving the growth of the ailing Indian economy, ever ballooning fiscal deficit, high inflation and standing to fulfill the promises made by the newly elected NDA government in their election manifesto, appears to have maneuvered the way to spur […]
As per provisions relating to Advance Rulings contained in section 23C of the chapter III A of central Excise Act, 1944, and similar provisions contained in Section 96A of the Finance Act, an applicant desirous of obtaining an advance ruling may make an application in such form and in such manner as may be prescribed, stating the question on which the advance ruling is sought.
