Income Tax : Taxability of Short Term Capital Gain (STCG) to Non-Resident u/s 111A vis-à-vis Non Discrimination Clause of DTAA- Taxation of a ...
Service Tax : After Collecting cess in the name of Education, Higher Education, Cleanliness (Swachh Bharat Cess) now the government is also keen...
Income Tax : In this article I have compared provision related to Depreciation & Amortization under Companies Act, 1956 and Companies Act, 201...
Service Tax : Access to amusement facilities was not covered under the scope of service tax till 31st May,2015 was mainly due to the reasons th...
Goods and Services Tax : The Constitution (One Hundred & Twenty Second Amendment) Bill,2014 as proposed under Bill No. 192 of 2014 in Parliament on 19th De...
Taxability of Short Term Capital Gain (STCG) to Non-Resident u/s 111A vis-à-vis Non Discrimination Clause of DTAA- Taxation of a Non-Resident is always been a question of ambiguity and litigation for the known fact that none of the country never prefer to lose any potential income in the form of taxes and which many times results into either double taxation or illegitimate levy of tax.
After Collecting cess in the name of Education, Higher Education, Cleanliness (Swachh Bharat Cess) now the government is also keen to put burden of welfare of the Farmers on all of us (Including from the farmers for any service availed by them. Imagine person paying Tax for his own welfare which might not ultimately reach to him !!!!!) so all the person availing any services on or after 1st June,2016 or making any payment for the Services after 1st June,2016 need to make payment of additional 0.5% Cess on the value of Services. It is a move towards reaching neutral rate of GST (Goods & Service Tax) as proposed by the committee of 16% – 18% which most likely as per current situation. (So Government is trying to ensure that people absorb increase in rate in slower installments rather than sudden jump to 16% or 18% which may have practically difficulty in implementation and to reduce oppose at that point of time). Nevertheless to mention the fact that Swachh bharat Cess can be increased upto 2% as passed and provided by the Finance Act,2015. So that hanging sword may hit at any point of time as government may deemed fit and increase our burden more towards Clean India Campaign.
In this article I have compared provision related to Depreciation & Amortization under Companies Act, 1956 and Companies Act, 2013. I have explained the same in tabular form, in simple manner for better understanding of readers-
Access to amusement facilities was not covered under the scope of service tax till 31st May,2015 was mainly due to the reasons that entertainment duty falls in the State List i.e. only the State Governments can impose any kind of tax on them as per the Entry No. 62 of List II of Schedule VII of Constitution.
The Constitution (One Hundred & Twenty Second Amendment) Bill,2014 as proposed under Bill No. 192 of 2014 in Parliament on 19th December,2014 focus on setting up of an important key body for smoother , Faster and hassle free implementation of Goods & Service Tax and that is Goods & Service Tax Council.
