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.
One Person Company is new concept under the Companies Act, 2013. Previously, there was no such type of concept. One Person Company means a company which has only one person as a member. That type of Company Called One Person Company (Section 2(62)).
CA Sandeep Kanoi ICAI has declared the Result of Chartered Accountancy Final Examination held in November 2013 on Wednesday 15th January 2014. Of the 32,536 candidates (both groups) who appeared for the final exam, the number of those who passed both groups in this attempt stood at only 1013, resulting in a pass percentage of […]
Please find attached 8th Edition of the pdf book on Service Tax (incorporating changes upto 14th January 2014) . The book contains: – Amended legal provisions aongwith recent judicial precedences – Forewords by Shri V K Garg (Ex-Joint Secretary, TRU)
Notification No. 15/2012 covers following kind of services under reverse charge along with the percentage of tax liability payable by service provider and service receiver respectively. We have divided the services covered by the Notification under five categories for ease of reference.
CBDT has examined the matter afresh and clarified vide Circular No. 1/2014 dated 13-1-2014 (Produced Below) -“TDS under Chapter XVII-B of the Income-tax Act, 1961 on service tax component comprised of payments made to residents” that wherever in terms of the agreement/contract
Deduction under section 80 CCG a new scheme was introduced to encourage flow of saving in financial instruments and improve the depth of domestic capital market. However, it also aims to promote an ‘equity culture’ in India. This is also expected to widen the retail investor base in the Indian securities markets and further the goal of financial stability and financial inclusion.
Government dues tendered in the form of a cheque or draft which is accepted under the provisions of rule 19 and is honoured on presentation, shall be deemed to have been paid- i. where the cheque or draft is tendered to the bank, on the date on which it was cleared and entered in the receipt scroll;
For Tax payers: Non/ Late filing of TDS statements results into the TDS Credit not being available to the deductees (employees / vendors) for claiming the amount of tax already deducted from the payments made to them besides generating correct TDS Certificates for them.
As you are aware, it is mandatory for AOs to file Form No. 24G on monthly basis with in the prescribed time. Based on the particulars reported in Form No. 24G, Book Identification Number (BIN) is generated and intimated to the respective AOs by TIN Central System. AOs can download BIN from TIN Portal. AOs […]
