Service tax leviable currently on sale of space or time for advertisements in broadcast media, namely radio or television, has been extended to cover such sales on other segments like online and mobile advertising. Sale of space for advertisements in print media, however, would remain excluded from service tax. Print media is being defined in service tax law for the purpose. This change will come into effect from a date to be notified later, after the Finance (No.2) Bill, 2014 receives the assent of the President.
A comprehensive guide to income tax return filing for non-audit and non-corporate individuals. Learn about the process and important concepts.
Entry 82 of the Union List of Schedule VII of the Constitution of India empowers central government to levy tax on all income other than agricultural income. The government of India imposes an income tax on taxable income of all persons including individuals, Hindu Undivided Families (HUFs), companies, firms, association of persons, body of individuals, local authority and any other artificial judicial person. […]
Government of India, Ministry of Finance, Department of revenue, Tax Research Unit D.O.F. No. 334/15/2014-TRU, Dated July 10, 2014. Sub.: Union Budget, 2014-15: Changes in Service Tax – reg. The hon‟ble Finance Minister has, while presenting the Union Budget 2014-15, introduced the Finance (No.2) Bill, 2014 [hereinafter, the Bill] in the Lok Sabha on the […]
Pursuant to Section 2 (31) deposit includes any receipt of money by way of deposit or loan or in any other form by a Company, but does not include such categories of amount as may be prescribed in Rule 2(c). Further the definition of Deposit must be read with Rule 2(c) of Companies (Acceptance of Deposits) Rules, 2014.
People leave their home countries for greener pastures and other reasons such as career growth, international exposure, lifestyle improvement etc. There are those who stay back in the host country and make it their home while others move back after a long stay. Nostalgia draws many such wanderers back to their people in their homeland. […]
Discover which forms to use and important deductions for filing income tax returns. Make the most out of your IT-Return with these tips.
Vide Notification No. 32/2014 dated 23-06-2014, CBDT has made mandatory filing of Wealth Tax Return only by electronic means for certain persons including Company and an assessee being individual or HUF who is liable to audit u/s 44AB. From Assessment Year 2014-2015 onwards, Company and an assessee being individual or HUF who is liable to […]
CBDT wide its notification No. 32/2014 dated 23.06.2014 has amended the Wealth–Tax Rules, 1957. As per notification electronic filing of wealth tax return under the digital signatures has been made mandatory except in cases of individual or HUF assessees
CS Divesh Goyal ♣ MEANING OF PRIVATE COMPANY As per Section 2(68) “Private Company” means a company having a minimum paid-up share capital of ONE LAKH rupees or such higher paid-up share capital as may be prescribed, and which by its articles,— (i) Restricts the right to Transfer its Shares; (ii) Limits the Number […]
