Two more services have been included in the negative list for service tax. These are: Vocational courses offered by institutes affiliated to the State Council of Vocational Training; and, testing activities in relation to agriculture and agricultural produce.
Rebates/ Deductions/ Incentives for Individuals Tax rebate of Rs. 2,000 for Resident Individuals for FY 2013-2014 Total Income does not exceed Rs. 5 lacs
As we all know to open Income tax Return Acknowledgments we have to insert password every time we open the file. So we must be aware of password every time we have to open these files. We can remove such password from the PDF/ ITR files so that we do not have to insert password every time we wants to view / open such files.
We have hereby attempted to elucidate and analyze the major and important amendments proposed in the Direct Tax and Service Tax Laws, with their implications; and are sure that the same would be handy to you.
Scheme to whom it is applicable? The person who has not paid the tax dues. Tax Dues means the service tax due or payable under the Chapter or any other amount due or payable under Section 73 A thereof for the period beginning from 1st day of October 2007 to 31st December 2012 including a CESS, leviable thereon under any other ACT for the time being in force but not paid as on 1st Day of March 2013.
a new scheme has been introduced for defaulter – service tax assessees named as Service Tax Voluntary Compliance Encouragement Scheme. While announcing this scheme, it was said by hon’ble Finance Minister that there are nearly 17,00,000 registered assessees under service tax,
CA Srikant Agarwal We have uploaded below Income Tax Calculator for Financial Year 2013-14 or Assessment Year 2014-15 after making the changes effected by union budget 2013-2014. The calculator calculates Income Tax from Financial Year 2006-07 to 2013-14 and also contains Income Tax Rate for the period from 1997-98 to 2013-14. The Calculator calculates tax […]
The Direct Taxes Code Bill is to be re-introduced before the end of this Budget Session. The Bill is expected to give due weightage to the recommendations of the Parliamentary Standing Committee on Finance and incorporate the best global practices. The other major proposals on the direct taxes front are as follows –
Service tax 1. Voluntary Compliance Encouragement Scheme, 2013 (VCES) is proposed to be introduced to encourage voluntary compliance and broaden the tax base. In this scheme, it is proposed to provide one time amnesty by way of (i) waiver of interest and penalty; and (ii) immunity from prosecution, to the stop filers, non-filers or non-registrants […]
Notification No. 3/2013 – Service Tax – 1st March, 2013 Two more services have been included in the negative list for service tax. These are: Vocational courses offered by institutes affiliated to the State Council of Vocational Training; and, testing activities in relation to agriculture and agricultural produce.
