Know TDS Filing Due Dates & Penalties for Non/Wrong Filing of TDS Returns
Posted Date : 29-Jul-2014 , 12:43:27 pm | Posted By
Vimmi
Below are the important due dates for filing of TDS Return, but the same are subject to extension by the CBDT for specific quarters of a particular financial year.
To avoid any mistake it is very important to know the pertinent form number applicable of each TDS return filing, such as;
&...
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Category : Income Tax |
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TDS Rates and Threshold Limit for Financial Year 2014-15
Posted Date : 29-Jul-2014 , 12:35:48 pm | Posted By
Vimmi
Find the table below for the TDS (Tax Deduction at source) rates and threshold limit for financial year 2014-15 or assessment year 2015-16. In this table there is complete list of the payment on which TDS is deducted, threshold limit, assessee type (tax payer) and rate of TDS.
Also note; Threshold ...
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Category : Income Tax |
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MAJOR CHANGES IN NEW 3CD
Posted Date : 29-Jul-2014 , 09:59:52 am | Posted By
CA GOURAV MURARKA
1. Particulars of registration under excise, vat, iec, service tax etc to be given
2. Location(s) (address(s)) of keeping books of accounts to be given
3. Particulars of sale of Land/Building less than Stamp value to be given
4. Comparison of amount debited vis a vis amoun...
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Category : Auditing |
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Capital Gains on Property Development Agreements
Posted Date : 22-Jul-2014 , 08:05:09 pm | Posted By
ARUN GUPTA
PROPERTY DEVELOPMENT AGREEMENTS-CHARGEABILITY TO CAPITAL GAINS
&n...
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Category : Income Tax |
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How to Conduct Concurrent Audit of Banks
Posted Date : 22-Jul-2014 , 07:59:24 pm | Posted By
Vimmi
Areas to be Covered
Bank Concurrent Audit is a kind of internal audit where auditor responsibility is to review and correct assign bank branch internal control system.
However compare to other internal audit, concurrent audit is little different; in concurrent audit auditor seats i...
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Category : Auditing |
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TDS on Commission Payments to Foreign Agents
Posted Date : 17-Jul-2014 , 07:39:41 pm | Posted By
ARUN GUPTA
Dear Sir, I am sharing with your goodself an important latest judgement relating to International Taxation. ACIT vs T.Abdul Wahid & Co.(Chennai Tribunal - IT APPEAL NO. 84 and 85 OF 2014 APRIL 10, 2014) ISSUES INVOLVED :-
Whether commissi...
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Category : International Taxation |
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Highlights of Changes in Indirect Taxes viz. Service Tax, Excise and Customs - Union Budget 2014
Posted Date : 11-Jul-2014 , 12:43:32 am | Posted By
CA Bimal Jain
Dear Professional Colleague,
The Union Budget, 2014 presented by the Finance Minister today is promising on building consumer’s confidence, investor’s confidence & overall confidence and taken several steps to improve fiscal situation and boost growth of Indian economy to 7-8% in co...
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Category : Service Tax |
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E-Voting as per Companies Act 2013
Posted Date : 08-Jul-2014 , 04:35:22 am | Posted By
Kashif Ali
E-VOTING AS PER COMPANIES ACT 2013
General meetings of companies are held at their registered offices and it is not possible for every member specially a members holding minor shares to travel upto the registered office of the company and participate in the general meeting of the company. &n...
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Category : Corporate Law |
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CBEC seeks adherence to judicial discipline in the matter of refunds
Posted Date : 02-Jul-2014 , 12:40:46 pm | Posted By
CA Bimal Jain
CBEC seeks adherence to judicial discipline in the matter of refunds The Central Board of Excise & Customs (“the CBEC”) has issued Instruction F. No. 201/01/2014-CX.6 dated June 26, 2014 (“the Instruction”) for all the Commissioners to follow judicial discipline in the m...
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Category : Excise |
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HAPPY CA'S DAY !!!! A Tribute to all Chartered Accountants!!!
Posted Date : 30-Jun-2014 , 08:59:33 pm | Posted By
May I Help You.
AK-47 (Companies Act, 2013) ka samna Karta Hua "WO DEKHO CHARTERED ACCOUNTANT JAA RAHA HAI"
Deadline ke bojh tale daba jaa raha hai, Vat, Service Tax, TDS Har mahine aa jaate hai, Time se na bharo toh Notices Aa jaate Hai Wo dekho ek Chartered Accountant ja raha hai,
Clients ko sam...
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Category : General |
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Waiver of interest by assessee does not detract Revenue
Posted Date : 27-Jun-2014 , 06:23:05 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Waiver of interest by assessee does not detract Revenue’s statutory obligation to grant interest on belated refund We are sharing with you an important judgement of the Hon’ble High Court of Allahabad, in the case of Shree Balaji Aromatics (P.) Ltd. Vs. Uni...
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Category : Excise |
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Applicability of the Companies Act, 2013 for Examinations from December 2014 onwards
Posted Date : 21-Jun-2014 , 07:35:17 am | Posted By
Surendra Kumar Dash
ATTENTION STUDENTS OF FOUNDATION, EXECUTIVE AND PROFESSIONAL PROGRAMMES (New Syllabus)
Applicability of the Companies Act, 2013 for Examinations from December 2014 onwards It is informed that the provisions of the Companies Act, 2013 and the rules and regulations made thereund...
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Category : Students Zone |
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First Report of the Tax Administration Reform Commission (TARC)
Posted Date : 19-Jun-2014 , 06:16:50 pm | Posted By
CA Bimal Jain
First Report of the Tax Administration Reform Commission (TARC) The Government had constituted Tax Administration Reform Commission (“the TARC”) headed by Dr. Parthasarathi Shome, in August 2013, to suggests core reforms to the tax administration set-up in the Country. The TARC has now ...
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Category : Service Tax |
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Service tax paid by Service provider, on being pointed out by Department, can be treated as business expenditure
Posted Date : 13-Jun-2014 , 07:17:32 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Service tax paid by Service provider, on being pointed out by Department, can be treated as business expenditure We are sharing with you an important judgment of the Hon’ble High Court of Gujarat in the case of Commissioner of Income Tax-III Vs. Kaypee Mechanical...
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Category : Service Tax |
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SECTION 80EE ( New Section inserted in F.A.2013)
Posted Date : 12-Jun-2014 , 08:36:36 am | Posted By
Surendra Kumar Dash
SECTION 80EE:
DEDUCTION FOR INTEREST ON LOAN TAKEN FOR RESIDENTIAL HOUSE PROPERTY
Assessee can avail the benefits of this section in two A.Y. 2014-15 & 2015-16.Purpose of this section is to promote house ownership & give a fillip to a number ...
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Category : Income Tax |
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Direct Tax updates: Recent Judgements - From the Courtroom
Posted Date : 05-Jun-2014 , 11:41:16 am | Posted By
CA Abhay Agrawal
Tribunal
Subsequent commercial-use cannot disentitle Sec 54F exemption if building constructed for residential-purpose: Relevant factor to judge is whether construction is made for residential house or commercial purpose, merely because building used as a school cannot change natu...
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Category : Income Tax |
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New Section 87A
Posted Date : 03-Jun-2014 , 12:37:18 pm | Posted By
Vivek Sahu
As per the Central Finance Budget 2013, a new Income Tax Section has introduce under section 87A, where can get relief as well as Rebate Maximum Rs. 2,000/- who’s taxable income up to 5,00,000/-. For more clarification about this new section under clauses 19 & 20 of the Central Budget 2013...
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Category : Income Tax |
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Filing or Non -Filing of Income Tax Return u/s.139(1) and 139(1C)
Posted Date : 02-Jun-2014 , 03:51:38 pm | Posted By
Vivek Sahu
Specified class or classes of persons to be exempted from filing Return of Income [Section 139(1C)].
(1) Under section 139(1), every person has to furnish a return of his income on or before the due date, if his total income exceeds the basic exemption limit.
(2) For reducing the compliance bu...
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Category : Income Tax |
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Some Gifts from non-relatives are tax-exempt
Posted Date : 02-Jun-2014 , 07:55:32 am | Posted By
Vimmi
A gift from someone is always welcome. The hitch is when some, especially financial gifts, become taxable. Even so, not always; gifts from relatives are exempt from income tax (I-T). And, gifts from non-relatives can also be tax-exempt, under certain conditions.
Some assets fo...
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Category : Income Tax |
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Services provided to Foreign Principals for marketing their products in India qualify as an export of service
Posted Date : 31-May-2014 , 02:12:51 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Services provided to Foreign Principals for marketing their products in India qualify as an export of service We are sharing with you an important judgement of the Hon’ble CESTAT, Delhi, in the case of Commissioner of Service Tax, Delhi Vs. Menon Associates [2014...
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Category : Service Tax |
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