Deductor can Adjust Excess TDS in Next Financial year :Major change in Etds return :FVU 4.00
Posted Date : 01-May-2014 , 07:36:32 am | Posted By
May I Help You.
Excess TDS paid can be claimed in the next quarter as per the CIRCULAR NO. 2/2011 [F.NO. 385/25/2010-IT(B)], DATED 27-4-2011. However the circular will not be applicable to TDS on non residents falling under Sections 192, 194E, 195 of the Income Tax Act 1961.
Further as per ...
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Category : Income Tax |
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Salaried employee vs. consultant: Know the tax implications
Posted Date : 28-Apr-2014 , 08:05:40 am | Posted By
CA Vijeta Verma
You have got an offer from a company to either join as an employee or a consultant. Before you decide, know the tax implications between the two options as they differ significantly.
The income received as fees from professional or technical services rendered is classified as income from bu...
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Category : Income Tax |
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Difference between Commercial Invoice and Tax Invoice
Posted Date : 26-Apr-2014 , 04:47:25 pm | Posted By
Vijeta Nathani
Surprisingly it is a teaser now a days to many tax practicing people. Prior to VAT there were no such two terms get confused, but VAT advent has brought home this strange.
Commercial Invoice may be understood as the seller's bill of sale for the goods sold, specifying type of goods, quantity and p...
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Category : Students Zone |
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Negative List of Service Tax 2013-14
Posted Date : 21-Apr-2014 , 07:41:06 am | Posted By
Surendra Kumar Dash
Negative List of Service Tax 2013-14
Negative list of Service Tax is comprised of following 17 heads. I have given all the 17 heads of negative list of Service Tax below.
Services by Government or a local authority excluding the following services to the extent they ...
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Category : Income Tax |
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Filling IT Return Yourseif
Posted Date : 20-Apr-2014 , 08:35:32 pm | Posted By
Anchal
Like the most salaried people in India, if you have not sold any shares or mutual funds in the last one year; you only have to fill the simple ITR-1 Sahaj. Let us see how to prepare for and fill ITR-1 Sahaj. This is a simple one-hour procedure, and only needs basic comfort with MS Excel.
...
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Category : Income Tax |
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Penalties on Auditors under New Companies Act 2013 (Section 147)
Posted Date : 20-Apr-2014 , 09:24:47 am | Posted By
Vimmi
If the auditor has contravened any of his duties, he shall be punishable as below:
• required to refund the remuneration
• pay damages to the company, statutory bodies/authorities or any other person for losses arising as a result of incorrect or misleading statements in his au...
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Category : Corporate Law |
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Exemption Notification cannot be forced upon assessee
Posted Date : 19-Apr-2014 , 09:50:46 pm | Posted By
CA Bimal Jain
Dear Professional Colleague,
Exemption Notification cannot be forced upon assessee – No legal bar on paying duty & availing benefit of Modvat scheme
We are sharing with you an important judgement of the Hon’ble High Court of Delhi, in the case of Commissioner of Centra...
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Category : Service Tax |
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Classification of Services in Real Estate Transactions
Posted Date : 18-Apr-2014 , 01:41:27 am | Posted By
SARTHAK JAIN
CONSTRUCTION SERVICE V/S WORKS CONTRACT SERVICES
Dear Professional Colleagues and friends, the objective of this article is to discuss the mist that surrounds classification of a service into Construction Service or Works Contract Service, especially under the new service tax regime.
L...
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Category : Service Tax |
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Rules of Interpretation of Services in Service Tax
Posted Date : 17-Apr-2014 , 12:11:47 am | Posted By
Sagar Gupta
Despite doing away with the service-specific descriptions, there will be some descriptions where some differential treatment will be available to a service or a class of services. Section 66F lays down the principles of interpretation of specified descriptions of services and bundled services. But b...
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Category : Service Tax |
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Companies Act: Roaring time for small investors
Posted Date : 15-Apr-2014 , 08:15:43 am | Posted By
May I Help You.
Can a corporate fraud, such as the one unearthed at Satyam Computer Services, have a positive outcome for investors? The answer is yes. The scam’s magnitude and the delay in detecting it had the regulators sit up and take notice.
The new Companies Act 2013, which has taken effect from Apr...
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Category : Corporate Law |
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Highlights On New Indian Companies Act, 2013
Posted Date : 10-Apr-2014 , 07:25:54 pm | Posted By
Vimmi
Immediate Changes in letterhead, bills or other official communications, as if full name, address of its registered office, Corporate Identity Number (21 digit number allotted by Government), Telephone number, fax number, Email id, website address if any.
One Person Company (OPC):&nb...
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Category : Service Tax |
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Companies Acceptance of Deposit Rules
Posted Date : 04-Apr-2014 , 09:46:53 am | Posted By
Namrata
Companies Acceptance of Deposit (Section 73 to Section 76 of the companies Act 2013)
283 sections of the Companies Act 2013 have been made effective now. Private Companies have also been brought under the purview of the compliances of Companies Act 2013. Earlier private companies were allowed to ...
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Category : Corporate Law |
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Tax implications on giving or receiving Gifts
Posted Date : 04-Apr-2014 , 07:32:28 am | Posted By
Vimmi
Want to gift a property or life time savings to your loved ones? Or have you received a car as a gift on your birthday? Are you worried about the cash gifts received on your wedding? Enjoy giving or receiving gifts guilt-free once you are mindful of the gifting provisions in India.
As per current...
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Category : Income Tax |
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New Forms on MCA
Posted Date : 03-Apr-2014 , 11:40:26 am | Posted By
CA GOURAV MURARKA
39 new forms from 14/04/2014 plz read the same
First new form name is given then its purpose is mentioned and corresponding old forms details which we use to file
1. INC-1 Application for reservation of name – old form 1A
2. &...
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Category : Corporate Law |
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Services performed in India for a service recipient located abroad are export of services
Posted Date : 02-Apr-2014 , 04:05:16 pm | Posted By
CA Bimal Jain
Dear Professional Colleague,
Services performed in India for a service recipient located abroad are export of services We are sharing with you an important judgment of the Hon’ble CESTAT, New Delhi in the case of Gap International Sourcing (India) Pvt. Ltd. Vs. Commissioner of Servi...
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Category : Service Tax |
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Foreign Exchange Market
Posted Date : 30-Mar-2014 , 04:37:00 pm | Posted By
Keshav Kumar KC
Foreign Exchange Market
Meaning
The foreign exchange market (forex) is a global decentralized market for the trading of currencies. The main participants in this market are the larger international banks. Financial centres around the world function as anchors of tradi...
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Category : General |
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Posted Date : 16-Mar-2014 , 01:39:37 pm | Posted By
ARUN GUPTA
“WEBSITE”-WHETHER CONSTITUTES A PERMANENT ESTABLISHMENT IN THE SOURCE COUNTRY &...
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Category : Income Tax |
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salary
Posted Date : 14-Mar-2014 , 09:26:53 pm | Posted By
Anchal
Salary, in simple words, means remuneration of a person, which he has received
from his employer for rendering services to him. But receipts for all kinds of
services rendered cannot be taxed as salary. The remuneration received by
professionals like doctors, architects, lawyers...
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Category : Income Tax |
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0 | Hits : 358 |
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Chit fund business constitutes
Posted Date : 12-Mar-2014 , 06:33:37 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Chit fund business constitutes ‘transaction in money’ and not liable to service tax Recently, the Hon’ble Supreme Court of India, dismissed the SLP filed by the Union of India against the judgment of the Hon’ble Delhi High Court in the case of U...
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Category : Service Tax |
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Inflation Indexed Bonds: Now Savings Outperform Inflation
Posted Date : 11-Mar-2014 , 04:52:04 pm | Posted By
HIMANSHU GUPTA
Inflation Indexed Bonds: Now Savings Outperform Inflation
Investors who desire predictable real cash flows can now include indexed bonds in their portfolios. The certain real return will be attractive to investors ...
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Category : Finance |
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0 | Hits : 978 |
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