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ajay jain tax notes


FM releases FAQ on GST

The Union Finance Minister Shri Arun Jaitley releaseda Booklet containing Frequently Asked Questions FAQs relating to Goods and Services Tax GST Speaking on the occasion the Finance Minister Shri Jaitley lauded the efforts of the officials associated in the preparation of the booklet He complimented

Certificates will be issued to individual taxpayers

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Sub Finance Minister conveys Governments Appreciation to tax payers for their contribution towards Nation building The Government acknowledges the contribution of individual tax payers in paying taxes within

MVAT rates increased to 6%

FINANCE DEPARTMENT Madam Cama Marg Hutatma Rajguru Chowk Mantralaya Mumbai 400 032 dated the 16th September 2016 NOTIFICATION MAHARASHTRA VALUE ADDED TAX ACT 2002 No VAT 1516 CR 123 Taxation 1 In exercise of the powers conferred by sub section 1 of section 9 of the Maharashtra Value Added Tax Act 20

CBDT clarifies on taxpayers response to IDS 2016

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi 15th September 2016 Sub CBDT clarifies unconfirmed reports on IDS 2016 Certain sections of the press have been speculating on the taxpayer response to the currently on going Income Disclosure Scheme

Further instruction regarding Income Declaration Scheme

Instruction No 8 of 2016 F No 142 8 2016 TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi the 15th September 2016 To All The Principal Chief Commissioners of Income tax Sub The Income Declaration Scheme 2016 reg The Income Declaration Scheme 2

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Experts Opinions

Sale Tax Rate Quarry

Dear Sir I want to know the full rate of tax in Uttarakhand

Composition tax paid by hotelier accounting treatement

Hello Experts Kindly guide me with the treatment of composition tax payment made by a Hotelier of karnataka in books of Account who does not collect vat or cot on sales but pays 4 of Turnover as tax Whether the tax payment made by dealer is expenses or liability Is composition tax payment allowable

Service tax on receiver

whether service receiver liable to pay service tax if service provider does not deposit service tax in normal condition NOT RCM

Service tax on health care services

Hello seniors i would like to know about whether service provided by hospital is cover under service tax or not and specially entity is LLP and multi specialist hospital i hope i will received prompt and response from my senior thank and regard

Intercorporate Loan Tax implication

What are the Tax implications on Inter Corporate Loans on Loan given by holding Listed Company to a Subsidiary Company Unlisted Public Limited Company apart from TDS on Interest Is there minimum Interest rate to be charged If yes please provide a reference Does it amount to Specified domestic transa


Income tax return

Hello I filled my ITR in July ending But didnt Recieved my Intimation till now i am little bit confused as all ither have recived there please guide regarding this it is causing me fear too

Nre account taxability for rnor

Is interest on FD held in NRE account taxable for Resident but not ordinary resident RNOR in India The bank said that he can keep the FDs in NRE account till maturity even after he moved to India Please guide me about the taxability of this interest income Bank is not deducting any TDS Thanks

Tax practioner vs tax consultant

Is there difference between tax consultant and tax practioner A registered tax practioner has the right to represent client against tax authorities however a tax consulatnt does not The provisions for registration apply to a tax practioner and not a tax consultant So in view of all the above can a p

query about sec.195 of

as per sec 195 6 any person paying to NR any sum whether chargeable or not shall furnish the info relating to payment of such i want to know that as per plain reading of this section this section covers very Wilder area that is any person in the world making payment to NR other than resident i e all

How to file tax for a company which has only directors

Hi All We have a Private Limited company registered in Oct 2015 The company has not made any transactions so far and we are planning to file NIL return We did not file returns for the last financial year Can someone guide me how to file NIL return for the company Is it possible to file it online mys

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The Service Tax Registration Guide for India

Service based businesses in India with a turnover of over Rs 9 lakh in a financial year must have a service tax registration This applies to nearly all service providers barring a few that appear on the negative list such as educational institutions gymkhanas and cultural organisations Service tax i

One India, One Tax - GST

Introduction GST will be a game changing reform for the Indian economy by creating a common Indian market and reducing the cascading effect of tax on the cost of goods and services It will have an impact on the tax structure tax incidence tax computation tax payment compliance credit utilization and

Ashtavinayaka, what are the Astha Mahima of Tax Audit?

Arjuna Fictional Character Krishna from today celebration of festival of Lord of knowledge and Vignaharta Shri Ganesha has started with full of joy Everywhere the devotees are busy in preparation of the festival Similarly the taxpayers are busy in filing tax audit report and income tax return as the

Implementation of good and services tax (GST) in India

TheGoods and Service Tax GST is a Value Added Tax VAT have been passed in the Rajya Sabha on Aug 3 2016 With 203 vote in favour of the bill after a long struggle This has become a huge success for the NDA government which was reflected in the voice of the Finance Minister saying it was a historic da

Rules for Grant of Foreign Tax Credit in India

Rules for Grant of Foreign Tax Credit in India Central Board of Direct Taxes CBDT has vide Notification no 54 2016 dated 27th June 2016 notified Rules for grant of Foreign Tax Credit FTC The said rules are applicable from Assessment Year 2017 18 onwards Earlier the CBDT had released draft FTC rules

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Updated on : 9/25/2016 3:41:13 PM




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