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CBDT extends due date for filing return to 5th August 2016


F No 225 195 2016 ITA II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block IT II DivisionNew Delhi the 29thof July 2016 Order under Section 119 of the Income tax Act 1961 On consideration of reports of Bank strike on 29thJuly 2016 Friday and the

Extension of the last date for filing of DVAT returns for 1st quarter


GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE AND TAXES pOLICY BRANCH VYAPAR BHAWAN I P ESTATE NEW DELHI 110 002 No F 7 420 VAT Policy 2011 PF 518 24 Dated 28 7 16 CIRCULAR NO 11 of 2016 17 Sub Filing of online return for first quarter of 2016 17 Extension of period thereof I

FM takes a serious view of opposition by Income Tax officers


The Union Finance Minister Shri Arun Jaitley takes a serious view of the resolution by Officers of Indian Revenue Service Income Tax against Department of Revenue The Ministry of Finance has learnt through a newspaper item which appeared today that some officers of Indian Revenue Service Income tax

Paperless PAN and TAN application process introduced


Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Sub Ease of Doing Business Paperless PAN TAN application process For fast tracking the allotment of PAN and TAN to company applicants Digital Signature Certificate DSC based application procedure has been int

New application process to fast track the allotment of PAN and TAN


For fast tracking the allotment of PAN and TAN to company applicants Digital Signature Certificate DSC based application procedure has been introduced on the portals of PAN service providers M s NSDL eGov and M s UTIITSL Under the new process PAN and TAN will be allotted within one day after complet

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Experts Opinions

Self assessment tax


MY TOTAL TAX LIABILITY IS 9840 I HAVE DEDUCTED 2000 RS U S 87A TDS OF 4736 BALANCE IS 3104 RS AFTER ADDING 3 IT COMES TO 3197 WHETHER IT IS CORRCT OR 9840 2000 7840 3 OF 7840 8080 LESS TDS 4736 3344 WHICH ONE IS CORRECT 3344 OR 3197 RS

Tax audit applicability


If person have salary income of Rs 3 lakh Shares trading profit of Rs 1 lakh and F O loss of Rs 1 50 lakh Turnover is below 1 crore Is tax audit mandatory

Penalty of income tax


whether any penalty can be paid only on demand by income tax department or paid penalty by self

Service tax credit on transit insurance policy.


Dear expert We are the manufacturer and have goods transit insurance policy this insurance related to the inward outward material Now my question is that can we availed service tax on goods transit insurance policy

Captial gain taxability


One individual sold a land as on 1st feb 2016 by receiving a advance amount of Rs 100 000 but the registry of land has to be done in month of November 2016 now the question is how the taxability of this situation is to be taken care in FY 2015 16 and 2016 17 Please assist in this case thanks

Discussion

Response to outstanding tax demand - ay2008

I got Intimation under section 245 of Income Tax Act 1961 from IT dept that I haven t paid tax for the AY 2008 on 21 07 2016 Luckily I had the form 26 AS for the AY 2008 I have updated those details in Response to Outstanding Tax Demand section in Income Tax efiling site but so far i didn t received

Income tax on deemed to be let out property

I have 2 house property 1 self occupied and another 1 is deemed to be let out property I know that I dont need to pay tax on self occupied house but I want to know would I have to pay any tax on deemed to be let out property whether I have no income from that house If I have to pay taxes on that dee

VAT/CST

HELLOSIR PLEASE HELP ME IN THIS WHAT IS C FORM HOW TO TAKE THE BANEFIT OF IT AGST SAVING OUR VAT

Who should pay service tax?

Dear Sir In the Current Financial year our Turnover was below Rs 10Laks and we are not charging service tax on our bills We requested our corporate clients to pay ST under reverse charge mechanism But the issue is one of our client didn t have ST Registration What to do in this case

Treatment of income tax refund u/s 198 of companies act

Hai all The query is regarding treatment of income tax refund for computation of profits u s 198 of the companies act 2013 Can the amount of Income tax refund along with interest be deducted from profits while calculating profit under section 198 under what circumstances can Directors remuneration b

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'Pokemon Go', like 'Taxman Go'! Enjoy It


Arjuna Fictional Character Krishna nowadays two topics are capturing the attention of everyone in India One is the mobile game Pokmon Go and the other is the Income Declaration Scheme 2016 we may call it Taxman Go One is for Finding Pokeman and other is for undisclosed income Lets enjoy it and learn


Income Tax Deductions 2016-17


Dear All Here are Income tax Deductions taking effect of amendments as per finance budget 2016 presented by Mr Arun Jaitely Income tax deduction for AY 16 17 Section 80c The maximum tax exemption limit under Section 80C has been retained as Rs 1 5 Lakh only The various investment avenues or expenses


Understanding the GST Model Law- Input Tax Credit


This is the seventh in the series of proposed articles on the GST Model law The purpose is mainly to create awareness and enable one to look at the unintended impact as maybe applicable for each sector person It could also aid in representation needed for amendment of the Model GST Law to make it ta


Netaji, aap income tax return file karo, to hum tumare saath hai?


Arjuna Fictional Character Krishna the Maharashtra Election Commission has cancelled registration of 191 political parties for not filing income tax return and audit report What will happen and what will be its consequences if a common man does not file income tax return Krishna Fictional Character


Understanding GST Model Law- Taxable person


This is the fourth in the series of articles to understand the GST Model Law The purpose is mainly to create an awareness and enable one to look at the unintended impact on his her sector It would aid in making representations to make this law tax payer friendly simple and transparent The GST Model


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Updated on : 8/2/2016 5:51:00 PM


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