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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

Govt reiterates information shared under IDS will not be shared with any authority


Government reiterates that information contained in a valid declaration under the Income Declaration Scheme 2016 is confidential and shall not be shared with any authority The Income Declaration Scheme 2016 the Scheme provides an opportunity to persons who have not paid full taxes in the past to com

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Experts Opinions

Service tax


We are services provider Job worker We receive goods from manufacturers for further processing under challan 4 5 a challan After process we send goods back to manufacturer with processing charges without service tax Now what will be the procedure for this process under GST Whether we will continue n

Income Tax Refund Received 3,23,345/-


Dear Experts Could you please tell me that if company received tds for F y 2014 15 in the year 2015 16 what entry will be made in the company books Assessment has not been done for the year 2014 15

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

Discussion

Turnover calculation sec 44ad from 2 sources of income

Hello freinds Help me get a clear interpretation of Presumptive Taxation Sec 44AD If an individual has 2 business will the total gross turnover from both business be considered for calculating Rs 2 Crore limit for Financial Year 2016 17 AY 2017 18 or individual turnover from each business Eg Busines

Income tax

If some body take claim in H R A Interest 2 lacs rs can also claim Deduction Under 80 C for 1 50 lacs in case of loan

Is maturity amount of nhai/rec bond after 3 years taxable?

Dear CAclubIndia Member experts I have just sold the ancestral property of my father For saving purpose if i invest 50 00 000 in NHAI REC bond u s 54EC will the Maturity Amount be Taxable Though interest earned on these will be taxed under income from other source Will the Principal amount received

Tax computation under mat 115jb

Under Section 115JB MAT is calculated for Assesse whose Net Tatxable Income is less than 18 of Book Profit WHile Computation we provide Certain deductions one of the deduction is BROUGHT FORWARD LOSSES AND UNABSORBED DEPRECIATION which ever is higer my question is if there is brought forward loss or

Rental income

Dear Sir I have a property which is on Rent and I am doing a business as a proprietorship concern My question is Is it necessary to show Rental Income in my Balance sheet as Rental income is not connected to my businees

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Articles

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


Income Disclosure Scheme 2016 (IDS 2016) - An Opportunity


Income Declaration Scheme 2016 which is famously known as IDS 2016 IDS 2016 is an Opportunity to the Tax Evaders This small attempt has been made to analyze the various aspect of this Scheme This article is not based on the technicality of the scheme section by section but in simple way to make one


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


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Updated on : 9/25/2016 6:48:10 PM


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