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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 on gross amount.


If a service provider has not charged service tax separately in invoice and is providing taxable services which are subject to abatement say 70 how is tax determined in that case Should we divide the invoice amount by 14 5 or 14 5 30

Tax liability for residential flat in vadodara (gujarat)


Dear Sir I have book one residential flax in Vadodara city At the time of Dastawage Builder asking to pay me service tax VAT Swach Bharat Cess Krishi Cess and this amount comes to Rs 150000 00 The Banakhat amounts Rs 840000 00 Over and above Builder also asking me to pay Rs 50000 00 for developments

Professional tax


dear sir I have query regarding pt if we give salary to a employee rs 12000 include overtime but his gross salary rs 8000 then should we deduct rs 200 or rs 175

Capital gains tax


In the present scenario What is the position regarding CAPITAL GAINS TAX with respect to Debt Income Fund of Mutual Funds

Income Tax Refund


Dear Experts Could you please tell me that if company received Income Tax Refunr 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

Discussion

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 lower my question is if there is brought forward loss or

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

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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


No change in MVAT rates of commodities


THERE IS NO CHANGE IN THE BELOW MENTIONED COMMODITIES EXCEPT the below commodities the MVAT Rate has changed from 5 5 to 6 and from 12 5 to 13 5 w e f 17th September 2016 4 A Cotton yarn but not including cotton yarn waste 8 Aviation Turbine Fuel sold to a Turbo prop aircraft 20 Cereals pulses with


Ten principles on writing a good corporate legal opinion


The Legal department of a Company known by multifarious nomenclatures is one of the most critical and central administrative divisions of a Company As a company grows in size and magnitude the complexities and intricacies between various facets of business intertwine even further A vigilant Legal De


Payment Bank - A New Feather in Indian Banking System


As per Section 5 b of the Banking Regulation Act 1949 Banking means the accepting for the purpose of lending or investment of deposits of money from the public repayable on demand or otherwise and withdrawal by cheque draft order or otherwise Scheduled Commercial Banks in India are categorised into


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Updated on : 9/26/2016 12:01:53 AM


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