luxury tax karnataka


5.27 lakh taxpayers submit their online response to cash deposit notice

Operation Clean Money by IT Dept gets overwhelming response More than 5 27 lakh taxpayers submitted their response till 12th February 2017 Last date for the submission of online response extended up to 15th February 2017 The IncomeTaxDepartment ITD had initiated Operation Clean Money on 31st January

Expeditious issue of refunds is high priority says CBDT

Expeditious issue of Refunds is a High Priority for the Central Board of Direct Taxes CBDT Over 4 19 crore Income Tax Returns ITRs processed and over 1 62 crore refunds issued during the Current Financial Year up to 10th February 2017 The Centralised Processing Centre CPC of the Income Tax Departmen

No proposal to levy 5% service tax on healthcare services says Govt

Central Government clarifies that there is no proposal in the Union Budget 2017 18 to levy 5 service tax on healthcare services The Central Government has clarified that there is NO proposal in the Union Budget 2017 18 to levy 5 Service Tax on Healthcare Services as reported in certain Social Media

Tax collection shows healthy growth upto Jan 2017

Tax Collection Figures up to January 2017 show consistent trend of healthy growth During January 2017 the Net Indirect Tax grew at the rate of 16 9 compared to corresponding month last year with growth rate in net collections for Customs Central Excise and Service Tax at the rate of 10 1 26 3 and 9

Four Advance Pricing Agreements signed by CBDT

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi 7thFebruary 2017 Another Four Advance Pricing Agreements signed by CBDT The Central Board of Direct Taxes CBDT has entered into four more unilateral Advance Pricing Agreements APAs on 6th February 2

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Audit of taxi bill

How to verify a taxi bill bill amounted 4000rupees and no service taxation is indicated in invoice what are mandatory compliance on taxi bill

Travel agency Accounting, income tax & service tax

good morning to all of you one of my friend starts a HAJJ UMRA TRAVELING AGENCY WHETHER HE is required to get register under service tax and how his books of accounts are kept and how the income tax is calculated

Tax implications mat

Hi Sir Please explain what is MAT for private limited companies Also will a PVT LTD Company get tax benefit under sec37 i if he pays insurance premium in employer employee scheme Regards

Should i go for M.K Gupta's sir tax recorded classes.

I am IPCC student and want to know that how effective is M K Gupta s sir tax recoded classes at laxminagar

Income Tax

I am a gvot employee My annual income is Rs 3 62 000 approximately in FY 2016 2017 After calculation of income tax computation the annual income come at Rs 1 60 000 I want to ask you can I get form no 16 from my employer or not If not than in which income tax rule i am not entitle to get the form no


Tax demand

My TDs is credited in old PAN and return is filled in new PAN so a huge demand is raised What is the solution

Accounting and tax for share trading

Hello Everyone I want some help on Accounting for a Person who do Share Trading the whole year and also Filing his Income Tax Return and Calculating Taxes STCG and LTCG While doing Accounting I Use FIFO Method in Calculating Stock But I dont know how to Calculate the Value of Closing Stock Im Confus


cenvat credit is deleted from tax is it trur for ipcc may 2017

Service tax liability on gov job under work order


Foreign salary taxation

During FY 2015 16 Mr A Employee received Salary for all 12 months in India His Company send him to Abroad during November 2015 There he received 5 months Salary paid taxed to that Foreign Govt Upto 31 03 2016 So totally he earned 17 Salaries but Form 16 issued by employer contains only Indian Income

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Rationalisation of Income Tax Search and Seizure

I Brief Background The government had introduced Income Declaration Scheme 2016 which came into force from 1st June 2016 and ended on 30th September 2016 The scheme provided for an opportunity to persons who have not paid taxes in the past in respect of undisclosed income to come forward and declare

Small House Big Tax Benefit

Arjuna Fictional character Krishna Government of India has taken a major step towards ensuring that people get their own house by introducing Pradhan Mantri Awaas Yojna and changes have been made in Tax laws also Please tell me elaborately regarding this Krishna Fictional character Arjuna in our cou

Reverse charge mechanism and remission of tax under the GST regime

Introduction Under normal circumstances Service tax is payable only by the Service Providers but for certain services instead of Service Provider Service Receiver is liable to pay the Service Tax either fully or jointly or partly with Service Provider It is called Reverse Charge mechanism At present

Input Tax Credit under GST

Introduction As we all know that GST is going to be the biggest tax reform in the country since independence A much highlighted characteristic of GST is the seamless credit flow across the nation due to which a dealer will not have to worry about the source from where he will purchase the inward sup

Now is the time to attack! Start firing bullets at your taxes

Act before March end so that you dont have to regret in July So many clients put their palms on their head when it is the time to pay taxes and file return in July Taxes have already fired at them they have done nothing to save themselves against the tax shots They could have saved a pretty good amo

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Updated on : 2/24/2017 11:16:23 AM

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