luxury tax tamilnadu

News

BRICS countries expresses commitment to ensure fairness of the International Tax System


Joint Communiqu issued at the end of the two day Meeting of the BRICS Heads of Revenue and Experts on Tax Matters at Mumbai today Heads of Revenue express their continued support to all international initiatives towards reaching a globally fair and universally transparent tax system Reiterate their

Tax Investigations unearth misuse of Jan Dhan Accounts


Tax Investigations unearth mis use of Jan Dhan Accounts Account holders once again urged by CBDT not to consent to any kind of mis use of their accounts which would expose them to the dangers of being held responsible for the tax evasion by unscrupulous elements Investigation being conducted by the

No seizure of gold jewellery upto 500 grams per married lady and 250 gm for unmarried


Government clarifies that the apprehension sought to be created that the jewellery with the household which is acquired out of disclosed sources or exempted income shall become taxable under the proposed Taxation Laws Second Amendment Bill 2016 is totally unfounded and baseless In the wake of Taxati

Bill introduced by govt in Parliament to tax black money


Taxation Laws Second Amendment Bill 2016 introduced in Lok Sabha A scheme namely Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana 2016 PMGKY proposed in the Bill Evasion of taxes deprives the nation of critical resources which could enable the Government to undertake anti povert

ICAI denies any leakage of question paper of Direct tax law exam


No leakage of question paper relating to Paper 7 Direct Tax Laws of CA Final examination held on 13th November 2016 Our attention has been drawn to some unfounded reports in social media on alleged leakage of question paper relating to Direct Tax Laws Paper 7 of CA Final Examination held on 13th Nov

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Experts Opinions

Please help regarding service tax and income tax .


I have a single truck on loan i operate it through a broker and my driver drives it as for the freight i recieve cash or cheque from the transport agency And out of it i make expenses like purchasing diesel toll taxes labour charges driver meal expenses I recieve near about 2 5 lakhs in a month and

taxation of income from sale of milk


income from sale of milk whether taxable as businesses income or other income and if taxable as businesses income how accounting entry would be passed in books as the assesse have cows which is a source of milk for the assesse and how to show cows as assets in books

Ipcc Taxation


Dear Sir Madam I need Neeraj Arora Taxation Classes Video Lecture Kindly let me know Thanks

Income tax on rent recived by tenant by subletting


This is a question regarding the Income on house property Person A lease his house H to his mother B A doesnt lives in house H but B lives in that house There is nominal lease amount X Now B gives part of the house H to grandson C on rent C pays a hefty amount Y of rent to B Now if B shows the incom

Tax


how will the son prove to the Department that the cash has been gifted by his father

Discussion

Tax applicability on mineral water can

One of my friend started a business He buys mineral water cans from other company places his own brand sticker on it and sells it to people His query is is there any tax liability on afore said case if so what kind of registrations are to be taken We are from andhra pradesh

Tax exemption (section.?)on salary paid to "unicef" employee

Hi My friend is drawing salary from UNICEF and they simply issed one lettermentioning that total salary drawn during the year and that salary is exempt feom tax My friend wants to file Return please suggest me that under which section salary from unicef is exempt from tax and which itr form has to f

Taxation Ipcc

Dear Sir Madam I need Neeraj Arora Taxation Classes Video Lecture Kindly let me know Thanks

Meaning of serve u/s 153 of income tax act 1961

what is the meaning of serve u s 153 for the purpose of completion of assessment as per 147

Income tax on rent recived by tenant by subletting

This is a question regarding the Income on house property Person A lease his house H to his mother B A doesnt lives in house H but B lives in that house There is nominal lease amount X Now B gives part of the house H to grandson C on rent C pays a hefty amount Y of rent to B Now if B shows the incom

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Articles

How to Promote Cashless Economy & Tax Compliance


Our government is taking various steps to move the society to cashless economy as well as compliance of tax laws by them Although it needs various reforms in various economic laws and the results cannot be achieved overnight yet some change in Income Tax law for individuals and HUFs can turn the sit


Input tax credit under GST


style2 text align justify style3 text align justify margin leftt 40 5pt 1 GENERAL OVERVIEW Input Tax Credit is the backbone of the GST regime GST is nothing but a value added tax on goods services combined It is these provisions of Input Tax Credit that make GST a value added tax i e collection of t


Regulation of tax professionals by different countries


It would be difficult to have a well functioning tax system without tax advisors Because most taxpayers are not familiar with the intricacies of tax laws tax advisors are needed so that taxpayers can fulfill their complicated tax obligations As informed members of the public tax advisors also provid


A complete list of Penalties under Income Tax Act, 1961


1 Penalty under Section 270A Penalty for under reporting and misreporting of income If during the assessment proceedings it is found that an assessee have under reported or misreported his income then penalty u s 270A will be imposed on the Assessee This is the harshest penalty that can be imposed b


Currency Ban: How penalty cannot be imposed on cash deposits in bank account under Income Tax Act, 1961


Introduction We are going through a very unusual phase of Indian economy where people are rushing nowhere carrying cash in hand I have experience it first time when people are ready to pay the full amount of tax or they are ready to even forego 50 of the amount still they are not able to buy peace o


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Updated on : 12/7/2016 3:17:09 AM


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