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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

Protocol for prevention of tax evasion between India and Mauritius


Notification of Protocol for amendment of the Convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital gains and for the encouragement of mutual trade and investment between India and Mauritius The Protocol for amendment of the

Income Declaration Scheme (Second Amendment) Rules, 2016


MINISTRY OF FINANCE Department of Revenue CENTRAL BOARD OF DIRECT TAXES NOTIFICATION New Delhi the 12th August 2016 S O 2705 E In exercise of the powers conferred by sub section 1 and sub section 2 of section 199 of the Finance Act 2016 28 of 2016 the Central Board of Direct Taxes makes the followin

Tax exemption to industry and commerce sectors


Direct Tax Various tax concessions in the form of exemptions deductions etc have been provided under the Income tax Act 1961 which have been availed by different sectors of Commerce and Industry also Cumulative figures of revenue impact of direct tax incentives for the last five years are as follows

Amendment in Rule 114H of Income-tax Rules, 1962


The Rule 114H of the Income tax Rules 1962 the Rules has been amended vide Notification No 48 2016 S O 2151 E dated 20th June 2016 In order to provide sufficient time to the reporting Financial Institutions for completing the due diligence procedure in respect of other reportable account referred to

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Experts Opinions

Notification 12a (25/2012)


Is under entry 12A a i e work contract for civil structure payment of contract work is exempt during 1 4 15 to 1 3 16 if contract enter prior to 1 3 15 or taxable and exempt only if payment received between 1 3 16 to 31 3 16

Exemption on tds (tds on interest)


If I have loan on asset from some financial company i e Srei Finance Magma Finance HDB Finance or DHFL can this compnay s CA provide me CA Certificate form 26A to exempt TDS on interest And if they provided it after filing of my ITR then is it valid for exemption on TDS Please reply Yogesh Gaikwad 9

Exemption


whether Renting of a hall used for marriage birth ceremonies is exempt from service tax

Luxury tax exemption


can anyone please tell me that for how long is a newly formed luxury hotel is exempted from luxury tax And also where are details of such exemption given like notice Act circular etc please reply ASAP It is urgent

Resolution for notification dated 14/12/2015


Kindly provide draft resolution required as per notification dated 18 12 2015 for omnibus approval for related party transactions related

Discussion

Section 54 exemption

I have taken a loan for the construction of new house Also I sold a flat and earned capital gain on it I invested the amount of capital gain in its construction Will the interest on loan be available as exemption under section 54

Exemption under sec 10(10d)

Whether exemption under section 10 10D is only available in case of receipts from LIC

Exemption of service tax from retrospective

what will be treatment if service tax is exempt by government from retrospective effect and we deposited service tax to government while service tax is applicable

Exemption in icai

Dear All I want to know that is there any exemption available in ICAI for Law graduate or any exemption for master in commerce

Exemption in CA IPCC

Ive got exemption in may 16 in costing have got 60 and attempted all other papers scoring 40 in the FAQs on the website it is written that will be mentioned next to the subject and F ex will be mentioned in the bottom in my marksheet F ex is mentioned bt not the is this a technical error or some dis

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  • Reverse charge mechanism in service tax ( RCM)

    Initially Reverse charge mechanism was introduced w e f 01 01 2005 vide Notification No 36 2004 with effect from 01 07 2012 a new mechanism of reverse charge RCM and partial reverse charge or we can call it joint charge PRCM JCM was introduced vide Notification No 30 2012 which was further amended by Notification No 45 2012 10 2014 and recently by 7 2015
  • Import of worked monumental or building stone

    The import of marble slabs under the ITC HS codes 6802 1000 680 22110 6802 2120 6802 2190 68029100 6802 9200 and 2515 1220 is permitted freely provided CIF value is US 40 or above per square meter for maximum thickness of slabs of 20 mm 01 10 2016
  • Import policy of rough marble and travertine blocks

    The import of marble items under ITC HS codes 25151100 25151210 and 25151290 is permitted freely w e f 01 10 2016 provided CIF value is US 200 or above per MT
  • Import policy of Granite

    The import of specified granite slabs is permitted freely provided CIF value is US 50 or above per square meter for maximum thickness of slabs of 20 mm w e f 01 10 2016
  • Compulsory switch over to new syllabus from old syllabus

    Compulsory switchover to new syllabus of cs professional programme from old syllabus of professional programme and revised corresponding exemption on switchover to new syllabus of cs professional programme

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Articles

Exemption on capital gains


Capital Gain Deposit Account Scheme To claim exemption under section 54 the taxpayer should purchase another house within a period of one year before or two years after the date of transfer of old house or should construct another house within a period of three years from the date of transfer If til


Exemption from KKC where invoice raised and services completed prior to 01.06.2016


Central Government vide Notification No 35 2016 ST dt June 23 2016 has exempted taxable services with respect to which the invoice for the service has been issued on or before May 31 2016 from the whole of KKC leviable thereon subject to condition that the provision of service has been completed on


Understanding turnover exemption u/s 10A of the IT act, 1961


In respect of claim of exemption u s 10A 10AA 10B still there is lot of confusion is there between taxpayer and the tax officer Given below chart based on the latest judicial pronouncement will help to reduce such confusion SN Items Included in Turnover Excluded in Turnover 1 Foreign currency transa


Service Tax - Taxability, Negative list & Exemptions


Taxability Negative list Exemptions in Service Tax Charge of Service Tax On All service unless specified in Negative list or Exempt Not a service So Not taxable i Sale Gift ii Deemed Sale Article 366 of the Constitution iii Transaction in money or actionable claim iv Service by an employee to the em


Exemption to Ready Mix Concrete - A Great Relief to Construction Industry


Taxability of Ready Mix Concrete now a days has gathered a great impetus due to various investigations and show cause notices being raised by the excise department to collect excise duty applicable to RMC from various construction industries However a lot of confusion persists regarding difference b


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Updated on : 9/25/2016 12:59:10 AM


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