ppf interest taxable

News

Proposal to provide for grant of interest in case of refund of excess payment of TDS


Finance Minister announces several anti graft and rationalisation measures in the field of Income tax Accountants or merchant bankers furnishing incorrect information to face penalty Income of the Chief Ministers Relief Fund and the Lieutenant Governors Relief Fund to be exempt from tax Concessional

Economic Survey advocates reforms to unleash economic dynamism and social justice


India needs an evolution in the underlying economic vision across the political spectrum and further reforms are not just a matter of overcoming vested interests that obstruct them This was stated in the Economic Survey 2016 17 presented in the Parliament today by the Union Finance Minister Shri Aru

Ministry of Finance denies any collaboration with the tainted UK based Note Printing Company


There have been reports in sections of media stating that the Union Government has compromised the national interest by collaborating with a tainted UK based Note Printing Company The said company had been supplying bank note paper till 2010 Further as per the decision taken in 2013 the company was

Revision of interest rates for Small Savings Schemes


F No 1 0412016 NS II Government of India Ministry of Finance Department of Economic Affairs Budget Division North Block New Delhi Dated December 30 2016 OFFICE MEMORANDUM Subject Revision of interest rates for Small Savings Schemes The undersigned is directed to refer to this Departments OM of even

Reduction in charges for IMPS and UPI transaction by banks


In order to further promote digital and card payments Department of Financial Services Ministry of Finance issues direction in public interest all Public Sector Banks PSBs not to charge fees for transactions settled on Immediate Payment Service IMPS and Unified Payments Interface UPI in excess of ra

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Experts Opinions

Closing ppf & investing in equity mf


Hi I have got around 15 years old PPF account with funds accumulated in it For last 2 3 years I am investing in ELSS fund for getting getting 80C benefits my annual income is more than 10 Lakhs 30 Slab Now due to low returns in PPF 8 1 is it advisable to close PPF account invest in Equity Mutual Fun

Taxable turnover under ap vat act


Whether interest received for belated payment forms part of turnover or sale price Are there any relevant Case laws regarding this

Interest on car loan


hello how to entry car loan and interest on car loan how to repayment entry

Is pension received from a government employer is taxable?


Dear Experts My dad was a Government employee retired last year He receives Rs 13 000 month as Pension Is this amount taxable Thank you so much

Cenvat credit on reassessed taxable input service


An entity has received taxable service under reverse charge mechanism for which it had self assessed the value of the taxable service to Rupees 5 00 000 Thereafter it paid service tax 15 amounting to Rupees 75 000 and had also availed cenvat credit for the same as input service The Assessing Authori

Discussion

Pension from epfo (taxable or not)

i receive monthly pension from EPFO Employees Provident Fund Organisation whether this income is exempt form tax or is it a taxable income please guide me on this matter by referring income tax provisions

Tds on interest on loan

We are Pvt ltd company based in Mumbai We have 4 directors in company Company has taken loan from 2 directors on 23rd February 2016 of Rs 2 lacs each Since then company neither repaid any amount to director out of it nor company have charged interest on it Should we charged interest on it in March 2

Fund transfer outside india - is taxable?

One of my client need to transfer money from india to outside the country for service business purpose So the money worth would be around Rs 18 00 lacs in a quarter So what are the formalities and legal steps him should follow please guide us where there he should file 15CA or 15 CB or any income ta

Fund transfer outside india - is taxable?

Dear Expertise One of my client need to transfer money from india to outside the country for service business purpose So the money worth would be around Rs 18 00 lacs in a quarter So what are the formalities and legal steps him should follow please guide us where there he should file 15CA or 15 CB o

Interest on capital

DEAR SIR IN OF MY FIRM CAPITAL THE ONE OF THE PARTNER S CAPITAL IS NEGATIVE THE FIRM RECOVERS INTEREST FROM THAT PARTNER 12 ON THE NEGATIVE FIRM NOW WHEN WE PREPARE ITR OF THIS PARTNER OUR C A ONLY SHOWS 3 INTEREST PAID TO THE FIRM iMEAN TO ASK IF FIRM RECIVES INTEREST 12 AND C A IN THE ITR DISALLOW

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File Download

  • Advance Income Tax Calculator for F.Y.2017-18 & Ass Year 2018-19

    Calculate your taxable liability for the Assessment Year 2018 19 as per Budget 2017 18
  • Service tax interest calculation for F.Y 2016-17

    Service tax interest calculator
  • Budget 17-Income Tax Proposals-Effects on Interest & Penalty

    A Presentation on Budget 2017 Income Tax Proposals Effects on Tax Interest and Penalties on http budget meraconsultant com and on YouTube https youtu be wg 1SXr14f8
  • How to Memorize All Accounting Standards in a Fun Way

    Memory Technique which helps you to recall all the names of Accounting Standards in a very interesting and easy way
  • Online Information & Database Access or Retrieval Services

    Government has issued series of service tax notifications which have radically changed service tax implications on online information and database access or retrieval services OIDAR service Notification No 46 2016 ST Notification No 47 2016 ST Notification No 48 2016 ST Notification No 49 2016 ST and Circular No 202 12 2016 ST dated 9th Nov 2016 Applicable from 1st Dec 2016 I have attempted to provide an In depth analysis of these notifications Circulars to assist you in Impact analysis of the same At the outset I have following observations after going through the updated legal provisions Earlier Place of Provision was Location of Service Provider means if X Hong Kong provides its these services to Indian customer these services was not taxable in India as Location of Service Provider was Non Taxable Territory i e Hongkong Service Tax law applies on taxable territory But now w e f 1st December 2016 Place of provision of such service has been amended and provided as Location of Service Receiver means now it would be taxable in India Since it would be taxable in India This service has been provided under reverse charge i e service receiver has to pay full service tax on the same so where is the role of Y Indian representative of X if X Hongkong provides these services to an Indian customer If the Indian customer is a company or any other person other than Non Assessee Online Recipient e Government Local Authority Government authority or an Individual not registered with service tax department then that company or other person has to pay service tax on the same But if that Indian customer is Non Assessee Online Recipient i e Government Local Authority Government authority or an Individual not registered with service tax department then X HK is liable to pay service tax in India through its representative in India i e Y India This was one illustration further if X India provide any Online information and database access or retrieval services OIDAR service w e f 1st December 2016 outside India it would be tax free as now POPOS is Location of Service Receiver

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Articles

Some interesting facts about GST


Whether GST is new to India In the year 2000 the Vajpayee government started a discussion on GST by setting up an empowered committee headed by Asim Dasgupta the then Finance Minister of West Bengal In 2003 the Kelkar Task Force on Indirect tax had suggested a comprehensive Goods and Service Tax bas


Falling interest rates and the plight of senior citizens


Before the previous last RBI meet there was an increased expectation of rate cuts by RBI as a measure of providing impetus to the economy after demonstration That RBI maintaining status quo on repo rates at 6 25 is a negative thing for most people but senior citizens in India Citing increased liquid


Disclosure of Interest by the directors section 184 of the Companies Act 2013


Section 184 Disclosure of Interest by Director 1 Every director shall at the first meeting of the Board in which he participates as a director and thereafter at the first meeting of the Board in every financial year or whenever there is any change in the disclosures already made then at the first Bo


Transfer Pricing Adjustment - Interest free Credit Period and Notional Interest


Transfer Pricing Adjustment Interest free Credit Period as an International Transaction The treatment of extended credit period to Associated Enterprises AEs as an international transaction and making adjustment of notional interest on the same has always been bone of contention between the assessee


Supply - Taxable Event under Model GST Law - Inclusive and Subjective


With step by step progress towards Goods and Services Tax GST the Country is all set to witness the biggest indirect tax reform of unmatched importance in independent India GST would mark a paradigm shift in the indirect taxation of our Country and the concept of origin based taxation as practiced c


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Updated on : 2/19/2017 3:37:10 AM


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