rates of central sales tax

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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

Old 500 Note cannot be used at Petrol Pump and for Air Ticket Purchase wef 03.12.2016


MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS NOTIFICATION New Delhi the 30th November 2016 S O 3598 E In exercise of the powers conferred by sub section 2 of section 26 of the Reserve Bank of India Act 1934 2 of 1934 the Central Government hereby further amends the notification of the Governme

Interest rate cut in PPF and KVP by 0.10 percent in this quarter


Interest rate cut for long term saving schemes The interest rates of Public Provident Fund PPF Kisan Vikas Patra KVP Senior Citizens Savings Scheme 2004 and Sukanya Samriddhi Account the Girl Child Scheme were reduced by 0 10 percentage point for the quarter 01 10 2016 to 31 12 2016 and not 0 10 per

POS Devices exempted from Central Excise Duty till 31st March


Point of Sale POS Devices and Goods required for their manufacture exempted from Central Excise Duty till March 31 2017 The Government has demonetised the currency notes of Rs 500 and Rs 1 000 with effect from mid night of 8th 9th November 2016 Along with this the Government has also laid increased

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Experts Opinions

Tax audit limit for event management service


Dear All One of my client Firm is providing Event Management Service my question is whether the same is covered under business or profession for considering tax audit limit Thanks

Applicability of service tax


Sir one of our client is registered in taxable territory and has rendered erection and comissioning service at bhutan The amount is received in convertable foreign exchange and in due time Whether service tax will be applicable Whether we have to reverse the cenvat credit on inputs or input service

Entry tax on dummy goods


One of our client want to purchase a machinery outside state which is costly so before purchase company is providing him a dummy machine which will be returnable at the time of purchase of original machine so i want to know that what will be entry tax treatment for dummy good How can client will esc

5% tax ledger vat tax class not create


Respected Sir In tally erp 9 Vat Tax class purchase 5 Input Vat 5 Output Vat 5 not tracking even not showing I had been try to every side but not solve that problem How to create this ledger in Vat Tax class purchase 5 Input Vat 5 Output Vat 5

Taxability of receipts from lic


I have investment of Rs 100000 in aviva life insurance in 2007 one time premium now in 2016 i got Rs 127840 for maturity of this policy my question is that what is the taxabilty in above case

Discussion

Taxability of accummulation in employees' cooperative fund

A employee of an school subscribed to employees cooperative for 20 years Received Home loan was eligible tax deduction got the tax benefit Now with retirement the employee as per rules ceased to be a subscriber received a part amount of total accumulation rest to receive next by part It is to know w

Oidar -service tax on leasing dedicated server outside india

Hello I am Indian and leasing a dedicated server from United States I read about OIDAR Service tax Now I need to pay service tax on purchasing server from outside of India USA Thanks

Changeability of Service tax and VAT

owners of building going in for addition and alteration of area of their flats addl fsi thru works contract to a civil Contractor Do the owner need to pay service tax and vat if yes then at what rates the contracts present quotation states VAT 8 on gross value and ST 10 5 He says he had charged on c

chargeability of Service tax and vat on works contract

owners of a building are undergoing addition and alteration of area in existing flat thru civil Contractor are owners liable to pay service tax on such construction and if yes then at what rate and how also applicable rate of VAT

Service tax on material and labour contract

charitable trust given labour and material contract to individual how much service tax to be levied by individual on jabour payments by charitable trust

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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


Goods and Services Tax (GST) Council - An Overview


After much awaited now its a matter of time that GST is going to be a reality in our Country the seriousness of the Government to implement GST clearly appears from the passage of 122nd Constitutional Amendment Bill in both the Houses of Parliament i e Lok Sabha and Rajya Sabha On the other hand the


Tax Deducted at Source from Salaries


Section 192 of Income Tax deals with deduction of tax from salaries paid to the employees by certain tax payers like company cooperative trust firm govt authorities etc Tax is not deductible if salary is not paid actually even if it is provided as payable in the accounts of tax payer Tax is deductib


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Updated on : 12/6/2016 10:52:10 AM


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