rule 6 of service tax rules


MCA considering Aadhar integration for MCA21 services

MCA is actively considering Aadhaar Integration for availing various MCA21 related services As a preparatory step all individual stakeholders viz DIN holders Directors Key Managerial Personnel Professionals of the Institute of Company Secretaries of India Institute of Chartered Accountants of India

Tax Exemption to Startups

Various tax exemptions have been given to Startups in the recent past Followingdirect tax incentives were provided in Income tax Act 1961 the Act to promote Start ups through Finance Act 2016 Introduction of new section 54EE in Income tax Act 1961 to exempt investmentof long term capital gains by an

Steps taken to ensure robust cyber security of GST Network

GST network free from cyber attack and data theft Till 7 00 Pm on 1stMarch 2017 48 48 641 taxpayershad enrolled on GST portal www gst gov in Necessary steps are being taken by GSTN to ensure robust cyber security of GST Network To ensure the same inputs from National Cyber Security Coordinator NCSC

GST a clear departure from the scheme of distribution of fiscal powers

Introduction of GST Tax on sale or purchase of goods within a State as per Entry List II of Seventh Schedule of the Constitution is a State subject and accordingly VAT was been introduced by the concerned States in place of turnover taxes The introduction of VAT ensured that credit of taxes paid on

CBDT issues PAN and TAN within 1 day to improve Ease of Doing Business

In order to improve the Ease of Doing Business for newly incorporated corporates CBDT has tied up with Ministry of Corporate Affairs MCA to issue Permanent Account Number PAN and Tax Deduction Account Number TAN in 1 day Applicant companies submit a common application form SPICe INC 32 on MCA portal

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Experts Opinions

Service tax adjustment on commission bill

sir i am a realestate agent i have a pvt ltd company i have received a part of commission with service tax in 15 16 and i have paid s tax to authority but now the unit on which i have received commission have been cancelled and builder is reversing commission with s tax so am i eligible to adjust th

Income tax regarding preparation of balance sheet

Hi Dear All One of my client having balance in his saving bank account for approx 350000 and his average balance in his account for last 5 yr is approx 300000 moreover he has FD and LIC investment he has not file any return till date please suggest i m filing his return for first time how I manage h



Service tax liability

we are providing digital marketing service to hospital on patient conversation basis is we are liable for ST if yes will hospital get Cenvat Credit under which service it is liable for service tax

service tax rate chart for 17-18

service tax rate chart for 17 18


Is clubbing rule applicable?

My wife has earned 24000 by tution at home to kids for FY 16 17 She also has earned intetest on FD by the money which i used to tfr to her account Can she ask for refund of TDS deducted on the FD Should interest income to be added to my gross income pl guide

Service tax paid bill cancelled

sir i am a realestate agent i have a pvt ltd company i have received a part of commission with service tax in 15 16 and i have paid s tax to authority but now the unit on which i have received commission have been cancelled and builder is reversing commission with s tax so am i eligible to adjust th

Deemed Gift Section 56(2)(Vii)

Can a company t r its shares having FMV Rs 2500 per share Face value rs 10 to a N R at a price less than its FMV If yes then will section 56 2 Vii attracts in the hands of such N R investor

Notice u/s 74(4) of the karnataka value added tax act 2003

We have received notice dt 12 04 2017 u s 74 4 of the Karnataka Value added tax Act 2003 for non filing of annual return VAT 240 imposing penalty Rs 5K and Rs 50 every day till date of filing for the financial year 2010 11 We understand that the non filing has been obseved by AG Audit The assessment

Tax on rent

Hi I am working as an accountant of a Private limited company which own a complex with more than 50 rooms are being given for rent to various people Could you please advice me about the tax part of the rental income including percentage of tax date about return filing etc

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Casual Taxable Person And Non-Resident Taxable Person

A A casual taxable person is defined u s 2 20 of the GST Act as follows 20 casual taxable person means a person who occasionally undertakes transactions involving supply of goods or services or both in the course or furtherance of business whether as principal agent or in any other capacity in a Sta

New Income Tax Rules - What you must know?

Hail the new financial year 2017 18 and ITR never looked sleeker and simpler While GST remains the star of this year the ITR 2 2A and 3 mergers is no less important The Finance Minister did what he promised and halved the income tax rates for the income group Rs 2 5 5 lakhs As an assessee these are

GST - Understanding Valuation Rules

Understanding GST Determination of Value of Supply Rules The Goods and Services Tax GST regime came a step closer to meet its 1st July target of rollout on 29th March 2017 with the Lok Sabha approving four supplementary legislations CGST Bill 2017 IGST Bill 2017 UTGST Bill 2017 and The Goods Service

Input Tax Credit under GST

This article is based on the GST Bill 2017 which was released in public domain in last week of March 2017 Background The promise by all the FMs on the various forums and business expectation was that seamless credit would be permitted under GST The reality is that restrictions on credit availment ha

CBDT press release on cash transaction u/s 269ST - A contradictory view

CBDT press release of 5th April 2017 on the applicability of Section 269 ST of the Income Tax Act 1961 states as follows Any contravention to the said provision shall attract penalty of a sum equal to the amount of such receipt However the said restriction is not applicable to any receipt by Governm

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Updated on : 4/16/2017 8:38:33 AM

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