wealth tax computation format


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

RBI advises banks not to trust guidelines being circulated in social media

Information from Unauthenticated Sources Advisory to banks RBI 2016 17 166 DCM Plg No 1500 10 27 00 2016 17 The Chairman Managing Director Chief Executive Officer Public Sector Banks Private Sector Banks Foreign Banks Regional Rural Banks Urban Cooperative Banks State Cooperative Banks Dear Sir Info

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

Revised Model Draft GST Law, IGST Law and GST Compensation Law Released by CBEC

Draft Model GST Law Draft IGST Law and Draft Compensation Law placed in the public domain for information of trade industry and other stake holders The Draft Model GST Law Draft IGST Law and Draft Compensation Law which would be considered by the GST Council for approval are placed in the public dom

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Experts Opinions

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

income tax e file

I knew to file income tax before 2years but now I didn t able to understand how to file individual it return can any body tell me or share me the process of filling and provide any file format please


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

Withholding tax on online software

If a Indian company wants purchase software online from Germany how shall the withholding tax rate be determined What if the German company does not have PAN

Service tax or sales tax

I need to know if an operating lease furniture rental will attract Service Tax or Sales Tax

Income tax liability

Dear Friends My question is related to Farming of Fish My one client is doing farming of ZINGA Fish I want to know that is this Zinga Farming Income is Taxable under income tax act If yes than Is Tax calculation is simmilar to regular method or is there any special method is provided by goverment If

Taxability of transporter

One of my friend is providing transport services and having income under two categories 1 Income from plying of goods on owned trucks 2 Income from Plying of goods on outsourced Contracted Trucks I saw his previous ITR s and wondered why income was shown under Section 44AD We can apply Section 44AE

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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

Income Computation And Disclosure Standards - In Brief

Income Computation and Disclosure Standards ICDS Section 145 2 of the Income Tax Act 1961 confers powers to the Central Government to notify accounting standards to be followed by any class of assessee Exercising that power the Central Government introduced Income Computation and Disclosure Standard

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

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Updated on : 12/5/2016 9:03:57 PM


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