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Union Cabinet chaired by the PM approves the 4 GST related bills today


The Union Cabinet chaired by the Prime Minister Shri Narendra Modi approves the four Goods and Services Tax GST related bills today The GST law will be the biggest reform in the area of Indirect Taxes in the history of independent India The Union Cabinet chaired by the Prime Minister Shri Narendra M

4.21 crore income tax returns Efiled this year


Number of e filed Income Tax Returns in Financial Year 2016 17 till 28 02 2017 was 4 21 Cr The total amount of refund issued in the current fiscal including refund arising out of rectification appeal effect etc is Rs 1 48 459 crore till 28 02 2017 The number of e filed Income Tax Returns in Financia

GST is expected to have positive effect on trade and consumers


Goods and Service Tax GST Bill The 122nd Constitution Amendment Bill 2014 has been passed by the Parliament and after ratification by fifty percent of the States the same has been enacted as 101st Constitution Amendment Act 2016 No Goods and Service Tax GST Bill has so far been passed The Central Go

Direct and indirect tax Collections shows a growth of 10.07% and 22.2% respectively upto Feb 2017


Net Indirect Tax collection upto February 2017 stood at Rs 7 72 lakh crore 22 2 more than the corresponding period last year Net Direct Tax collectionsupto February 2017 stood at Rs 6 17 lakh crore 10 7 more than the corresponding period last year Indirect Taxes The figures for indirect tax collecti

17.92 Lakh persons tax profiles does not match with cash deposits


Operation Clean Money Income Tax Department identifies 17 92 Lakh persons whose tax profiles were not in line with the cash deposits made by them during the demonetization period Income Tax Department ITD has initiated Operation Clean Money on 31st January 2017 to leverage technology and data analyt

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Experts Opinions

Luxury tax - gujarat


Hi Everyone I have come to a hotel in ahemedabad for auditing its accounts and have come accross some issues with regard to luxury tax The hotel is charging fixed luxury tax to the guests on the basis of room categories like 300 for superior category room 350 for executive category Thereby it was ab

Tax liability of fabric printer


I just started a business of fabric printing I print the fabric in two way 1 When client provide the fabric 2 When client not provide the fabric we have to just print the fabric and give to them So my question is that is there is requirement of vat and service tax registration Please guide me I wait

Taxation of stcg/ltcg


If a person who does share trading and has income from only buying and selling of shares i e long short term capital gains then considering the fact that he doesn t have any other sources of income and nor does he is doing it as a business activity whether that person would be required to file incom

Capital gain tax(long term)


Government acquired a small piece of our non agricultural land for construction of new railway track and paid compensation in 06 2016 As it is a compulsory acquisition can the capital gains tax be exempted as per the RFCTLARR Act which came into effect from 01 01 2014 Refer to IT Circular dated 25 1

Taxation of political party and elctoral trust


What is the tax rate applicable on incomes of political party and electoral trust other than those exempt u s 13A and 13B respectively eg PGBP for PP and IOS for ET and which type of person are they for assessment purposes under income tax act 1961

Discussion

Luxury tax in gujarat

Hi Everyone I have come to a hotel in ahemedabad for auditing its accounts and have come accross some issues with regard to luxury tax The hotel is charging fixed luxury tax to the guests on the basis of room categories like 300 for superior category room 350 for executive category Thereby it was ab

Service tax to gst

I have registered for service tax in 2009 In 2009 I have not done more than 10 lakh businessand Also After that I havent done any business and Office has been closed since 2009 Do i have to migrate from Service tax to GST Now i am an employee

Income tax

I m a state govt employee i have paid less income tax due to wrong calculation of HRA I have to pay the rest amount how can i pay either through challan or online which challan is prescribed for this 280 or 281

Taxation of political party and elctoral trust

What is the tax rate applicable on incomes of political party and electoral trust other than those exempt u s 13A and 13B respectively eg PGBP IOS and which type of person are they for assessment purposes under income tax act 1961

Income tax related

IF A PERSON RECEIVED LOAN IN CONTAVENTION 269SS WHAT IS THE TAX IMPLECATION PENALTY WILL BE LEVIED OR NOT UNDER SECTION 271D

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File Download

  • Section 264, Income tax Act

    Colorful presentation for quick revision
  • Tax Connect (With GST) - 112th Issue

    Tax Connect With GST 112th Issue
  • SAC - HSN code under GST

    SAC HSN code under GST HSN codes at 8 digits will be mandatory in case of export and imports The GST law has to be compatible with international standards For taxpayers with turnover between Rs 1 5 Crores and Rs 5 Crores in the preceding financial year HSN codes need to be specified only at 2 digit chapter level HSN code of 4 digits will be mandatory for taxpayers having turnover more than 5 crores Turnover will be taken on self declaration basis for IST year and afterwards turnover of the previous year shall be used
  • Income tax few chapters

    this file contain few chapters with latest updates
  • CA Final - Indirect Taxes

    Summary of All Case Laws

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Articles

How to tackle CA IPCC Taxation?


Hello IPCCians Be not afraid of anything you will do marvellous work Have belief in yourself I will be sharing here how to face the subject and how to prepare for your exam First of all I would like to say that tax is a high scoring subject and you can get above 60 with a well prepared strategy I ha


Service tax under Reverse Charge Mechanism on Goods Transport Agency (GTA)


Goods Transport Agency GTA means any person who provides service in relation to transport of goods by road and issues consignment note by whatever name called Generally service tax is payable by the provider of Service However in Reverse Charge Mechanism Service Receiver is made liable to pay servic


Input Tax Credit under GST


In the Current Tax Regime Various conditions are applicable for availing input tax credit A brief overview is given below VAT As a VAT dealer you can avail credit of VAT paid on goods purchase in course of business for re sale or for manufacture of goods subject to some conditions Only purchase made


10 Common Mistakes People make when filing Income Tax Returns


The season of filing of tax return is here This year all those who have taxable income are required to file their return Also those with income above Rs five lakhs have to compulsorily e file their return It s very important to file error free Income Tax Return to avoid future problems Let s see the


Is tax really collected by Taxman?


We should critically read the CAG report for the year 2015 16 In this report we would find many surprises and indepth data regarding many aspects of tax collection machinery and its objectivity In the year 2015 16 total central excise collection was approx 3lakh crores As we all know the excise duty


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Updated on : 3/22/2017 6:46:09 AM


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