wealth tax exemption limit

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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

Govt withdraws Service tax exemption for educational institute


TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART II SECTION 3 SUB SECTION i GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE NOTIFICATION No 10 2017 Service Tax New Delhi the 8th March 2017 GSR E In exercise of the powers conferred by sub section 1 of section 93 of the Finance

GST council approves the CGST and IGST bill


Goods and Services Tax GST Council approves the Central Goods and Services Tax CGST Bill and the Integrated Goods and Services Tax IGST Bill The Goods and Services Tax GST Council in its meeting held today in Vigyan Bhawan in New Delhi under the Chairmanship of the Union Minister for Finance Corpora

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Experts Opinions

Cash for encashment(p l surrender)is exempt from income tax


Dear Madam Please Explain me that encashment of leave income or PL surrender income for salaried person is include or exempted from income tax eligible income if exempted then tell me in which section Lalit Kumar ltc1974 gmail com

Income tax


We have applied for compounding of offence u s 276CC and ready to pay compounding fee as per CBDT Guidlines We are private limited company hence AO says directors are also responsible along with the company as per section 278B What is experts opinion If directors are responsible then what amount of

Is stipend taxable


Hi I wanted to know whether articleship stipend would be taxable

What is the procedure for tax consultant certificate


Dear sir I completed Mcom from open university in the year 2009 without B com but did entrance test for attend the M com exams from the university I have above 9 year experience in accounts statutory filing etc 2 years in auditors firm presently working in export pvt ltd company as accounts officer

Capital gain tax and gift


Dear Experts Need your suggestion Mom wants to sell her house property to daughter but to avoid the capital gain tax on sale they are making an arrangement to prepare two gift deeds Long term capital asset One mom will gift house property to daughter and other one is daughter will gift money conside

Discussion

Query related to accounting & taxation of various bpo type mncs.

hi I have question regarding taxation system of gen pact wipro or TCS who provide consultation services to various foreign client SO I WANT TO know that whether those companies are anyway attracted by our tax system in India for their companies or they are all free from Indian taxation as their head

Income Tax

We have applied for compounding of offence u s 276CC and ready to pay compounding fee as per CBDT Guidlines We are private limited company hence AO says directors are also responsible along with the company as per section 278B What is experts opinion If directors are responsible then what amount of

Profit share in overseas transaction- tds and service tax

J Company is an 100 EOUs and engaged in the import export business therefore having contacts with overseas mines owners suppliers and foreign customers but due to financial difficulties J Company is not able to carried out overseas transactions therefore approached toS Companydesirous to carry out s

Be a smart tax payer

DO YOU KNOW SmartWaysToSAVETAX For Salaried Individuals 1 Investin80CsectiondeductionsschemesgetbenefituptoRs 150 000 2 AvailadditionalbenefituptoRs 50 000 u s80CCDi e DepositinNPS 3 MedicineBillsDoctorFeesinvoiceswillsavetaxupto onRs 15 000 4 SavingBankInterestisexemptuptoRs 10 000 5 Docharityandsa

Plan your tax before its too late


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Articles

Cash credits and its treatment under income tax act, 1961


CASH CREDITS UNDER INCOME TAX ACT 1961 Section 68 of the Income Tax Act 1961 provides that there has to be credit of amounts in the books maintained by the assessee that such credit has to be of a sum during the previous year and that the assessee offers no explanation about the nature and source of


Whether Income Tax Act is discriminatory to the salaried class?


There are various types of individual assessee i e 1 Salaried 2 Professionals specified 3 Professional others 4 Proprietors who owns business of trading or manufacturing 5 Proprietors in some specified businesses 6 Others The tax slabs rate of tax and deductions are almost same for each one class of


The Tax Planning - 4 Great Ways to reduce your Tax burden substantially!


Introduction Tax planning is an art of reducing the tax burden legally People generally understand tax planning as an illicit tax measure to reduce tax burden However this is not the case Reducing tax illegally is known as tax avoidance An ethical tax planning is an art or professional knowledge to


CA IPCE Amendments in Indirect Taxation


Basic Concepts of Indirect Taxes UNIT 2 Central Excise Duty 1 Excise duty of 1 without CENVAT credit or 12 5 with CENVAT credit has been levied on articles of jewellery excluding silver jewellery A jewellery manufacturer will be eligible for exemption from excise duty on first clearances upto Rs 10


Withdrawal of Service Tax Exemption for Educational Institutions


With the Introduction of Negative List Regime in the year 2012 all services becomes taxable except the services which are covered in Negative List or which are exempted by government through issue of any exemption notification Earlier to Finance Act 2016 Following services of Educational Institution


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Updated on : 3/20/2017 12:25:14 AM


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