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TCS on cash sale of goods or services
Finance Act, 2016 imposed TCS on cash sale of goods or services with effect from 1-6-2016. New Sub Section (1D) of Section 206C is as follow: Every person, being a seller, who receives any amount in cash as consideration for sale of bullion or jewell
Setting aside the 'bad insurance policy' is a good investment policy
1.What is a Bad Insurance Policy? Did your last insurance policy assure you only insecurity after you bought it? Do you feel that the insurance policy which you have just taken does not serve your purpose? Or, is it that the policy does not give all
Equalisation Levy: At a Glance
Finance act 2016 has introduced Equalization levy to address challenges of the �digital economy� on the amount of consideration received by non-resident for any specified se
FAQ : TCS on sales of Goods and Services for value more than 2 lacs
Solutions to Frequently Asked Question on TCSFor amendment in Section 206C, sub section 1D of the Income Tax Act, 1961 for Sale of Goods or Provision of Service of value exceeding Rs. 2,00,000: By Rani Jain Act ��Every person, being a sel
No Krishi Kalyan Cess on debtors as on 13th May 2016 - Part 2
The enabling provisions for KRISHI KALYAN CESS (KKC) are contained in Chapter � VI of Finance Act� 2016. As per the provisions, KKC shall be applicable at 0.5% on all taxable services and the proceeds of KKC would be exclusively used for
FAQ on TCS on Motor Vehicle Rs.10 Lakhs more
Solutions to Frequently Asked Question on TCSOn amendment in Section 206C, sub section 1 of the Income Tax Act, 1961 for Sale of Motor Vehicle of Value exceeding Rs. 10,00,000Finance minister, Mr. Jaitley had proposed to impose a provision for collec
Amendment in SEBI LODR Regulations
SEBI, with the intent of investor protection and enabling them to take better and well informed investment decisions, has vide its Circulars dated 25th May 2016 and 27th May 2016 brought in certain amendments to th
Tips received by waiters from customers is not salary income
Background and factsSection 15 of the Indian Tax Laws (ITL) includes the following incomes as chargeable to tax under the head �Income from Salary� (Salary head): Salary that is �due� from an employer or a former employer, whe
Rates of service tax in case of Reverse Charge w.e.f. 01.06.2016
Service Tax under reverse Charge On or After 01.06.2016 CA M ASIF FAROOQUI Sl. No. Service Abatement if any Effective ST Rate (including SWC & KKC) % payable by service provider
7 Investment Instruments for Maximum Returns
Choosing the right investment avenues is not an easy task and the choice depends on a lot of factors. We all prefer investing in instruments that offer high returns, but with better returns, there is always an element of risk involved. Higher the ret
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