CAclubindia Articles
Budget- Is there any relief?
Goofy, a 24 year old techie, in Bangalore was worried to the core. He was constantly scrolling the TV channels to find out if there is any relief for a salaried class like him. But alas, there is nothing. The only thing that matters to him and
Interest: A Comparative Analysis
Law under Service Tax: Services are being taxed under the Negative List approach w.e.f. 01.07.2012. The Negative List, incorporated under Sec-66D of the Finance Act, contains a list of services which are not liable for service tax. Services by wa
Income Tax Practical Procedures in FAQ Style
Introduction: Income Tax has always been a challenge not only for students, professionals or for Department but also for tribunals and courts. The reason may be the vastness and depth of the provisions of law which makes it sometimes complicated.
Union Budget at glance Direct and Indirect
Budget at glance for financial year 2013-2014 DIRECT TAXES Corporate tax rates remain unchanged Surcharge Domestic companies: Surcharge has been increased to 10% from 5% if the total income exce
Budget 2013-14- Nothing to cheer
There is nothing to cheer in Union Budget 2013-13. A routine affair with elections in mind is the effort by our Honourable Finance Minister Mr. P. Chidambaram, who is tough Finance Minister he has tried to show growth of economy-to win electi
Judgments Overruled by Finance Bill 2013
Finance Bill 2013 may overrule Following Court decision. 1. Proposed Amendment in Application of seized assets under section 132B The existing provisions contained in section 132B of the Income-tax Act, inter alia, provide that seized assets may be
Open Letter to FM- Budget 2013
3rd March 2013. Dear FM Shri. P. Chidambaram, First of all thanks for your listening while taking the comments on the budget from all. We all understand that over a period of years there are some ills which have accumulated. However instead of voici
Service Tax on Restaurant
SERVICE TAX ON RESTAURANT: A SMALL AMENDMENT MAKES A BROADER SCOPE OF SERVICE TAX Introduction:- Under negative list regime, the service tax was introduced on restaurants, eating joints and mess which have licence to serve the liquor and fac
Critical reasoning of Notification no.03/2013 ST dated 01.03.2013
Introduction:- In previous budget, service tax law was shifted to negative list regime. Mega exemption notification no. 25/2012-ST dated 20.6.2012 was issued to prescribe the lis
FAQ - Deduction for Interest on education Loan
Q. Who is eligible for deduction us/ 80E? A. Education loan should be taken by Individual (not to HUF or other type of Assessee ) Q. Is loan taken in name of any family member is eligible fo
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