Tax

Central Government notifies certain sections of Union Territory Goods and Services Tax Act, 2017

  Central Government vide notification no. 1/2017–Union Territory Tax, notifies provisions of sections 1, 2, 3, 4, 5, 17, 21 and section 22 of the Union Territory Goods and Services Tax Act, 2017 (14 of 2017) which shall come in force on 22nd June 2017 MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 21st… Read More

Tags: 2017Central GovernmentGSTTaxUnion Territory Goods and Services Tax ActUNION TERRITORY TAXUTGST

RECTIFICATION U/S 154 OF INCOME TAX ACT

RECTIFICATION U/S 154 OF INCOME TAX ACT

RECTIFICATION UNDER SECTION 154 OF INCOME TAX ACT Hello readers, we all understand rectification just as correction in any order passed by Income tax authority concerned so let's review every clause of section 154 in detail with relevant judgement and my significant findings to it. Now you can first read the extract of Act in… Read More

Tags: 154Income taxIncome Tax RefundsITRRECTIFICATIONTax

How to save taxes legally

How to save taxes legally

At the end of each financial year, an assesse finds himself with huge taxes on taxable income and make tax investments in a hurry. However, if an individual from the very beginning goes ahead with proper planning and knowledge he can feel relaxed at the end. The Income Tax Act, 1961 provides provisions for reducing… Read More

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Note on New Procedure in Maharashtra for CST Forms

Sales Tax Department has changed the procedure for application of Declaration Forms w.e.f 01.02.2014 vide Circular No.4T of 2014 From M B Abhyankar  mbabhyankar@gmail.com Existing Procedure for online applications upto 31.01.2014 Upto 31.01.14, the e-application form was simple and the dealer had to provide basic information such as TIN no. and Name of the dealer… Read More

Tags: AccountingBusinessConstitutional rightCSTInvoiceSales taxTaxUnited States

United Nations Handbook on Selected Issues in Administration of Double Tax Treaties for Developing Countries

Excerpt from the Document.....  Preface Over the past decade, the relationship between the mobilization of financial resources for development and international tax cooperation featured prominently in the outcome documents of major United Nations conferences and summits on economic and social matters. These include the 2002 Monterrey Consensus, the 2008 Doha Declaration on Financing for Development, as well as the outcomes… Read More

Tags: canadaCooperationDoha DeclarationInternational taxationTaxTax treatyTreatyUnited States

Timely Issue of TDS Certificate to Customers

RBI/2013-14/361 DBOD.No.Leg.BC.65/09.07.005/2013-14 November 6, 2013 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Timely Issue of TDS Certificate to Customers It has been brought to our notice that, some banks are not providing TDS Certificate in Form 16A to their customers in time, causing inconvenience to customers in filing income-tax returns timely. 2. The matter… Read More

Tags: BanksFiscal yearIncome taxNew DelhiRajesh VermaTaxTax Deducted at SourceTDS Certificate

Processing of DVAT refund claims expeditiously through System

GOVT OF NCT OF DELHI DEPARTMENT. OF TRADE & TAXES VYAPAR BHAWAN, NEW DELHI-110002 No.F. 1/2010-11/EDP/CTT/2169                            Dated:    1 1 /10/2013 CIRCULAR  Processing of refund claims expeditiously through System In order to streamline the disposal of refund cases and in continuation of  this Department Circular No. F.3 (378)/Policy/VAT/ 2013/796-801 dated 17/09/2013, following guidelines are hereby issued :- 1. Details… Read More

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DVAT Partial modification of Circular 19 Regarding filing of Stock Statement.

GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE AND TAXES VYAPAR BHAWAN, I.P.ESTATE, NEW DELHI-110 002 No.F.7(433)/Policy-II/VAT//2012/PF/887-94                 Dated: 04/10/2013 CIRCULAR NO. 20 of 2013-14 In partial modification of Circular NO.19 of 2013-14, the requirement of separate filing of Stock-1 statement may be read as "2011-12" instead of 2012-13. Rest… Read More

Tags: chartered accountantCommissionerCompany SecretaryDelhiIndiaNew DelhiTaxValue AddedTax

TDS Credit has to be given despite TDS Certificate entry is not displayed in Form 26AS

CLR Editorial Note: In this case or TDS credit, the assessee claimed credit for TDS which was denied by the Assessing Officer on the ground that the claim did not match the entries shown in Form No. 26AS and that there was a discrepancy. On appeal by the assessee, the CIT(A) held that the assessee… Read More

Tags: Bombay High CourtCommonwealth Law ReportsDelhi High CourtIncome taxIndiaOrder of AustraliaTaxTax Deducted at SourceTDS

Due-Date for Filing Returns of Income in Cases of Income Tax Assessees in Gujarat Extended upto 14th October 2013

On consideration of reports of dislocation of general life caused due to recent heavy rains and floods in the State of Gujarat, the Central Board of Direct Taxes (CBDT) has extended the ˜due-date™ for filing Returns of Income from 30th September, 2013 to 14th October, 2013, in cases of Income Tax assessees in the State… Read More

Tags: CBDTCentral Board of Direct TaxesCommonwealth Law ReportsGujaratIncome taxTaxTaxation in IndiaUnited States

DVAT (Third Amendment) Rules, 2013

In exercise of the powers conferred by section 102 of the Delhi Value Added Tax Act, 2004 (Delhi Act 3 of 2005), the Lt. Governor of the National Capital Territory of Delhi, has amended the Delhi Value Added Tax Rules, 2005. The Notification is available for download. Click Here.  Read More

Tags: chartered accountantCompany SecretaryDelhiDelhi Value Added Tax ActIndiaNew DelhiTaxValue AddedTax

DVAT Central Form 1

(TO BE PUBLISHED IN PART IV OF THE DELHI GAZETTE EXTRAORDINARY) GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI FINANCE (REVENUE-I) DEPARTMENT DELHI SACHIVALAYA, I.P.ESTATE: NEW DELHI-110002 No.F.3(16)/Fin.(Rev-I)/2013-14/dsVI/787 Dated the 20.09.2013 NOTIFICATION No.F.3(16)/Fin.(Rev-I)/2013-14/ .- In exercise of the powers conferred by subsections 3 and 4 of section 13 of the Central Sales tax Act,1956 (Act No.… Read More

Tags: Bharatiya Janata PartyDelhiH FormIndiaIndo-Asian News ServiceLondonNew DelhiTax

Clarifications Seeking the Levy of Service Tax on Certain Services Relating to the Education Sector issued

Various representations have been received seeking clarifications regarding the levy of service tax on certain services relating to the education sector. Following are the representations received in this regard: Private Schools Correspondents Confederation, Madurai. Tamil Nadu Nursery, Primary, matriculation and Higher Secondary Schools Association, Chennai. Punjab Association, Chennai. Association of Self financing Universities of Rajasthan… Read More

Tags: ChennaiFinance ActGovernmentMumbaiNew DelhiPrivate schoolTaxTaxation in India

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