Budget 2015 Tax proposals
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General
Budget 2015 Highlights
These items are going to be costlier in 2015-16 :- 1) Your Telephone Bill (Increase of 1.64% in Service tax) 2) Your Mobile Bill (Increase of 1.64% in Service tax) 3) Your Restaurant outing Cost (Increase of 1.64% in Service tax) 4) Cost of your New House/Flat (Increase of 1.64% in Service tax) 5) Courier
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Extension of RTGS Time window – New initiative by RBI
The Real Time Gross Settlement (RTGS) has become an intergral part of todays business irrespective of the size of the Business. Due to growing usage of the same and demand from the market, the RBI has decided to advance the RTGS Business hours to 8:00 hours from 9.00 hours and extend closing time of RTGS to 20.00
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How to make e-payment of TNVAT?
Recently, TNVAT Department has made the e-payment of monthly taxes, mandatory in respect of assessees whose turnover during the previous year is more than 1 Crore. As a prelude to the complete computerization and online management system in TNVAT, many assessment circles have issued notices to all assessees irrespective of their turnover to make only
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Last date for filing Service Tax Half yearly returns for Apr-Sep extended..
Due to natural calamities in certain parts of the country, the Service Tax Department, Ministry of Finance , vide its Order No 02/2014 dtd 24th October 2014 , has extended the last date for filing the Half yearly returns in respect of Service tax for the period from Apr 2014 to Sept 2014. As per
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Company Law Settlement Scheme 2014 – Opportunity for Companies
The Ministry of Corporate Affairs vide its Circular No 34/2014 dtd 12th August 2014 has introduced a new scheme for Companies for filing their backlog Annual Returns. WHOM THIS SCHEME APPLIES? This scheme is applicable for defaulting companies which have made a default in filing of annual Statutory Documents. WHOM THIS SCHEME DOES
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Statutory Obligations for the month of August 2014
The following are the Various Statutory Obligations for the month of August 2014. Payment of Service Tax The last date for Payment of Service tax pertaining to the month of July 2014 is 5th of Aug 2014. In case of e-payment, the due date is 6th of August 2014. In case of payment by Challan GAR
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Form 3CA,3CB (Audit Report) & Form 3CD (Annexure to Audit Report) Modified
Audit of Books of accounts in respect of businesses with Turnover/Gross Receipts exceeding Rs. 1 Crore and businesses declaring Net Profit less than 8% of the Turnover/Gross receipts is mandatory. The Income-tax Departments has made the online submission of the Audit Report (Form 3CA / Form 3CB as applicable) and the prescribed particulars to be
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Statutory Obligations for the month of July 2014
The following are the Various Statutory Obligations for the month of July 2014. Payment of Service Tax The last date for Payment of Service tax pertaining to the month of June 2014 (Corporate Assessees) , Apr-June 2014 (For other assessees) is 5th of July 2014. In case of e-payment, the due date is 6th of
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ITR 4 for A.Y.2014-15 – e-filing utility notified
The Income-tax Department has notified the ITR-4 e filing utility for A.Y.2014-15 (F.Y.2013-14). The utility notified by the Income-tax Department is a Java based utility. ITR-4 is for Individuals & HUFs having Income from a proprietory business or profession. This utility can be downloaded from www.incometaxindiaefiling.gov.in With this , totally 5 Income-tax efiling utilities have
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TNVAT- Online Generation of backlog Forms
From October 2012 onwards under the TNVAT act, the dealers were required to file Annexure – I A in respect of purchases/transactions for which Statutory forms (viz Form C / Form F), are to be issued. This was done with a view of downloading the Statutory Forms (Form c & F) from the e filing
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TNVAT E payment Mandatory for assessees with more than 2 Crore Turnover
The Government of Tamilnadu has issued a new notification dtd 25th March 2014. As per this new notification, every registered dealer , who is liable to pay tax under TNVAT Act & whose turnover exceeds Rs. 2 Crores during the previous year, shall pay the tax due only by means of electronic payment only through
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Statutory Obligations for the month of March 2014
The following are the Various Statutory Obligations for the month of March 2014. Payment of Advance Tax The last date for Payment of Advance Tax (4th Instalment in case of Companies & 3rd Instalment in case of Non Companies) for the A.Y.2014-15 is 15th March 2014. Click here to make Advance Tax Payment online. Click here to download Challan
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TNVAT-Clarification Circular issued regarding Annexure V to Form I
The Government of Tamilnadu had amended the Form I by introducing Annexure – V in respect of ITC Claimed and carried forward. In view of the various representations received from various trade & industries, the Commissioner of Commercial Taxes has issued certain clarifications with regard to filing of Form I along with Form I. The
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Statutory Obligations for the month of December 2013
The following are the Various Statutory Obligations for the month of December 2013. Payment of Advance Tax The last date for Payment of Advance Tax (3rd Instalment in case of Companies & 2nd Instalment in case of Non Companies) for the A.Y.2014-15 is 15th December 2013. Click here to make Advance Tax Payment online. Click here to download Challan for
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