Chartered accountant in chennai
The Reserve Bank of India (RBI) in consultation with Government of India (GOI) has announced about the issue of “Sovereign Gold Bonds” . The highlights and features of this Sovereign Gold bonds (2015-16) is as follows :- [table id=10 /] Source :- www.rbi.org.in
Sovereign Gold Bond 2015-16 – Highlights & Information Read More »
The Central Board of Direct Taxes (CBDT) has notified the Cost Inflation Index (CII) for use in Indexation for computing the Capital Gains during the year 2015-16. The Cost Inflation Index has been notified as “1081” The relevant Notification is reproduced below :- SECTION 48, EXPLANATION (v) OF THE INCOME-TAX ACT, 1961 – CAPITAL GAINS
Cost Inflation Index for year 2015-16 notified Read More »
The following are the Various Statutory Obligations for the month of July 2015. Payment of Service Tax The last date for Payment of Service tax pertaining to the month of June 2015 (Corporate Assessees) , Apr-June 2015 (For other assessees) is 5th of July 2015. In case of e-payment, the due date is 6th of
Statutory Obligations for the month of July 2015 Read More »
The Income-tax Department vide Order under Section 119 of the Income-tax act,1961 dtd 10th June 2015 (F.No.225/154/2015/ITA.II) has extended the due date for filing the return of income in respect of assessees whose accounts are not required to be audited (including assessees having only salaried income). As per the said order, the last date of
Due date for filing IT Returns extended till 31st Aug 2015 Read More »
The following are few of the important changes will be applicable from 1st June 2015 in respect of Service Tax :- 1) Rate of Service tax has been changed from 12% to 14% 2) Education Cess & Secondary Education Cess removed 3) The definition of ‘chit’ has been omitted from the abatement notification 26/2012 4)
New Rate of Service Tax @ 14% applicable from 1st June 2015 Read More »
The TNVAT Department vide its Proceedings No. Acts Cell-5/20414/2014 dtd 12th March 2015 has notified new commodity codes in respect of Commodities chargeable to TNVAT. The existing Commodity codes have been recodified for betting accounting and accuracy in data. This is a step towards the Total Solution Project (TSP) of the TNVAT Department. These new
TNVAT New Commodity Codes notified Read More »
Recently, the Tamilnadu Government, in its Budget presentation had proposed certain changes in the TNVAT Act which includes changes in rate of tax and provisions with regard to withdrawl of ITC reversal in respect of Inter-state Sales. These changes have come into effect from 1st April 2015. The relevant Gazette notification dtd 31st March 2015
Effective Date for TNVAT Amendment 2015 Read More »
The State Budget for the year 2015-16 was presented in the Legislative Assembly today. There were certain proposals proposed in the budget presented. The following are the proposed Changes in TNVAT :- 1) Electricity Tax on generating plants using Biomass (excluding bagassee) will be withdrawn to give a boost to green energy producers. 2) Input Tax Credit
TNVAT – Changes proposed in Budget 2015-16 Read More »
[gview file=”http://bssridhar.com/blog/wp-content/uploads/2015/03/budget-2015.pdf”]
Budget 2015 Tax proposals Read More »
The Reserve Bank of India vide its Notification No RBI/2014-15/363 DBR.RRB.BC.No.55/03.05.33/2014-15 dtd Dec 22 , 2014 has notified additional guidelines to RRBs with regard to levy of penal charges on non-maintenance of minimum balances in savings bank accounts. According to this notification, the RRBs shall adhere to the following guideline for levy of penal charges for non-maintenance
New RBI notification for RRB regarding charges on Minimum Balance in Savings Accounts Read More »
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
Extension of RTGS Time window – New initiative by RBI Read More »
As you are aware, the Ministry of Company Affairs (MCA) had announced a scheme Company Law Settlement Scheme (2014) (CLSS 2014) to facilitate corporate entities having backlog in filing the Annual Returns and Balance sheets with the Registrar of Companies. As per the scheme, a concession in the additional fees and also immunity from prosecution
Company Law Settlement Scheme 2014 extended again.. Read More »
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
Last date for filing Service Tax Half yearly returns for Apr-Sep extended.. Read More »
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
Statutory Obligations for the month of August 2014 Read More »
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
Form 3CA,3CB (Audit Report) & Form 3CD (Annexure to Audit Report) Modified Read More »
