If you have habit of making high value cash purchases (including jewellery/bullion) its time to shell out more money for your purchases. As per the recent Finance Bill 2017 (which is yet to be passed by the Parliament), you may have to pay TCS (Tax Collected at Source) @ 1% on your Cash purchases exceeding […]
ARE U MAKING CASH PURCHASES (INCLUDING JEWELLERY) EXCEEDING RS. 2 LAKHS? Read More »
As you are aware, the last date for filing the Form WW (TNVAT Audit Report) for the year 2015-16 is 31st December 2016. In view of the representations made by the dealers, the last date for the Assessees having their principal place of business (or) additional place of business in the Revenue Districts of Chennai,
Last date for filing Form WW (TNVAT Audit Report) extended Read More »
As you are aware , the last date for filing the TNVAT Audit Report in Form WW is 31st December every year. For the year 2015-16, the last date for filing the same is 31st December 2016. Recently, the TNVAT department has introduced a new Form WW for filing the VAT Audit Report. There was
TNVAT Audit Report- Format for the year 2015-16 Read More »
As you are aware, India is on path for a new tax reform – Goods & Service Tax (GST) which is proposed to be introduced w.e.f. 01st April 2017. All the existing assessees will be migrated to the new GST Portal for trasacting with the GST portal. The new GST portal www.gst.gov.in has been launched
Enrolment of existing tax payers under New GST portal Read More »
Know Your Customer Guidelines (Updated up to September 02, 2016) (This is a summarised and simplified version of the Reserve Bank of India’s Know Your Customer guidelines.) Q1. What is KYC? Why is it required? Response: KYC means “Know Your Customer”. It is a process by which banks obtain information about the identity and address
Updated Know Your Customer (KYC) guidelines issued by RBI Read More »
The following are the various statotory obligations for the month of September 2016 :- [table id=14 /]
Statutory Obligations for the month of September 2016 Read More »
Since there was a revision in the Annual forms AOC -4, and to give sufficient time to the stakeholders regarding the content of the forms, the Ministry of Corporate Affairs has extended the last date for filing the Annual Returns and Financial statements which will become due on or after 01st April 2016 , to
Last date for filing ROC forms extended Read More »
Due to the change in the e filing procedures and introduction of New portal for filing TNVAT returns, the method of payment of TNVAT & CST has also undergone considerable change. The method of payment of TNVAT/CST using the new portal is reproduced below :- [gview file=”http://bssridhar.com/blog/wp-content/uploads/2016/07/HOW-TO-MAKE-EPAYMENT-UNDER-NEW-TNVAT-PORTAL.pdf”]
How to make epayment under new TNVAT Portal Read More »
In order to finance and promote the initiatives and to improve welfare of the farmer and agriculture, the Government of India has introduced a new cess namely “Krishi Kalyan Cess”. The Krishi Kalyan Cess (KKC) will be levied @ 0.5% on the value of all taxable services. This is effective from 1st June 2016. In
Change in Rate of Service Tax w.e.f 01st June 2016. Read More »
The following are the Various Statutory Obligations for the month of May 2016. Payment of Service Tax The last date for Payment of Service tax pertaining to the month of April 2016 is 5th of May 2016. In case of e-payment, the due date is 6th of May 2016. In case of payment by Challan
Statutory Obligations for the month of May 2016 Read More »
In view of the difficulties faced by the assessees in accessing the ACES website, the last date for submission of the Half yearly return for the period from Oct-2015 to Mar 2016 has been extended from 25th April 2016 to 29th April 2016. Now, assessees who have missed their deadline can make use of this
Service tax return filing date extended Read More »
The Ministry of Corporate Affairs (MCA) portal for down for updation during the period from 25th March 2016 to 27th March 2016. The portal resumed operations from 28th March 2016 onwards. However, there were many issues faced by the stakeholders while filing the forms and they are being sorted out now by the Ministry. In
Waiver of additional fees by ROC Read More »
The Budget 2016 was presented in Parliament recently. The detailed analysis of Budget 2016 Tax Proposals is provided below :- [gview file=”http://bssridhar.com/blog/wp-content/uploads/2016/03/budget2016.pdf”]
Budget 2016 – Tax Proposals Read More »
The Government of Tamilnadu has launched a new portal for providing e-services relating to registration & filing in respect of TNVAT. The New portal can be accessed at http://ctd.tn.gov.in The Salient features of this e-C Tax intiative of Tamilnadu Government are :- 1) New Dealer Registration and the modification of details with regard to
INTRODUCTION OF NEW FILING PROCEDURES UNDER TNVAT Read More »
The Central Board of Direct Taxes (CBDT) has made significant changes in the requirement of submission of Permanent Account Number (PAN) in respect of certain specified transactions. As per new rule 114B, every person who enters into specified transactions shall quote his Permanent Account Number (PAN) in the documents pertaining to the transaction. The specified
New PAN Requirements Read More »
