The last date for filing the return of Income is just about a week away and it is time to get set with your complete documents to comply with your tax filing. While you file your Income-tax returns, ensure that you have taken care of the following aspects , in order to avoid further complications […]
Filing your Income-tax Returns ? – For your attention !! Read More »
BUDGET 2014 – TAX PROPOSALS (Applicable for the Financial year 2014-15) RATES OF TAXES For Individuals (Below 60 years of age) & HUF Income Rate of Tax Upto Rs. 2,50,000 Nil Rs. 2,50,001 to Rs. 5,00,000 10% Rs. 5,00,001 to Rs. 10,00,000 20% Above Rs. 10,00,000 30% For Resident Individuals (above 60 years of
Budget 2014 – Tax Proposals Read More »
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
Statutory Obligations for the month of July 2014 Read More »
The Income-tax Department has notified the e-filing utility ITR-5 – Income-tax Return form in respect of Partnership Firms, Association of Persons (AOP) , Body of Individual (BOI) & Limited Liability Partnerships (LLP). With this, the following Income-tax Return e-filing utilities are notified for the A.Y.2014-15 (Financial year 2013-14) :- ITR-1 – For Individuals having Income
ITR-5 (A.Y.2014-15) e-filing utility for Partnership Firms notified Read More »
The Central Board of Direct Taxes (CBDT) has notified a new Wealth-tax Return Form-BB for filing the Wealth-tax returns in respect of Individuals,HUFs and Companies. The Salient features of this notification are :- 1) This return of Net-wealth in Form BB shall b applicable for the A.Y.2014-15 and other subsequent years, in case of Individuals,
New Wealth Tax return & filing procedure notified Read More »
The Ministry of Corporate Affairs has published a draft notification in its website www.mca.gov.in relating to the Exceptions/Modifications/Adaptations with regard to provisions in the Companies Act, 2013 relating to the Private Limited Companies. Suggestions/Comments on the proposed draft notification may be addressed/sent latest by 1st July, 2014 through email at exemptions@mca.gov.in. It has been requested that the
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
ITR 4 for A.Y.2014-15 – e-filing utility notified Read More »
The Income-tax Department has issued a notification dtd 11th June 2014 , notifying the Cost Inflation Index for the Financial Year 2014-15 (Assessment year 2015-16) as “1024”. The relevant notification is reproduced below :- [gview file=”http://bssridhar.com/blog/wp-content/uploads/2014/06/cii201415.pdf”] Source : www.incometaxindia.gov.in
Cost Inflation Index for 2014-15 notified. Read More »
The Reserve Bank of India vides its Notification No RBI/2013-14/634 DBOD.AML.BC. No. 119/14.01.001/2013-14 dtd 9th June 2014 has further simplified the KYC norms for opening/maintenance of bank accounts. As per this circular, the simplified requirement is as follows :- 1) Any one Address Proof (either Permenant or Present) is required to be submitted. When there is a
RBI further simplifies KYC Norms for Bank Accounts Read More »
The Income-tax Department has released the Return filing utility ITR-3 for filing returns in respect of Individuals/HUFs being partners in firms and not carrying out business or profession under any proprietorship for the A.Y.2014-15 (Financial Year 2013-14). Source :- www.incometaxindiaefiling.gov.in
ITR-3 filing utility for A.Y.2014-15 released Read More »
The Tamilnadu Government has issued a Notification GO (Ms) No 41 dtd 02/06/2014 amending the Annexure III to Form I monthly return. In the amended Annexure III , a specific line item for “ITC Reversal for CST Sales against C Form” has been added and the same is w.e.f 02/06/2014. In view of the above,
Change in Annexure III of Form I of TNVAT Act. Read More »
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
TNVAT- Online Generation of backlog Forms Read More »
The Reserve Bank of India had recently issued two important Circulars regarding the following :- 1) Levy of penal charges on non-maintenance of minimum balances in inoperative accounts. 2) Levy of foreclosure charges/pre-payment penalty on Floating Rate Term Loans. As per the above circulars, the RBI has instructed the banks as follows :- 1) No
Two Important notifications from RBI Read More »
The Income tax Department has notified new ITR Forms ITR-1 & ITR-4S for the A.Y.2014-15. The details of the same are provided below :- [table id=5 /] The forms/utility can be downloaded from the link available in www.incometaxindiaefiling.gov.in
New ITR 1 (SAHAJ) & ITR 4S (SUGAM) for A.Y.2014-15 (F.Y.2013-14) Notified Read More »
As per Section 12 of the Companies Act, 2013, (applicable from 1st April 2014) , every company shall print the following information compulsorily on all its business letters, bill heads, letter papers, letterheads, notices, and other official publications :- 1) Name 2) Registered office address 3) Coporate Identity Number 4) Telephone Number 5) Fax Number,
Important amendment in New Companies Act relating to Company Information Read More »
