The Central Board of Direct Taxes (CBDT) vide its Notification No :- S O No 3794(E) dtd. 23/12/2013 has made important changes in procedure for PAN Application & Allotment. The important changes are as follows :- 1) Apart from Proof of Identity & Proof of Address, a new document (Proof for Date of Birth) needs […]
Change in Procedure for PAN Application & Allotment Read More »
There has been confusion with regard to inclusion of Service Tax component in respect of Payments which are also subject to Tax Deduction at Source (TDS). Earlier the CBDT had issued a Circular No 4/2008 , wherein in respect of Rent Payments, it was clearly mentioned that the TDS Shall be deducted only on the
NO TDS on Service Tax , if shown seperately Read More »
The Government of India has decided to issue Inflation Indexed National Savings Securities which is aimed at an alternative instruments to hedge the rate of inflation. This issue is intended for Retail Investors and are linked to the Consumer Price Index (CPI) (Base : 2010=100). The FAQs of Inflation Indexed National Savings Securities are given
RBI’s Inflation Indexed National Savings Securities – FAQ’s Read More »
The Central Board of Direct Taxes vide its order u/s. 119 (2)(a) of the Income-tax Act,1961 dtd 13th December 2013 has extended the due date for payment of December quarter Advance Tax for the Financial Year 2013-14 , from 15th December 2013 to 17th December 2013 for all the assessees , corporate and other than
Advance Tax Due date for Dec 2013 extended Read More »
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
TNVAT-Clarification Circular issued regarding Annexure V to Form I Read More »
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
Statutory Obligations for the month of December 2013 Read More »
The Tamilnadu Government has made few important amendments in TNVAT Act with regard to reversal of Input Tax Credits in respect of Inter-state sales and Stock Transfers outside the State. These amendments were carried out by enacting a Tamilnadu VAT (Fifth Amendment) Act, 2013 (Amendment Act) on 8th November 2013. The effective date for these
Important amendment to TNVAT Act regarding ITC Reversal Read More »
The Service Tax Department has issued a new Circular No 174/9/2013 – ST dtd 25th November 2013 , regarding the new Voluntary Compliance Encouragement Scheme 2013 (VCES 2013). The unresolved issues raised by assessees have been clarified in this circular. The Circular is reproduced below :- [gview file=”http://bssridhar.com/blog/wp-content/uploads/2013/11/25112013_ST_Circular-No174_2013_st.pdf”]
New Clarifications for VCES 2013 issued Read More »
As per the new TNVAT notification No GO ( MS) 137 dtd 31-10-2013, issued by the Commercial tax Department, w e f 1st Nov 2013, the TNVAT monthly returns shall be appended with new Annexure V wherein details of the closing inventory at the end of every month with Input tax credit there on shall
Important amendment to Form I TNVAT Monthly return Read More »
The Tamilnadu Commercial Tax Department has extended the Last date for filing the TNVAT Audit Report for the year ending 31st March 2013 till 31st December 2013. As per the existing provisions, the TNVAT Audit report in Form WW shall be filed within 7 months from the end of the Financial year. As per the
TNVAT Audit Report Last Date extended… Read More »
The Central Board of Direct Taxes (CBDT) has extended the due date of filing of Audit Report & Income-tax returns where the same where required to be filed on or before 30th September 2013 to 31st October 2013. In its order under Section 119 of the Income-tax Act, 1961 (Order No F.No.225/117/2013/ITA.II dtd 24th October
CBDT Technically Extends last date for tax audit to 31st October 2013 Read More »
The Income-tax Department has issued a new circular No 8/2013 dtd 10th October 2013. This circular provides the procedures to be followed for Tax Deduction at Source on Salaries during the year 2013-14 In this circular, the Income-tax Department has provided as follows :- 1) Where the House Rent Allowance (HRA) amount is than Rs
PAN of Landlord Mandatory for Claiming HRA (For rent exceeding Rs. 1 Lakh p.a) Read More »
The following are the Various Statutory Obligations for the month of September 2013. Payment of Service Tax The last date for Payment of Service tax pertaining to the month of August 2013 is 5th of Sep 2013. In case of e-payment, the due date is 6th of September 2013. In case of payment by Challan
Statutory Obligations for the month of September 2013 Read More »
The Central Board of Direct Taxes has notified the much awaited “Safe Harbour Rules” which are applicable in case of transactions entered into associate enterprises in respect of which Transfer Pricing regulations apply. The draft rules as notified is reproduced below :- [gview file=”http://bssridhar.com/blog/wp-content/uploads/2013/08/14082013_DraftSafe_14082013.pdf”] Courtesy :- www.incometaxindia.gov.in
Draft Safe Harbour Rules notified Read More »
The Central Board of Direct taxes (CBDT) has prescribed the procedure and criteria for selection of scrutiny cases under compulsory manual during the financial year 2013-2014 . The guideline prescribed by the Income-tax department is reproduced below :- [gview file=”http://bssridhar.com/blog/wp-content/uploads/2013/08/07082013_Scrutiny_Cases_06082013.pdf” save=”1″] Courtesy :- www.incometaxindia.gov.in
Procedure and Criteria for Selection of Scrutiny of IT Cases for the year 2013-14 Read More »
