ALL ABOUT TNVAT AUDIT APPLICABILITY Every registered dealer whose turnover including zero-rate sale and sale in the course of inter-state trade or commerce as specified in Section 3 of the Central Sales Tax Act, 1956 in a year, exceeds one crore rupees shall get his accounts audited by an Accountant and submit the report to […]
ALL ABOUT TNVAT AUDIT Read More »
The Central Board of Direct Taxes has notified the Cost Inflation Index for the year 2013-14. Cost Inflation Index for 2013-14 is 939 The relevant Notification is reproduced below :-GOVERNMENT OF INDIA MINISTRYOF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES NOTIFICATION No. 40/20136/8/13 INCOME-TAX New Delhi, the 6th day of June, 2013 S.O.
Cost Inflation Index for 2013-14 Notified. Read More »
The Income-tax department has notified the ITR-3 e-filing utility for the A.Y.2013-14. This form can be used by Individuals/HUF being partners in firms and not carrying out business or profession under any proprietorship. Click the link below for downloading the e-filing utility. ITR3_2013
ITR-3 e-filing utility for A.Y.2013-14 available now Read More »
The following are the Various Statutory Obligations for the month of June 2013. Payment of Service Tax The last date for Payment of Service tax pertaining to the month of May 2013 is 5th of June 2013. In case of e-payment, the due date is 6th of June 2013. In case of payment by Challan
Statutory Obligations for the month of June 2013 Read More »
The Income-tax efiling website (www.incometaxefiling.gov.in) has released the utility for filing the returns using ITR-2. This return form is to be used by an Individual or a HUF (Hindu Undivided Family) whose Total Income for Assessment Year 2013-14 includes- 1) Income from Salary/pension. or 2) Income from House property ; or 3) Income from Capital
ITR-2 E-filing utility available for download now. Read More »
Investment in Real estates is considered and preferred by many investors in view of the fact that the real estate transactions give a higher rate of return and the real estate investments are considered as an hedge against the Inflation. The past experience in the economy has also proved the same. Also, the real estate
UNDERVALUED REAL ESTATE TRANSACTIONS – A DOUBLE EDGED SWORD Read More »
The Central Board of Excise and Customs has issued a new circular No 169/4/2013 dtd 13/05/2013 providing few clarifications with regard to the Service Tax Voluntary Compliance Encouragement Scheme , 2013. The following are the clarifications issued :- 1) A person who has not already registered with the Service Tax Department , he can first
The Income-tax Department has notified the e-filing utility for filing the Income-tax Returns for the Financial year 2012-13 (Assessment Year 2013-14). As of now ITR-1 & ITR-4S forms have been notified. Click the Links below to download the efiling utilities Form ITR-1 for A.Y.2013-14 Form ITR4-S for A.Y.2013-14
ITR 1 & ITR 4-S e-filing utility for A.Y.2013-14 (Financial Year 2012-13) notified Read More »
The Central Government has issued a Notification No 10/2013 – Service Tax dtd 13 th May 2013 prescribing the rules for the Service Tax Voluntary Compliance Encouragement Scheme 2013. The Salient features of these forms are :- 1) It shall come into force on the date of its publication in the Gazette of India. 2)
Service Tax Voluntary Compliance Encouragement Scheme 2013 forms notified. Read More »
The Income-tax Department has issued a new Notification No 34/2013 dtd 01/05/2013. As per this notification, 1) Every assessee whose Total Income is exceeding Rs. 5 Lakhs shall necessary e-file his/her return of Income from the A.Y.2013-14 onwards. 2) The reports under sections 44AB (Tax Audit), 92E (Transfer Pricing) & 115JB (Minimum Alternative Tax) shall
The following are the Various Statutory Obligations for the month of May 2013. Payment of Service Tax The last date for Payment of Service tax pertaining to the month of April 2013 is 5th of May 2013. In case of e-payment, the due date is 6th of May 2013. In case of payment by Challan
Statutory Obligations for the month of May 2013 Read More »
The Service Tax Department has extended the last date for filing the Half yearly returns for the period from Oct’12-Mar’13. The original due date of 25th of April has been extended upto 31st of August 2013. The Service Tax department has also announced that the return preparation utility for the above period will also be
Due date for Oct 2012 – Mar 2013 Service Tax returns extended !!! Read More »
The last date for filing the Service Tax return for the Quarter 2 (July-Sep 2012) was originally fixed as 15th of April 2013. Due to the difficulties faced by the assessees in filing the returns, the CBDT vide its Order No 2/2013 dtd 12th April 2013 has extended the due date for filing the Service
Service Tax Q-2 (2012-13) Last date for Return filing Extended…. Read More »
The Central Board of Excise & Customs vide its order No :- 1/2013-Service Tax dtd 06th March 2013 has extended the due date for filing the Service Tax returns for the period from July 2012 – Sep 2012. As per the earlier order, the due date was 25th March 2013. Now , this time limit
Due Date for Service Tax Returns (for July-Sep 2012) Extended Read More »
BUDGET 2013 – IMPORTANT TAX PROPOSALS (Financial Year 2013 -14) DIRECT TAX PROPOSALS v Tax Slab Rates: ü Individuals: Tax Rates for the Individuals will remain the same as per last Financial Year 2012-13, which is as follows :- Tax Rates for all the Individual Assessee below 60 years of age
Budget 2013 – Tax Proposals Read More »
