Simplifying Taxation in India
The Supreme Court today ruled that Aadhar is not mandatory for availing various welfare schemes of the government. The court made it clear that even for availing facilities PDS, kerosene and LPG distribution system the card will not be mandatory. It barred the authorities from sharing personal biometric data collected for enrollment under the scheme. … Read more
5-Year Post Office Recurring Deposit Accountt From 1.4.2014, interest rates are as follows:- 8.4% per annum (quarterly compounded) On maturity INR 10/- account fetches INR746.53. Can be continued for another 5 years on year to year basis. Minimum INR 10/- per month or any amount in multiples of INR 5/-. No maximum limit. · Account can … Read more
Indian Government has started good general / life policies in the interest of Indian. Name of the schemes are given below :-Pradhan Mantri Suraksha Bima Yojana Pradhan Mantri Jeevan Jyoti Bima Yojana Atal Pension Yojana Sometime we feel that different policy providers force us to take policy by hook or crook and and we feel frustration to … Read more
The lure of a credit card is hard to resist, especially when a sales representative from a bank or a retail outlet makes a convincing pitch about you getting a ‘free’ credit card. But did you know that the credit card you are being promised is anything but free?What sales representatives of credit cards do … Read more
Posted: 30.03.2015 GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE AND CUSTOMS Service Tax Wing CIRCULAR NO. 182/01/2015 – ST New Delhi, the 27th March 2015 To The Principal Chief Commissioners/Chief Commissioners of Central Excise and Service Tax (All), The Director General of Service Tax, The Director General of Systems … Read more
Amendment in Section 80 IB unconstitutional – Gujarat HC N Amendment made in section 80-IB(9) by adding an Explanation was not clarificatory, declaratory, curative or made “small repair” in the Act, but on the contrary takes away the accrued and vested right of the Petitioner which had matured after the judgments of ITAT. Therefore, the … Read more
NEW DELHI, MAR 26, 2015 PRIME Minister of India Narendra Modi launched yesterday his ambitious multi-purpose and multi-modal platform PRAGATI (Pro-Active Governance And Timely Implementation). PRAGATI is a unique integrating and interactive platform. The platform is aimed at addressing common man’s grievances, and simultaneously monitoring and reviewing important programmes and projects of the Government of … Read more
MUMBAI, MAR 27, 2015: Issue before the Bench is – Whether Sec 50C will have any application if WDV is computed in terms of Sec 43(6). And the verdict favours the assessee. Facts of the case The assessee concern is a cotton merchant, whose business is seasonal in nature. It had incurred certain direct nature expenditures, … Read more
Income Tax Department – Defaulters – Name and Shame 27.03.2015. HE Income tax department yesterday published a list of 18 names of persons and companies who are tax defaulters of more than Rs. 10 crores. The Department wants these defaulters to pay the taxes immediately. As per the list, all the defaulters are either not … Read more
Export of services Relevant date for claiming refund under Rule 5 of CENVAT Credit Rules xport of services – Relevant date for claiming refund under Rule 5 of CENVAT Credit Rules – No error in order of CESTAT holding that relevant date is date of receipt of consideration: High Court HYDERABAD, MAR 27, 2015: PLEASE … Read more