Whether the Service Tax Liability can be transferred to Third Party?

The concept of service tax was introduced in the year 1994 by Chapter V of Finance Act, 1994.  According to the provisions of the Act and the rules made there under every person providing taxable services to any person is liable to pay service tax at the rates specified now and then, to the credit of the Central Government. Now in certain cases the service receiver is also liable to pay service tax at the rates specified by the Government in this regard.  Every person paying the service tax is required to register with the Central Excise Department and liable to file returns in ST-3 form periodically.
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New Penalty Provisions Under Cenvat Credit Rules

Vide Notification No. 6/2015-ST dated 1.3.2015, following amendments have been made in Rule 15containing penal provisions to rationalize penalties w.e.f. date of enactment of Finance Act, 2015(14.05.2015)
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New Service Tax Effective June 1, FDI Rules Relaxed for NRIs

The proposed goods and services tax (GST) regime, slated to be introduced from April 1, 2016 will be a paradigm shift from the present taxation model to an advanced one. While GST is flaunted as the single largest indirect tax reform that will boost India’s GDP, its impact on the consumer is less talked about.
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Procedure for Transfer of Shares as per Companies Act, 2013

Main Provisions related to Transfer of Shares
1.   Instrument for Transfer of Share is compulsory: Section 56 provides that a company shall not register a transfer of shares of, the company, unless a proper transfer deed in Form SH.4 as given in Rule 11 of Companies (Share Capital & Debentures) Rules 2014 duly stamped and executed by or on behalf of the transferor and by or on behalf of the transferee and specifying the name, address and occupation, if any, of the transferee, has been delivered to the company, along with the certificate relating to the shares, or if no such certificate is in existence, along with the letter of allotment of the shares. You may download soft copy of Form No. SH.4 from the link given below:
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Form SH-4 Share Transfer in Word Format

Form SH-4 Share Transfer in Word Format As per Companies Act 2013

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Reasons to reject the correction in salary detail records by TDSCPC

Recently TDS (CPC) has clarify that reasons to reject the correction in salary detail records and Reasons to reject the correction in deductee records are as follows respectively:
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Section 89 of the Income-tax Act

An employee’s tax liability can increase when she receives arrears. However, one can get some amount of relief under section 89 of the Income-tax Act, 1961. Here is a look at what is covered under this section, and how one can avail of the relief.
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Correction in Error of Original TDS Statement Defaults

As you may be aware, Centralized Processing Cell (TDS) intimates you of possible PAN Errors and Short Payment Defaults, through an Intermediate Communication, during processing of Original Quarterly TDS Statements. This change was incorporated in processing of TDS Statements, in view of feedbacks received from deductors, to avoid defaults that may arise due to inadvertent data entry errors.
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Filing of Income Tax Return for AY 2015-16 and Advantages & Disadvanteges of ITR AY 2015-16

Income Tax Return is not mandatory whose income below Rs. 250000/-.  Apart from this if you have pan card must file income Tax Return before due date, even if your Taxable Income is less than Rs. 250000/-.  
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Service Tax Rate Increased from 12.36% to 14 % w.e.f. 01.06.2015

Post enactment of Finance Act'15, trade was waiting for the Finance Ministry to notify the date for enhancement of service tax. Finally, the same has been notified as 1st June'15. Following is the gist of changes applicable w.e.f. the said date:
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