Service Tax
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…
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Service Tax
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…
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Service Tax
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 mod…
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Ministry of Corporate Affairs
Procedure for Transfer of Shares as per Companies Act, 2013
Main Provisions related to Transfer of Shares 1. I nstrument for Transfer of Share is compulsory: Section 56 provides that a company shall n…
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Ministry of Corporate Affairs
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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Tax Deducted at Source
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 reco…
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Income Tax
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 A…
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Tax Deducted at Source
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 Com…
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Income Tax
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 da…
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Service Tax
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 s…
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Service Tax
Procedure for Surrender and Cancellation of Service Tax Registration
1. Attention of the trade is invited to the provisions of sub-rules (7) and (8) of the Rule 4 of the Service Tax Rules, 1994, which provide for sur…
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Tax Deducted at Source
Dont Misuse Form 15G, 15H for avoid TDS
Imprisonment and fines await those who wrongly file the two forms to avoid tax on interest income. Getting a tax refund can be cumbersome as dela…
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Income Tax
Government to modify new income tax return forms
Government today said it has decided to "modify" the new Income Tax Return (ITR) forms in wake of concerns raised over them. The Inco…
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TallyERP.9 Lessons
Lesson - 50 Settings of Statutory Compliances in Tally.ERP9
Tally.ERP9 is the most usable accounting Software in India. It is used in Industries, Firms, Educational Institutes, CA Firms etc. and all these ne…
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TallyERP.9 Lessons
Tally.ERP9 Quiz
Our Lots of viewers asks many type of questions about Tally.ERP9 fundamentals. Some time questions about shortcut keys, some time about taxation, s…
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Excise
CBEC clarifies - Dealer registration not mandatory for Sale in Transit
Background: Vide Notification No. 8/2015-C.E. (N.T.), dated March 1, 2015, the following provisos were added to Rule 11(2) of the Central Excise …
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TallyERP.9 Lessons
Lesson 49 - How to Surrender Tally License when computer is Corrupted
This is very big problem to Tally Users to Surrender their license when system corrupt. Now the problem is resolved and the solution is only provid…
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Companies Act
Auditors Report on Consolidated Financial Statements under the Companies Act, 2013
The Auditing and Assurance Standards Board, under the authority of the Council, has already issued the illustrative formats of the auditor’s report…
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Income Tax
Pradhan Mantri Suraksha Bima Yojana - 13 Points to know
Finance Minister Arun Jaitley in Budget 2015-16 announced a low-cost personal accidental cover called Pradhan Mantri Suraksha Bima Yojana to increa…
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Service Tax
SERVICE TAX - Notification No. 12/2015 amended on 30.04.2015
GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION New Delhi, the 30 th April, 2015 No. 12/2015-Service Tax,
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Service Tax
Service Tax Liability of Any Person Other Than Service Provider
Section 68 (1) of the Finance Act, 1994 (‘Act’ for short) provides for the liability of paying service tax by the service provider. Section 68 (2)…
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