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How to get ready for GST

Find out how small businesses, entrepreneurs and self-employed can GST ready In the five years she has been running a small business of gift packaging, Samiksha Dhingra has not felt the need to apply for a sales tax number. But this will soon change because Dhingra plans to take her business online....

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Income Disclosure Scheme – Effective Tax Rate is 45% only (not 31%)

Income Disclosure Scheme – Effective Tax Rate is 45% only (not 31%) Effective Tax Rate is 45% only (not 31%) under Income Disclosure Scheme 2016 CBDT has clarified in Q No. 6 of Circular 27 of 2016 dated 14th July 2016 that the tax rate will be 45% only and tax has to be paid […]

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Delhi HC rules against Income Tax Department

Court dismisses charges against Sony, after it is revealed Ricky Martin was coerced in giving false statement against Sony Music (India) Ltd by IT Department officials Officials of the Income Tax department have been left red-faced because of a letter written by Latin singer Ricky Martin, in which h...

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SEVEN YEARS RIGOROUS IMPRISONMENT WITH FINE OF RS.1.5 LAKH TO THEN INCOME TAX OFFICER IN A BRIBERY CASE

The Special Judge, CBI Cases, Dehradun has today convicted Shri Dinesh Kumar, then Income Tax Officer, Pithoragarh (Uttarakhand) in a bribery case and sentenced him to undergo seven years Rigorous Imprisonment with fine of Rs.1.5 lakh. CBI had registered a case on the allegations that Shri Dinesh Ku...

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Service Tax Rate increased to 14% w.e.f. 1st June 2015

President Pranab Mukherjee has given his assent to the Finance Bill, 2015, which was notified on Tuesday. The finance ministry on Tuesday notified increasing service tax from current 12.36% to 14% with effect from 1st June 2015 (Notification No. 14/2015-ST  dated 19th May, 2015). This will make a h...

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MVAT: Due date for filing form e-704 has extended to 30.01.2015

Kindly note that the due date for filing form e-704 has been extended up to 30th January 2015 from 15th January 2015.

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RBI cuts policy rates by 25 basis points

Statement by Dr. Raghuram G Rajan, Governor on Monetary Policy- Date: 15 Jan 2015 Since July 2014, inflationary pressures (measured by changes in the consumer price index) have been easing. The path of inflation, while below the expected trajectory, has been consistent with the assessment of the bal...

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Fees & Penalty for late / Non filing of TDS Return

No filing or Late filing of TDS returns or TDS statement shall invite two penal consequence, one Fee for late filing of TDS Return U/s 234E and second Penalty for late filing or Non filing of TDS statement U/s 271H. Fee U/s 234E for late filing of TDS Statement: If you filed late income tax retu...

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Delhi VAT – Due date extended for filling online return in Form 9 for year 2013-14

In exercise of the powers conferred under Rule 49A of the Delhi Value Added Tax Rules 2005 read with section 9(2) of Central Sales Tax Act, 1956. The Commissioner, Value Added Tax, extended the last date of filling of online return in Form 9 for the year 2013-14, prescribed under Rule 4 of Central S...

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Removal of Auditor under Company Act, 2013!

The Ministry has taken a big step by notifying 183 major sections of Companies Act, 2013 w.e.f. 01.04.2014 out of which the provisions relating to Audit & Auditors is of utmost importance for all the Chartered professionals out there. This article contains the provision relating to Removal of Au...

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