TaxIndiaUpdates In

Budget 2017

Krishi Kalyan Cess

March 3, 2016March 16, 2016 TaxIndiaUpdates In1 comments9001 views

March 03, 2016 Krishi Kalyan Cess is proposed to be levied with effect from 1st June, 2016 on any or all the taxable services at the rate of 0.5% on the value of such taxable services. By introducing such levy the effective rate of Service … Continue Reading →

Income Tax

Clarification about changes made in the Tax Treatment for Recognised Provident Fund and NPS

March 3, 2016 TaxIndiaUpdates In0 comments5019 views

March 01, 2016 CBDT Press Release: There seems to be some amount of lack of understanding about the changes made in the Budget on the Tax Treatment for Recognised Provident Fund and NPS. The following clarifications are given in this matter:- The purpose of this … Continue Reading →

Income Tax

CIT Appeal Form No 35 shall be Filed Electronically

March 3, 2016March 3, 2016 TaxIndiaUpdates In0 comments6365 views

March 01, 2016 CBDT vide Notification No. 11/2016 dated March 01, 2016 (F.No.149/150/2015-TPL) issued new CIT Appeal Form No 35 for filing electronically. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE Notification No.11/2016-Income-tax New Delhi, the 1st March, 2016 S.O. 637 (E).─ In exercise of the … Continue Reading →

Income Tax

CBDT Circular on TDS on payments by broadcasters to production houses

March 1, 2016March 8, 2016 TaxIndiaUpdates In0 comments8569 views

February 29, 2016 CBDT issued Circular No. 4/2016 dated 29.02.2016 deals with TDS on payments by broadcasters or television channels to production houses for production of content or programme for telecasting. It has been clarified in the Circular that in a situation where the content/programme is produced … Continue Reading →

Income Tax

CBDT Circular on TDS on Payments by Television Channels to Advertisement Companies

March 1, 2016March 8, 2016 TaxIndiaUpdates In0 comments10181 views

February 29, 2016 CBDT issued Circular No.5/2016 dated 29.02.2016 deals with TDS on payments by television channels and publishing houses to advertisement companies for procuring or canvassing for advertisements. It has been clarified through the Circular that no TDS is attracted on payments made by television channels/newspaper … Continue Reading →

Income Tax

CBDT Circular on Taxability of surplus on sale of shares and securities

March 1, 2016 TaxIndiaUpdates In0 comments8335 views

February 29, 2016 CBDT vide its Circular No.6/2016 dated February 29, 2016 clarified the issue of taxability of surplus on sale of shares and securities whether it is Capital Gains or Business Income. The following instructions are given to deal the situation: a) Where the … Continue Reading →

Central Excise

Pan Masala Packing Machines Duty Rules

March 1, 2016April 12, 2016 TaxIndiaUpdates In0 comments8622 views

Pan Masala Packing Machines (Capacity Determination And Collection Of Duty) Rules, 2008 (As amended by Notification No.9/2016-Central Excise (NT), Dated: March 1, 2016) In exercise of the powers conferred by sub-sections (2) and (3) of section 3A of the Central Excise Act, 1944 (1 of 1944), … Continue Reading →

Central Excise

Chewing Tobacco and Unmanufactured Tobacco Packing Machines Capacity and Duty Rules

March 1, 2016April 14, 2016 TaxIndiaUpdates In0 comments5891 views

Chewing Tobacco and Unmanufactured Tobacco Packing Machines (Capacity Determination and Collection of Duty) Rules, 2010 (As amended by Notification No.10/2016-Central Excise (NT), Dated: March 1, 2016) In exercise of the powers conferred by sub-sections (2) and (3) of section 3A of the Central Excise Act, … Continue Reading →

Budget 2017

Finance Bill 2016 Provisions Relating to Direct Taxes

February 29, 2016March 25, 2016 TaxIndiaUpdates In0 comments6048 views

Finance Bill 2016 Provisions Relating To Direct Taxes Introduction The provisions of Finance Bill, 2016 relating to direct taxes seeks to amend the Income-tax Act, 1961 (’the Act’) , the Finance (No.2) Act, 2004, Finance Act, 2013 and Finance Act 2015, in order to provide … Continue Reading →

Budget 2017

CBEC TRU Circular on Service Tax Changes in Union Budget 2016-17

February 29, 2016March 25, 2016 TaxIndiaUpdates In0 comments8522 views

D.O.F. No.334/8/2016-TRU dated February 29, 2016 Service Tax Changes in Union Budget 2016-17 Government of India Ministry of Finance Department of Revenue (Tax Research Unit) *** Amitabh Kumar Joint Secretary (Tax Research Unit) Tel: 011-23093027; Fax: 011-23093037 E-mail: amitabh.kumar@nic.in D.O.F. No.334/8/2016-TRU New Delhi, dated February29th, … Continue Reading →