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Sovereign Gold Bonds Scheme issued by MOF

September 17, 2015September 19, 2015 TaxIndiaUpdates In0 comments4936 views

Sovereign Gold Bonds Scheme guidelines has been issued by Ministry of Finance, Govt of India on 15-09-2015. The scheme will help in reducing the demand for physical gold by shifting a part of the estimated 300 tons of physical bars and coins purchased every … Continue Reading →

Personal Finance

Gold Monetization Schemes issued by MOF

September 17, 2015September 19, 2015 TaxIndiaUpdates In0 comments5319 views

Gold Monetization Schemes (GMS), guidelines has been issued by Ministry of Finance, Govt of India on 15-09-2015. The objective of introducing the modifications in the schemes is to make the existing schemes more effective and to broaden the ambit of the existing schemes from merely … Continue Reading →

Income Tax

Children Education Allowance : A Tool to Manage Tax Liability

September 13, 2015September 13, 2015 TaxIndiaUpdates In0 comments15354 views

To promote education in India the Government has introduced various tax exemption in relation of expenses on school going children. Following are eligible expenses: Tuition Fee: Section 80C of Income Tax Act, 1961 provides deduction from gross total income for payment of tuition fees … Continue Reading →

Personal Finance

Sukanya Samriddhi Account

September 13, 2015September 25, 2015 TaxIndiaUpdates In0 comments7314 views

To promote the welfare of Girl Child ‘ Sukanya Samriddhi Yojana ‘ was launched by Indian Prime Minister Sh. Narendra Modi on 22-01-2015 in “Beti Bachao, Beti Padhao” campaign vide Government of India Notification No. G.S.R.863(E) dated December 02, 2014. This is another successful … Continue Reading →

Personal Finance

Mudra Bank India : A New Platform to Boost Small Entrepreneurs

September 11, 2015September 19, 2015 TaxIndiaUpdates In0 comments7045 views

The ‘MUDRA Bank’ is another milestone initiative by Hon’ble Prime Minister Sh. Narendra Modi set up under the Pradhan Mantri MUDRA Yojana scheme. It will provide its services to small entrepreneurs outside the service area of regular banks, by using last mile agents. MUDRA which … Continue Reading →

Income Tax

No Extension in Due Date of Filing Returns by 30-09-2015 for A.Y. 2015-16:PIB

September 9, 2015September 25, 2015 TaxIndiaUpdates InComments Off70576 views

No Extension in Due Date of Filing Returns in case where the last date of filing returns for AY 2015-16 for assessees whose accounts are liable to get audited is 30-09-2015. The Ministry of Finance has issued press note that there would not be any … Continue Reading →

Income Tax

Due date of filing return has been extended upto 07-09-2015

September 2, 2015September 7, 2015 TaxIndiaUpdates In0 comments6285 views

Due date of filing return has been extended by CBDT in the case of all income tax assessees who are liable to file their Income tax returns by 31/08/2015. (CBDT vide order u/s 119 dated 02/09/2015). For details, as below: F.No.225/154/2015/ITA.II GOVERNMENT OF … Continue Reading →

Service Tax

Detailed Manual Scrutiny of Service Tax Returns

August 7, 2015March 25, 2016 TaxIndiaUpdates In0 comments9324 views

. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE AND CUSTOMS SERVICE TAX WING NEW DELHI CIRCULAR NO 185/4/2015-ST, Dated: June 30, 2015 To All Principal Chief Commissioners of Central Excise All Chief Commissioners of Central Excise/ Service Tax Principal … Continue Reading →

Income Tax

New Income Tax Return form ITR-3, ITR-4, ITR-5, ITR-6 and ITR-7 for A.Y.2015-16

July 30, 2015September 25, 2015 TaxIndiaUpdates In1 comments7380 views

New Income Tax Return form for AY 2015-16 has been notified by CBDT vide Notification No. 61/2015 dated 29-07-2015 Major changes in new return Forms for AY 2015-16 Expenditure on CSR activities to be shown in ITR-6 Aadhaar Number and passport number is … Continue Reading →

Budget 2015

Changes made in Direct Tax Law by Finance Act, 2015

July 20, 2015March 1, 2016 TaxIndiaUpdates In0 comments1792 views

. New Post: Changes made in Direct Tax Law by Union Budget 2016-17 Finance Act, 2015 has made various changes in Income Tax Act. Few of the important changes which require your attention are as under: Section 269SS prohibits acceptance of loan or deposit and section … Continue Reading →