TaxIndiaUpdates.In : GST, Service Tax, Income Tax, VAT, Tax Planning

Withdrawal of Prosecution in Central Excise old cases

March 6, 2016 TaxIndiaUpdates In0 comments4271 views

. Circular No. 1018/6/2016-CX dated February 29, 2016 specified the situation regarding withdrawal from prosecution in Central Excise cases older than 15 years involving duty less than Rs.25 lakhs. Circular No. 1018/6/2016-CX F. No. 96/54/2014-CX.1 Government of India Ministry of Finance Department of Revenue … Continue Reading →

Central Excise

Certificate evidencing payment of Central Excise duty

March 6, 2016 TaxIndiaUpdates In0 comments2601 views

. CBEC Circular No. 1017/5/2016-CX dated February 29, 2016 clarified that the benefit of Circular No.620/11/2002-CX dated 20.02.2002 (facility of issuing of Certificate as proof of payment of Central Excise duty was extended to Small Scale Industry) shall be extended to the entire industry as a … Continue Reading →

Central Excise

Registration of two or more premises as one registrant in Central Excise

March 6, 2016 TaxIndiaUpdates In0 comments3001 views

CBEC Circular No. 1016/4/2016-CX dated February 29, 2016 clarified that if two or more premises of the same factory are located in a close area, these premises are within the jurisdiction of a Central Excise Range and the process undertaken there are interlinked and the units … Continue Reading →

Budget 2017

Krishi Kalyan Cess

March 3, 2016March 16, 2016 TaxIndiaUpdates In1 comments8012 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 comments3950 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 comments5400 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 comments7118 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 comments8720 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 comments6539 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 comments5444 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 →