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

Settlement Commission cannot admit cases related to Smuggling of Goods

October 5, 2015October 5, 2015 TaxIndiaUpdates In0 comments4869 views

. The Central Board of Excise & Customs on the basis of decision of Hon’ble Delhi High Court in case of Addl. Commissioner of Customs vs Shri Ram Niwas verma dated 25th August 2015 has directed to deparmental officers vide instruction no. F.No. 275/46/2015-CX.8A dated 01-10-2015 that Settlement … Continue Reading →

Service Tax

Service Tax Rates and Interest on Delay Deposition

October 3, 2015August 9, 2021 TaxIndiaUpdates In0 comments8093 views

Service Tax Rates and Interest on Delay Deposition Rate of Service Tax Sr. No. Period Rate of Service Tax Rate of Edu. Cess Rate of SHE Cess 1 From 01-06-2015 14% Nil Nil 2 From 01-04-2012 12% 2% of S.T. 1% of S.T. 3 From 24.02.2009 … Continue Reading →

Income Tax

Finally CBDT Extended Due Date of Filing return upto 31-10-2015

October 1, 2015October 11, 2016 TaxIndiaUpdates In0 comments7230 views

After a one month continuing persuasion by whole of taxation fraternity finally CBDT Extended Due Date of Filing return upto 31-10-2015 vide its press release dated 01-10-2015. The Press release & Order u/s 119 are as under: Source: http://www.incometaxindia.gov.in/Pages/press-releases.aspx Government of India Ministry of Finance … Continue Reading →

Personal Finance

Public Provident Fund India

September 27, 2015February 1, 2017 TaxIndiaUpdates In0 comments6248 views

Public Provident Fund India The PPF is most popular income tax saving scheme after LIP in India. PPF offers an investment with assured returns combined with income tax benefits. The PPF scheme is governed by the Public Provident Fund Scheme 1968 and the Public Provident … Continue Reading →

Service Tax

Department should not follow Circular Contrary to Court Order

September 23, 2015September 25, 2015 TaxIndiaUpdates In0 comments6787 views

. CBEC vide its circular dated 21st September 2015 clarified that circular and instructions which are contrary to the judgments of Hon’ble Supreme Court become non-est in law and should not be followed. In this regard board has mention the ruling of judgment of Hon’ble … Continue Reading →

Personal Finance

Sovereign Gold Bonds Scheme issued by MOF

September 17, 2015September 19, 2015 TaxIndiaUpdates In0 comments4840 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 comments5228 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 comments15105 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 comments7145 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 comments6958 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 →