TaxIndiaUpdates In

Paperless Assessment Proceedings CBDT (Income Tax Department)

October 20, 2015October 21, 2015 TaxIndiaUpdates In0 comments6990 views

. With the moto to support ‘Digital India’ campaign of Indian Prime Minister Sh. Narendra Modi, Central Board of Direct Taxes ( CBDT ) vide its instruction no. F. No. 225/267/2015-ITA-II Dated 19-10-2015 initiate the concept of using email for corresponding with taxpayers and sending through … Continue Reading →

Service Tax

No Service Tax on Money Transfer Service for the period 01-07-2012 to 13-10-2014

October 16, 2015 TaxIndiaUpdates In0 comments4127 views

. It is directed by Central Government vide Notification No. 19/2015-Service Tax dated 14-10-2015 that the service tax on the service provided by an Indian Bank or other entity acting as an agent to the Money Transfer Service Operator (MTSO) in relation to remittance of … Continue Reading →

Budget 2017

Union Budget 2016-17 : MOF ask Suggestions from the Industry and Trade Associations

October 13, 2015February 29, 2016 TaxIndiaUpdates In0 comments6210 views

Highlights of Union Budget 2016-17 UNION BUDGET WEBCAST 2016 Union Budget 2016-17 (Finance Bill) Ministry of Finance ask Suggestions from the Industry and Trade Associations for Union Budget 2016-17 regarding changes in direct and indirect taxes. The last date of submission of suggestion to Ministry of … Continue Reading →

Central Excise

Retail Packs of Edible Coconut Oil in Sizes of 200 ml or less cannot be classified as Hair Oil

October 13, 2015October 13, 2015 TaxIndiaUpdates In0 comments5747 views

. CBEC vide its Circular NO 1007/14/2015-CX, Dated: October 12, 2015 has clarified that in terms of following decisions by Hon’ble Tribunals/Courts that just because the retail packs of Edible Coconut Oil are in sizes of 200 ml or less, the same cannot be classified … Continue Reading →

Service Tax

CBEC : Ancillary Services of GTA are also part of GTA

October 5, 2015October 5, 2015 TaxIndiaUpdates In0 comments7196 views

. The CBEC vide its Circular No.186/5/2015-ST dated 05-10-2015 release a welcome clarification regarding classification of ancillary services provided in the course of GTA Service, eligible abatement on such ancillary services and classification of activities of GTA to reach/deliver the goods at destination within a … Continue Reading →

Central Excise

Settlement Commission cannot admit cases related to Smuggling of Goods

October 5, 2015October 5, 2015 TaxIndiaUpdates In0 comments4919 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 comments8288 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 comments7300 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 comments6312 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 comments6896 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 →