Sep 29, 2012

No service tax on railway tickets booked before 1 October

Recently service tax is levied on railway tickets for AC and First class. Service tax department made a clarification that the tickets book...

Income tax office will remain open on 29 and 30 September

Due to heavy rush of income tax returns, income tax offices will remain open on 29 September and 30 September. This is neccessary as the la...

Sep 28, 2012

Extra 3% interest subvention scheme for short time crop

Reserve bank of India has notified the union budget interest subvention scheme for farmers. In this regard there was 2% interest subvention...

Sep 27, 2012

Service tax will be charged on railway AC and first class passengers

Service tax department has levied service tax on AC class and first class railway passengers. Service tax will be applicable on railway AC ...

Service tax on transportation of goods by rail

Service tax department levied service tax on transportation of goods by rail. Service tax will be applicable on transportation of goods fro...

Custom exempt of bank guarantee for storing sensitive goods in private wearhouse

Custom department has granted the exemption from furnishing security or bank guarantee by central or state undertaking for storing sensitiv...

Sep 26, 2012

Gratuity Calculator and Calculation of Exemptions from Tax

Gratuity   is the payment  made for the past services of the   employee by the employer. Calculation of gratuity is very easy , however m...

Sep 25, 2012

New file validation utility FVU 3.6 version for e-tds/tcs

Tin. nsdl has released new file validation utility version 3.6 fopr e-tds and e-tcs. This FVU version 3.6 is different from other version ...

New return preparation utility RPU version 3.1 for e-tds

Tin.nsdl has released new return preparation utility RPU version 3.1 for e-tds/tcs. Return preparation utility is used for preparing regul...

Sep 24, 2012

Dearness allowance 7% hiked to central government employees

Cabinet has approved 7% hike in dearness allowance DA for central government employees and central government pensioners. This hike is effe...

Import of gold and diamond in any form including jewellery

Reserve bank of India made some soft rules for the letter of credit for importing of gold and precious metal in any form including jeweller...

Sep 23, 2012

Now Rajiv Gandhi Equity Scheme REGSS foe retail investors

Cabinet has approved Rajiv Gandhi equity saving scheme for first time retail investors. This will is basically a income tax saving scheme f...

Sep 21, 2012

Long term infrastructure bonds approval and rate of interest

Income tax department has notified the approval of loans and long term infrastructure bonds and rate of interest on these loans and bonds. ...