Mar 31, 2015

Credit card charges you must know

The lure of a credit card is hard to resist, especially when a sales representative from a bank or a retail outlet makes a convincing pitc...

Defected return can refiled u/s 139(4) upto 31 March 2015

Return for AY 2013-14 in certain cases where defect have been declared as invalid by CPC Bangaluru u/s 139(9) as the defect was not cured ...

Mar 28, 2015

Amendment in Section 80 IB unconstitutional- Gujarat HC

Amendment made in section 80-IB(9) by adding an Explanation was not clarificatory, declaratory, curative or made "small repair" ...

Mar 27, 2015

CBDT clarification on section 9 of income tax act

CBDT has issued a circular no. 4/2015 dated 26 March 2015  clarification regarding  Explanation 5 to clause (i) of sub-section (l)  of se...

Special clearing in banks on 30 and 31 March 2015

Special Clearing operations on March 30 and 31, 2015 A reference is invited to the circular issued by our Department of Government and...

Mar 26, 2015

New Return Preparation utility RPU version 1.0 in java platform

Tin.nsdl has launched latest RPU version 1.0 in java platform. Earlier RPU version 4.2 was the latest which have some problems of defaults...

Custom circular on Import of steel and steel products

Custom department issued a circular no. 8/2015 dated 24 March 2015 about import of steel and steel products. Full circular is as under. ...

Mar 24, 2015

Documents required for import and export from 1 April 2015

Directorate General of foreign trade department issued a notification no. 114 dated 12 March 2015 regarding documents required for import ...

Mar 23, 2015

Income tax closely scrutinise indian held foreign assets

The Income Tax department will carry out closer scrutiny of those tax statements wherein an assessee has disclosed that he or she holds ba...

Mar 19, 2015

TRACES drive for closure of short payment defaults

This is to inform you that Centralized Processing Cell (TDS) has initiated a special drive for closure of Short Payment Defaults in quarte...

Mar 18, 2015

Income tax 3rd amendment rules and form 3 CEDA

The Income tax department issued a notification no. 23/2015 dated 14 March 2015 about income tax 3rd amendment rules as well as new form 3...

Mar 11, 2015

RBI asks Banks to report on Sukanya Samriddhi Account

Reserve bank of India asks banks to report on Sukanya Samriddhi Account. RBI issued a note on 11 March 2015 about this issue. Full note is...

Bench of Supreme court will work all working days on tax matters

A bench has been constituted by the Hon'ble Supreme Court to deal exclusively with Tax matters on all working days which will be funct...

CIT notification on granting approval to religious or charitable trusts

In pursuance of the provisions contained in sub-clauses (iv) and (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961...

Mar 9, 2015

Service tax registration online from 1 March 2015

Service tax department makes registration to service tax easy as online registration is possible w.e.f 1 March 2015. Service tax departmen...

Mar 4, 2015

Advance tax calculator for financial year 2015-16

In union budget 2015, Finance Minister Mr. Arun Jaitley changes some income tax slabs as putting a surcharge of 12% on the income above R...

Mar 3, 2015

Proposed amendments in TDS/TCS rules in budget 2015

 The Finance Bill, 2015 proposes to rationalize the provisions of TDS and TCS under the IT Act. As such, the key proposals seek to bring p...

TDS fees u/s 234E may be demanded through intimation

 In order to facilitate smooth administration of tax collection, Chapter XVII-B of the Income-tax Act require certain persons to deduct ta...

TCS intimation to be deemed as demand notice

Current Provisions When any tax, interest, penalty, fine or any other sum is payable in consequence of any order passed under this Act, ...

Mar 2, 2015

Excise circular on recovery of arrears in installments and amendment of garnishee notice

Central excise department issued a circular no. 996/2015 dated 28 February 2015 about recovery of arrears in installments and amendments o...