Apr 30, 2015

Excise rebate of duty on goods cleared from DTA to SEZ

Central Excise department issued a clarification on rebate on duty on goods cleared from DTA to SEZ. Central excise department issued a ci...

Apr 27, 2015

TRACES advice on closure of short payment TDS defaults

As per the records of Centralized Processing Cell (TDS), there are outstanding Short Payment Defaults exceeding Rs. 1 Crore, with respect ...

TRACES communication on inappropriate use of digital signature for TRACES service

As per the records of Centralized Processing Cell (TDS), it has been observed that Online Corrections have been submitted by you on TRACES...

Apr 25, 2015

Highlights of Pradhan Mantri Jeewan Jyoti Bima Yojana

The Finance Minister Mr. Arun Jaitley purposed ttwo main social security schemes in insurance sector. These scheme announced as under. ...

Highlights of Pradhan Mantri Suraksha Bima Yojana

The Finance Minister announced two major social security scheme in his budget speech. They are Pradhan Mantri Suraksha Bima Yojana Pradh...

Apr 24, 2015

No TDS on premature PPF withdraw

While the Modi government is allaying perceptions of tax terrorism among foreign investors and projecting a pro-poor stand to counter oppo...

No TDS deduction whose income is exempt u/s 10(26BBB)

CBDT issued a circular no. 7 dated 23 April 2015 about Requirement of tax deduction at source in case of corporations whose income is exem...

Apr 23, 2015

Latest FVU version 4.6 e-TDS software free download

Tin.nsdl has issued latest file validation utility FVU version 4.6 e-tds software. This fvu version 4.6 is applicable with effect from 21 ...

Latest RPU version 4.3 for E-TDS statement free download

Tin.nsdl has launched latest return preparation utility RPU version 4.3 for e-tds statement. This is the latest RPU version issued on 22 A...

Salient changes in DFIA and EPCG scheme in foreign trade policy

Ministry of finance issued a circular no. 14/2015 dated 20 April 2015 about Foreign Trade Policy 2015 - 2020 –Salient changes in Schemes o...

Apr 18, 2015

You need to mention all bank account and foreign travel in new IT return form

Widening its net to check generation of black money, the Income Tax department has introduced significant changes in the income tax return...

Apr 17, 2015

Income tax return form ITR-1 SAHAJ, ITR 2, ITR 4S SUGAM and ITR V for AY 2015-16

The income tax department notified income tax return form for the analysis year 2015-16. Income tax department issued ITR-1 SAHAJ, ITR-2, ...

Apr 16, 2015

E-filing of return mandatory for individuals and HUF claiming tax refunds and earning overseas income

 CBDT made it mandatory e-filing of return of income for individuals and HUF who claim tax refund . Moreover the ordinary residents earnin...

Fixed deposit below 15 lakhs must have pre mature facility

Reserve bank of India issued a instruction to all banks that any deposit below 15 Lakhs must have pre-mature facility with which the depos...

Apr 15, 2015

Income tax exemption on Transport allowance to employees is doubled from 1-4-15

Income tax department doubled Transport Allowance granted to an employee to meet his expenditure for the purpose of commuting between the ...

No TDS on additional payment due to forex currency change if TDS is deducted at credit of payment

Provisions of section 195 provide that once tax is deducted at source at the time of credit of payment, there can be no question of deduct...

Apr 14, 2015

New company can apply PAN/TAN with form INC-7- No other form required

The income tax department issued a notification no. 38/2015 dated 10 April 2015 making fifth amendment rules. Now a company which is not r...

Apr 11, 2015

How to claim 4% SAD refund

Custom department issued a circular no. 12/2015 dated 9 April 2015 about instruction on 4% refund claim of SAD. Full circular is as under....

Apr 10, 2015

Capital gain in mutual fund under fixed maturity plan on extension term

CBDT issued a circular no. 6 dated 9 April 2015 about capital gain in respect of unit of mutual fund Funds under the Fixed Maturity Plans ...