Section 80D of the Income-Tax Act, talks about the deduction in respect of premium pad towards a health insurance policy for self, spouse, dependent children and parent.
A new and unique virus has been identified to be “spreading widely” in the Indian cyber space which often sensibly steals bank account data in addition to passwords associated with the customer after it is visited.
Branch Manager, UCO Bank Vs. ACIT (ITAT Cuttack)The Assessing Officer imposed penalty under section 272A(2)(k) for delay in filing the TDS return under section 200(3). The assessee’s argument that the delay was due to a shortage of staff was rejected on the ground that the same was not reasonable cause. The CIT(A) confirmed the penalty.
Remote Aadhaar Seeding Framework (RASF)To avail benefits of Direct Case Subsidy for LPG-Oil or for pension and other government schemes, there is no need to submit your aadhar card number with any office, shop or gas station. You can do this while sitting at your home with the help of UID website http://www.rasf.uidai.gov.in. Let’s see how to use the site.
Recent Provisions of Service Tax on Goods Transport Agency [Section 65B(26)]Goods transport Agency has been defined as any person
In the last few months, several taxpayers have received similarly worded notices from the I-T Department. As per the I-T Department, in these cases, the current refund claims were adjusted against tax that these assessees owe the department.
Download revised income tax calculator for financial year 2013-14.
The Last date for filing Service Tax Return form ST-3 for Half yearly Oct'12 to Mar'13 has been further extended from 25th April, 2013 to 31st August, 2013. The Form for filing the return is expected to available by 31st July, 2013. The Notification is available hereunder:-
SECTION 203 OF THE INCOME-TAX ACT, 1961, READ WITH RULE 31 OF THE INCOME-TAX RULES, 1962 - DEDUCTION AT SOURCE - CERTIFICATE FOR TAX DEDUCTED - ISSUANCE OF CERTIFICATE FOR TAX DEDUCTED AT SOURCE IN FORM NO.16
CIRCULAR NO. 4/2013 [F.NO.275/34/2011-IT(B)], DATED 17-4-2013
AN advocate practicing Income Tax is before the Delhi High Court seeking a direction to the Income Tax Department to supply the copy of the Central Board of Direct Taxes (in short CBDT) circular/ instruction dated 19.06.2009. The information sought under the RTI Act from the Department was refused and the advocate did not succeed in his appeals till the CIC.
Punjab Government has notified the proposed changes in rate of VAT on certain items as proposed in the Punjab Budget 2013-14. These changes are as under:-
last date for efiling vat15 return q4 fy12-13 extended to 9th may, 2013. no change in date of submission of tax
Last date for submission of VAT-15 return for quarter ended 31st March, 2013 has been extended from 30th April, 2013 to 9th May, 2013. There is no change in date of submission of Tax. So tax has to be deposited by 20th April, 2013 by cheque and 30th April, 2013 by cash. The Public notice is reproduced below.
An HUF is automatically constituted with the marriage of a person. No formal action is required to create an HUF. The HUF being the result of birth, possession of joint property is only an appendage of the HUF and is not necessary for its constitution. So, one person cannot form an HUF.
a step ahead - book released by income tax department gujarat on controversial issues in framing assessment
The genesis of this book is an exercise carried out to compile best quality assessment orders passed in each Chief C.I.T region of Gujarat during the Financial Year 2011-12.
Gold, crude oil and a wide spectrum of materials from aluminium to zinc tumbled as weak data from China reinforced the gloomy global demand outlook, bringing good news for Indians, who relish buying precious metals and will spend less on petrol and cooking oil.
CBDT has vide Notification No. 3/2013, dated 15-1-2013 introduced ‘Centralised Processing of Statements of Tax Deducted at Source Scheme, 2013′ for centralised processing of statements of tax deducted at source. Vide clause 7 of the notification CBDT has specified that an adjustment of refunds against outstanding tax demand can be done u/s 245 of the Act only after issuing prior intimation to the taxpayer.
Below chart shows the rate of abatement under various services applicable under Service Tax Act.
SERVICE TAX RETURN FOR THE PERIOD JUL'12 TO SEP'12 DUE DATE EXTENDED FROM 15.APR.2013 TO 30.APR.2013
Service tax return due date for the return period July, 2012 to September, 2012 again extended. Now the new last date for efiling the service tax return for that period is 30th, April, 2013. Below is the Order 02/2013
Whether when assessee fails to e-file TDS return for lack of verified PAN numbers although TDS deducted was deposited in time, such delay doesn't warrants Penalty of Rs. 100/= per day.
CUTTACK, APRIL 10, 2013: THE issue before the bench is - Whether when assessee fails to e-file TDS return for lack of verified PAN numbers although TDS deducted was deposited in time, such delay warrants penalty u/s 272(2)(k). And the verdict goes in favour of assessee.
Buying motor vehicles, including car and bikes from other states, including UT Chandigarh will cost more for Punjab-based buyers, as the state government has levied entry tax on vehicles bought from other states and Union Territories (UT).
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