Central Board of Direct Taxes (CBDT) has issued a Booklet on Permanent Account Number (PAN) to answer all the queries relating to PAN-particularly question on procedures for PAN application, documents required for PAN application and transaction for which quoting of PAN is mandatory etc.
Income Tax Refund - Section 237 of the Income-Tax Act, specifies that if any person satisfies the Assessing Officer that the amount of tax paid by him or on his behalf, or treated as paid by him or no his behalf for any assessment year exceeds the amount with which he is properly chargeable under this Act for that year, he shall be entitled to a refund of the excess amount paid.
Apart from your income, your credit worthiness is the single most important tool considered by Loan providers while evaluating your application for any type of loan. Thus, it becomes utmost important to understand how does your Credit Information Report (CIBIL – Credit Information Bureau India Limited) works and how to improve a bad credit history to increase your credit worthiness. It is generally accepted that a credit score more than 730 is good and educes assurance and trust from banks.
As per Section 234E where a person fails to deliver or cause to be delivered a statement within the time prescribed in sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C, he shall be liable to pay, by way of fee, a sum of two hundred rupees for every day during which the failure continues.
Serial no. 12 of Notification No.26/2012 as applicable w.e.f. 08.05.2013 stating that limits lower service tax to only to those houses that costs under Rs.1 crore and have carpet area less than 2000 square feet.
Delay in re-presentation of technical return cheques and levy of charges for such returns
As you are aware, banks are expected to indicate the timeline for realisation of local/outstation cheques in their Cheque Collection policy(CCP) and charges for cheque returns to be levied in an upfront manner with due prior notice to the customers as enumerated in RBI circulars no. DPSS.CO. (CHD) No. 873 / 03.09.01 / 2008-09 dated November 24, 2008 and DBOD.No.Dir.BC. 56 /13.03.00/2006-2007 dated February 2, 2007 respectively.
The Finance Act, 2013 has provided “Amnesty Scheme for Non Filers and Stop Filers”
SERVICE TAX VOLUNTARY COMPLIANCE ENCOURAGEMENT SCHEME - CBEC CLARIFIES CERTAIN ISSUES – MERE PENDENCY OF LETTER SEEKING GENERAL INFORMATION NOT AN IMPEDIMENT TO PERSON SEEKING THIS SCHEME
CIRCULAR NO. 169/4/2013-ST [F.NO.B1/19/2013-TRU], DATED 13-5-2013
File e-TDS return(24q,26q,27q) for 4th quarter for Financial year 2012-13 by 15th May,2013 to avoid penalties
The fourth quarter of financial year 2012-13 has come to an end .Therefore, it is the time for all corporate and government deductors to file their eTDS returns.The last date to file the returns for fourth quarter of F.Y. 2012-13 is 15th May 2013.If you miss the date then you have to pay heavy penalty and have to a fees for late filing also.
Construction of a complex, building, civil structure or a part thereof, intended for a sale to a buyer, wholly or partly (except where entire consideration is received after issuance of completion certificate by the completion certificate by the competent authority) [hereinafter referred as “developer’s services] was subject to service tax @3.09% (i.e. 12.36% minus 75% abatement).
tax 'N' accounts people
Tarun Kumar Gupta
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