PAN is compulsory for some specified transactions The Government in its commitment to curb the circulation of black money and widening of tax base has made quoting of PAN compulsory for specified transactions.. To collect information of certain types of transactions from third parties in a non-intrusive manner, the Income-tax Rules require quoting of Permanent […]
How Tax Helps Us in Our Daily Life? Taxes help the government in earning an income which is used in a lot of projects that will also help the government in developing the economy for its country and for its people.In India, the taxes are decided by the central government and the state governments along […]
Due date for furnishing 15G/15H declarations CBDT has vide Notification No 1/2016 Dated: 09th June, 2016 notified due date for furnishing 15G/15H declarations for the period from 10.10.2015 to 31.03.2016 and for the period starting from 01.04.2016.
CONCEPT ON GOODS AND SERVICE TAX (GST) GST Bill Officially known as the Constitution Bill 2014. GST is a significant step in reform of indirect taxation in India. GST is a comprehensive indirect tax leviable on manufacturing, sale and consumption of goods and services in India.
REFUND OF TAX COLLECTED WITHOUT AUTHORITY OF LAW As postulated by Article 265 of the Constitution of India, a tax shall not be levied, except with the authority of law. A tax shall be valid only if it is relatable to statutory power emanating from a statute. Where the levy and collection of tax is […]