Here is a small attempt to quickly focus on few important point regarding IPCC and CA Final exams. This is not about what to study, how to study and from where to study. There is not time for that, whatever I’m writing is all about writing exam papers. If it’s not your attempt or you […]
Presumptive Taxation U/S 44AD Simplified Businesses have been grown over the period of time due to general growth of the economy and varied other reasons. But at the same time various numbers of business and service providers, irrespective of their area of operations, earning substantial income are outside the tax net as Presumptive Taxation.
SERVICE TAX ON RESTAURANTS AND HOTELS – LEGISLATIVE COMPETENCE The Finance Act,2011 has inserted sub clause (zzzzv) and (zzzzw) to section 65(105) of the Finance Act,1994 thereby imposed service tax on restaurant services and short term accommodation services provided in hotels with effect from May 1, 2011. The scope of the services are defined as […]
The 7 Laws of Clearing CA Exams First thing first. I am overwhelmed with the kind of response my previous article The 7 Laws of Clearing CA Exams. Almost 10,000 view and more than 100 comments. Wow! Thank you friends for appreciating my effort. When I wrote the previous article it was around about the […]
Capital Gain Tax Simplified Chargeability u/s 45 Profits or gains arising from the transfer of a capital asset is chargeable to tax in the year in which transfer take place under the head “Capital Gains”. Definitions Transfer: Sec. 2(47): Transfer in relation to a capital asset includes sale, Exchange, or relinquishment of the asset or extinguishment […]
Clarification regarding Restaurant Service Services provided by specified Restaurant Service in other areas of the hotel are liable to service tax.Under Service Tax Act. Circular No.173/8/2013 – ST F.No.334/3/2013-TRU Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs Tax Research Unit North Block New Delhi, 7th October, 2013 To […]
CIRCULAR NO : 08 /2013 F.No. 275/192/2013-IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ….. New Delhi, dated the 10th October, 2013 SUBJECT: INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2013-14 UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961. Reference is invited to Circular No.08/2012 dated 05.10.2012 whereby […]