Service Tax on Restaurants and Hotels

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 […]

Capital Gain Tax Simplified

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

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 […]

Income-tax deduction from Salaries during the Financial Year 2013-14 under section 192 of the Income-tax act. 1961

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 […]

Delhi VAT Amnesty Scheme-Highlights

DELHI VAT COMPLIANCE ACHIEVEMENT SCHEME, 2013 (DCS)  HIGHLIGHTS  Abbreviations used: (i)  DSC (or) Scheme: Delhi Tax Compliance Achievement Scheme, 2013 (ii) DVAT Act: Delhi Value Added Tax Act, 2004 (iii) CST Act: Central Sales Tax Act, 1956 (iv) DST Act: Delhi Sales Tax Act, 1975 (v) WCT Act: Delhi Sales Tax on Works Contract Act, 1999 (vi) RTU Act: Delhi Sales Tax on Right to Use Goods Act, […]