Free supplies in works contract services Works contract service is a complex subject for discussion whether it may be for valuation of service in the contract price or for computing value added tax in the consideration. This complication manifolds while determining whether free supplies should form part of gross amount or not when there is […]
No disallowance u/s 43B for unpaid sales tax liability shown as contingent liability Citation of the Case-: DCIT vs. M/s. Escorts Construction Equipment Ltd. (ITAT Delhi), Income tax (Appeal) no.1860 of 2011, Date of Judgment: 16/10/2015 Brief of the Case ITAT Delhi held In the case of DCIT vs. M/s. Escorts Construction Equipment Ltd. that […]
How to Open NPS Account Online and Tax Benefits ? Guidelines for Online Registration NPS Trust welcomes you to ‘eNPS’ ,which will facilitate:- ➤ Opening of Individual Pension Account under NPS (only Tier I / Tier I & Tier II) ➤ Making initial and subsequent contribution to your Tier I as well as Tier II […]
Why Service Tax Returns Get Rejected after filing – Reasons Some Service Tax returns gets rejected after uploading of the XML file for the ST3 return, mainly due to the following reasons:- 1. Incorrect selection of return type – whether it is ?Original? or ?Revised? return. 2. When the Financial Year and the Period of […]
Tips to improve your CIBIL score Your CIBIL score is a three digit number, in the range 300-900. In today’s date this number has assumed immense significance with banks unwilling to lend to anyone who does not have a score above 750. It is a good financial practice for you to make a constant effort […]