Compulsory scrutiny conditions of Income Tax Returns As Soon as we filed a Income Tax Return to the income tax authorities under section 139 of IT Act,1961 it has to be assessed as correct .The assessment includes verification and scrutiny of income declared by us.but this process not done by income tax authorities in all […]
Tips for Filing Income Tax Returns Easily Income Tax Returns is one of the document which should be filed by the person with due attention . It should be error less,signed and verified by the person authorized to do so under the provisions of the Income-tax Act. The following are the important points.
Revised Rate of Interest in Service Tax Vide Notification No 12/2014-ST dated 11.7.2014, rate of interest to be charged on delayed payment of service tax has been enhanced w.e.f. 1.10.2014, based on period of delay. Thus, longer the delay period , higher would be the rate of interest payable. Accordingly, the rate of interest shall […]
Analysis of Changes in Service Tax in Union Budget 2014 Government of India, Ministry of Finance, Department of revenue, Tax Research Unit D.O.F. No. 334/15/2014-TRU, Dated July 10, 2014. Sub.: Union Budget, 2014-15: Changes in Service Tax – reg. The hon‟ble Finance Minister has, while presenting the Union Budget 2014-15, introduced the Finance (No.2) Bill, […]
Disallowance under section 14A should not exceed tax on Exempt Income – ICAI ICAI Suggestion on Disallowance of expenditure incurred in relation to income not includible in total income under section 14A of the Act: As per the existing provisions of section 14A of the Act, no deduction shall be allowed in respect of expenditure […]