201705.13
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Exemption to Quote Aadhaar

Central Government notifies list of individuals who are exempted from quoting Aadhaar number or enrolment ID. 1. An individual who is residing in the state of Assam, Jammu & Kashmir and Meghalaya 2. An individual who is non resident as per Income Tax Act, 1961 3. An individual of the age of 80 years or…

201704.13
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Are you paying rent to Close Relative for HRA ?

Are you paying rent to family member for HRA Exemption? Given that the options available for salaried class assessee to save tax are very limited, many of them try to take full advantage of various exemptions available under Income Tax Act, out of those one of them is HRA which is mostly used by all the employees….

201601.29
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DVAT Q3 Return Due Date Extended

Commissioner of Delhi Value Added Tax vide Circular 36 of 20145-16 dated 28-01-2016 in exercise of the powers conferred under Delhi Value Added Tax Act 2004 read with applicable rules do hereby extend the last date of filling of online/hard copy of third quarter return for the year 2015-16, in Form DVAT-16, DVAT-17 and DVAT-48…

201504.17
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CBDT notifies ITR Forms

CBDT has vide Notification No. 41/2015 Dated 15.04.2015 notified Form ITR-1, ITR-2 and ITR-4S for Assessment Year 2015-16 i.e Financial Year 2014-15. The Notification also made Several Change in Rule 12 of Income Tax Rules, 1962 which is related to Condition of Filing of Income Tax Return.  A brief summary of Changes is as follows…

201504.14
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Company can apply PAN/TAN with INC – 7

CBDT through Notification No 38/2015 dated 10th April 2015 (S.O. 995(E)) allowed Companies which has not been registered under the Companies Act to apply for PAN or TAN alongwith the application for incorporation of Company under Companies Act 2013 i.e. Form INC – 7. The new Form INC – 7 will be available on MCA…

201407.10
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Budget Highlights 2014

DIRECT TAXES 1. No change in Direct Tax rates 2. Income Tax Basic exemption limit for senior citizen individuals increased to Rs. 3 Lacs and for others Rs 2.5 Lacs 3. Education Cess to continue at 3% 4. Housing interest deduction for self occupied property increased to Rs 2 Lacs 5. Deduction limit under section…

201407.02
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EPFO launches Online Registration facility for Employers

Employers will now be able to register online with the Employees’ Provident Fund Organisation (EPFO) and get the PF code within one day. Labour Minister Narendra Singh Tomar launched the online registration system on Monday. “Earlier, it used to take 20-25 days to get the registration done, but through this service, a firm can now…

201407.02
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Haryana VAT – WCT Rate

Please be informed that pursuant to the recent cabinet approvals by the Haryana State Government, the State Government has increased the WCT rate from 4% to 5% pursuant to section 24 of Haryana VAT Act, 2003

201407.02
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UP VAT

The Uttar Pradesh (UP) Government vide Section 21 of The Uttar Pradesh Value Added Tax Act 2008 and Rule 42 thereof has already recognized Cost Accountants and Company Secretaries for the purpose of Auditing of Books of every taxable dealers under the Act. Now The UP  Government has issued an amendment to Rules vide Government Notification…

201407.02
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Due Date of DPT – 4 Extended

Ministry of Corporate Affairs has vide General Circular No 27/2014 dated 30-06-2014 extended the due date for filing of Form DPT – 4 with Registrar of Companies in respect of deposits standing on 01.04.2014 i.e. the date of commencement of Companies Act 2013 from 30.06.2014 to 31.08.2014 without any additional fees.