Union Budget 2013-14 – Income Tax & Service tax Highlights The recently appointed Finance Minister of India, Mr. P. Chidambaram, handed with the task to give an upward thrust to the ailing Indian economy, delivered the Union Budget 2013-2014 – his first in the second consecutive term of the UPA Government, on the 28th February 2013, and thereafter...  |
| Budget 2013-14 – Analysis of Income Tax Provisions 1. Personal Income Tax: Minor relief of Rs. 2000 Slabs of taxation not revised Ad-hoc Relief of Rs. 2000 for Tax Payers in the first bracket of Rs. 2 lakhs to Rs. 5 lakhs. Relief available to Individuals having total income upto Rs. 5 lacs. Let's Party of these Rs. 2000…J 2. Personal Income...  |
| Service Tax Voluntary Compliance Encouragement Scheme, 2013 – FAQ Scheme to whom it is applicable? The person who has not paid the tax dues. Tax Dues means the service tax due or payable under the Chapter or any other amount due or payable under Section 73 A thereof for the period beginning from 1st day of October 2007 to 31st December 2012 including a CESS,...  |
| E-version of Service tax Return to be available by 1st week of March, 13 The revised Form ST-3 is expected to be available on ACES by the first week of March. However in the event of any delay, the last date will be suitably extended and adequate time given so that no inconvenience is caused to the assessees.  |
| Submit Articles on budget 2013-14 by E-Mail for Publication We would like to invite Article / Analysis on on Budget 2012-13 from Accounting, Tax, Finance and Legal professionals on taxation, Accounting, Finance, Audit and Corporate law. Article will be Published with details of the Author which they send with the Article. For Publication of Your Article on...  |
| Calculation of Service Tax under reverse charge mechanisms if TDS u/s 195 of Income Tax Act Associated with it It is one of the emerging challenges for the Entities availing service through import of services to calculate actual amount of Service Tax under reverse charge mechanism of Finance Act and also to calculate the amount of TDS to be deposited under section 195 of Income tax Act, 1961. Due to...  |
| INDIA's growth story? In the recent past, there is much talk among the business people, media and also society about India's growth story, consequences of slow-growth rate, ways to improve the growth and taking the growth rates again to more than 8%. Growth can certainly create employment opportunities needed and a...  |
