Since July 2014, inflationary pressures (measured by changes in the consumer price index) have been easing. The path of inflation, while below the expected trajectory, has been consistent with the assessment of the balance of risks in the Reserve Bank’s bi-monthly monetary policy statements. To some extent, lower than expected inflation has been enabled by … Read more
Office of the Commissioner of Sales Tax, 8th floor, Vikrikar Bhavan, Mazgaon, Mumbai – 10. TRADE CIRCULAR No. DC (A&R) /VAT/ MMB-2015 / 1/ ADM-8 Mumbai, Date: 14 January 2015 Trade Cir. No. 2T of 2015 Sub. : Extension of time for filing VAT Audit Report in Form 704 for year 2013-14. Ref.: Trade Circular … Read more
Reserve Bank of IndiaForeign Exchange Department Central officeMumbai Notification No.FEMA.330/ 2014-RB Dated: December 15, 2014 Foreign Exchange Management (Transfer or issue of Security by a PersonResident outside India) (Seventeenth Amendment) Regulations, 2014 In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, … Read more
http://www.caresults.nic.in Arrangements have also been made for the students of Final Examination and Common Proficiency Test (CPT) desirous of having results on their e-mail addresses to register their requests at the above website, i.e., http://www.caresults.nic.in from 14th January, 2015. All those registering their requests will be provided their results through e-mail on the e-mail … Read more
GOVERNMENT OF INDIADEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES NEW DELHI INSTRUCTION NO 01/2015, Dated: January 13, 2015 Subject: – Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961 – reg. Sub-section (1D) of section 143 of the Income-tax Act, 1961 (‘Act’) provides that where a notice has been issued to a … Read more
Registering an Increase of 6.7% During April-December 2014 over the Corresponding Period in the Previous Year; Customs Collections Increase by 9.7 % While Service Tax Collections Increase by 8.7 % During the Same Period Indirect Tax Revenue (Provisional) collections have increased from Rs 3,54,049 crore in April-December 2013 to Rs. 3,77,648 crore during April-December 2014. Thus an increase … Read more
Computation of Income for an assessment Year …. Particulars Rs. Rs. Income From Salary Salary xxxxx Allowances received (taxable allowances) xxxxx Taxable value of perquisite xxxxx ===== Gross Salary xxxxx Less: Deduction under section 16 Professional Tax xxxxx Entertainment allowance Xxxxx ===== … Read more
The students who are preparing for Income tax studies is required to understand the basic concepts of the income tax act 1961. Some of definitions under income tax act are explained below in the simple language so student can understand it easily. Person – Section 2 (31) Term “person” is wide term in Income Tax … Read more
CIRCULAR CIR/MRD/DP/02/2015 January 12, 2015 All Stock Exchanges. Subject: Index based market-wide circuit breaker mechanism 2001 and CIR/MRD/DP/25/2013 dated September 03, 2013 advising stock exchanges to implement an index based market wide circuit breaker system to bring about a coordinated trading halt in all equity and equity derivative markets nationwide on 10%, 15% … Read more
The due date for filing income tax return is 31st July (for individual & HUF to whom tax audit is not applicable). However, some taxpayers failed to file Income tax return before the due date, now they can file belated return. But tax-payers can file belated returns for two financial years at a time. As per … Read more