INDIAN TAXATION NEWS

[...] for the country Government of India, has kept the educational services out of the tax net of service tax. However, it is very important that we shall know the scope of “educational services” as [...]

[...] tax act 1961 and are providing only specific charitable activities are exempted from paying service tax. Specific charitable activities are (i)  Public health by way of - (a) care or counseling of [...]

[...] work of repair, maintenance, installations etc shall know the extent of their liability of pay service tax. As per the provisions of service tax, the following two kind of services are related to [...]

[...] Decision for implementation of Goods and service tax (GST), a major tax reform for the country, is still pending.GST is a tax on manufacture, sale [...]

[...] mandatory for every person to deduct tax then and there only while making any payment to a non resident. As per section 195 of income tax act – any person, resident or non resident, other than a [...]

[...] Non resident Indians often maintain a bank account in India to keep the money they earn in India or to [...]

[...] Any person may end up paying interest on income tax to the department in case of certain defaults. Section 234A, 234B and 234C of income tax act [...]

[...] Gains-  Any profit on transfer of a capital asset like land, building, shares, goodwill etc.  Income tax act defines certain assets that does not come in the category of capital asset, so profit on [...]

The much awaited Union budget 2014 revealed today with Increase in 80C investment limit from 1 lakh to 1.5 lakh. Increase in exemption limit for ind [...]

[...] Charitable services in India gets some exemptions under income tax act, however the extent of such exemption is narrower in service tax. There are many charitable [...]

[...] order to keep the cost of education low for the country Government of India, has kept the educational services out of the tax net of service tax. However, it is very important that we shall know the [...]

[...] It is always prudent to minimize your tax burdens using tax planning instruments. Income tax act itself provides us with these options, which can be used to reduce our total taxable income [...]

[...] Gains-  Any profit on transfer of a capital asset like land, building, shares, goodwill etc.  Income tax act defines certain assets that does not come in the category of capital asset, so profit on [...]

[...] Charitable services in India gets some exemptions under income tax act, however the extent of such exemption is narrower in service tax. There are many charitable [...]

[...] tax then and there only while making any payment to a non resident. As per section 195 of income tax act – any person, resident or non resident, other than a company shall deduct tax at specified [...]

[...] discharge all of his tax liabilities on time. Dodging tax illegally and through unfair means is tax evasion. Tax evasion is a crime and that is why government has imposed several prosecutions and [...]

[...] specified in this act in order to determine whether any service related to education or educational institution is taxable or not. It should be clear that only educational services provided by an [...]

[...] issues, National saving certificate (NSC) etc. - Tuition fees – paid to some educational institution in India for any two children. -  Housing loan- Payment or repayment for purchase [...]

[...] As per the Union Budget 2014 speech of our Finance Minister Mr. Arun Jaitly, the annual Ceiling for Public Provident [...]

changes in excise duties after budget 2014 revealed - increase in excise duty on tobacco products - increase in excise duty on aerated water product [...]

In order to broaden the tax base, negative list of services which keeps certain services out of the purview of service tax, has been reviewed. [...]

[...] Finance minister   Mr. Arun Jaitley said in Union Budget 2014 that introduction of goods and service tax (GST) will be considered this year. This [...]

[...] Permanent account number (PAN) is a unique ten digit alpha numeric number issued by income tax department of India to persons who apply for it or sometimes allotted by an assessing officer on his [...]

[...] documentation of “ transfer pricing” an important requirement . It is tool in the hand of income tax department to ensure that an organization is not transferring its profit to another associated [...]

[...] activity for students or faculty, any service which is ordinarily carried out by an educational institute  themselves but may outsourced from any person including admissions, conducting [...]