27 June 2012
PLEASE GIVE ME UPDATE ABOUT SERVICE TAX PAYMENT FOR PVT LTD COMPANIES AND PARTNERSHIP FIRM AND ALSO WHEN TO EFILE RETURN FOR PVT LTD COMPANIES AND PARTNERHIP FIRM
28 June 2012
The basic exemption limit is 10 lacs for firms and pvt ltd companies. From 01.07.2012 onwards, if their services are not appearing in the negative list, they have to pay 12.36% after deducting the abatement eligible if any. At present half yearly E-return in ST3 is to be filed. In future monthly return is prescribed for assessees(companies) with a tax payment of above 25 lacs in a year.
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