CAclubindia Articles

Income Tax Practical Procedures in FAQ Style

Saurabh Maheshwari 06 March 2013 at 12:29

Introduction: Income Tax has always been a challenge not only for students, professionals or for Department but also for tribunals and courts. The reason may be the vastness and depth of the provisions of law which makes it sometimes complicated.

Interest: A Comparative Analysis

Souvik Kumar Ghosh 06 March 2013 at 12:29

Law under Service Tax: Services are being taxed under the Negative List approach w.e.f. 01.07.2012. The Negative List, incorporated under Sec-66D of the Finance Act, contains a list of services which are not liable for service tax. Services by wa

Budget- Is there any relief?

MudraMantri 06 March 2013 at 12:29

Goofy, a 24 year old techie, in Bangalore was worried to the core. He was constantly scrolling the TV channels to find out if there is any relief for a salaried class like him. But alas, there is nothing. The only thing that matters to him and

Place of provision of Service Rules, 2012 (PPS Rules)

ankush 06 March 2013 at 12:08

Background Section 66B of Finance Act, 1994 levies service tax on value of all services provided or agreed to be provided in the taxable territory by one person to another. Section 66C grants powers to the Central Government to frame rules to

Judgments Overruled by Finance Bill 2013

Rupesh Srivastava 05 March 2013 at 13:47

Finance Bill 2013 may overrule Following Court decision. 1. Proposed Amendment in Application of seized assets under section 132B The existing provisions contained in section 132B of the Income-tax Act, inter alia, provide that seized assets may be

Budget 2013-14- Nothing to cheer

Mahesh Kapasi 05 March 2013 at 13:47

There is nothing to cheer in Union Budget 2013-13. A routine affair with elections in mind is the effort by our Honourable Finance Minister Mr. P. Chidambaram, who is tough Finance Minister he has tried to show growth of economy-to win electi

Critical reasoning of Notification no.03/2013 ST dated 01.03.2013

Pradeep Jain 04 March 2013 at 12:08

Introduction:- In previous budget, service tax law was shifted to negative list regime. Mega exemption notification no. 25/2012-ST dated 20.6.2012 was issued to prescribe the lis

Open Letter to FM- Budget 2013

Madhukar N Hiregange 04 March 2013 at 12:03

3rd March 2013. Dear FM Shri. P. Chidambaram, First of all thanks for your listening while taking the comments on the budget from all. We all understand that over a period of years there are some ills which have accumulated. However instead of voici

Service Tax on Restaurant

Pradeep Jain 04 March 2013 at 11:30

SERVICE TAX ON RESTAURANT: A SMALL AMENDMENT MAKES A BROADER SCOPE OF SERVICE TAX Introduction:- Under negative list regime, the service tax was introduced on restaurants, eating joints and mess which have licence to serve the liquor and fac

Basic Exemption/Rebate under Income Tax - Budget 2013 FAQ's

Manoj Agarwal 03 March 2013 at 15:40

Income Tax Credit/REBATE of Rs. 2,000 - Detailed Analysis / FAQs Frequently Asked Questions (FAQs) Q1. Whether basic exemption limit for Individuals, HUFs, AOP & BOI under the Income Tax Act, 1961 has been raised