In the Budget-2012-13 under the new Reverse Charge Mechanism in certain services the recipient of the service has been made liable to pay tax instead of service provider. In three of services namely hiring of means of transport, construction and
Nothing doing! Now no agent can fool me saying that endowment plans or ULIPs are good. I have understood that only term plan is the best form of risk cover. I am going to buy a term plan online. Said Niraj, a 29 year old IT profess
In works contract service lump sum scheme for payment of service tax in a works contract has been introduced by amendment in Rule 2A of the Service Tax (Determination of Value) Rules, 2006 vide Notification No. 11/2012 - Service Tax dated 17-03
ARE DIRECTORS LIABLE TO SERVICE TAX AND TAX AUDIT AS PER UNION BUDGET 2012-13 ? Till the date of budget, there is always confusion on treatment of directors remuneration. There is conflict about whether it is salary income or it is a bu
Hello Friends, As per my personal understanding for a long and strong professional career the foundation of your study should be very strong. I can say this because of my in-depth study of Institute Study Material. Dangerous Reality: Somewhere
Consideration in excess of F.M.V of shares to be treated as income from other source if consideration received is in excess of Face Value of shares: It is proposed to insert a new clause (viib) in the aforesaid sub-section so as to provide that w
The Budget of FY12-13 dropped a tax bombshell by introducing a retrospective change in law from 1962, directed at Vodafone and other simillar cases. While my esteemed seniors will doubtless analyze or litigate this change in law, I thought it fit to
"Convenience Tax? When was this tax imposed? Government has no other business than to impose new taxes everyday?" might be a normal reaction after reading the title. Well, the good news is, this tax is not really levied by the Go
Changes have been brought in Rule 7 of Cenvat Credit Rules, 2004 vide Notification No. 18/2012-CE (NT) dated 17.03.2012
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LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(without recording)
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