CAclubindia Articles

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

Posted by ankush 06 March 2013 38450 Views

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

Posted by Rupesh Srivastava 05 March 2013 15912 Views

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

Posted by Mahesh Kapasi 05 March 2013 8904 Views

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

Posted by Pradeep Jain 04 March 2013 31046 Views

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

Posted by Madhukar N Hiregange 04 March 2013 11132 Views

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

Posted by Pradeep Jain 04 March 2013 33857 Views

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

Posted by Manoj Agarwal 03 March 2013 147002 Views

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

FAQ - Deduction for Interest on education Loan

Posted by @VaibhavJ 03 March 2013 15803 Views

Q. Who is eligible for deduction us/ 80E? A. Education loan should be taken by Individual (not to HUF or other type of Assessee ) Q. Is loan taken in name of any family member is eligible fo

Fraud Risk Mitigation Process in Organizations.

Posted by Dr. Rashid Mehmood, CPA, Ph.D 03 March 2013 11550 Views

The fraud is a growing issue in all types of industries, business, cultures and management, a study report published by Metricstream Inc unveiled that a typical organization loses its 5% of revenue each year because of the fraud and fraudulent act

Budget 2013 Direct Taxes Highlights

Posted by CA. VIKAS RAI 03 March 2013 23366 Views

PROVISIONS RELATING TO DIRECT TAXES- 1. No Change in slab rates & Super Rich Tax postponed - There no change in slabs, but the Individual & HUF whose income is upto 5 Lacs get a Tax credit of Rs.2,000/-. Effectively slab is increased for t