CAclubindia Articles

Income Tax Practical Procedures in FAQ Style

Posted by Saurabh Maheshwari 06 March 2013 40207 Views

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.

Union Budget at glance Direct and Indirect

Posted by CA.Hanumantha Reddy 06 March 2013 21837 Views

Budget at glance for financial year 2013-2014 DIRECT TAXES Corporate tax rates remain unchanged Surcharge Domestic companies: Surcharge has been increased to 10% from 5% if the total income exce

Budget 2013-14- Nothing to cheer

Posted by Mahesh Kapasi 05 March 2013 8940 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

Judgments Overruled by Finance Bill 2013

Posted by Rupesh Srivastava 05 March 2013 15945 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

Open Letter to FM- Budget 2013

Posted by Madhukar N Hiregange 04 March 2013 11163 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 33886 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

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

Posted by Pradeep Jain 04 March 2013 31078 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

FAQ - Deduction for Interest on education Loan

Posted by @VaibhavJ 03 March 2013 15836 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

Union Budget 2013 - Changes

Posted by Manoj Pala 02 March 2013 17298 Views

The Honble Finance Minister Mr.P.Chidambaram has presented Union Budget 2013 in both the houses of Parliament on 28th February, 2013 at 11 Hrs sharp. There is no change in the rate of duties and accordingly the rates of Excise T

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

Posted by Manoj Agarwal 03 March 2013 147034 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