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Tax--amendments

vipul jain (EFFORTS NEVER FAIL) (2894 Points)

26 August 2011

NOW ICAI---ICWAI---ICSI RESULTS ARE DECLARED....FIRSTLY CONGRATULATIONS FOR THOSE WHO HAVE CLEARED.......ALL THOSE WHO WERE NOT LUCKY THIS TIME CERTAINLY CONTINUE TO WORK TO PROVE YOURSELF......SO GO....GET UR GUNS AND SHOOT WITH IT CONFIDENCE THAT.....YES I WILL DO IT BETTER NEXT TIME......BEST OF LUCK FRIENDS....

SUCCESS IS NOT FINAL.....FAILURE IS NOT FATAL....IT IS COURAE TO CONTINUE THAT COUNTS.....

THIS POST IS VERY IMPORTANT FOR THE STUDENTS WHO WRITING EXAMS IN NOV/DEC 2011.....

SOME AMENDMENTS IN DIRECT TAX----INDIRECT TAX....

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vipul jain (EFFORTS NEVER FAIL) (2894 Points)
Replied 26 August 2011

INCOME-TAX UPDATE==>

NOTIFICATION NO. 85/2010 DATED 22-11-2010

INCREASE IN EXEMPTION LIMIT FOR ALLOWANCE GRANTED TO EMPLOYEES WORKING IN A TRANSPORT SYSTEM TO MEET THEIR PERSONAL EXPENDITURE DURING THE COURSE OF DUTY===>>>

THE MONTHLY LIMIT OF RS. 6,000 HAS BEEN INCREASED TO RS. 10,000 W.R.E. FORM 1st SEPTEMBER, 2008... THEREFORE, W.E.F. 1st SEPTEMBER, 2008, THE EXEMPTION WOULD BE 70% OF SUCH ALLOWANCE,, SUBJECT TO MAXIMUM OF RS. 10,000 PER MONTH...

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Sanket (!..Live to Give..!) (16427 Points)
Replied 26 August 2011

Thank for Updating My Knowledge......

vipul jain (EFFORTS NEVER FAIL) (2894 Points)
Replied 26 August 2011

SERVICE TAX UPDATE ==>> AMENDMENT IN SERVICE TAX RULES, 1994

NOTIFICATION NO. 03/2011 - ST DATED 01-03-2011

EXCESS PAYMENT OF SERVICE TAX{SUB- RULE (4B)---

PRIOR TO AMENDMENT-->>

IN CASE THE SERVICE PROVIDER HAS MADE EXCESS PAYMENT, THE SAME MAY BE UTILIZED FOR THE PAYMENT OF SERVICE TAX FOR SUBSQUENT MONTH LIABILITY SUBJECT TO CERTAIN CONDITIONS AS PRESCRIBED UNDER VARIOUS CLAUSES OF SUB RULE (4B) OF RULE 6.

CLAUSE ( iii) OD SAID SUB RULE STIPULATES THAT THE ADJUSTMENT OF EXCESS AMOUNTMENT PAID SHALL BE SUBJECT TO MAXIMUM OF RS. 1,00,000/- FOR A RELEVANT MONTH OR QUARTER, AS THE CASE MAY BE, IN CASES WHERE THE EXCESS PAYMENT IS NOT DUE TO DELAYED RECEIPT OF DETAILS OF PAYMENTS TOWARDS TAXABLE SERVICES....

***AFTER AMENDMENT***-->>

WITH EFFECT FROM 1-04-2011, THE AFORESAID LIMIT OF RS. 1,00,000 HAS BEEN INCREASED TO RS. 2,00,000.

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vipul jain (EFFORTS NEVER FAIL) (2894 Points)
Replied 26 August 2011

SERVICE TAX UPDATE ==>>

NOTIFICATION NO. 15/2011 - ST DATED 01-03-2011

SECTION 73B---

THIS SECTION PROVIDES FOR PAYMENT OF INTEREST ON THE AMOUNT COLLECTED IN EXCESS OF SERVICE TAX..

WITH EFFECT FROM 1-04-2011, THE RATE OF INTEREST NOTIFIED BY THE CENTRAL GOVERNMENT UNDER SECTION 73B IS 18% PER ANNUM...( BEFORE 1-04-2011, THE ROI WAS 13% PER ANNUM.)

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vipul jain (EFFORTS NEVER FAIL) (2894 Points)
Replied 26 August 2011

NON APPLICABILITY OF POINT OF TAXATION RULES(POT) RULES, 2011 AND CONSEQUENTIAL AMENDMENTS FOR NOVEMBER 2011 EXAMINATIONS....

STUDENTS MAY NOTE THAT THE EXAMINATION COMMITTEE OF THE ICAI HAS DECIDED THAT POT RULES, 2011 WOULD NOT BE APPLICABLE IN NOVEMBER 2011 EXAMS.

"KUCH TO COURSE KAM KIYA ICAI NE "

PAPER 8-- INDIRECT TAX LAWS ( CA FINAL )

PAPER 4- PART-II SERVICE TAX AND VAT ( CA IPCC )

PAPER 5- PART-II SERVICE TAX AND VAT ( CA PCC )

Attached File : 446388 814640 non applicability of pot rules.pdf downloaded: 326 times

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vipul jain (EFFORTS NEVER FAIL) (2894 Points)
Replied 27 August 2011

THIS POST IS USEFUL FOR THE STUDENTS OF CA FINAL.....CS FINAL.....CWA INTER / FINAL,, WHO FOLLOW THE BOOK "STUDENTS'S GUIDE TO INDIRECT TAXES--- 18th EDITION" AUTHORED BY YOGENDRA BANGAR,,, PUBLISHED BY AADHYA PRAKASHAN PVT. LTD...

PLZ CHECK OUT THE BELOW LINK----->>>>>

Attached File : 446388 814648 pot rule.pdf downloaded: 388 times

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