withdrawn audit Report--Due Date of filing Audit Report of DVAT (AR-1) extended again up to 28th Feb -2014

Delhi Trade & Tax Department has withdrawn filing Audit report in current Format AR-1 till the new Format but no format prescribed so far as it is last date of filing today.

No TDS on Service Tax amount

In recent circular CBDT has clarified that TDS should not deducted where service tax amount has been shown separately. Earlier, vide circular No.4/2008 date 28 April 2008 it was clarified that tax is to be deducted at source under Section 194-I of the Act, on the amount of rent paid/payable without including the service tax component.  But now there is no need to deduct TDS in any payments under Chapter XVII-B of the Act.

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One single window for CS registration

With a view to provide efficient and any- time service to students , the Institute of Company Secretaries of India (ICSI), working under the aegis of the Ministry of Corporate Affairs, has moved to complete online registration for the Company Secretaryship (CS) Course w.e.f 1.1.2014. Now the Institute accepts only online registration to the CS course.

CS Course is the flagship programme of ICSI. A person completing this course, both examination and training, is enrolled as a Member and becomes eligible to work as a Company Secretary either in employment or in practice. To facilitate the students registering for the CS Course, the Institute has placed an animated help to do online registration which is available on www.icsi.edu.

Decisions Taken On Indirect Tax Issues for Exchange of Views Between Industry Groups and Government on Tax Related Issues or Tax Related Disputes

Decisions Taken On Indirect Tax Issues by the Forum Chaired by Dr. Parthasarathi Shome, Adviser to the Finance Minister for Exchange of Views Between Industry Groups and Government on Tax Related Issues or Tax Related Disputes

Students even not registered for classes may contact for clarification of their doubts and all query will be answered in due course of time.

For Sending your query, you should follow following format so that answer can be given in minimum time:-

Zero Rate sale – Eligibility criteria under Tamilnadu VAT

Commissioner of Commercial Taxes of Tamilnadu has recently issued a circular in which he addressed & clarified some issues on zero rate sale.

Amount Received by Partner of the Firm at the time of retirement not liable to tax

Recently Honourable High Court of Bombay in the case of "CIT vs. Riyaz A. Sheikh (Bombay High Court)" (for full case law click here)  held that amount received by partner on his retirement is not chargeable to tax as capital gains.

Compulsory online payment of service tax if tax liability is Rs.One lakh

Presently, where an assessee has paid Service tax or Central Excise in Cash or through Cenvat credit of Rs. 10 lakh or more in the preceding financial year, he is required to make payment of Service tax or Central Excise electronically through internet banking.

Due date of filing Delhi VAT Return extended for IInd Quarter

Due date of filing Quarterly Return of IInd quarter for FY 2013-14 under DVAT has been extended vide Circular No. 26 of 2013-14 dated 20.11.2013 . Now it can be filed upto 25^th Nov 2013 and followed by hard copy upto 28^th Nov 2013.

Copy of circular given below for reference:-

An update on House Rent Allowance - A tool of Tax planning for employees

Few days back I posted a note on exemption from house Rent allowance (“ House Rent Allowance-A tool of Tax planning for employees” ), Original post is available for who has not read it.

On the basis of queries which I have received  I am trying to include some more questions and their answers for sharing purpose and would appreciate if I get more queries:-