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Taxclick Team, Author at All About Finance - Page 90 of 97

Audit of the Service Tax assessees by the officers of Service Tax and Central Excise Commissionerates – Circular No. 181/7/2014-Service Tax

Circular No. 181/7/2014-Service Tax F. No. 137/46/2014-Service Tax Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs     New Delhi, the 10th December, 2014   To,   All Principal Chief Commissioners / Chief Commissioners of Central Excise/Service Tax      Principal Directors General/ Director General Service Tax/ DGCEI/Systems/ Audit All Principal … Read more

Anti-dumping duty on imports of Clear Float Glass originating in or exported from Pakistan, Saudi Arabia and United Arab Emirates (UAE)

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]   GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE)   Notification No. 48/2014-Customs (ADD)   New Delhi, the 11th December, 2014               G.S.R.     (E). – Whereas in the matter of imports of Clear Float Glass of nominal thicknesses ranging from 4mm … Read more

Responsibilities of person who is responsible for deduction of TDS on salary (Part 3- of Circular No. 17/2014)

4.PERSONS RESPONSIBLE FOR DEDUCTING TAX AND THEIR DUTIES: 4.1. As per section 204(i) of the Act, in case of payments other than payments by the Central Government or the State Government, the “persons responsible for paying” for the purpose of Section 192 means the employer himself or if the employer is a Company, the Company itself including the Principal Officer … Read more

FORMAT OF DECLARATION TO BE FILED BY THE ASSESSEE CLAIMING DEDUCTION U/S 80 GG (Part-11, of Circular 17/2014)

      I/We………………………………………………………………………………………….. ( Name of the assessee with permanent account number) do hereby certify that during the previous Year………….I/We had occupied the premise………………………….(full address of the premise) for the purpose of my/our own residence for a period of…………………..months and have paid Rs. ………………. In cash/through crossed cheque, bank draft towards payment of rent … Read more

PROCEDURE OF PREPARATION OF QUARTERLY STATEMENT OF DEDUCTION OF TAX UNDER SECTION 200(3) OF THE ACT (Part -9 of Circular 17/2014)

ANNEXURE VI POINT NO. 4.9 OF CIRCULAR OF DEDUCTION OF TAX AT SOURCE FROM SALARIES U/S 192 OF THE INCOME TAX ACT, 1961 – FINANCIAL YEAR 2014-15 – PROCEDURE OF PREPARATION OF QUARTERLY STATEMENT OF DEDUCTION OF TAX UNDER SECTION 200(3) OF THE ACT 1.    Quarterly e-TDS statement/return should be prepared by Deductor/DDO as per … Read more

Person Responsible for filing Form No. 24G in case of State Govt. Departments (Part -8 of Circular 17/2014)

    1.  Under what income tax rule should Form 24G be filed? Income-tax Department Notification no. 41/2010 dated May 31, 2010amended the Income Tax Rule 30 which mandates that in case of an office of the Government, where tax has been paid to the credit of Central Government without the production of a challan … Read more

Format of Form No. 12BA (Part 6 of Circular 17/2014)

ANNEXURE-II        1)      Name and address of employer :   3)    TDS Assessment Range of the employer :     (where the employer is a company) 6)      Income under the head “Salaries” of the employee : (other than from perquisites)   8)      Valuation of Perquisites S.No Value of Amount of     (see … Read more

Method of calculation of salary and computation of average income tax (Part – 2 of Circular 17/2014)

3. SECTION 192 OF THE INCOME-TAX ACT, 1961: BROAD SCHEME OF TAX DEDUCTION AT SOURCE FROM “SALARIES”:     3.2  Payment of Tax on Perquisites by Employer: An option has been given to the employer to pay the tax on non-monetary perquisites given to an employee. The employer may, at its option, make payment of … Read more

Income Tax rate for individual for assessment year 2014-2015 (Part-1 of Circular 17/2014)

CIRCULAR NO : 17/2014  F.No. 275/192/2014-IT(B) Ministry of Finance Central Board of Direct Taxes   Dated    10th December, 2014         2. RATES OF INCOME-TAX AS PER FINANCE (No. 2) ACT, 2014: As per the Finance (No. 2) Act, 2014, income-tax is required to be deducted under Section 192 of the Act from income … Read more

Interest Subvention Scheme for National Rural livelihoods Mission (NRLM)

RBI/2014-15/342FIDD.GSSD.CO.BC.No.45/09.01.03/ 2014-15 December 09, 2014 The Chairman / Managing DirectorAll Public and Private Sector Banks Dear Sir / Madam, National Rural livelihoods Mission (NRLM) – Aajeevika – Interest Subvention Scheme Please refer to our circular RPCD.GSSD.CO.BC.No.57/09.01.03/2013-14 dated November 19, 2013 on Interest Subvention Scheme under National Rural Livelihoods Mission (NRLM). 2. The revised guidelines for the year … Read more