Amendments in Various Acts administered by Maharashtra sales tax department due to budget proposal for the year 2014-15 To give effect to the Budget proposals for the year 2014-15, a Bill (Legislative Assembly Bill No. XIX of 2014) to amend the various Acts, administered by the Sales Tax Department has been passed by the Legislature and … Read more
File No. ICAI/ClTAX/2014-15/Rep/02 THE ]INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up by an Act of Parliament) ‘ICAI Bhawan’, Indraprastha Marg, New Delhi – 110 002. INDIA Dated: 13/11/2014 Sh. Ashish Abrol Directorate of Income Tax (Systems), Aayakar Bhawan, Vaishali, Sector-3, Ghaziabad, 201010, Uttar Pradesh Subject: Representation Form No. 3CEB for reporting of International … Read more
I take pride in telling my CMA professional colleagues, that if there is one area where CMAs beat hands down to other professionals (read chartered accountants, whom we are always jealous of and therefore continue to benchmark) colleagues it is “processes” Having privileged to work on processes and process manual in five companies by now, … Read more
Amendments in Maharashtra Value Added Tax 2002 in additional budget 2014-2015 Maharashtra Tax Laws Act (Levy short title and amendment and validation) Act 2014 is published in the official gazettes as on 26th June 2014. The following are important amendments in Maharashtra Value Added Tax 2002 1. Every dealer is required to get register compulsory … Read more
Today, the finance Minister Arun Jaitley presented the Union Budget 2014-2015. Highlights on tax proposal are as below: Direct Tax proposal Personal tax exemption limit is increased to 2.5 lakh from 2 lakh for the person below the age of 60 years. The exemption limit of senior citizen is raised to 3 lakh from 2.5 … Read more
What is Growth Rate – Growth Rate is the amount of increase that a specific variable has gained within a specific period and context. Example – Consider the below table of Sales of a company and its annual sales growth rate – Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Sales 54.20 76.00 … Read more
(Kindly refer the following link for highlights of Maharashtra State additional budget 2014-15. https://taxclick.org/type/mvat-cst/maharashtra-state-additional-budget-2014-2015—highlights-of-tax-proposals) The deputy chief minister (Finance), Ajit Pawar presented the Maharashtra State Interim budget speech, today, on 25Th February 2014. There is neither new tax proposal nor revision in existing tax laws. However, commodities of daily use such as food grains, pulses, … Read more
Finance Minister P Chidambaram presented the Interim Budget for 2014-15 on Monday, 17th Feb, 2014. Here are the some highlights of that budget. 1) Excise duty on Small Cars, Motorcycles, SUVs and lager and mid size cars is reduced – The above concessions aimed at the middle class and to boost the automobile sector that … Read more
Madam Speaker, INTRODUCTION I rise to present the Interim Budget for 2014-15. The Current Economic Situation 2. As I prepared to write this speech, I found that whether it is a regular Budget for the full year or an interim Budget, some things remain the same. For example, our goals are the same and the … Read more