Companies Act 2013

 TRACES stands for TDS Reconciliation Analysis and Correction Enabling System and has been set up by TDS Centralized Processing Cell of the income-tax department.   TRACES will integrate the following components: Tax information Network Automated TDS Challan Matching TDS Defaults Processing IVR/ Call Centre Web Portal  New Web Portal:  https://www.tdscpc.gov.in The new portal has […]

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. 01/2013-Service Tax New Delhi22nd February, 2013 3 Phalguna, 1934 Saka  G.S.R (E).-In exercise of the powers conferred by sub-section (1) read with sub-section (2) of section 94 of the Finance […]

Rail Minister Pawan Kumar Bansal on Tuesday presented his maiden Rail Budget. There has been no hike in passenger fares, but marginal hike in freight charges, reservation fee, cancellation fee, tatkal charges and supplementary charges. Following are the highlights of the Railway Budget 2013-2014: Thrust 1. Safety; 2. Consolidation; 3. Passenger Amenities; […]

India must make tough spending choices, finance minister P Chidambaram said on Thursday, even as he unveiled a bigger-than-expected outlay for the coming fiscal year in one of the most highly anticipated Indian budgets of recent years. Following are highlights of the Budget: FISCAL DEFICIT * Fiscal deficit seen at […]

In a move that will bring cheer to many prospective home-owners, Finance Minister P Chidambaram announced incentives for home loan borrowers in his budget 2013 speech. Chidamabram said that any person taking a first time home loan up to Rs 25 lakh during the financial year 2013-14 will be allowed […]

There will be no change in tax rates or slabs for FY14, Finance Minister P Chidambaram said in his Budget speech. However, he announced a tax credit of Rs 2500 for Rs 2-5 lakh tax payers bracket. Chidambaram said that only 42,800 people in India last year declared a taxable […]

Defining export of service has been very tricky due to intangible nature ofservice transaction. Due to this nature of services, there has been constantconfusion regarding meaning of export of services. In Microsoft CorporationIndia Pvt. Ltd. v. CST, New Delhi [2009 (15) STR 680], an attempt was made todefine the export […]

Income Tax Return forms for the year 2012-2013 (Assessment year 2013-2014) has been available for assess on Income Tax website https://incometaxindiaefiling.gov.in/e-Filing/UserLogin/LoginHome.html?nextPage=efile Checklist of documents for Assesses     A copy of last year’s tax return     Bank Statement     TDS certificates     Savings certificates/Deductions     Interest statement showing interest paid to you […]

TDS Rates FY 2013-14

Tips to Save Tax