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Download TDS Calculator for A.Y. 2010-11

February 14, 2010

As you all go through online TDS calculator for A.Y. 2010-11. Readers like the calculator so much and request for download it. So we have prepared this calculator for you in excel. Please download TDS Calculator for A.Y. 2010-11. Click Here to Download TDS Calculator. Please check all conditions and notes before download and use [...]

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How to Get Importer Exporter Code (IEC) Number in India?

February 12, 2010

This article “how to get an importer exporter code number (IEC number) in India” is basically for those who have an interest to start the business of import export into or from India. Export at these days is one of the most high-income businesses in India. The income from export business is also exempted [...]

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Clarification regarding Schedule Entry C-70 – Paper – MVAT Circular

February 6, 2010

No.DDQ-ll-2008/ Adm-3/10
Circular No.7T of 2010, Dated: Date: 3rd February 2010
Sub: Clarification regarding Schedule Entry C-70 – Paper.
Ref: (1)   Trade Circular No. 35T of 2005 dt. 9.11.2005,   (2)   Trade Circular No.1T of 2006 dt. 3.1.2006.
In the above referred circulars it was clarified that certain types of papers would be covered by the scope [...]

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Clarification Regarding Surcharge / Additional Tax on Punjab VAT Rates

February 6, 2010

As you all know that Punjab Government has already increased the VAT rates from 4% to 5% on Scheduled B items w.e.f. 29-1-2010 and levied the surcharge on VAT Rates @10% w.e.f. 5-2-2010 as per public notice on 4-2-2010. But all VAT registered dealer are in confusion about surcharge. So A. Venu Prasad (ETC) has [...]

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Now Surcharge @ 10% will be Applicable on Punjab VAT Rates w.e.f. 5-2-2010

February 4, 2010

The VAT rate was increased from four percent to fiver percent recently by Punjab Government. (See the detail about increase rates of Punjab from 4% to 5%). Now, Punjab Government has levied the surcharge @10% on VAT. The Excise and Taxation Department of Punjab has issued the notice in this regard on 4th Feb,2010. See [...]

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How to Form a Private Limited Company in India

February 2, 2010

As you reach this article how to form a private company means you want to go through the basic and step by step guidelines to set up a private limited company. We will discuss in this article various formalities associated with company formation. There are lots of advantages of a private company over a partnership [...]

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Get Refund or Adjust Against Income Tax for FBT Paid of A.Y. 2010-11

January 29, 2010

As you all know FBT has abolished  from A.Y. 2010-11. However, many assesses has paid advance tax in respect of FBT during this current financial year 2009-10 for assessment year 2010-11. So CBDT eventually issued this circular for adjustment of advance fringe benefit tax (FBT) against income tax /advance tax for the [...]

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Punjab VAT Rates Increased from 4% to 5% w.e.f. 29-1-2010 on Schedule B Items

January 28, 2010

The proposal to increase VAT rate from 4 to 5 percent of two member (SAD-BJP) committee formed by Punjab Government has concluded today. As another proposal of 10 percent will not applicable right now. The most recent public notice by Excise and Taxation Department of Punjab has increased the [...]

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12 Different Taxes Americans are Paid!

January 24, 2010

I found this  interesting article on 12daysoftaxes and think that it could be interesting for my readers. We have talked all about indian taxes, so i think it will give you a basic idea about the USA taxes.
“in this world nothing is certain [...]

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Tax Provisions of Rent Arrears

January 24, 2010

In this article, we will discuss about the tax provisions of rent arrears received in current financial year of due from  previous years. The majority of the tax payers are confused how it is taxable, In which Asstt. year arrears of rent is taxable, is there any interest payable on income tax for default of [...]

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Some Ways to Reduce TDS on Salary

January 23, 2010

In this article, we will consult “ways to deduct less TDS on salary” to avoid hindrances for getting income tax refund from income tax department. It is very confusing for most of  the assessees to get refund from income tax refund. I am receiving daily 30 to 40 queries regarding delay of  income tax refund [...]

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Guidelines for e-filing of Tamil Nadu(TNVAT) VAT Returns

January 23, 2010

Tamil Nadu Value Added Tax (TNVAT)
Allmost all states in India has adopted online system of VAT returns. Every dealer or registered dealer has required to e-file of his VAT return.  Tamil Nadu Value Added Tax Act 2006 has come into effect from 1st January 2007. In this article we will discuss about that how to [...]

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Amendments in Delhi VAT Act: VAT Rate 4 % to 5% from 13-01-2010 and More.

January 18, 2010

The latest notification of Delhi VAT Department has made some changes about the rate of VAT percentage and increase some formalities to claim “Input Tax Credit”. Some synopsis of latest notification of Delhi VAT on 14-1-2009 as follows. The notification has approved the amendment in Delhi Value Added Tax Act, 2004.
VAT Rate Increment from 4% [...]

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How is Limited Liability Partnership (LLP) is Taxed?

January 17, 2010

The Limited Liability Partnership Act, 2008 has come into effect in 2009. LLP Rules and forms have been notified w.e.f. 1st April, 2009, The Finance No.2 Act, 2009 has incorporated the taxation scheme of LLPs in the Income Tax Act. It is same patters as in partnership firms i.e. taxation in the hand of the [...]

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Service Tax Circular – Irregular Availment of Cenvat Credit on Certain Activities not Amounting to Manufacture

January 17, 2010

Service Tax Circular:
Irregular availment of Cenvat credit on certain activities not amounting to manufacture

Circular No. 911/01/2010-CX, dated 14-1-2010
Reference has been received from field formations stating that though certain activities including connectorising, testing, repacking and relabeling of feeder cables, cutting of HR/CR coils into sheets or slitting into strips do not amount to manufacture, such [...]

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Circular No. 1/2010 – Deduction of Tax Deducted at Source – Salaried U/S 192

January 17, 2010

See the latest circular for TDS on Salaried under section 192.Section 192 of the income tax act, 1961 – Deduction of tax at source – salaries – income- tax deduction from salaries under section 192 during the financial year 2009-10
Circular No. 1/2010 [F.No.275/192/2009 IT (B)], dated 11-1-2010.
Circular No.1-2010 Tds on Salaries

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