Person Responsible to Deduct Tax: Payment made by specified person other than individual or HUF, who are not subject to tax audit during the preceding financial year. Category of Payee: Any person resident in India Rate of Deduction of Tax: Up to 30-9-2009 Advertisement contracts:1% Other contracts: For contractors-2% For sub-contrctors-1% W.E.F 1-10-2009 All contractors […]
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Person Responsible to Deduct Tax: Any person being licensed by the Government or a Licensed Bookmaker. Category of Payee: All assesses Rate of Deduction of Tax: 30% No TDS: If the payment does not exceed Rs.2500/- Time for Deduction of Tax: At the time of payment Time for Deposit of TDS: In case of deduction […]
Read MorePerson Responsible to Deduct Tax: Any person paying the sum by way of winnings from lottery, crossword puzzle, card game or game of any sort. Category of Payee: All Assesses TAX Rate of Deduction of Tax: 30% No TDS: If the payment does not exceed Rs.5000/- Time for Deduction of Tax: At the time of […]
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Person Responsible for Tax Deduction: Central or state Government, Local authority, Company or Corporation established by Central or state Government. Category of Payee: Any person being resident. Rate of Deduction of Tax: Resident non-corporate assessee and domestic company – 10% Time for Deduction of Tax: At the time of credit to the account of payee […]
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The Introduction of the VAT system in India was initiated by the present Prime Minister and former Finance Minister Dr. Manmohan Singh in the year 1995 at a Chief Ministers Meeting. The process was continued by the subsequent Finance Ministers especially during NDA Government by former Finance Minister Mr. Yeshwanth Sinha who has constituted a […]
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Person Responsible to Deduct Tax: All assesses who are employers. Category of Payee: Employees having taxable salary, including non-residential employees. Rate of Deduction of Tax: Rates of as applicable to the individuals. Time For Deduction of Tax: At the time of payment i.e., as and when salary is paid and not when it is due. […]
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1. Registration Every dealer whose turnover is more than Rs.40 lakhs in last 12 months or more than Rs. 10 lakhs in last 3 months. For dealers whose turnover is less than Rs. 40 lakhs and above Rs. 5 lakhs in the last 12 months no fresh registration is required, existing APGST number will apply. […]
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I am herewith presenting some of my personal views to be discussed with regarding the proposed Company Law. I. Company Law: The Proposed Company Law has to consider the following issues: 1. Face Value of Shares: There should be uniformity face value of forms @ Rs.10/- each and should not have any other face values […]
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The Department Is More And More Depending Upon Tcs, And Tds To Collect The Taxes In Advance From The Duductors, Payers Of Income. This Step Will Reduce Tax Avoidance By The Income Earners. Also This Step Is Acting As Safety Against Loss Of Revenue. Tds, Tcs Constitutes More Than 40%Of Total Tax Collections Of The […]
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The following are some of the effects on investment culture of investors, reliability of corporate information, safety of investment and over all effect of investing community in the long run. Fluctuations: Recent abnormal growth in share prices and followed by steep fall in the prices resulted into treating the investment in capital market in the […]
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