taxation

Mr. Rajeev Kumar, a Chartered Accountant, working with a leading Automobile company was worried about his insurance policy. He had bought an insurance-cum-investment plan from a company (say “K”) 3 years back with an annual premium of Rs. 24,000 p.a. p class=..

YES people now a days are net savvy , though unknowingly they may be trapped under Information Technology Act ,2000 . Following are the top ten 'Cyber Crimes' while filing Indian Income Tax return Online:-   p class="MsoListParagraph" style="text-align: ju..

In prelude to General Elections, several radical ideas are being circulated. Baba Ramdev is believed to have propounded this idea, supported by Gadkari and finally, endorsed by Modi, though they have not committed to it as yet. Let us examine the merits of the idea. Government never tweaks a tax law unless it expects to get more reve..

Suddenly, it has become fashionable in India to talk about black money and behave as if it is the root cause of all problems and we all will become prosperous no sooner black money is put to tax net within the control of our dear government which has long defined public interest as its petty revenue interest only. Let us examine merit o..

Last time when you had visited an air-conditioned restaurant did you notice 4.94% service tax on your food bill apart from the local VAT charges? Well with effect from 1st April 2013 Service Tax is applicable on sale or supply of food stuff in air-conditioned restaurants whether or not part of any hotel. Even the eating joints in air-conditioned malls and eaterie..

“Trust me Sir, real estate will always give you best returns. The prices cannot go down and you will be double your money in 3 years. I think you should book this flat.” said Kunjan Srivastav, a seasoned real estate broker to his potential client Vaibhav Deshpande, a 33 year old IT Professional.   Vaibhav seemed to be convinced with Kunjan’s logic..

INTRODUCTION      Increasing participation of multinational groups in economic activities in India has..

June is the month, when many campus recruits start with their first job. Sameer Dahane was one of them. While he was excited of a new role, he was equally eager to get his salary so that he can splurge it.   On a casual tea-time discussion with Kapil, his senior, he shared his th..

I, have come across with numerous questions from various level of people who have some or other kind of questions related to their Income Tax matter, in this article I would try to list most commonly or frequently asked questions and try to provide you with the answers in most lay man’s term without using any kind of Legal or difficult words./..

At present, most of the sales tax/value added tax enactments have a provision which requires an assessee to deposit the entire amount of tax or a  portion of the disputed tax, as an “admission fee” before filing appeal. An assessee, therefore, can enter the office of the appellate authorities only if the “admission fee” is paid at the ..

The other day, I was talking to a friend of mine, Sunil (name changed), when he told me that he is looking for a good life insurance policy for his father, who is 65 years old. Sunil also said that most of the policies do not cover his father and others demanded a very high premium. Being a person closely associated with the financial industry, I knew that this wo..

“Come on! If you are a really good friend of mine, you ought to buy a life insurance policy from me”.   Sounds Familiar? How many times we keep hearing this argument from a close friend (?) or a relative to buy an insurance policy from him. Ever imagined how much this ap..

BEWARE OF LIABILITY TO PAY SERVICE TAX UNDER REVERSE CHARGE METHOD,  WHEN SERVICE AVAILED FROM ANOTHER INDIVIDUAL ADVOCATE. p style="text-align:ju..

Dear Friends/Colleagues   In my previous article I shared my knowledge about the levy and chargeability of GST. In this article I am sharing with you about the rates of GST that will be applicable in future. In this regard there has been the different opinion of various committees a..

Reference No.                   Dated:January 27, 2012   Sub:Vodafone case-few suggestions to implement in future tax laws   ..