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As per the new notification dated May 19, 2015 vide D.O.F. no. 334/5/2015-TRU from service tax department, new service tax rate @14% is to be charged from the clients. For this purpose, there are three following aspects to consider: 1. Date of receipt of amount against the services provided or to be provided. 2. Date of provision of services. 3. Date of
Learn MoreAmendments made by Finance Bill, 2015 (w.e.f. enactment date) Finance Bill, 2015 has made the following two changes in the provision of section 73 – New sub-section (1A) enabling recovery of self assessed and returned u/s 70 Service Tax payable but not so paid, as per section 87 of the Finance Act, 1994; and Omission of sub-section (4A) which provided for non-issuance of
Learn MoreCBDT has vide Notification No. 41/2015 Dated 15.04.2015 notified Form ITR-1, ITR-2 and ITR-4S for Assessment Year 2015-16 i.e Financial Year 2014-15. The Notification also made Several Change in Rule 12 of Income Tax Rules, 1962 which is related to Condition of Filing of Income Tax Return. A brief summary of Changes is as follows
Learn MoreConstruction Service / Works Contract- Residential Apartments Impact of Larsen & Toubro [ K.Raheja] Judgment.
Learn MoreMUMBAI: The Bombay High Court has upheld the levy of service tax on services provided by lawyers and law firms, to their business clients. Thus, business entities who hire lawyers and law firms will have to continue to pay service tax and also deposit it with the government. Since July 2012, a ‘reverse charge mechanism’ was introduced. Business entities, with a
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