The provisions of filing of income tax returns in case of Loss are governed by Section 139(3) of the Income Tax Act which states that in case a taxpayer has incurred a loss in the previous year, it is not...
Service Tax on Air Travel Agent & Tour Operator Read More
Service Tax in India is levied on all types of services except a few specified services mentioned in the Negative List of Services. Service Tax on Air Travel Agents & Tour Operators is also levied and the rate of service...
Place of Provision of Service Rules 2012 Read More
Place of Provision of Service Rules 2012 help in determining the place from where the Service shall be deemed to be provided and the chargeability of Service Tax on such Services shall be decided accordingly. The Place of Provision of...
Rent Free Accommodation: Computation & Taxability Read More
Employers usually provide several facilities to their employees one of which is Accommodation for Residence of the Employee. Sometimes, this accommodation is given to the employee without any charge and in some cases a nominal rent is received from the...
Declared Services for the purpose of Levy of Service Tax Read More
Service Tax is levied in India on almost all types of Services (except the Negative List of Services). However, there are certain activities which are difficult to determine that whether such activities would be classified as a Service or not....
4 Effective ways of searching for CA Articleship Vacancy Read More
Searching for Articleship Vacancy is one of the toughest tasks for a CA Student as most of the articleship recruitments in India are through Reference. However, not all articleship recruitments are done through referral and in this article we will...
Section 80C: Deduction for Children School/Education Fee Read More
To promote education in India, the govt allows for Income Tax Deduction under Section 80C & Section 80E. Deduction under Section 80C is allowed for payments made by self and deduction under Section 80E is allowed for Loan taken for...
Income Tax Deductions for expenses incurred on Children Read More
An Individual incurs various expenses for proper upbringing of their children. Some of these expenses can also be claimed as an expense under the income tax act and will help a taxpayer save his income tax. The taxpayer would be...
Tax Audit in India if Turnover above Rs. 50 Lakhs/ 1 Crore Read More
An Assessee is liable to get his Tax Audit done by a Chartered Accountant mandatorily, if in the previous year, The Person is carrying on business and his Total Sales/Turnover exceeds Rs. 1 Crore (Limit increased wef 1st April 2012)...
Service Tax on Digital Ads on Website & Mobile Read More
Budget 2014 which was presented by Arun Jaitley has removed the service tax exemption that was earlier available in case of Advertising on Website and Mobile Ads. In other words, Service Tax would now be payable on Online Digital Advertisements...