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Service Tax on Rent payable @15% from 15th Nov 2015

Service Tax on Rent payable @15% from 15th Nov 2015

In the past few years, there has been much confusion regarding the applicability of Service Tax on Rent. The Govt’s stand was different to what the Courts had to say...

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Penalty for Late Filing of Income Tax Return (updated)

Penalty for Late Filing of Income Tax Return (updated)

Income Tax Return is required to be furnished before 31st July/ 30th Sept of the Assessment Year. However, if the return is not filed before the due date, both interest and...

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Section 148 – Income Escaping Assessment

Section 148 – Income Escaping Assessment

Before making the assessment/reassessment or re-computation under Section 147, the assessing officer shall serve on the assessee a notice requiring him to furnish a return of his income or income...

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Section 154 – Rectification of Mistake by Tax Authority

Section 154 – Rectification of Mistake by Tax Authority

It may be possible that an Income tax authority may commit a mistake while passing the order of assessment, appeal, revision etc. With a view to rectifying any mistake, apparent...

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Filing Income Tax Return in case of Loss: Section 139(3)

Filing Income Tax Return in case of Loss: Section 139(3)

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...

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Service Tax on Air Travel Agent & Tour Operator

Service Tax on Air Travel Agent & Tour Operator

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 &...

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Place of Provision of Service Rules 2012

Place of Provision of Service Rules 2012

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...

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Rent Free Accommodation: Computation & Taxability

Rent Free Accommodation: Computation & Taxability

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...

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Declared Services for the purpose of Levy of Service Tax

Declared Services for the purpose of Levy of Service Tax

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...

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Blog – Page 35 – Chartered Club