Important Circulars Notifications August September’2015
Services in relation to remittance of foreign currency from outside India to India is chargeable to service tax. Gazette Notifications of Government of India will only be e-published www.egazette.nic.in. Internal Financial Control over Financial Reporting (ICFR) is applicable for Financial... Read More →
Important Circulars Notifications April’2015
Introduction of Undisclosed Foreign Income and Assets (Imposition of tax) bill, 2015. New bench of Supreme Court has been constituted to deal exclusively with income tax matters. Increase in transport allowance exemption limit from Rs. 800 to Rs. 1,600. Period... Read More →
Budget 2016-A crisp analysis of Income Tax provisions by Blue Consulting
Rate of corporate tax has been reduced to 29% for small businesses having turnover of less than Rs. 5 Cr. Clarification on concessional rate of 10% on the Long term capital gain on Unlisted Securities. Increase in threshold limit for... Read More →
Budget 2016- Analysis of Service Tax provisions by BC
Increase in service tax rate through a new levy in the name of “Krishi Kalyan Cess” by 0.5%. Indirect tax Dispute Resolution Scheme, 2016 introduced. Monetary limit for launching prosecution increased from Rs. 50 lacs to Rs. 2 crore. The... Read More →
Budget 2015-A crisp Analysis of Income Tax provisions by Blue Consulting
Rate of corporate tax has been reduced to 29% for small businesses having turnover of less than Rs. 5 Cr. Clarification on concessional rate of 10% on the Long term capital gain on Unlisted Securities. Increase in threshold limit for... Read More →
Budget 2014- Analysis of Service Tax provisions by BC (21st July’ 2014)
Advertisement through specific media now taxable. Services of “Radio Taxis or Radio Cabs” will be taxable. Some provisions of Central Excise Act inserted in Service Tax. Some existing Mega Exemptions withdrawn and some new Mega Exemptions introduced. Slab of interest... Read More →
Budget 2014- Analysis of Income Tax provisions by BC (21st July’ 2014)
Disallowance restricted to 30% due to non-deduction of TDS. New chapter inserted for Business Trust. Exemption from Capital gain by reinvestment in one residential house in India. Forfeiture of advance receipt shall be taxable. Increase in the limit of deduction... Read More →
Budget 2013- Analysis of Service Tax provisions by BC (5th March’ 2013)
Service Tax Voluntary Compliance Encouragement Scheme, 2013. Recovery of CENVAT Credit wrongly taken. Personal penalty on director of a company through introduction of a new Section 78A. Power to arrest for certain offences introduced through a new Section 91. Download... Read More →
Budget 2013- Analysis of Income Tax provisions by BC (5th March’ 2013)
Amendment in General Anti Avoidance Rule. Return of Income filed without payment of self- assessment tax to be treated as defective return. Taxability of immovable property received for inadequate consideration. Download Now
Budget Synopsis by Blue Consulting (March 19th – 2012)
General Anti-Avoidance Rules (GAAR) introduced whereby an impermissible avoidance arrangement may be disregarded/ tax benefits denied. Threshold limit for tax audit increased from Rs. 60 lacs to Rs. 100 lacs. Download Now