Chartered Accountants

LOK SABHA ELECTIONS 2014 : Expenditure by Political Parties and other persons

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1.1       Section 77(1) of the Representation of the People Ac, 1951, provides that every candidate contesting election shall keep a correct account of all election expenditure incurred or authorized by the candidate or his election agent. The expenditure incurred on travel by leaders of a political party whose names have been communicated to the …

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SERVICE TAX LIABILITY ON EDUCATION INSTITUTIONS

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As per our constitution and in accordance with the law – Formal Education (Schooling, recognised Graduation & Post Graduation Courses) in India are ‘not for profit’ activity. In line with this principal, under the negative list regime of the Service Tax Laws effective from 01-07-2012, the government has declared certain services given and received by an …

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EXPERIENCE OF VCES, 2013 – A NEW APPROACH BY SERVICE TAX DEPARTMENT

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I have been closely associated as a professional consultant with the Service Tax Voluntary Compliance Encouragement Scheme (VCES), 2013, since the enactment of the scheme by the government. Few of the early declaration in Jaipur under VCES, 2013 have been filled from our office. As a witness to the implementation of the scheme and on …

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Service Tax VCES 2013 – Hotel Industry Training Session by CA Ritul Patwa

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A technical session was organised on 19.11.2013 in Jaipur on impact of Service Tax on hotel industry and the benefits of VCES, 2013 for the hotel industry. The event was organised by the Hotel Association of Jaipur. As a keynote speaker at the session CA Ritul Patwa discussed different categories of services within a hotel …

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EXTENSION OF THE DUE DATE FOR FILLING INCOME TAX RETURN/ AUDIT REPORT UPTO 31-10-2013

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In exercise of powers conferred under section 119 of the Income-tax Act, 1961, the Central Board of Direct Taxes, In continuation to order u/s 119 dated 26.09 .2013 in F.No. 225/117/2013/1TA.II, hereby directs that in cases where the ‘due date’ of furnishing reports of audit and corresponding income-tax returns was 30th September, 2013 and where the same are furnished …

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REQUIREMENT FOR VAT/SALES TAX REGISTRATION IN RAJASTHAN

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Every person, who carries on business in any capacity, of buying, selling, supplying or distributing goods directly or otherwise, or making purchases or sales as defined in clause (35) for himself or others, whether for cash or deferred payment or for commission, remuneration or other valuable consideration may take registration for Sales Tax or VAT …

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WORKS CONTRACT SERVICE : PROBLEMS IN DECLARATION UNDER VCES 2013

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Before we discuss the problems faced by an Assesee engaged in the Works Contract Service and intends to make a declaration under VCES, 2013, we must understand the Taxability of Works contract Service prior to 01-07-2013. LEGAL POSITION PRIOR TO 01-07-2013 “Works contract”, for the purposes of section 65(105)(zzzza), means a contract wherein,- (i) transfer …

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