The budget for the FY 2014-15 will be presented by H’ble Finance Minister Sh. Arun Jaitley Ji in the parliament on 10th of July, 2014. This will be a budget of aspirations of the young india – a budget that will set the agenda of Modi Government for the next 5 years and will mirror …
FINANCE BILL 2014 – A BUDGET OF INDIAN ASPIRATIONS Read More »
Section 126 of the Representation of the People Act, 1951 deals with ‘Prohibition of public meetings during period of forty—eight hours ending with hour fixed for conclusion of poll’. The key provisions of the section provides as below:- (1) No person shall— (a) convene, hold or attend, join or address any public meeting or procession …
RESTRICTION ON ADVERTISING BEFORE 48 HOURS OF TIME FIXED FOR CONCLUSION OF POLL Read More »
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 …
LOK SABHA ELECTIONS 2014 : Expenditure by Political Parties and other persons Read More »
The Interim Budget for the year 2014 has been presented by the H’ble FM in the Loksabha today. Tax Highlights of the budget are presented below:- (I) Income Tax – No Change [For Income Tax Ready Reckoner please send a request mail to info@ritulpatwa.com] (II) Service Tax – No change in Tax Rate i.e. 12% …
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 …
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 …
EXPERIENCE OF VCES, 2013 – A NEW APPROACH BY SERVICE TAX DEPARTMENT Read More »
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 …
Service Tax VCES 2013 – Hotel Industry Training Session by CA Ritul Patwa Read More »
VCES 2013 – PROBLEMS IN IMPLEMENTATION
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 …
WORKS CONTRACT SERVICE : PROBLEMS IN DECLARATION UNDER VCES 2013 Read More »
Wealth tax is levied on individuals, Hindu Undivided Families (HUFs) and companies who possess net wealth in excess of Rs. 30 Lakh on March 31st of every year. The Wealth tax law has declared a list of assets that will be considered to be part of the taxable wealth of the assessee. Broadly, house property, …