Screenshot of each steps of how to deposit or pay TDS on Sale or Transfer of Immovable Property under section 194-IA, introduced by Finance Act, 2o13.
Tax Deduction at Source (TDS) on transfer of immovable properties other than agricultural land for consideration exceeding Rs.50 Lakh Finance Act, 2013 brought a new section 194-IA under TDS provisions to levy tax at the rate of 1% on the transfer of an immovable property other than Agricultural Land by any Indian Resident where the sale […]
Service Tax Voluntary Compliance Encouragement Rules, 2013 (VCES) have been Notified via Notification No.10/2013-Service Tax dated 13th May, 2013. The Full Notification is reproduced here below for your reference: [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry of Finance (Department of Revenue) Notification No.10/2013 […]
Key Points in Notice of Amendments to The Finance Bill, 2013 1. Trading in commodity derivatives not to be considered as a speculative transaction The Commodities transaction tax is proposed to be introduced in a limited way by insertion of Chapter VII in the Finance Bill, 2013. The Finance Minister, in his budget speech, had clarified that […]
Tax Collection at Source (TCS) on Sale of Bullion or Jewellery in Cash Currently, sale in cash of bullion (excluding coin or any other article weighing 10 grams or less) in excess of Rs 2 lakh or jewellery in excess of Rs.5 lakh is subject to Tax Collection at Source (TCS) @ 1%. As coins […]
The Finance Bill 2013 has been passed by the Lok Sabha today (30.04.2013) after incorporating several important amendments which are as under: Key Points of Amendments: 1) Scope of Sec. 10(48) widened to include other prescribed income also and not just income arising from sale of crude oil. 2) Trading in commodity derivatives is no […]
Updates: New Forms have been notified, click here to download. New forms for filing of income tax returns for the assessment year 2013-14 are proposed to be notified by the end of this month. “The new forms for filing the income tax returns for the assessment year 2013-14 are proposed to be notified by the […]