PROFESSIONAL UPDATES:
21st August, 2015
► Govt. has notified challan no ITNS 284 for depositing taxes under the black money Act.
► ITR E-Verification is possible through
i. authenticate your Aadhaar and link it with your PAN,
ii. Net-banking account and get redirected to the efiling,
iii. E-filing OTP (available only if the Returned Income is below Rs 5 Lakh and no refund is claimed).
► With effect from 1st SEP'15, all 2nd & 4th Saturdays, declared as Public Holiday for all Banks and 1st and 3rd Saturday full working days.
► FAST TRACK EXIT (FTE) FOR DEFUNCT COMPANIES U/s Sec 248 of 2013 Act if The Co have “Nil” Assets & Liabilities and not carrying any business activity except Listed Companies by application Form FTE with fees of Rs. 5,000/-.
► CBEC clarifies on Show Cause Notice issuance & proceedings conclusion as per amended penal provisions in Service Tax and Central Excise.
► Supreme Court on 20th Aug 2015 in the case of CCE Kerala vs Larsen & Toubro Ltd. held that Service Tax can not be levied on indivisible contracts prior to the introduction on 1st June 2007 which expressly makes such works contracts liable to service tax.
- CA Kasliwal Ambar
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