TAXATION
Q1 FBT TO BE TREATED AS ADVANCE TAX
The Central Board of Direct Taxes (CBDT) has put an end to the dilemma which all the tax payers were having about advance payment of Fringe Benefit Tax. Many companies and other tax payers had paid their 1st installment of FBT. In July 2009 Finance Budget, the decision to abolish Fringe Benefit Tax was passed [...]
LAST DATE TO E-FILE MVAT AUDIT REPORT IS 31/03/2010
Kind Attention to all MVAT Dealers.Maharashtra Sales Tax Department has finally issued Circular No. 05 dated on 28.01.2010, extending the due date for Maharashtra VAT Audit upto 31st March 2010.
The MVAT Audit Report is to submitted electronically in Form No.704. The dealer has to submit the MVAT Audit Report manually along with the required documents [...]
NEW TDS RATES APPLICABLE FROM 01.10.2009
In India Tax Deducted at Source (TDS) is one of the modes of collecting Income Tax from an assessee. TDS is enforced through Income Tax Act 1965. The concept of TDS is based on the theme of ‘PAY AS YOU EARN’.
Objective
• To enable salaried people to pay tax as they earn. This avoids the burden of [...]
LAST DATE FOR VAT RETURN HAS BEEN EXTENDED
Kind attention to all VAT dealers! Pay your tax in the bank on or before 21st October 2009 for the period ending September 2009.
It is mandatory to file e-return for all the vat dealers. Last date to upload your return is on or before 31st October 2009. No physical returns will be accepted in the [...]