CELEBRATING 700TH POST OF TAX OF INDIA.

https://taxofindia.wordpress.com/2016/06/23/arrest-of-tax-defaulters-cbdt-clarifies/

Revised India Mauritius DTAA Agreement.

Click the link below to read the complete article.


https://taxofindia.wordpress.com/2016/05/11/revised-india-mauritius-dtaa-agreement/

Changes in the Finance Bill 2016 as passed by the Lok Sabha

Please click the link below to get the access to complete article.


https://taxofindia.wordpress.com/2016/05/05/changes-in-the-finance-bill-2016-as-passed-by-the-lok-sabha/

Procedure for TCS/ TDS return filing in the ITD e-filing portal

The new change of E TDS return is very important.  Please click the link below.




https://taxofindia.wordpress.com/2016/05/05/procedure-for-tcs-tds-return-filing-in-the-itd-e-filing-portal/

India Taxes- Due Date Alert for the month May 2016

To read the duel date please click the link below


https://taxofindia.wordpress.com/2016/04/29/india-taxes-due-date-alert-for-the-month-may-2016/

Tax Saving Proof required from Employee

To read the latest  circular please click the link below.


https://taxofindia.wordpress.com/2016/05/03/tax-saving-proof-required-from-employee/

Understanding Turnover exemption u/s 10A of the Income tax act, 1961.

In respect of claim of exemption u/s 10A, 10AA & 10B, still there is lot of confusion is there between taxpayer and the tax officer. Given below chart based on the latest judicial pronouncement will help to reduce such confusion. 

SN	Items	Included in Turnover	Excluded in Turnover
1	Foreign currency transactions	CIT v. Tata Elxsi Ltd. 382 ITR 654
2	Income from sale of scrap, export incentives, interest income and gains on exchange rate fluctuation	Wipro Ltd. v. Deputy CIT 382 ITR 179  Watson Pharma P. Ltd. v. Deputy CIT VOL 37 PG 97 GE BE P. Ltd. v. Asst. CIT 371 ITR 32
3	Only freight, telecommunication charges or insurance attributable to delivery of computer software outside India or expenses incurred in foreign exchange in providing technical services outside India to be excluded from total turnover. Also Travelling expenses.		CIT v. Hewlett Packard Global Soft Ltd 381 ITR 99   Aptean Software India P. Ltd. v . ITO VOL 41 PG 246   Cypress Semiconductor Technology India P. Ltd. v. Deputy CIT VOL 39 PG 468   Tektronix Engineering Devt. India P. Ltd. v. Deputy CIT VOL 39 PG 212   ACIT v.Think Soft Global Services (P.) Ltd 34 ITR 633
4	Lease line charges excluded from export turnover--To be excluded from total turnover		Sun Life India Service Centre P. Ltd. v. Deputy CIT-VOL 43 PG 511
5	Travelling expenses incurred in foreign currency to be reduced both from export turnover and total turnover		iNautix Technologies India P. Ltd. v. Asst. CIT -          VOL 42 PG 324 McAfee Software (India) P. Ltd. v. Dy. CIT VOL 40 PG 574
6	Expenses excluded from export turnover to be excluded from total turnover		Deputy CIT v . WS Atkins India P. Ltd. VOL 41 PG 397   Dy. CIT v . Timken India Manufacturing P. Ltd. VOL 41 PG 208   e4e Business Solutions India P. Ltd. v . Dy. CIT VOL 41 PG 90   Torry Harris Business Solutions P. Ltd VOL 40 PG 256
7	Profits arising out of fluctuation of rates of foreign exchange--Form part of export turnover-	Universal Precision Screws v. Asst. CIT VOL 38 PG 233
8	Sale of scrap--Proceeds not includible in turnover		Universal Precision Screws v. Asst. CIT VOL 38 PG 233

 

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Online Correction facility for TDS statements filed in form 26QB

Please click the link below to read the complete article.


https://taxofindia.wordpress.com/2016/04/06/online-correction-facility-for-tds-statements-filed-in-form-26qb/

Income tax return of AY 2016-17.

Please click the link below.




https://taxofindia.wordpress.com/2016/04/01/cbdt-notified-new-income-tax-return-forms-for-a-y-2016-17/

India Taxes- Due Date Alert for the month April 2016

https://taxofindia.wordpress.com/2016/03/31/india-taxes-due-date-alert-for-the-month-april-2016/

TDS on Provision for Expenses

Please click on the link below.


https://taxofindia.wordpress.com/2016/03/29/tds-on-provision-for-expenses/

MAKEFICOEASY: Vendor Master Data

MAKEFICOEASY: Vendor Master Data: Business transactions are posted to accounts and managed using those accounts. You must create a master record for each account that you re...

Declare your bank interest income as per form 26AS.

Please click the link below to read the complete article.


https://taxofindia.wordpress.com/2016/03/28/declare-your-bank-interest-income-as-per-form-26as/

Steps for e-Filing of Form 15H/G

To read the post,  please click on the link below.


https://taxofindia.wordpress.com/2016/03/22/steps-for-e-filing-of-form-15hg/

MAKEFICOEASY: Accounts Receivable and Accounts Payable:

MAKEFICOEASY: Accounts Receivable and Accounts Payable:: Overview The Accounts Payable application component records and administers accounting data for all vendors. It is also an integral p...

Duties and Power of Board

Duties and responsibilities of the Directors of a company, particularly the public limited companies, have been explicitly and lucidly stipulated in the new Indian Companies Act of 2013, which were rather obscure in the earlier CA-1956. These duties and liabilities of both the general Directors and the 




To read the complete article, please click the link below


https://taxofindia.wordpress.com/2016/03/16/duties-and-power-of-board/

REMINDER: Daily Tax Alert.

Dear Sir,

Since, taxbymanish had been moved to new platform of taxofindia, we request you to please register once your E mail ID at https://taxofindia.wordpress.com/ to receive the daily tax updates.

Sorry for the inconvenience caused. 

With Regards

 

TaxbyManish

TDS RATE CHART FINANCIAL YEAR 2016-17 (ASSESSMENT YEAR 17-18)

To get the TDS/TCS rate, please click the link below.


https://taxofindia.wordpress.com/2016/03/04/tds-rate-chart-financial-year-2016-17-assessment-year-17-18/

India Budget 2016 Bulletin

To Read the Budget Bulletin - Please click the link below.


https://taxofindia.wordpress.com/2016/03/01/income-tax-amendment-personal/ 


https://taxofindia.wordpress.com/2016/03/01/service-tax-important-amendments/