income tax return due-date-AY-2015-16-extended-to-31.08.2015.

Income Tax department has notified the ITR form AY 2015-16 but after representation from public against the new columns and information in new forms Now new simplified forms has been notified . Further a new ITR-form 2A has also been notified. CBDT in his press release mentioned that as the software for these forms is under preparation, they are likely to be available for e-filing by 3rd week of June…

INCOME TAX- For TDS & TCS – Nine Amendments shall be effective from 1st June 2015–

1. Requirement for obtaining evidence/ particulars by employer for TDS–Section 192 -Prescribed form from employee to be obtained for his claims. 2. TDS from premature withdrawal from Employees’ Provident Fund Scheme (EPFS)–Sections 192A and 197A – Trustees of RPFs shall, at the time of payment of the accumulated balance due to the employee, deduct tax at source at the rate of 10%, where the aggregate withdrawal is R30,000/- or more.…

Service tax rate increased from 12.36% to 14%

Service tax rate increased from 12.36% to 14% (Subsuming EC and SHEC) effective from 01.06.2015. After the Hon’ble President has given assent to the Finance Bill, 2015 on Thursday, May 14, 2015, the Ministry of Finance, Department of Revenue vide Notification No. 14/2015-ST dated May 19, 2015 has notified increase in the rate of Service tax from 12.36% to flat 14% (Subsuming Education Cess and Secondary & Higher Secondary Education…