Owner: simple tax india URL:http://simpletaxindia.blogspot.com Join Date: Sun, 20 Jan 2008 04:00:16 -0600 Rating:0 Site Description: to understand Indian taxes in easy way and to serve Indian tax payer community at large by providing them various free day to day use tax form in excel like challan, ITR, other return forms.And providing interesting stuff/ link available on net.and how to Site statistics:Click here
Wish all of you a Colorful HOLI 2008-03-21 10:40:06 Send this eCard ! Apun wishing you a wonderful,Super-duper,Zabardast, Xtra-badhiya,Xtra special,Ekdum mast and dhinchak, Bole to ekdum jhakaas “Happy Holi”.Download Our Free Toolbar
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PAY LESS SHORT TERM CAPITAL GAIN -HOW? 2008-03-23 21:18:05 Dear friends ,As you know in budget 2008 ,our Finance Minister has increased the short term capital gain on share transaction, on which securities transaction tax (STT) has been paid, from 10% to 15 % .This has been done under section 111A for indian resident and under section 111d for FII from Assessment year 2009-10.what was in section 111AAs per section 111Aif a person's total income includes Short term capital gain from transfer equity shares or unit of a equity oriented fund andSTT has paid on transferthan rate of tax will 10% flat and on other income of the assessee tax will be calculated as if such balance amount is total income of the assesseehowever in case of HUF and Individual if assessee balance income is less than the total exemption limit than such short-term capital gains s
SIXTH PAY COMMISSION REPORT SUBMITTED 2008-03-24 12:57:20 Full Download: 6th CPC Report | Annex Studies Terms of Reference View ResponsesMAIN FEATURES:* High performers to get 3.5% increment against normal 2.5%* Enha
SIMPE TAX INDIA -WELCOME 2008-03-30 07:53:44 Hello FriendsWe are here to share knowledge with Tax payers and basic Funda about taxes ,we doesn't claim ourselves as Expert,so please verify from your consultant before relying upon the information given on this blog.The basic aim is to tell about things which is available on net but some how we don't know about it ,like we have a very popular service know your pan address with input as dob and pan and many more .we will browse net for you and give you extract of useful things on your desk top through email or through our tool bar.Download our free tool bar which has facility likeupdates from our blogs,google searchuseful link like verification of pan,tax calculators,useful day to day formsintra simple tax community message without writing emails.single click income tax act,rules,notific
NEW ITR FORMS 2008-09 NOTIFIED 2008-03-30 06:40:13 The CBDT has notified the new ITR forms for Assessment Year for 2008-09however the software speceification for efiling of return has not notified yet and will be notified in due cource. ITR-1 (in Regular Font) ITR-1 Instructions For Individuals having Income from Salary & Interest ITR-1 (in Large Font) 2 ITR-2 ITR-2 Instructions
KNOW ALL ABOUT PAN,VERIFY PAN ONLINE 2008-04-01 13:32:07 WE HAVE PROVIDED FIVE /SIX TRICKS TO VERIFY THE PAN,AS YOU MAY KNOW THAT INCOME TAX DEPT HAS GIVING PAN VERIFICATION FACILITY FOR BULK PAN VERIFICATION TO PERSON FOR 1000 P.M. PER ID WE HAVE PROVIDED YOU SOME TRICKS HOW TO VERIFY PAN FREE.IF YOU ARE NOT ABLE TO DO/FOLLOW THE TRICKS GIVEN BELOW THAN SEND US DETAILS ,WE WILL DO THE SAME FOR YOU FREE...........FIND/VERIFY YOUR PANCASE :1New Update :21-02-2008:Friends as written that there are two more way to verify pan earlier but stopped working from 15/1/08 but now again one of them is working again,so i will tell how you can know pan name in simple method.this facility is actually to print challan form but while print challan from after filling pan in the form and after submission of submit button pan /tan name will be shown if pan/tan
INCONSISTENCY IN QTRLY ETDS/ETCS STATEMENT 2008-04-01 12:51:49 Directrote General of Income tax(systems) is serving letters regarding inconsistency in the quarterly etds and etcs returns submiited by assessees.Formats of Table showing inconsistencies is given below.provisional receipt no of original statement quarter form no total no of deductee records in statement count of deductee pan (structurally valid) not present in ITD database count of missing pan (PANNOTAVBL, PANAPPLIED, PANINVALID) Total no of challans in the statements results of challan matching challan fully matched Match Failed CIN IN Statement not found in bank data amount does not matched different TAN in challan & statement amount +TAN MISMATCHED www.simpletaxindia.blogspot.comWording of the letter
HOW TO DEPOSITE ONLINE INCOME TAX 2008-03-30 22:18:24 As I have earlier written that income tax payment online would be mandatory from January 1,2008BUT THE DATE HAS BEEN NOW 1/04/08PRESS RELEASE HAS BEEN ISSUED BY CBDT READ THIS.So one should also interested in how to make e payment of taxes through internet.in my view internet payment is easier than manual payment(deposit in bank branch).The basic advantages are given below.In e payment of taxes ,there is no need to issue a cheque or deposit cash for taxes.No need to download software or purchase income tax challan form.Your Pan /Tan will be verified from income tax database .so less risk for wrong deposit of taxesNo Q,instant receipt of challanchances of uploading wrong data by Bank Employees will reducedand there are other benefit also. Now lets know how to make e payment of tax.you can
ONLY CA CAN AUDIT UNDER MVAT-BOMBAY HIGH COURT 2008-04-09 10:47:10 In a decision that will affect the lawyers specialising in Sales Tax laws as well as former Sales Tax officers' who work as sales tax practitioners, Bombay High Court has held that only Chartered Accountants (CAs) can audit and certify accounts for traders. Hitherto, traders had to hire only sales tax lawyers or former sales tax officers as advisor's in tax matters. But a recent amendment to Maharashtra Value Added Tax Act made it mandatory for traders with sale of over Rs 40 lakhs to get their accounts audited and certified by a professional CA. The amendment specifies that only a CA can audit the account. It allows lawyers and other sales tax practitioners to represent traders before sales tax commissioner and tribunals, but not to audit accounts. Various organisations, including Bar Co
PAY TAX ONLINE-NO OPTION LEFT-RBI 2008-04-12 20:29:20 Dear friends,As you may know that E-PAYMENT OF TAXES has been madeMANDATORY FROM 1.04.08 for certain category of tax payers i.e1.All Corporates.2.person other than corporate but covered under section 44ab(compulsory Tax audit)The e-payment means pay the taxes through net facility /internet/net banking or Credit or Debit card .Payment Facility to taxes through credit and debit card is yet to be finalised by the banks though allowed by income tax deptt. /CBDT in his circular/rules.Now RBI has come up with a circular to implement the scheme and instruct the banks "not to receive payment from the corporate assesse in physical challan at all".In circular its is strongly written in bold letters that"Assesses who's pan's 4th digit is "C" can not deposit tax in to bank branches manually,Physical
ETDS 24 Q ANNE II SALARY REURN COLUMN HOW TO FILL. 2008-04-14 00:17:05 Hi, I am in the process of filing up all the details for salary using a software... in that software the deductions tabs are for section 16 (ii), 16 (iii) and deductions under chapter VI-A. so where do i put deductions for allowances under travel allowance (Rs 800) and HRA calculated for different heads................Somendra DaroliaAns:you will be surprised to know that in annexure II q4 form 24 (ETDS RETURN FOR SALARY) the above detail are not required to be shown at all so there is no question of in which column it is to put.I am not familiar with your software but as per NSDL etds performa there are number allotted to each column ,I think in software also there are numbers against each column ,so please refer column 332 in this column put the salary income net of all deduction and add
TOOL BAR FOR CA (ICAI COMMUNITY) 2008-04-17 10:23:27 Dear Member ,we have created a tool bar the main features of the tool bar is given below.Toll Bar has already been downloaded by members.direct link to online calculatorsemiloan interest/emi/amount/periodfixed depositannuityrecurring deposit calculatorDownload NowDirect link to know yourpanpan application status(nsdl)pan application status utitantan application statusservice/excise tax codetax deposited/deducted/collectedDownload NowMain Features of Tool barSearch powered by GOOGLE clickDirect link to ICAI websiteDirect link to ouR groupS and list of recent Message with linkImportant link in ICAI websitedirect link toincome tax actincome tax rulesincome tax notificationitr and challan form (FROM MY BLOG)service tax actservice tax rulesservice tax forms (from my blog)s
TAX PRO CHALLAN 2008-09 WITH ADVANCE TAX AND 5 IN ONE CALCULATOR 2008-04-20 07:24:06 This software has combination of three softwares(21.4 MB)TAX PRO CHALLAN FY 2008-09ADVANCE TAX CALCULATOR FY 2008-09 AY 2009-105 IN ONE CALCULATORDETAIL OF EACH SOFTWARE ARE AS UNDERTAX PRO CHALLAN FY 2008-09Features:Maintains Assessee Index and Master data with innovative presentation and unlimited Assessee .Automatically fills up every challan with Assessee Master data.Stores the challan for every Assessment Year.Master Data can be imported from existing freeware TaxPro Challan s/w.Challans can be printed on plain paper .Automatic calculations like totaling, add, less, percentage, etc, while filling challan.All Challans (Challans 280, 281, 282 and 283) can be printed with Barcode Support for PAN & TAN .Challan Register can be maintained for all saved challan and facility to view det
ITR EXCEL 2008-09 AY SOFTWARE RELEASED 2008-04-21 11:33:50 Dear friends,e-filing of Income tax return for Assessment Year 2008-09 has been been started.Intially it has been started for three forms .All the three Return preparation Utilities (RPU)software are excel based.you can use them as efiling software or you can also use them as manual return preparation and can print it for record .All the rpu use Macro in M S Excel so before using it set enable macroand set security setting accordingly to use the same.so start using efiling nowyou can download e-filing RPU(SOFTWARE) for ITR from belowITR-1 EXCEL:For Individuals having Income from Salary/ Pension/ family pension & Interest RELEASED ON 15/04/08ITR-2 EXEL:For Individuals and HUFs not having Income from Business or Profession RELEASED ON 21/04/2008ITR-3 EXCEL :For Individuals/HUFs
eTDS RETURN -WRONG NAME BUT CORRECT PAN 2008-04-24 21:58:33 I HAD SUBMITTED THE QTR I TDS RETURN WHERE WE WRONGLY MENTIONED THE PARTY NAME BUT PAN NO. WAS RIGHT, FOR EXAMPLE INSTEAD OF ASSOCIATE I HAD WRITTEN INTER PRISES. THE QUESTION IS: MAY I MANAGE THE IT WITHOUT REVISE THE TDS RETURN. IF YES THAN HOW......?IF YES, THAN WHAT ABOUT 16A CERTIFICATE?WILL I HAVE TO REVISE THE QTY I TDS RETURN. ...........Sewak RamAns:First of all ,we should know what will be done by deptt after receiving the return.After receiving the return deptt computer software follow the following stepscheck for challan we have given in the etds return if challan data and compare the data given by us and uploaded by the banks in which we have deposited the tax ,this matching is done on three para meters and technically called as CIN(challan identification number) this is consi
FAQ's for RTGS / NEFT 2008-04-25 23:59:43 What is Inter Bank Transfer?
Inter Bank Transfer is a special service that allows you to transfer funds electronically to accounts in other banks in India through:
NEFT - The acronym...
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TDS ON RENT 194-I NOT INCLUDING SERVICE TAX 2008-05-01 20:18:24 A long awaited clarification regarding tds on payment of service tax on rent u/s 194-I has been Issued by the CBDT.Details about the issue is given hereunderBrief about section 194-IRent is to be deducted by all person on payment of rent except huf and individual who's sales is less than limit specified in section 44AB(tax audit)(40 lacs for business 10lac for professionals)Rent means any payment by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of(a) land; or(b) building (including factory building); or(c) land appurtenant to a building (including factory building); or(d) machinery; or(e) plant; or(f) equipment; or(g) furniture; or(h) fittings,section is applicable even in case of payee is owner or not.Rate of tds isFo
I NEED YOUR WISHES 2008-05-09 23:01:35 DEAR FRIENDSTODAY(10 MAY) IS MY MY BIRTHDAY ,I NEED YOUR GOOD WISHES ,SO SEND WISHES ON EMAIL GUPTARAJIN2002@YAHOO.CO.IN OR RECORD YOUR MESSAGE IN COMMENT SECTION.THANKS IN ADVANCE
DISALLOWANCE U/S 40(a)(ia) TDS DEFAULT ALLOWED 2008-05-11 22:59:19 DEAR FRIENDSGood News for all of us.While passing the finance bill 2008 as provision relating to section 40(a)(ia) has been amend to give us relief from minor tds deduction defaults from retrospective effect from assessment year 2005-06 means since inception of this controversial amendments.what was the position earlieras per section 40(a)(ia) all the expenses u/s 30-38 will be disallowed iftds ha
SERVICES TO ASSOCIATED ENTERPRISES TAXABLE 2008-05-11 09:49:47 Earlier the services provided to "customers" and "clients" are taxable but now in budget a new provision has been inserted in which it is stated that services provided to associate enterprises are also taxable and to give effect to this provision a amendment has been done that service tax is payable on receipt of credit in the book of accounts .this amendment will be applicable from 10.05.2008.
BUY HOUSE SAVE CAPITAL GAIN ON SALE OF HOUSE 2008-05-16 07:20:33 Dear Friends,In this post I am trying to cover all the issue related to saving of tax under section 54 of Income tax act-1961 ,if any issue left of you have a different opinion than our you may please record in comment section.As per section 54 capital gain arising from the sale of the long term residential property can be saved if we buy or construct a residential house property for long term f
TAX DEPOSITED BY CHEQUE BEFORE DUE DATE BUT REALISED AFTER DUE DATE?? 2008-05-21 05:35:52 The question before us is"if tax is deposited on or before due date through cheque but en cashed after the due date ,whether it can/will be treated as "defalt in payment?" First of all I take clear provisions regarding the above question.Service TaxAs far as Service tax is concerned the position is very much clear .As per service tax rules 1994 rule 6 (2A) if the service tax has been deposited
SAVE TAX:LONG TERM CAPITAL LOSS FROM SHARES? 2008-05-21 21:55:56 By reading the title of the post you will be thinking that there is no tax on long term capital gain on shares then what is the relation between tax saving and long term capital loss?But after reading the next few lines you will definitely understand the trick(tax planning tip).The trick is legitimate method to save the tax.Brief Provision of Tax on LTCG on sharesTo understand this tip first of al
FREE INCOME TAX ACT E-BOOK 2008-05-24 03:52:13 FREE E-BOOK ON INCOME TAX ACT UPDATED BY FINANCE ACT 2008DOWNLOAD INCOME TAX RULES(COMING SOON)DOWNLOAD TOOL BAR FOR CA'S
INCOME TAX RULES 2008 E BOOK FREE 2008-05-25 22:39:43 Download free e book on Income tax rules 2008 up to date .just fill the simple form and you will be guided to download page.so start downloading now.this book is complte and u can use them after down load ,total download is only 2.5 mb ,once downloading is complete no need for internet connection more .books are updated upto new Finance act .You can also get it printed and can save notes in them
HOW ONE CAN CREATE HUF(HINDU UNDIVIDED FAMILY) 2008-05-27 20:07:48 Though every body is interested in this question and this question has been asked by many and generally not have any answer in text book also ,why it so ?The answer is very Interesting that the above question is wrong the correct question is"how we can create capital for Huf 'we can not create Huf but can arrange capital for it"Till the time the HUF has an empty kitty,it is like a balloon that no
CST RATE REDUCED TO 2 % FROM 01.06.2008 2008-05-30 19:10:57 Dear Friends ,Long awaited CST rate Notification has been issued yesterday ,according to which CST rates Has been Reduced To 2% w.e.f 01.06.2008. Full Notification text Has been given below"On the basis of the discussions between the Empowered Committee (EC) of State Finance Ministers and the Union Finance Minister regarding the compensation package, the Government of India, Ministry of Finance, D
CHALLAN TENDER DATE ,PAYMENT BY CHEQUE 2008-06-01 13:04:49 Ques:Banks are not giving challan tender date in case of payment by cheque but giving date of clearing of the cheque,Now if we have deposited the cheque before the due date but cheque cleared after due date what are the proof we have regarding challan tender date ?Ans:I have collected the latest position of law regarding payment of taxes by cheque,you may read that also .regarding above question
KNOW PAN FROM TAN (TRICK) 2008-06-10 10:44:38 Dear Friends ,As you aware of that in etds return 85% /95% pan are required to be filled at least.And some times after sincere efforts we are not successful in getting the pan of the person ,I have explained many trick in my famous post know your pan now i have come up with new trick by which you can know pan detail of a person if you haveName of the personNature of the person (individual,firm,com
TDS PROVISIONS IN BRIEF 2008-06-13 18:25:04 KNOW TDS(TAX DEDUCTED AT SOURCE) PROVISIONS AT A GLANCE
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