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2015
  • Due date for filling of Income Tax Returns has been extended form 31-8-2015 to 7-9-2015 for Gujarat State, vide CBDT Notification dtd: 31-8-2015.
  • Notification is attached herewith.

2015
  • With the Income Tax Department becoming net savvy and going online, it has become very easy for them to identify discrepancies in your papers and to keep a close eye on almost every financial transaction. Therefore, while filing return, one needs to be extra careful. Any wrong details furnished might put you in trouble.
  • From past few years, almost every taxpayer is receiving notices from Department. Now, it has become important that every provision and clause of tax laws shall be strictly abided. There are few reasons due to which notices are being issued and these reasons are very common among taxpayers.

2015
  • In order keep an eye on small assessees, who usually don’t fall in the ambit of service tax audits, CBEC has issued circular 185/4/2015- ST wherein check-list & revised guidelines for carrying out detailed manual scrutiny of service tax returns have been prescribed.
  • Highlights of the manual has been produced here under:
    1. To be made effective from 1st Aug’15 onwards;

2015

How to Convert Facebook Profile Into A Business Page

  • The method is very simple as there will be no need to individually invite all your friends to like your page when you convert the Facebook profile into the page. So just follow up some of simple steps below to proceed.

Before migration:

  • First, let me back up and explain. You need to download your Facebook profile information because not everything will move to your new business Page when the conversion is completed. The only items transferred over will be your current profile picture and your current friends and subscribers (who will be converted to Likes). You’ll also keep your current username.

2015

Greece Sovereign Debt Crisis

What is sovereign debt crisis?

  • A sovereign debt crisis is generally defined as economic and financial problems caused by the inability of a country to pay its public debt. This usually happens when a country reaches critical high debt levels and suffers from low economic growth.
  • On 30th June 2015 Greece missed its deadline to repay the International Monetary Fund 1.6 billion euros ($1.7 billion) and hence triggered sovereign debt crisis.

2015
  • Filing your income tax returns was once a cumbersome task. With things gone online, the process has become much easier over the years. But, there’s always a possibility of making silly errors. Here’s a list of a few errors you might make inadvertently. Read on, so you won’t make the same.
  • 1. Getting numbers wrong: The most common mistake tax filers make while filling in is giving incorrect PAN and TAN. Double check these numbers without fail.
  • 2. Mistakes in bank details: The second one is bank account number(s). Tax payers often make silly mistakes while putting the IFS code of their bank branch. Refunds are no longer issued by cheque but through ECS. Therefore, it is essential to ensure submission of correct bank details, like the full digit account number. Also, ensure that the bank account mentioned on the form is an operating account. From this year, one has to mention all operational savings and current accounts held. You don’t need to mention inoperative accounts – that have been inactive for more than three years.

Financial Management