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2014

BASICS

  • There are only two certain things in life – Death and Taxes.
  • A lot of planning goes into taxes.
  • Yet in India, apart from a life insurance policy, not enough thought goes into death.
  • The reason for this could be cultural.
  • Indians are superstitious and believe that talking or planning about something means that will happen.
  • Well guess what, Even if u don’t discuss about death, it will happen!

2014
  • A new facility has been started in TDSCPC website to update declaration for non filing of TDS statement for deductors.
  • Deductors can update status of TDS/TCS statement to non-filing online after login at TDSCPC website.
  • The benefit of this facility is that instead of filing nil TDS/TCS return for a particular quarter/period, one just need to update the status to non filing of return.

2014

Happiness is all about gaining a sense of Proportion & Perspective

Zindagi Na Milegi Dobara …

This message is beyond all Relationships …
When I’ll be dead..,your tears will flow,.. But…I won’t know…

2014
  • Vide Notification No. 32/2014 dated 23-06-2014, CBDT has made mandatory filing of Wealth Tax Return only by electronic means for certain persons including Company and an assessee being individual or HUF who is liable to audit u/s 44AB.
  • From Assessment Year 2014-2015 onwards, Company and an assessee being individual or HUF who is liable to audit u/s 44AB are required to furnish Form BB (Return of Net Wealth) electronically under digital signature. Some of the important points are :
    • New wealth tax return form BB (E-Filing) shall be applicable from assessment year 2014-15 for Years Prior to this Form BA will continue to remain applicable.
    • E filing of wealth tax return is mandatory for all type of persons for assessment year 2014-15 onwards except for Individual / HUF to whom provision of section 44AB (tax audit) is not applicable in assessment year 2014-15.

2014

Joined at the Hip — two sentences connected with a comma

  • One critical rule where we often fail to recognize the ploy, because of defective punctuation.
  • For example: Solapur is a small city with a large population, this results in a great deal of traffic congestion.
  • This is really two sentences joined at the hip that need to be separated, using a semicolon or employing different phrasing.
  • Here are two common ways to correct the problem:

Financial Management