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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:

2014
  • CBDT has launched a new online Tax Calculator for computing annual I-T liability which can now be emailed to personal inboxes of taxpayers before returns are filed by the end of this month.
  • The Tax Calculator is a computer based programme hosted on the web-based platform of the I-T department and is meant for the aid of the taxpayer before they file their final Income Tax Return (ITR).
  • The calculator is updated every fiscal after budget and is calibrated by the Central Board of Direct Taxes according to the new announcements made by the Finance Minister in respect of tax rates.

2014

Wage Ceiling limit will be enhanced from 6,500 to 15,000 for PF purpose

Please find circular issued by EPF Department in relation to increase of wage threshold limit.

attachmentEnhancement of Wage Ceiling – No. 9235, Dated:14.07.2014

Financial Management