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2014

Know Your Budget

  • The Constitution of India refers budget as the Annual Financial Statement.
  • In other terms the word “budget” has no where been used in the constitution.
  • The Budget is a statement of estimated receipts and expenditure of the Government of India in a financial year which begins on 1st April and ends on 31st March.

2014
    • Important Guidelines for payment towards liability on account of Tax Deducted / Collected at Source (in accordance with CGA Rules and Rule 125 of Income Tax Act).
    • Your attention is drawn towards some relevant guidelines related to payment of TDS/ TCS liability.

      A. Central Government Account ( Receipts and Payments ) Rules, 1983:

2014
  • This year, there is change in Forms 15G / 15H.
  • Hence, please check and use latest form.
  • Format of the same is enclosed.

2014

This is what Bhagwan Shri Krishna wants to tell in Geeta Updesh:


Hey Parth,


Increment nahin mila, bura hua …
Salary cut ho raha hai, bura ho raha hai …
Retrenchment hoga, woh bhi bura hi hoga …

2014
  • As per Finance Bill of 2013, TDS is applicable on sale of immoveable property wherein the sale consideration of the property exceeds or is equal to Rs 50,00,000 (Rupees Fifty Lakhs).Sec 194 IA of the Income Tax Act, 1961 states that for all transactions with effect from June 1, 2013, Tax @ 1% should be deducted by the purchaser of the property at the time of making payment of sale consideration.Tax so deducted should be deposited to the Government Account through any of the authorised bank branches.
  • Facility for furnishing information regarding the transaction of sale of immoveable property and payment of TDS thereof is available on this website.

2014
 

It’s not the fall that kills you. It’s the sudden stop at the end.


I couldn’t repair your brakes, so I made your horn louder.


Hot glass looks same as cold glass. – Cunino’s Law of Burnt Fingers.


Financial Management