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Munimji

Blog

Feb10

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.

Archive


Categories

Feb03

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.


Jan27

2014

It is important to know everything about Permanent Account No., i.e., PAN.
Following are some FAQs on PAN which serves useful guidance. Just go through it. Its very interesting.

Jan20

2014

The CBDT has decided that wherever in terms of the agreement/contract between the payer and the payee, the service tax component comprised in the amount payable to a resident is indicated separately, tax shall be deducted at source on the amount paid/payable without including such service tax component.


Jan13

2014

Online presentation tools like SlideShare and more …


Can you believe it? It’s been more than 25 years since the launch of PowerPoint. In that time, people have both loved and hated it. However you feel about it, most business people need some way to deliver a presentation. The good news is that you’re no longer lilted to PowerPoint for this purpose.


There are dozens of online tools that either work with PowerPoint files or let you start from scratch to create and deliver presentations that will wow your audience.


Jan06

2014

Interim Budget and Vote on Account

  • This year, there won’t be an annual full length budget but there will be a Vote on Account popularly known as interim budget.

Need For Budget

  • It is not that the Government can tax, borrow and spend money the way it likes, since there is a limit to the resources. An annual budget is an exercise through which the government puts forth provisions to raise money and spend money. In doing that, it seeks the parliament’s approval to spend the requisite amount of money. The Parliament then Votes for or against the proposals and the finance bill gets passed. This whole process begins on 28th Feb When the Finance Minister makes the budget speech and goes on till 31st March, When the bill is passed in the parliament.

Financial Management