Author: SREENU .T
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Authorized banks for e-payment procedure
e-Payment facilitates payment of direct taxes online by taxpayers. To avail of this facility the taxpayer is required to have a net-banking account with any of these Authorized Banks.
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Insurance companies can now invest in AIF-IRDA
Insurance Regulatory and Development Authority (IRDA) permits insurance companies to invest in Category I & Category II Alternative Investment Funds (AIF) related to infrastructure and SME sectors. By a Circular dated March 18, 2013, insurers are permitted to invest in Category I & II AIFs under the extant SEBI Regulations. The permitted Funds in Category…
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Due date for payment of service tax
Individuals/partnership firms Due date- 5th of the month immediately following the respective quarter in which service is provided. If payment is made through internet banking, due date– 6th of the month immediately following the respective quarter in which service is provided. However, for the quarter ending 31st March, the due date of payment of service…
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What are the consequences for not paying Service Tax?
Penalty for late filing of Service Tax Service tax are to be paid before due date in order to free from penalty, if, service tax is filed after the due date a penalty up to Rs 10,000 may be charged[sec. 77(2)] According to section 7C of Service Tax Rules, 1994 late fee is payable as…
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NRI’s looking to buy property-while rupee falls-ASSOCHAM survey
The Rupee’s sharp dip against the US dollar has made temptations for non-resident Indian (NRI) to buy property with realtors expecting an increase of 35% in business enquiries from the expatriates this year, reveals the “Associated Chamber of Commerce and Industry of India” (ASSOCHAM) recent findings.Releasing the ASSOCHAM paper on “Falling Rupee sparks property boom…
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RBI appeals to pay Income Tax in advance
The Reserve Bank of India has appealed to public to avoid last minute rush and remit their Income-tax dues sufficiently in advance of the due date of September 30, 2013. It has also urged the assessees to take advantage of paying taxes at select branches of accredited agency banks which have been authorised to accept…
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SPMCIL Organised workshop on Customer Satisfaction
SPMCIL as a part of its initiatives toward Customer Orientation organized a one day workshop on Customer Satisfaction on 05.08.2013 at India Security Press (ISP) Nashik. The workshop was organized in backdrop of Customer Satisfaction Survey carried out by SPMCIL through M/s Genesis Management and Market Research Pvt. Ltd., (GMMR) Pune for its various Products…
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Is saving account interest is taxable?
With effect from assessment year 2013-2014,a new section 80TTA hasbeen introduced for providing deduction for interest income.sec. 80TTA provides that, any interest income derived from deposits in a savings account (not time deposits) will be allowed as deduction. Interest income up to Rs 10,000 in aggregate shall be allowed as deduction while computing Total Income.…
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CIBIL tv advertising campaign-to teach the need for credit score
Credit Information Bureau of India Limited (CIBIL) launches tv advertising campaign-to teach the need for credit score of individuals while applying for loans and crredit cards.CIBIL’s rating measures one’s ability to pay back thier loans and other dues. Higher rating ensures faster loan approval.CIBIL Credit Information Report (CIR) empowers both loan providers and individuals to…
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What to do if you have complaint against Insurance Company
You may fell often that you are being cheated by the insurance company, or you are not happy with the quality of service then, you can make complaint against insurance company.If you are unhappy with your insurance company .Approach the Grievance Redressal Officer of its branch or any other office that you deal with. Give…