Accessing Service Tax Rules, now easier with Taxmann.com

Paying taxes and understanding Service Tax Rules is a complicated task for many of us and more so with the many amendments and Service Tax Circulars that the department comes up with everyday. However, to make the process of filing taxes a lot easier for the citizens there are many online tax calculator services available.

These services use the information being entered by the user about their sources of income and the claimable deductions after which the tax calculator sums up and provides an accurate figure. This process of filing my taxes was a pain and a waste of time taking into consideration the long hours one has to spend with the auditors or online trying to understand the requirements and fill up the required details and avoid any errors. However, this was so only until a friend of mine suggested me to look up the website of the Taxmann.com that offers all kinds of services pertaining to taxes.

This apart the website also has its content sorted out neatly for people looking for additional information about the Service Tax Circulars, Service Tax Rules etc making the site helpful and informative along with being easily accessible to everybody.

How tax adviser help for current income tax rules

Let’s put it this way. I am pretty baffled and confused about Income tax rules . So, the other day I sought an appointment with a tax consultant to understand the norms and implication. What I got to understand that the tax implication is a part and parcel of life. It is equally baffling for me to understand how people make their way easily through the mesh of income tax rules. That too they are pretty adept at handling the intricacies all by themselves. Despite my confusion, I do realize their overwhelming significance. Moreover, the tax consultant is too eager to help me through the deals of calculations.

The bracket of taxation varies from individual to individual. But, as long as you belong to the bare optimum tax bracket, you cannot avoid the bills of taxation. Income tax rules change with the passage of time. This again is done, keeping in mind the interests of one and all. Consequently, it is common to come across a new Income tax act . It is quite important for tax consultants, as well as the payers, to gather factual evidence about the newly passed income tax act. Last time, my consultant briefed me about the implications of service tax notifications.

He further explained how we indirectly contribute to Service tax notifications , despite not being the owner of a service. Entrepreneurs, business houses, as well as, the tax counselors need to be well aware of service tax notifications. Tax consultants have leading roles to offer in helping people like me deal with the prospect of disbursement. Income tax act revised from time to time has to be within their fingertips.

Tax Computation & e-Filing of Income Tax Returns

Tax Computation & e-Filling of Income-tax Returns’ are covering:

*  Computation of income under different heads of Income, i.e., Salary , House Property , Business or profession , Capital gains and Other sources
*  Relief under section 89
*  Auto computation under sections 80G, 111A, 112 etc.
*  Auto adjustment of losses & transfer thereof in schedules CYLA / BFLA / CFL
*  Computation of interest under section 234A, 234B & 234 C
*  Facility to auto generate Tax Audit Forms (i.e, 3 CA to 3 CD)
*  Computation of book profits & MAT
* Instant location and solution to validation errors
*  Facility to generate paper returns

Let Us Share A Compilation Of Best Practices & Orders

We are pleased to announce release of “Let Us Share-A Compilation of Best Practices and Orders, by Income Tax Department.

Let Us Share” was conceived three years ago, as a vehicle for sharing excellance both within the Income-tax Department and with the public. The compilation in “Let Us Share” starts with Vision, Mission & Values’ and the ‘Citizen’s Charter’ which signify the reference points for day to day working of the Income-tax Department. The remaining sections showcase the professional proficiency of the Department in the core area of taxation.

E-TDS Returns (F.Y 2012 -13)

E-TDS Returns (F.Y 2012 -13) Some of the salient features are
  * Unlimited Deductors / Companies, Deductee & Employee
  * Generates eTDS / eTCS Return for Forms 24Q, 26Q, 27Q & 27EQ
  * Generates NIL returns on a single key stroke
  * TDS/TCS Certificate – Forms 16, 16A, 27A & 27D
  Latest Integrated File Validation Utility (FVU) of NSDL for automatic data Validation
  * FVU file generation for Return submission in just on click
  * Instant display of file validation errors at same location
  Option to auto download CSI file during file validation
  Import data from Excel files (optional add-on)
  Online / Offline updation , data backup & restore facilities   Print out various utility reports
  Print out Forms 24Q, 26Q, 27Q & 27EQ for internal records
  * Option of Exporting reports in PDF/ Word/ Excel formats
  Extremely user-friendly Windows based interface.

Taxmann’s Guide to Foreign Direct Investments in India with FDI Policy Effective From 10th April, 2012

Taxmann’s Guide to Foreign Direct Investments In India is a complete and comprehensive Guide to Consolidated FDI Policy issued on 10th April, 2012. 

Liberalisation in industrial policy and policy towards foreign investment in India was initiated in 1991.  The liberal policies introduced in 1991 are continuing and Indian economy is becoming more and more open and liberal every year.

Policy in respect to foreign investment in India (FDI) is regulated by Department of Industrial Policy and Promotion (DIPP) (FC section).  So far, the practice followed was to issue press notes in respect of industrial  and foreign investment policy.  The press notes were scattered and a single policy document was not available.

Service Tax Ready Reckoner

We are pleases to announce release of the Service Tax Ready Reckoner (Finance Bill 2012 Edition). This book will be useful for Corporate Accountants, Chartered Accountant & Service Tax Practitioners.

Standing Committee Report on Direct Taxes Code Bill

A comprehensive analysis of the Recommendations of the Parliamentary Standing Committee on Finance on Direct Taxes Code Bill Showing:

• What the Direct Taxes Code originally proposes
• What Standing Committee now suggested
• What are the implications of the recommendations of the Standing Committee.

Employees How to Save Income Tax

Employees How To Save Income Tax As amended by Finance Act 2011. This edition is for assessment years 2011-12 and 2012-13. The book incorporates:

* Basic concepts
* How to Compute Salary Income
* Valuation of Perquisites
* How to Compute Property Income
* How to Compute Capital Gains
* How to Compute Income from Other Sources
* Know About Some Exemptions, Certain Deemed Incomes and Clubbing Provisions
* Deductions and Reliefs
* Computation of Net Income and Gross Tax
* Computation of Net Tax Payable
* How to Pay Taxes
* File Your Returns of Income
* Assessment and How to Face it
* New Tax Tables
* Tax Planning
* Investment Planner

Students Guide to Cost Accounting & Financial Management

Students Guide to Cost Accounting & Financial Management’ by
CA Bhavesh N. Chandrana. The book is an examination oriented 3-in-1 book for CA-IPCC serving as

Ø Text Book

Ø Fully Solved Question Bank

Ø Past Examination Analyser

With following Salient Features:

Ø Tabular/Bulleted Form Presentation with Conceptual Clarity

Ø Step-by-Step Solutions to Practical Problems with Interactive and Explanatory Notes

Ø Fully Solved Practical Problems Covering more than Past 25 Exams

The practical problems are solved in a unique interactive manner. At the end of each chapter, a unique chapter-wise Exam Analyser incorporated.
The book is best for students of CA-IPCC: