Daily Archives: August 10, 2015

Insurance premium paid from loan funds is allowed as deduction

By | August 10, 2015

Question : Whether the Insurance premium paid from loan funds is allowed as deduction u/s 80 C / Life insurance premiums, even if paid out of loan funds and not out of income chargeable to tax, are eligible for deduction under section 80C IN THE ITAT COCHIN BENCH Goutham Reddy v. Income-tax Officer, Ward -2, Kottayam… Read More »

e Tourist Visa

By | August 10, 2015

The Government of India has launched e Tourist Visa on November 27, 2014. The scheme has been extended to 77 countries at nine airports designated for providing e-Tourist visa service till now. The Centre is now going to extend this facility to 36 more countries from August 15, 2015. The new countries being included in… Read More »

Increase in Transport Allowance for Central Govt employees

By | August 10, 2015

Increase in Transport Allowance for Central Govt employees wef 01st April 2015  No. 21(2)/2015-E.II  (B) Government of India Ministry of Finance Department of Expenditure New Delhi, Dated- 6th August, 2015 OFFICE MEMORANDUM Subject:-Grant of Transport Allowance to Central Government employees. Reference is invited to Ministry of Finance, Department of Expenditure O.M. No. 21(2)/2008-E.II(B) dated 29th… Read More »

CA Certificate not required for certain remittances: Govt

By | August 10, 2015

CA Certificate not required for certain remittances: Govt Press Information Bureau Government of India Ministry of Finance 07-August-2015 17:45 IST Modifications in Foreign Exchange Regulations Government has recently modified the Foreign Exchange Management (Current Account Transactions) Rules, 2000 and the Liberalized Remittance Scheme (LRS) for resident individuals for further liberalizing the existing guidelines. Accordingly, all… Read More »

Service tax on Renting of immovable property by State Government

By | August 10, 2015

Question: Whether service tax law would apply even in respect of services rendered by a State Government ? As per section 65B(37), person  is defined as including  Government – Hence, service tax law would apply even in respect of services rendered by a State Government, unless services fall under negative list of services HIGH COURT OF KERALA… Read More »