Daily Archives: May 23, 2016

Service Tax on educational services

Service Tax on educational services (After Finance Act 2016)  Service tax is Payable on Educational Services except when they are specifically covered in the Mega Exemption list vide NOTIFICATION NO.25/2012-ST as amended from time to time or covered in the negative list of services Mega Exemption from Service Tax on educational services or when services are relating to… Read More »

KRISHI KALYAN CESS w.e.f 01.06.2016

KRISHI KALYAN CESS Salient Features of Krishi Kalyan Cess Krishi Kalyan Cess, imposed by Finance Act 2016 by inserting new Chapter-VI Krishi Kalyan Cess, @ 0.5% on all taxable services, Krishi Kalyan Cess will come into force w.e.f 01.06.2016 Input Tax credit of Krishi Kalyan Cess will be available for payment of this cess Krishi Kalyan… Read More »

Alternate Train Accomodation Scheme

ALTERNATE TRAIN ACCOMMODATION SCHEME   In peak seasons, popular trains of Indian Railways have very heavy waiting list, even when Special trains introduced by Railways have vacant berths due to the fact that the general public is most of the time not aware of these special trains/non popular trains. To overcome this problem Alternate Train… Read More »

Immunity from imposition of penalty Section 270AA

Section 270AA of Income tax Act 1961 Salient Features of Section 270AA regarding  Immunity from imposition of penalty, etc The assessee can make an application, in the prescribed form and verify the same in prescribed manner, from the end of the month in which assessment order under section 143(3) of the Act or reassessment order… Read More »