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Feb 9, 2013

Service tax on payment received through PayPal by Software Freelancer

India-Sweden tax treaty amended to cover exchange of banking information as well

Posted: 08 Feb 2013 11:00 PM PST

The Convention and Protocol between the Government of the Republic of India and the Government of the Kingdom of Sweden for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital (DTAC) was first signed here on 24th June 1997.

CBDT – Delay in filing of SLP in Supreme Court – fixing of responsibility

Posted: 08 Feb 2013 10:58 PM PST

I am directed to say that the delay in filing of SLP is a serious cause of concern. One of the reasons for delay in filing of SLP is inordinate delay in receiving the SLP proposals in the Directorate of Legal & Research. Even after conveying the concern of the Board in this regard, it is...

Service tax on payment received through PayPal by Software Freelancer

Posted: 08 Feb 2013 10:53 PM PST

In my earlier write up Applicability of Service Tax for Software Freelancer, I had mentioned that if the service is provided to non-taxable territory, Service Tax is not leviable. Receipt of payment in convertible foreign exchange is no more a pre-condition on and after 01.07.2012.

Procedure of SSI (Small Scale Industries) Registration In Punjab

Posted: 08 Feb 2013 10:25 PM PST

SSI stands for Small Scale Industries. A small scale industry (SSI) is an industrial undertaking in which the investment in fixed assets in plant & machinery, whether held on ownership term or on lease or hire purchase, does not exceed Rs. 1Crore. However, this investment limit is varied by...

Taxation on Fixed Deposits

Posted: 08 Feb 2013 10:18 PM PST

If your only source of income is interests on bank fixed deposits, impact on the Tax Deducted at Source (TDS) will be more if you are not managed the TDS efficiently. TDS is the tax deducted at the time of paying the income to you. It is applicable to the salaried employees, bank fixed deposits,...

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