A blog to provide updates on Income Tax, Kerala VAT, Corporate Affairs, Service Tax and other matters such as general economic affairs.
Thursday, 29 October 2015
Saturday, 24 October 2015
Tuesday, 20 October 2015
Filing of Awarder Return - Kerala VAT (Sales Tax) - Basics
FILING OF AWARDER RETURN UNDER KERALA VALUE ADDED TAX
1. The dealer must get a separate TIN No and Password from the concerned sales tax office in order to file the awarder return.
2. There is a separate link in the Kerala Commercial Tax Department site to login as an awarder.
3. Every awarder including a department of State Government and Central Government must file a Statement in Form No 10C showing the details of works contract awarded during every quarter.
- For Quarter 1 - (April - June) - 10th day of July
- For Quarter 2 - (July - September) - 10th day of September
- For Quarter 3 - (October - December) - 10th day of January
- For Quarter 4 - (January - March) - 10th day of April
4. Every awarder shall deduct the tax from the payment made to the contractor and pay to the assessing authority concerned.
5. Awarder shall issue a certificate in Form No 20F to the contractor and the Contractor shall issue a certificate in Form No 20G.
Monday, 19 October 2015
How to track the Income Tax Challan Status Online
Step 1 Click the following link
https://tin.tin.nsdl.com/oltas/
Step 2 You can Click either
(a) CIN based View or
(b) TAN based View
Step 3 Type BSR Code, Challan date, Challan Serial Number and Amount
Step 4 You can Check whether payment has been confirmed for your challan
Saturday, 17 October 2015
Sukanya Samriddhi Yojana
SUKANYA
SAMRIDDHI YOJANA
Sukanya Samriddhi Yojana has been introduced vide Government of India Notification
No. G.S.R.863(E) dated 02.12.2014 to promote the welfare of girl children
Features:-
Ø
Account Opening:- >> A natural or legal guardian on
behalf of a girl child.
>> Account can be opened till the girl child attains the 10
years of age.
>> Account can be opened in Post Offices
and notified branches of Commercial branches.
>> Birth Certificate of the girl child must be submitted at the time of opening
of account.
Ø Number of Accounts:- Up to two girl children
Ø Amount of Deposit:- Minimum Rs. 1000/- initial deposit with multiple of Rs.100/-
with annual ceiling of Rs.1,50,000/- in a financial year.(No
restriction in number of deposit in a financial year).
Ø Tenure: - 21
years from the date of deposit
Ø Maximum Period of Deposit:- 14 Years
from the date of opening of account.
Ø Interest on Deposit:- Current
Rate 9.20%
Ø
Transferability:-The account can be transferred from
one bank/post office to another anywhere in India.
> Tax benefits u/s 80C :- (1) Amount of Deposit made.(Claimed
by the legal guardian whose name enters
in SSY Account)
(2) Interest Accumulated.
(3) Final Proceedings.
Ø
Account Closure:- After the girl child attains the age of 18 years, 50%
of the balance standing at the credit of the account at the end of the
preceding financial year can be withdrawn for the purpose of
marriage/education. Account can be closed after completion of 21 years.
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