The government has lowered interest rates on loans for affordable housing, extended a tax holiday given to industrial parks, and Home loan Cover your loan with insurance Plan your finance with a budget Tax deduction on home loan lifted the tax burden off road repair costs, adding to the four existing stimulus packages in its [...]
Archive for the ‘Featured’ Category
Posted in 
File your Tax Returns in 3 Easy Steps
Posted by admin on July 28th, 2009
If you’ve passed the hurdle of paying taxes in the month of March, then the next task at hand is to file your Income Tax Returns – a necessity that most people consider a chore, or don’t quite know how to go about. We’re going to address this misconception, and describe to you how easy [...]
RBI Credit Policy Leaves Key Rates Unchanged
Posted by admin on July 28th, 2009
The RBI has kept the key rates unchanged and increased the inflation forecast to 5 per cent. The GDP is expected to grow at 6 per cent and the money supply growth is seen at 18 per cent, according to the quarterly review of the economy, released on Tuesday. The deposit growth is seen at [...]
Services Covered under BAS Cannot be Classified as C&F Agent Service
Posted by admin on July 16th, 2009
SUMMARY OF CASE LAW The activity of marketing agents was brought under the tax net with effect from 1-7-03 when BAS was introduced; same services could not be classifiable under C&F Agent Service for any previous period as the scope of C&F Agent service was not modified when BAS was introduced in the Finance Act, [...]
CBEC to Move SC for Service Tax on Commercial Property Rent
Posted by admin on July 11th, 2009
The Central Board of Excise and Customs (CBEC) is planning to go for appeal before the Supreme Court after the Delhi High Court struck down the imposition of service tax on commercial property rent. The CBEC claims that the process of letting out a property for commercial purposes counts as a service rendered and there [...]
Checking Status of Income Tax Refund
Posted by admin on July 8th, 2009
The refund banker has been implemented from January 24, 2007. The refund banker facility is initially operational for taxpayers assessed in specific charges in Delhi, Patna, Bangalore, Chennai, Mumbai and Kolkata and all taxpayers (excluding corporate and exemption charge) of the six cities i.e. Delhi, Patna, Bangalore, Chennai, Mumbai and Kolkata are covered under the scheme.
A Status of the refund can also be tracked by contacting the help desk of SBI at 080-26599760.
