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You are here: Home / Business & Economy / India Income Tax Updates Feb 2014

Business & Economy

India Income Tax Updates Feb 2014

Today (06-03-2014) is last day for deposit of service tax of Feb 2014 through e-payment. Deposit TDS/TCS by 07-03-2014(Friday). No need to deduct TDS on ST portion of bill.

Delhi high court in the case of Larsen and Turbo has allowed the writ requiring issuance of a show cause before an order is made for special audit in case of any dealer.

The central board of excise and customs vide Notification 12/2014-Central Excise (N.T.) dated 03-03-2014 has now provided the procedure for filling refund application by service provider of unutilized Cenvat credit availed on inputs and input services received on and after 01-07-2012.

Allotment letter or payment of first installment has entitled the assessee to claim a long term capital gain [Mrs. Madhu Kaul Vs CIT, ITA No. 89 of 1999, Date of Pronouncement: 17-01-2014, High Court of Punjab and Haryana].

EPFO’s apex decision making body, the Central Board of Trustees (CBT) headed by labour minister had decided to raise interest rate on PF for the current fiscal to 8.75% from 8.5% paid in 2012-13, in its meeting held on 13 January.


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