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Tax Collected At Source For Cars Can Have A Big Impact.
Tax collected at source for cars can have a big Impact.
The process of tax collection at source is a bit different from a tax deduction at source. Tax consultant firm in Delhi
There is going to be new way which an individual is going to feel that impact of a tax that is adjusted in their payments.
Read more at: http://bit.ly/1UzmEwp
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Analysis of Indirect Tax Dispute Resolution Scheme 2016 (IDRS)
Indirect Tax Dispute Resolution Scheme 2016 (IDRS) has been introduced by finance Act 2016, vide Chapter XI.
Who can apply?
Any person whose appeal is pending before commissioner (Appeals) can opt for this scheme except the following cases when,
(a) The impugned order offence punishable under the Act has been instituted before the 1st of June 2016
(b) Prosecution for any offence punishable under the Act has been instituted before the 1st day of June 2016, or
(c) The impugned order is in respect of any offence punishable under the Indian Penal Code, the Narcotic Drugs and Psychotropic Substances Act, 1985 or the Prevention of Corruption Act, 1988 or
(d) Any detention order has been passed under the Conservation of Foreign Exchange and prevention of Smuggling Act, 1974
Process of Declaration and getting relieving order:
(a) Any person opts for the scheme shall apply in Form 1 (in duplicate) in respect of the amount payable under the scheme on or before 31st December 2016
Intimate about Payment
(a) Declarant should intimate the designated authority in Form 3 within seven days of making such payment giving the details of payment made along with proof thereof.
For more information : Click AT: Indirect Taxation firm in India
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