Vat and the Central Taxes in Mumbai, India
1. INTRODUCTION:
Â
1.1Â Â Â Â Â Â Â Â Â Â VAT Council of States, the body of State Finance Ministers and Standing Council of Commissioners have agreed that the VAT should be implemented all over India from 1-4-2001. However, subsequently, after taking into consideration the fact that the groundwork is still in progress, the date has been extended to 1-4-2002. One thing is certain that the word âVATâ [Value Added Tax] is a symbol of Globalisation and Liberalisation, which is a universal phenomenon for the current age is bond to be implemented in India.
Â
2.SUCCESSFUL TAX SYSTEM:
Â
2.1Â Â Â Â Â Â Â Â Â Â Among many other things, the successful tax system always tries to avoid cascading effect of the tax. The VAT, being Value Added Tax, it presupposes that, if the… Continue reading
Doing Taxes With Online Tax Filing Services
Since more and more people are filing their income taxes each year, people wish to have simple and easy option to pay taxes. One of the recent most popular ways of filing your return is through the application of the Internet. Doing online tax is not only easier but also accurate compared to paper filing.
Using the Internet, you can now file your taxes online for free. If you surf the internet, you will see that there are many companies offer online tax service. You can file your return for free if you use software online, but some may charge you little for e-file. So, you need to choose such tax preparation services carefully before filing your return online.
You can file your return with Tax Specialist which allows you… Continue reading
Why To Choose An Online Tax Filing Option?
How to pay taxes is a major issue that most taxpayers have to deal with. There is an old and typical way that most people have been using so far is paper filing. It’s somewhat tiresome and as well as time-consuming process. On the contrary, there is online tax filing option you can choose for your task.
More and more people are turning towards doing taxes online because of certain reasons. If you’re an internet savvy, and are good at calculations, then you can easily prepare taxes on your own. As most people favor this method of filing taxes online, tons of companies have come on the surface offering online tax service options. If you explore the internet, you will see that most of the services claim to offer… Continue reading
Payment of Residential and Commercial Property Taxes in Texas
April 19, 2009
http://www.propertytaxfunding.com/
Property Tax Payment
Taxing units usually mail their tax bills in October. The date of delinquency is normally February 1st. If you have not received your tax bill by January 1st, you should contact your tax assessor to determine the amount owed.
Property tax bills often include more than one taxing jurisdiction because some taxing jurisdictions combine their collection operations. Likewise, certain properties will be subject to multiple taxing jurisdictions collected by different assessors. Contact the central appraisal district for your respective county to determine the taxing jurisdictions which apply to your property. Many county central appraisal districts now post their property tax data online.
If you escrow taxes and insurance, then your mortgage company… Continue reading
Online Tax Filing – The Best Option For Doing Federal Taxes
The moment you get your W-2 form in your mail, you need to decide how to do your taxes. If you wish to receive your IRS refund fast, then nothing is better than online tax filing. What you need to do during the tax season is to determine how to prepare your return file and how to submit it to the IRS so that you will have your refunds faster.
There are couples of reasons because of which most people are doing online federal tax. Even the IRS recommends doing taxes online using free software. If you are regularly in habit of doing it online, then you will have a record of it. So, you can easily track online your each year’s tax record if you have some questions… Continue reading
Online Tax Preparation – 5 Benefits Of Filing Taxes Online
Online tax preparation provides you with an easy and safe way to file your taxes. Some accountants have been using this online method to file for their clients for two decades. Between the IRS and some private tax services, online tax return filing has now been updated to accommodate the requirements of individuals as well as businesses. 1. Saves Your Time and MoneyOnline tax preparation saves your time and money. You will save your time because you can fill in your information using online software without writing all your information manually with your hand. You can save your money by paying less for online services compared to hiring a professional that might be unaffordable to you. You can also think of using free e-file services available. By filing… Continue reading
Tax Credit To Help Atlanta HomeBuyers
Tax Credit To Help Atlanta HomeBuyers In the midst of one of this countries deepest recessions comes one of it’s greatest opportunities, for new homebuyers. With mortgage rates and housing prices at an all time low, there has never been a better time to buy a new home. And The American Recovery and Reinvestment Act of 2009 has provided yet another tool to help Atlanta families on the road to homeownership. Along with securing a home loan and a good real estate agent, Atlanta Homebuyers should begin planning now to take advantage of a new tax credit that will supplement, or even provide, the downpayment for that new home. The following section will provide questions and answers to help new homebuyers understand… Continue reading
Is Online Tax Lien Investing For You?
One of the biggest concerns for new tax lien investors is how can they purchase tax liens without going to the tax lien auction. Many people donât have the time freedom to attend the tax sale and not every state conducts tax lien sales. What if you live in a state that does not sell tax liens, or if you donât live in the United States, how can you invest in tax liens?
Thatâs why a lot of new tax lien investors are attracted to the idea of buying tax liens online. They want to be able to purchase tax liens from their computer without having to attend a physical tax sale auction. Itâs easy to register and bid at these tax sales online and many counties also… Continue reading
Prepare Taxes Using Online Tax Software Programs
The process of preparing taxes is often stressful because you have to deal with tax forms and several tax documents. However, there are online tax preparation services providing tax filing services online. You can use free tax return filing software programs available for doing taxes.
So, when it comes to file your taxes, you can search for tax return software or get a professional tax preparer to do taxes for you. Usually, you’ll notice that tax preparers have the least experience when it comes to filing tax return. So, before choosing a professional, think properly because you have to pay him fees.
You’ll also come across certain individuals licensed by The IRS. Unlike tax preparers, an enrolled agent can well represent you at an audit. The Certified Public Accountant goes… Continue reading
LEVY OF SERVICE TAX ON EXTERNAL COMMERCIAL BORROWINGS FROM FOREIGN BRANCH OF AN INDIAN BANK
1. Service tax authorities, of late, have been issuing notices to various borrowers of External Commercial Borrowings (ECB’s) from foreign branches of Indian banks and holding them liable to pay <a rel=”nofollow” onclick=”javascript:pageTracker._trackPageview(‘/outgoing/article_exit_link’);” href=”http://www.taxmann.net/STOnlineWeb/NewHomePage/Home.aspx?pId=160″>Service tax</a> from September 10, 2004 under section 65(12)(a)(ix) of the Finance Act, 1994 which covers ECBs.
According to the borrower, the responsibility of paying service tax is of the service provider which is the foreign branch of the Indian bank and, hence, the Indian bank having a permanent establishment in India, is supposed to pay and not the borrower.
The contention of the service tax authorities is partially correct after coming into effect of section 66A of the Finance Act, 1994 from April 18, 2006.
Until the coming into… Continue reading
