M. GovindarajanService tax issue is the emerging one in the indirect tax matters. It opens the field to the professionals more to practice. In the proceedings before any quasi-judicial system, the pri..

Monarch Bhatt-The glimpse of service tax proposals forms the subject- matter of this article.Nothing is certain but death and Tax- Benjamin Franklin 1. Economy may be good or bad, there may be any pro..

V. S. Datey 1. Budget 2009 was presented before Parliament on 6-7-2009. The major changes in indirect taxes are summarised below:2.1-No change in existing rate of service tax - Existing rate of servic..

A limited liability partnership—which is a form of business organisation in which the liability of the ‘partners’ is limited to the extent of their interest in the partnership, owing..

M. Govindarajan1. Section 68 of the Finance Act, 1994 provides that the every person providing taxable service to any person shall pay service tax at the rate specified in section 66 of the Act in suc..

T. N. Pandey 1. Section 115JB of the Income-tax Act, 1961 provides for levy of Minimum Alternate Tax (MAT) in case of what are popularly referred to as Zero tax companies. Uptill the assessment y..

This will include having a financial statement or income tax return prepared twice as well as a record of how well they have been paying their bills to other businesses, suppliers and vendors. But eve..

HMRC will advise the new tax code change from 543 to 603 which was announced in May 2008 and the date the new tax code to be applied which is expected to be September 2008. The amended tax code is ent..

1: Tax Advantages Business Deductions.To qualify as business deductions, expenses must be reasonable and necessary. Taxpayers are required to keep accurate books and records. The records should be co..

The parade of promises is marching down Main Street. For too many months to come, politicians of all descriptions, parties, and ideologies will be courting our votes... they have the cure for all that..

The employment status of a worker can be a veritable minefield for an employer if the wrong decision is made. Should an employer decide the status of a worker is self employed and treat that worker as..

Employers and especially new employers who may not be experienced with operating a payroll system enter a business area with tax rules and procedures with which they may not be familiar. The most comm..

PAYE is the common abbreviation for the Pay As You Earn scheme that was first introduced by the UK in 1944 as a tax system by the inland revenue which employers administer to deduct from employees wag..

If you are an employee your employer has a legal responsibility to operate a paye scheme and provide the employee with regular payslips a P60 end of year certificate and a P45 showing details of gross..

Every new employer engaging an employee must register for paye. An employee is anyone who works on a full time, part time or casual basis for the business and includes company directors. When you enga..

Mastering the pay as you earn tax system is an essential function carrying with it substantial adherence to legislation and the needs and motivation of its employees. Choosing good small business payr..

An essential feature of any payroll solution is the inclusion of an employee details worksheet in which simple details are entered for each employee such as name and address, income tax code, national..

One of the key secrets to tilting the tax laws in your favor is to own your own business and shift the taxing structure to your advantage. In this article, we are going to cover just a small fraction ..