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We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

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Presentation on theme: "We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like."— Presentation transcript:

1 We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like a slice of a wholesome pie. NEWSLETTER –APRIL 2013 TM

2 INDEX Direct Taxation Indirect Taxation Corporate and Other Laws International Trade and FinanceTradeFinance Statutory Due Dates for April 2013StatutoryDueDatesApril Newsletter –April 2013 TM

3 DIRECT TAXATION IndexIndex E-filing must for those earning more than Rs. 5 Lakh Taxpayers with annual income of over 5 lakh will now have to file their returns in electronic form. The threshold limit for e-filing of returns was 10 lakh last year. The e-filing allows for faster processing of income tax returns and settlement of errors and omissions. Even the wealth tax returns will now have to be filed electronically. This is a move towards using technology so that the interface between Assessing Officer and assessee is minimised. CBDT lays out rule for Captive R&D Centers India has streamlined the taxation treatment for the IT sector in a bid to make the country an attractive destination for software development and research and development (R&D). The Central Board of Direct Taxes has laid down conditions for a development centre in India to be treated as a contract R&D service provider with "insignificant risk". This will address the problems created by the divergence of views among the field officers and taxpayers regarding the functional profile of development centres engaged in contract R&D services for the purposes of transfer pricing audit. Newsletter – April 2013 TM

4 INDIRECT TAXATION IndexIndex Due date for filing online service tax return again extended The CBDT vide order no.1/2013 – Service Tax dated 6 th March 2013 extended the date of submission of Form ST 3 fore the period 1 st July 2012 to 3oth September 2012 from 25 th March 2013 to 15 th April 2013. Newsletter – April 2013 TM

5 CORPORATE AND OTHER LAWSIndexIndex Interest rates on PPF & SCSS, 2004 revised The Government of India vide OM No. 6-1/2011dated 25th march 2013 advised the rate of interest on various small saving schemes for FY 2013-14. Accordingly the rate of interest on PPF will be 8.7%p.a. and on Senior Citizen Saving Scheme (SCSS) 2004 will be 9.2%p.a. Newsletter – April 2013 TM

6 INTERNATIONAL TRDAE AND FINANCEIndexIndex India and Mauritius narrow down differences on DTAA India and Mauritius have narrowed down their differences on matters related to the three-decade-old Double Tax Avoidance Agreement (DTAA) and all contentious issues will be resolved in the next meeting of the Joint Working Group (JWG) in April. Two round of meetings of the JWG have already taken place and the third round of the JWG will take place soon. JWG have narrowed down the areas of divergence. The next meeting has been fixed for sometime in April to resolve issues which will be beneficial and acceptable to both sides. Newsletter – April 2013 TM

7 STATUTORY DUE DATES FOR APRIL 2013 Index Index Statutory Due Dates Calendar for April 2013 Newsletter – April 2013 Due DateStatutory Compliance 5 th March 2013Payment of Service Tax/ Excise duty 7 th March 2013Payment of TDS 15 th March 2013Payment of Provident Fund contribution/ Profession Tax 15 th March 2013Payment of Advance Income Tax 21 st March 2013Payment of ESIC/ MVAT TM Due DateStatutory Compliance 5 th April 2013Payment of Service Tax/ Excise duty 30 th April 2013Payment of TDS 15 th April 2013Payment of Provident Fund contribution/ Profession Tax 25th April 2013Filing of Service tax Return 21 st April 2013Payment of ESIC/ MVAT

8 Get in Touch www.nyaasa.com +91.98228 70043 +91.98231 18326 +91.20.3234 1738 +91.20.6500 8738 contact@nyaasa.com

9 Newsletter –April 2013 THANK YOU ! TM


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