Tuesday, April 30, 2013

BL >"Aam Aadmi yet again remembered ! Taxmann > 'Finance Bill 2003- Changes, et al !


Monetary policy for the aam aadmi

Anti-inflation policies should be based on food and fuel price movements, not ‘core inflation’ figuresThe RBI should assess inflation on the basis of consumer rather than wholesale prices. »

".....the difficult task of choosing between growth and price stability."

Aam aadhmi is sure to have been left extremely bewildered ! He is reminded of a street dog foolishly gyrating in a never successful attempt to bite a flea (fly!) sitting pretty on its own tail-end,- kind of a vicious circle!
Point worth pondering : Is it not the very same 'growth', patently of a cancerous type largely being experienced, in the ultimate analysis, directly responsible for the adverse  impact and impairment of the ideology  of ‘price stability’ , despite being  stressed and aspired for, day-in and day-out, unwittingly or otherwise,  by the so called experts- let alone the rest be they  the commonly come-across literates or illiterates, not excluding  the neo modern day wonders - illiterate literates? (Sorry for ‘NO’ BREAK!)

Posted: 29 Apr 2013 08:32 PM PDT
Import of challan file (.csi file): Import of challan file downloaded from the TIN website (Challan Status Inquiry) has been made mandatory at the time of validating the quarterly TDS/TCS statement, if the TDS/TCS is deposited through challan. This will be applicable in case of regular statement...
Amendment by Lok Sabha to Finance Bill, 2013
  • The Lok Sabha, passed the Finance Bill, 2013-14 today with various key amendments which are as under:
  • 4) Deductor isn’t required to obtain TAN in case of deduction of tax at source from payment made for acquisition of immovable property.
  • 6) Non-resident referred to in Section 194LC will not be penalised for not having a PAN.
  • 7) Even gold coins weighing less than 10 gms will be subject to TCS.
  • 8) No wealth-tax on agriculture land
TAN not required to deduct tax from payment made for purchasing an immovable property
A new section 194-IA is inserted by the Finance Bill, 2013 to provide that transferee is liable to deduct tax at source at 1% from payment being made to a resident-transferor in respect of purchase of an immovable property.The Finance Bill, 2013 approved of the provisions of Section 194-IA. However, it provided an exemption to the transferee from obtaining a TAN, which is otherwise a mandatory requirement for deduction of tax at source.

No comments:

Post a Comment