Gandhi & Gandhi

20/05/2015

The increase in rate of service tax from 12.36% to 14% is effective from June 1, 2015. Education Cess and Secondary Higher Education Cess should no longer be charged on 14%.

To understand whether a particular service should be charged at old rate or the new rate, we need to check the following simple steps:
There are three important events to determine the applicable rate:
1. Date of raising an invoice.
2. Date of Receipt of payment.
3. Date of rendering of taxable service.

If any two events of the above three occur before June 1, 2015, the effective rate of service tax shall be 12.36%. In all other cases, the effective rate of tax is 14%.

29/04/2015

The new Income Tax Return (ITR) format has been put into revision and it is on the drawing board again. A special team of officials from the CBDT is working on it in consultation with the Income Tax and Revenue department officials. The new and simplified ITR forms are expected to be notified soon after getting clearance from Finance Ministry.

28/04/2015

Central Board of Direct Taxes (CBDT), has introduced a new column in the ITRs for 2015-16 where an e-filer can provide Aadhaar number which will have to be authenticated on the official website of the department via a One Time Password (OTP).
A new EVC, ie. Electronic Verification Code, has been included as the new mode to verify e-returns. The facility will soon be hosted on the website of the e-filing link of the department. The taxpayers no longer need to send the ITR-V paper document to the CPC in Bengaluru, thus ending the cumbersome process.

24/04/2015

Finance Minister Arun Jaitley discusses on Goods and Services Tax Constitution Amendment Bill in the Lok Sabha today for discussion and passage.

27/03/2013

35 years. What a journey! Thrilling and satisfying. So many clients who appear to me very happy and satisfied with us. Many of the clients who have stayed with us for such long years, built strong relationships with us.

And a terrific, dynamic, energetic and committed team.

Immensely satisfying. Thanks everybody for being on the journey. And being with us. We appreciate and value the relationships.

26/03/2013

Today our firm, Gandhi & Gandhi, completed 35 years of its journey.
The 35 successful years of journey was made easy and possible by everyone associated with the firm, now and earlier.
On this occasion, I would take this opportunity to sincerely thank:
• the Founder Ajay Gandhi - for his vision, ideology, enterprising approach, guidance
• the Partners – for joining and working in sync with the founder in spearheading the organisation to the level it has reached without compromising the values systems
• the Staff, both present and past – for their commitment to the firm and their valuable services
• the Articled Trainees, both the past and the present – for adding strength to the organisation and maintaining the tradition and culture
• the Clients – for the trust imposed on our commitment to quality service
More than the position and place I earned during my journey, I am blessed to have several unforgettable memories and persons, whom I cherish to have as part of my life.
Each day taught me a new lesson and empowered me with knowledge.
I sincerely thank one and all for the continued support in the thick and thin we have seen during these years. I wish that the support will continue to take us to yet another height.
Ram
March 26, 2013.

21/03/2013

Tax havens, and how they help companies save billions in taxes. Interesting article.

Headquartered in a former Rothschild chateau in an affluent Parisian neighborhood, the Organization for Economic Cooperation and Development is best known for earnest conferences on economic and social policy.

02/03/2013

The other day I saw a friend take out a life insurance policy for a large sum. He then started complaining of the huge financial commitment he had made, an annual commitment at that. I was surprise...