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

BL                                                                         A. SESHAN Monetary policy for the aam aadmi The 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!) SG TDS – New File Validation Utility (FVU) version 2.133 – Key features / Download 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...   Taxmann 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 (Click here to view full document) (Click here to view amendments made by Lok Sabha) 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.