Net direct tax collection down 48% in Apr—May

Advocate V.Sridharan, lawyer, Supreme Court, dealt with various issues in Service Tax relating to the Commercial or Industrial Construction Service, Refund of Service Tax and Other Practical Issues, Good and Service Tax and overview at the ICAI one-day workshop on ‘Service Tax' organised by the Ernakulam Branch of The Institute of Chartered Accountants of India. He spoke extensively on the topics ‘Issues in Service Tax on Real Estate Transactions,' ‘Cenvat-Credit, Refund and Other Issues' and ‘Road Map to GST.' Various queries regarding online registration and e-Filing returns were cleared by him. There was also a Panel Discussion on Service Tax which was led by Mr Thomas P. A., Superintendent of Central Excise, and Mr Aravinda Raj, Inspector, Excise Department. Mr Saji Mathew, Chairman, presided over the function. Mr Mathukutty P. P., Vice-Chairman, Ms Minu Mathew, Secretary, and Mr Balagopal R, Managing Committee member of the Ernakulam branch, addressed the delegates. - www.thehindubusinessline.com

Income Tax returns mandatory for all candidates facing polls in India

The Election commission (EC) on Wednesday made it mandatory for all the candidates to furnish Income Tax (IT) returns before entering the polls. 

The Election Commission has brought out a new nomination affidavit. 

Candidates will now have to fill a six-page affidavit including details of inherited property along with his or her nomination papers. 

The IT returns and details of properties of the spouse and all the dependents of the candidates will also have to be furnished. 

The EC has taken the decision in consultation with the Central Board of Direct Taxes in order to curb the use of blackmoney and illegal wealth in the electoral process. 

Elections will be held in West Bengal, Assam, Tamil Nadu, Kerala and Pondicherry between April 4 and May 10.