How to rectify and avoid interest default in Payment of TDS and How to calculate interest on TDS defaults
Posted Date : 18-Sep-2011 , 04:45:32 am | Posted By
Vikas
Income Tax Department displaying defaults in TDS returns filed on its websitewww.tin-nsdl.com (TAN registration login). The defaults will be raised as & when processed and will be kept updated in this area. It will be in a Zipped Excel sheet (no password) and quarter wise separate files ...
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Category : Income Tax |
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Payment of Service Tax on accrual basis
Posted Date : 18-Sep-2011 , 04:44:00 am | Posted By
Vikas
Service tax is paid on billing basis or accrual basis since the Point Of Taxation Rules 2011 has been introduced. It is mandatory for all service provider to pay service tax on accrual basis since July 2011 except professional.
The purpose of this amendment is that the payment of servi...
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Category : Service Tax |
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1 | Hits : 1712 |
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Default in TDS & CARO
Posted Date : 18-Sep-2011 , 04:43:20 am | Posted By
Vikas
TDS is always a controversial issue for every assessee. Considering the defaults in TDS by deductor and disclosure of the same by auditors in CARO and Tax Audit Report, a question arises about a default for which one can have some different view. Take example:
A company (deductor) has ...
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Category : Income Tax |
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Role of Capital
Posted Date : 18-Sep-2011 , 04:42:40 am | Posted By
Vikas
Capital market plays an extremely important role in promoting and sustaining the growth of an economy. It is an important and efficient conduit to channel and mobilize funds to enterprises, and provide an effective source of investment in the economy. It plays a critical role in mobilizing saving...
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Category : Shares & Stock |
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LIST OF REQUIREMENTS FOR THE EXCISE REGISTRATION:
Posted Date : 18-Sep-2011 , 04:42:01 am | Posted By
Vikas
1. Name of the company ______________________________________
2. Address in full reg. _________________________________________
3. Constitution _____________________________________________
4. Pan number of company ______________________________________
5. Telephone no. of Co. ___________...
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Category : Excise |
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The Foreign Contribution (Regulation) Act, 2010 has come into effect from May 1, 2011.
Posted Date : 18-Sep-2011 , 04:41:15 am | Posted By
Vikas
The FCRA Rules, 2011 have come into force simultaneously with FCRA, 2010.
Salient Features of the Act
.
1. Any association granted prior permission or registered with the Central Government under Section 6 or under the repealed FCRA, 1976, shall be deemed to have been granted prior permi...
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Category : International Business |
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Audit procedure of Manufacturing company
Posted Date : 18-Sep-2011 , 04:36:41 am | Posted By
Vikas
1) Brief history about the clients nature of business:
First of all if u want to carry an audit to any manufacturing company, U should have a brief knowledge about the client’s nature of business, what are the activities they are carrying, what is the procedure they are following while ma...
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Category : Auditing |
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Chartered Accountancy through the words of Sri Bhagwat GITA
Posted Date : 18-Sep-2011 , 04:35:12 am | Posted By
Vikas
While going through the path of life we receive, aspire and reshape both our intellect and our perception. Astonishingly we deceive our own self, yet consider our self to be correct and righteous. A Popular saying goes “Between Right and Wrong there is a trouble some grey area”.
...
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Category : Students Zone |
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Criteria / Guidelines for Income tax Scrutiny for Assessment year 2010-11
Posted Date : 18-Sep-2011 , 04:34:03 am | Posted By
Vikas
Guideline has published for selection of case for Scrutiny during AY 2010-11, these guideline / criteria has been submitted by AO to range officers.
Selection criteria Applicable to all return at all stations
a) Value of International transaction as defined in 92B exceeds 15 Crore.
...
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Category : Income Tax |
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TDS Provision
Posted Date : 18-Sep-2011 , 03:40:11 am | Posted By
Vikas
One of the most disputed arguments between assessee and income tax department is that whether payments made towards specified expenditure attracts disqualification u/s 40(a) (ia) and applicability of this section to provisions made at the year end and its implications. Following are the views exp...
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Category : Income Tax |
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Process for Name Change in Listed Companies
Posted Date : 18-Sep-2011 , 03:29:58 am | Posted By
Vikas
1.Hold board meeting and consider about name change and authorise the CS for filing of Form 1A and Form no. 1B
2.Intimate the SE about the proposal.
3. File form no.1A
4. On receipt of new name confirmation hold another board meeting for
Affixing date, time and venue of General M...
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Category : Corporate Law |
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IMPLICATION AND SUMMARY OF SECTION 58A TO PRIVATE COMPANIES:-
Posted Date : 18-Sep-2011 , 03:24:05 am | Posted By
Vikas
As per the provisions of Section 58A of the Companies Act, 1956; a private company can accept Deposits only from its Shareholders, Directors and there Relatives.
Meaning of “relative” (As per Section 6 of the Companies Act, 1956) :
A person shall be deemed to be a relative o...
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Category : Corporate Law |
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Tax Audit for Individual Tax payers
Posted Date : 18-Sep-2011 , 03:23:12 am | Posted By
Vikas
September month is a Tax audit month. Tax audit is popularly known 44AB audit. This article is intended to give insight on 44AB & help individual Tax payers (other than professionals) who are under 44AB audit with list of documents needed for tax audit & caveats on 44AB. This audit has to...
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Category : Income Tax |
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The entries are suggested in financial books without contradicting service tax :
Posted Date : 18-Sep-2011 , 03:22:09 am | Posted By
Vikas
The following entries are suggested in financial books without contradicting service tax:
1) When the invoice for providing services is raised to customer.
A)
Sundry Debtors A/c ---------------------------Dr
(By full amount of invoices)
To Service Receipts A/c (Revenue) ----...
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Category : Service Tax |
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Systematic Investment Plan
Posted Date : 18-Sep-2011 , 03:20:29 am | Posted By
Vikas
The market revolutionary change happened, achieved fame and many of us heard of it without knowing much about it.
Unfortunately, many new investors seem to be under a misconception that it is a type of mutual fund. A Systematic Investment Plan is not a type of mutual fund; it is a method of inv...
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Category : Finance |
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SOME ISSUES PERTAINING TO C FORMS UNDER CST ACT 1956
Posted Date : 18-Sep-2011 , 03:16:27 am | Posted By
Vikas
C Forms Under CST ACT 1956
SOME ISSUES PERTAINING TO C FORMS UNDER CST ACT 1956
Under CST Act 1956 there are lot of Forms and declarations which help in saving CST on the interstate transactions. C form is an important and foremost common among dealers registered under CST Act 1956 enga...
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Category : VAT |
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Indian Bechara Tax Ka Maara !!!!!!!!!!!!
Posted Date : 17-Sep-2011 , 01:33:12 pm | Posted By
Arun Yadav
1) Qus. : What are you doing?
Ans. : Business.
Tax : PAY PROFESSIONAL TAX!
2) Qus. : What are you doing in Business?
Ans. : Selling the Goods.
Tax : PAY SALES TAX!!
3) Qus. : From where are you getting Goods?
Ans. : From...
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Category : Income Tax |
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2 | Hits : 616 |
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CA is not Pressure Cooker
Posted Date : 15-Sep-2011 , 08:16:16 pm | Posted By
Anand
Hello Everybody,
Today I wanted to share and touch a burning topic connected with our lives, our studies, our attitude and thinking and our families. Over a period of time I have observed that exam success has become such a stress full and pressure build...
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Category : Students Zone |
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2 | Hits : 637 |
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APPRAISAL PROCESS.....................EXCELLENT TIPS....
Posted Date : 14-Sep-2011 , 05:38:34 pm | Posted By
Akanksha Handa
Big Boss: This year your performance was good, excellent and outstanding. So, your rating is "average".
Kumar: What? How come 'average'?
Big Boss: Because...err. ..uhh...you lack domain knowledge.
Kumar: B...
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Category : General |
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1 | Hits : 486 |
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Useful information
Posted Date : 12-Sep-2011 , 11:32:20 am | Posted By
Neha Jain
Dear Friends,
The following information about OTC (Over the counter) medicines are very important for our knowledge and precautions.
India has become a dumping ground forbanned drugs; also the business and producti...
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Category : General |
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0 | Hits : 640 |
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