Posted Date : 25-May-2018 , 12:30:03 am | Posted By Chetan

Sec. 2 (13) of CGST Act 2017: It is an examination of records, returns and other documents maintained or furnished by the registered person under this Act or the rules made there under or under any other law for the time being in force...

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Category : GST | Comments : 0 | Hits : 1264

Posted Date : 17-May-2018 , 05:21:12 pm | Posted By CA Chetan Vispute

Section 269ST: (For Detail Video Click on the above link, Video Includes Images with example) Prohibits receipt of an amount of Rs. 2 lakh or more by a person, In aggregate from a person in a day;  or In respect of a single transaction; or In respect of transactions relating to one event...

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Category : Income Tax | Comments : 0 | Hits : 3122

Posted Date : 19-Apr-2018 , 03:12:09 pm | Posted By Monetic$123

In India, the aspiring entrepreneurs have multiple options to choose from including the private limited company, public limited company, limited liability Company, sole proprietorship firm, and partnership.  It is usually quite a task to choose the most suited business structure for bringing yo...

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Category : Companies Act | Comments : 0 | Hits : 1934

Posted Date : 14-Apr-2018 , 01:22:01 pm | Posted By Mohnish Wadhwa

‘Thin Capitalisation’ is a situation where an entity is financed at a relatively high level of debt compared to equity. Some multinational companies engage in aggressive tax planning techniques such as placing higher levels of third party debt in high tax countries, using intragroup loan...

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Category : Income Tax | Comments : 0 | Hits : 1749

Posted Date : 11-Apr-2018 , 08:49:33 pm | Posted By Saloni Dhawan

Payment To Contractors – Section 194C ♦ As per Section 194C, Any person responsible for paying any sum to any resident for carrying out any work (including supply of labour for carrying out any work) in pursuance of a contract between the contractor and a specified person shall, at the ...

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Category : Income Tax | Comments : 0 | Hits : 3814

Posted Date : 20-Mar-2018 , 05:59:53 am | Posted By Bhagyashree Jain

TRUSTS IN INDIA Introduction Trust is defined in section 3 of the Indian Trust Act, 1882 as “an obligation annexed to the ownership of property and arising out of a confidence reposed in and accepted by the owner, or declared and accepted by him, for the benefit of another or of another ...

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Category : CA | Comments : 0 | Hits : 1908

Posted Date : 26-Feb-2018 , 01:43:18 pm | Posted By CS Piyush Jain

We have seen various ways to save Income Tax since ages, but what about this GST, how GST can be saved, How inflow of cash in the firm can be increased, how can I increase my assets and decrease liabilities towards GST department.   So to solve this confusion, I would like to present some of ...

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Category : GST | Comments : 0 | Hits : 2734

Posted Date : 17-Feb-2018 , 11:26:19 pm | Posted By CA Sandeep Dash

Benjamin Franklin once said- “Nothing is certain except for death and taxes”. And to add to this, arguably the smartest man to ever live- Albert Einstein said "The hardest thing in the world to understand is the income tax." Most common folks don't understand death. And taxes too face a...

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Category : Income Tax | Comments : 0 | Hits : 1918

Posted Date : 17-Feb-2018 , 02:09:05 pm | Posted By Ashish Gupta

How The 11,400 cr. Import Ponzi Scam at PNB Unfolded 16 February, 2018 There’s a huge “fraud” at Punjab National Bank, which involves a lot of lies by a lot of people. Here’s where we come in to explain what we think happened. But first, a few important notes: There&rsquo...

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Category : Banking | Comments : 0 | Hits : 1981

Posted Date : 15-Feb-2018 , 05:01:17 pm | Posted By Bhagyashree Jain

Various steps have been taken for removal of unaccounted assets by Government like The Black Money Foreign Income and Asset Act, 2015, Income Disclosure Scheme 2016, Demonetization of high denomination currency, Prime Minister Garib Kalyan Yojna, by amendments in Income Tax Act, by amendments in Mon...

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Category : Income Tax | Comments : 0 | Hits : 1965

Posted Date : 12-Feb-2018 , 12:10:42 am | Posted By Bhagyashree Jain

Electronic assessment, also known as e-assessment, online assessment, computer assisted/mediated assessment and computer-based assessment, is the use of information technology in various forms of assessment.  Finance Minister, Arun Jaitley, also announced of such scheme in his budget speech on ...

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Category : Income Tax | Comments : 0 | Hits : 2122

Posted Date : 11-Feb-2018 , 06:26:41 pm | Posted By Mamta Kumari

Now incorporate a society is an easy procedure by follow some points in mind: PAN Card of all the members of the proposed society has to be submitted along with the application. The Residence Proof of all the members of the society also has to be submitted. The following can be us...

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Category : Income Tax | Comments : 0 | Hits : 491

Posted Date : 08-Feb-2018 , 10:13:36 pm | Posted By Mahesh Bansal

RBI as well as the government has acknowledged the difficulties faced by small entities during the transition phase to GST. It is a matter of pleasure for us that these authorities are also making all necessary efforts not to put entities in unduly disadvantageous situation. RBI has, vide a circu...

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Category : Banking | Comments : 0 | Hits : 1822

Posted Date : 01-Feb-2018 , 02:26:41 pm | Posted By Kushaj Gupta

The Ministry of Corporate Affairs along with the Government of India has taken momentous efforts in restricting the tedious task of incorporation of a business in India. In the event of the Republic Day, the government took strategic steps by bringing all the incorporation formalities under ...

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Category : Corporate Law | Comments : 0 | Hits : 775

Posted Date : 01-Feb-2018 , 01:54:09 pm | Posted By VIJAY SARATHI

Direct Taxes   No personal income tax changes proposed in budget.   Corporate tax of 25% extended to companies with turnover up to Rs. 250 crore in financial year 2016-17.   100% tax deduction is allowed to co-operative societies     Incentives for senior c...

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Category : Income Tax | Comments : 0 | Hits : 708

Posted Date : 28-Jan-2018 , 07:56:36 pm | Posted By Hardik Lashkari

GST has brought several issues for the taxpayers in form of changed bill formats and higher tax burden. Businesses are still unable to understand the details that need to be put in the invoice. While some businesses are committing the mistakes unintentionally, others have taken this transition as a...

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Category : GST | Comments : 0 | Hits : 1917

Posted Date : 22-Jan-2018 , 04:32:02 pm | Posted By CA Sanjay Jain

E-Way Bills on Inter State Movement of Goods – A changing dynamic of GST   Recently, the Central Government has issued notification no 74/2017,dated 29.12.2017 whereby it has fixed 1st February 2018 as the applicable date for use of E-way bills in relation to Inter State movement of good...

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Category : GST | Comments : 0 | Hits : 889

Posted Date : 18-Jan-2018 , 06:50:08 pm | Posted By Inderjeet

After Demonetization period, substantial number of Digital Transactions increases but still in India people hesitate to do transaction in Digital payment mode. Digi Dhan and Lucky Grahak Yojana during Demonetization period motivated to do more and more and transaction in Digital mode.   Mode ...

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Category : Finance | Comments : 0 | Hits : 557

Posted Date : 16-Jan-2018 , 11:10:30 am | Posted By Atul MIshra

Landlord’s PAN not needed to claim HRA if annual rent is below Rs 1 lakh. An employee who receives HRA can claim an exemption in respect of rental payments under section 10(13A) read with rule 2A of the Income Tax Rules. For claiming an HRA exemption, the individual must be residing in a rent...

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Category : Income Tax | Comments : 0 | Hits : 566

Posted Date : 12-Jan-2018 , 06:05:30 pm | Posted By CS Piyush Jain

A. Who can opt for Composition Scheme? • Businesses with annual turnover upto Rs 1.5 crore* can opt for composition scheme. • Turnover of all businesses with same PAN has to be added up to calculate turnover for the purpose of composition scheme. • Only Manufacturers of goods, Deal...

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Category : GST | Comments : 0 | Hits : 613

Posted Date : 08-Jan-2018 , 10:31:55 pm | Posted By CA.Khurana Vivek

Names of Audit Firms approved for appointment as Statutory Central Auditors in 21 Public Sector Banks for the year 2017-18 Sl. No. Name of the Bank Statutory Central Auditors for the year 2017-18 1 Allahabad Bank 1. M/s Kansal Singla & Associates, Chandigarh  ...

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Category : Bank Branch Audit | Comments : 0 | Hits : 5121

Posted Date : 08-Jan-2018 , 10:28:11 pm | Posted By CA.Khurana Vivek

i) The audit firm shall have a minimum of 7 full time chartered accountants, of which at least 5 should be full time partners exclusively associated* with the firm. Of these five full time exclusively associated* partners, one each should have minimum continuous association with the firm at least fo...

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Category : Bank Branch Audit | Comments : 0 | Hits : 2568

Posted Date : 06-Jan-2018 , 11:22:31 am | Posted By Sanket Garg

Passing CA Exam and becoming CA is the dream of every CA Student. The Dream is not only of student but it is of many more associated with him/her like Parents, Relatives, Friends, Teachers, Neighbors, GF, BF, Spouse and Rivals too (Rivals prey for their failure). For fulfilling this dream Students d...

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Category : Students Zone | Comments : 0 | Hits : 1159

Posted Date : 02-Jan-2018 , 03:07:47 pm | Posted By Poojamittal

CAPITAL GAIN TAX IN INDIA CAPITAL ASSETS A capital asset is defined to include property of any kind held by an assessee, whether connected with their business or profession or not connected with their business or profession. It includes all kinds of property, movable or immovable, tangible or int...

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Category : Income Tax | Comments : 0 | Hits : 693

Posted Date : 31-Dec-2017 , 04:44:18 pm | Posted By Vikas Modi

E-WAY bill is required to generate when value of goods in a vehicle exceeds Rs. 50,000/- for transportation outside the state.   E-WAY bill should be generated if goods move for following reasons: Supply; For Reason Other Than Supply; Due to inward supply from Unregistered Person. If ...

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Category : GST | Comments : 0 | Hits : 1297

Posted Date : 25-Dec-2017 , 06:06:04 pm | Posted By NITIN SHARMA

Services by way of transportation of goods by road except the services of      i) a Goods Transport Agency     ii) a courier agency are exempt from GST. To qualify as services of GTA, the GTA should be necessarily issuing consignment note.  Moreover, in cases where the ...

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Category : GST | Comments : 2 | Hits : 1070

Posted Date : 22-Dec-2017 , 01:36:33 pm | Posted By CS Piyush Jain

All companies registered in India including private limited company, one person company, limited company, section 8 company and others are required to file annual return with the Ministry of Corporate Affairs each year. Under the new Companies Act, 2013, Directors of Companies which have defa...

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Category : Corporate Law | Comments : 0 | Hits : 795

Posted Date : 20-Dec-2017 , 12:46:53 pm | Posted By Pooja Mittal

Section 195 of Income Tax Act 1961 Section 195 of the Income Tax Act is a section that covers the TDS on Non-resident payments. This section identifies the tax rates and deductions on business transaction with a non-resident from a day –to-day basis. Under Section 195, the income is cha...

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Category : Income Tax | Comments : 0 | Hits : 1315

Posted Date : 17-Dec-2017 , 11:11:17 am | Posted By May I Help You.

MBAs have an edge over chartered accountants (CAs) in India Inc’s CEO club as companies go global, requiring skills beyond financial management. While the chartered accountant (CA) certification was earlier considered a robust qualification for the CEO’s post, the number of CAs at the t...

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Category : Chartered Accountant | Comments : 0 | Hits : 1247

Posted Date : 13-Dec-2017 , 03:24:48 pm | Posted By Rajnish Kumar

## What is deferred duty payment under customs? Deferred duty scheme allow payment of customs duty post clearance of goods which obviate the need of payment of duty at the time of clearance of the goods,importers certified under Authorized Economic Operator programme as AEO (Tier-Two) and AEO (Tier-...

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Category : Custom | Comments : 0 | Hits : 2194