Audit Provision as per CGST Act, 2017
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 |
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CASH TRANSACTION IN INCOME TAX 40A(3) Vs 269SS/T Vs 269ST
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 |
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How can I obtain LLP registration in India?
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 |
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Thin Capitalization rules introduced under Income-tax
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 |
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Criteria to decide whether any service rendered will fall U/s. 194C or 194J: An Analysis
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 |
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FACTUAL STUDY - TRUSTS
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 |
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Tax Planning to save your GST
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 |
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Tax Planning- An unexplored friend
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 |
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Ponzi Scam at PNB Unfolded
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 |
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BENAMI LAW DIGEST
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 |
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E-Assessment under I T Act
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 |
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registration of society by some points
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 |
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Relaxation in IRAC norms for MSME borrowers
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 |
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Reserving a Company Name is now a Child’s Play
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 |
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Budget#2018 In shorts
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 |
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How to spot a fake GST bill
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 |
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E-Way Bills on Inter State Movement of Goods – A changing dynamic of GST
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 |
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Digital Payments in India
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 |
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Landlord’s PAN not needed to claim HRA if annual rent is below Rs 1 lakh.
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 |
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Mystery unloacked - Composition Scheme under GST Laws
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 |
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