Posted Date : 12-Jul-2016 , 09:04:09 pm | Posted By Ankit Jain

In recent years, CBDT has made efforts to rationalize the provisions and procedures of Tax Deduction at source (TDS) and Tax collected at source (TCS). The recent amendments of extending the date for filing of TDS returns has been extended to 30th of next month after the quarter end is another step ...

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Category : Income Tax | Comments : 0 | Hits : 1554

Posted Date : 11-Jul-2016 , 06:10:04 pm | Posted By CA. PIYUSH KAPOOR

CENVAT CREDIT ON SET TOP BOX INTRODUCTION   Service providers have at least a Telephone in their office. They are paying service tax on the telephone charges. The service tax on telephone charges becomes a part of the cost for the service provider. When he collects service tax from the c...

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Category : Service Tax | Comments : 0 | Hits : 2200

Posted Date : 02-Jul-2016 , 01:26:32 pm | Posted By Sakshi Sareen

How Nidhi Company arrange finance   For entering into the professional world every person wants to register their business just to have a legal existence. Registering your company would give a legal existence to your business or you can say a life of its own. One of the essential requirement ...

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Category : Corporate Law | Comments : 0 | Hits : 1377

Posted Date : 02-Jul-2016 , 12:31:17 am | Posted By Paras Mehra

There is no term with the name initial compliances actually; we have created the term just for you to understand this better. It is actually 1st part of the total compliances and which have to be done within 30 days of the incorporation. Some other stuff we will also mention just to be organized wit...

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Category : Corporate Law | Comments : 0 | Hits : 1324

Posted Date : 28-Jun-2016 , 06:11:03 pm | Posted By Amarjeet Kumar Roshan

Most of the people working on MCA portal either for registration or annual filling are facing similar problem. "Size of E-forms increses the limit as prescribed by MCA after attaching DSC". Solutions for same has been given mca website which i am providing below for reducing the size of E-Forms...

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Category : MCA | Comments : 0 | Hits : 19076

Posted Date : 28-Jun-2016 , 11:09:20 am | Posted By SHASHI RANJAN

1. One Person Company to be converted ??? Voluntary Conversion:- No such company can converted voluntary into any kind of company uless 2 years have elapsed from the date of incorporation Mandatory Conversion:-  OPC exceed the limit of Small Co. Such OPC shall be required to convert ...

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Category : Companies Act | Comments : 0 | Hits : 1350

Posted Date : 27-Jun-2016 , 01:45:28 pm | Posted By SHASHI RANJAN

Circular No-22/2016.......F.No.370142/17/2016-TPL   Brief:- Finance Act 2016 has amended the section 206C of the said Act. It provide that seller shall collect tax @ 1% from buyer on sale in cash of certain goods or provision of services exceeding Rs. 2 Lacs.         &n...

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Category : Income Tax | Comments : 0 | Hits : 739

Posted Date : 26-Jun-2016 , 12:30:45 pm | Posted By Durgesh Vashisth

REBATE U/S 87A FOR A.Y. 2017-18 (F.Y. 2016-17) Rebate of up to Rs. 5,000 for resident individuals having total income of up to Rs. 5,00,000 as per Sec-87A of Income Tax Act, 1961 for A.Y. 2017-18 i.e. F.Y. 2016-17. The rebate shall be equal to the amount of income tax payable on the total inco...

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Category : Income Tax | Comments : 1 | Hits : 2160

Posted Date : 20-Jun-2016 , 06:17:50 pm | Posted By Anshu Agarwal

Submission of Form 15G/ 15H to Income Tax Department   There are certain provisions in the income tax act for deduction of tax at source (TDS) out of certain income like dividend, interest, rent etc. There are certain flat rates for deduction of TDS if such income exceed a certain fixed amount...

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Category : TDS | Comments : 0 | Hits : 7542

Posted Date : 15-Jun-2016 , 12:46:28 pm | Posted By Raman Singla

MODEL GST LAW 2016 RELEASED   The Empowered committee of State Finance Ministers has released the much awaited model GST law June, 2016 for public debate. The new law has two Acts:- Goods and Services Tax Act’ 2016 Integrated Goods and Services Tax Act’ 2016 ...

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Category : GST | Comments : 0 | Hits : 1146

Posted Date : 03-Jun-2016 , 11:18:15 am | Posted By Soniya

Finance Act, 2016 imposed TCS on cash sale of goods or services with effect from 1-6-2016.   New Sub Section (1D) of Section 206C is as follow:   Every person, being a seller, who receives any amount in cash as consideration for sale of bullion or jewellery or any other goods (ot...

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Category : Income Tax | Comments : 0 | Hits : 2140

Posted Date : 01-Jun-2016 , 11:10:38 am | Posted By Raman Singla

NO KRISHI KALYAN CESS ON DEBTORS AS ON 13th MAY’ 2016 (PART -2) Read more at: http://www.casansaar.com/article-submit.htmlThe enabling provisions for KRISHI KALYAN CESS (KKC) are contained in Chapter – VI of Finance Act’ 2016. As per the provisions, KKC shall be applicable at 0.5...

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Category : Service Tax | Comments : 1 | Hits : 2908

Posted Date : 30-May-2016 , 01:55:02 am | Posted By Aman Kesharwani

The CBDT (Central Board of Direct Taxes) has introduced a new form (Form 12 BB) for claiming tax deduction towards LTA, LTC, HRA & interest paid for home loans. The new form mandates people to furnish proof of travel while claiming LTA, LTC, and details of landlord in case of HRA claims.  ...

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Category : Income Tax | Comments : 1 | Hits : 2253

Posted Date : 27-May-2016 , 05:35:23 pm | Posted By Vishal Shah

As you are aware that the Finance Act, 2016 has increased the service tax rate to include a new cess, namely Krishi Kalyan Cess, which is applicable w.e.f. 01/06/2016. The effective rate of service tax for all new services provided after 01/06/2016 shall be as below:   Service Tax   ...

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Category : Service Tax | Comments : 0 | Hits : 2095

Posted Date : 29-Apr-2016 , 04:11:26 pm | Posted By CP JAIN

Currently hottest topic in Banking industry is NPA.  Lot of discussions are going on about why this happened, How this happened and What should be further course of Action. One thing is crystal clear that the Banking sector in India is passing thru a very crucial phase and need to do a lot to...

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Category : Banking | Comments : 0 | Hits : 961

Posted Date : 28-Apr-2016 , 04:21:51 pm | Posted By Tanay Jindal

Process for Incorporating Limited Liability Partnership Following are the steps involved for incorporating LLP   Apply for Director Identification Number (DIN) by e-filling form DIN-3 or if the person already have Director Identification Number then no need of DIN Acquire DSC and Register...

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Category : General | Comments : 0 | Hits : 1384

Posted Date : 26-Apr-2016 , 04:39:26 pm | Posted By Meetesh Shiroya

In the Present era, the market is booming up so every Company want to take opportunity to earn more from the same market and want to get maximum benefits out of that, so what are the ways available for Company to avail such benefits. So for that, Private Company has to change its Mission as well as ...

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Category : Income Tax | Comments : 0 | Hits : 1233

Posted Date : 24-Apr-2016 , 10:46:25 pm | Posted By Ankur Kumar Gupta

The Indian Government is actively working to improve ease of doing business in India. Key initiative in this aspect is the Amendment to Companies Act, 2015 to make it more business or investor friendly. The Companies Amendment Bill, 2015 was passed in Lok Sabha on 17/12/2014 and it was passed in the...

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Category : Corporate Law | Comments : 0 | Hits : 899

Posted Date : 23-Apr-2016 , 12:05:30 am | Posted By CA Gopal Rathi

Dear CA friends,   Arbitrary criteria exist for the allotment of audit of public sector units. Every department made their own different rules and conditions for appointment though there is existence of ICAI Multipurpose empanelment form(MEF).   There is something which is hidden and n...

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Category : RBI | Comments : 3 | Hits : 3752

Posted Date : 22-Apr-2016 , 10:44:07 pm | Posted By Sunil Kumar

    CENVAT CREDIT AVAILABLE VS CENVAT CREDIT TAKEN ALARMING AMENDMENT IN RULE 6(3) OF CENVAT CREDIT RULES (a) A manufacturer who manufactures two classes of goods namely:- Non exempted goods removed Exempted goods removed Or (b) a provider of output service who provides two c...

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Category : Service Tax | Comments : 0 | Hits : 2003