Posted Date : 31-Aug-2016 , 12:11:36 pm | Posted By CA Bimal Jain

Supply- Taxable Event under Model GST Law-Inclusive and Subjective With step-by-step progress towards Goods and Services Tax (“GST”), the Country is all set to witness the biggest indirect tax reform of unmatched importance in independent India. GST would mark a paradigm shift in the in...

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Category : GST | Comments : 0 | Hits : 713

Posted Date : 20-Aug-2016 , 12:10:09 pm | Posted By Mahesh Bansal

Most of us don't see any difference between a Cash Credit(CC) and an Overdraft(OD). Even most of the bankers interchange the two terms. Most of the banks call the working capital limit as 'CC' while some banks term it as 'OD' However, if going by the strict definitions, the two terms differ as foll...

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Category : Banking | Comments : 1 | Hits : 2987

Posted Date : 17-Aug-2016 , 06:04:10 pm | Posted By Mahesh Bansal

Dear Members,   Many of our friends frequently inquire about different aspects of Mudra Loans under Pradhan Mantri Mudra Yojna. Though they have already gone through the details of this scheme, a few aspects remain unclear due to lack of proper guidance. So, to facilitate them, I have compile...

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Category : Banking | Comments : 0 | Hits : 1594

Posted Date : 11-Aug-2016 , 10:22:05 pm | Posted By Ankit

GST and its working: Goods and Service Tax (GST) as the name suggest is a one single tax on the supply of goods and services, right from the Manufacturing to the ultimate delivery to customer. Credits of input tax paid at each stage will be available in the subsequent stage of value addition, which...

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Category : GST | Comments : 3 | Hits : 3252

Posted Date : 21-Jul-2016 , 02:40:14 pm | Posted By Mahesh Bansal

I have observed that many people can not differentiate correctly between a 'home loan' and a 'loan against property'. Many people call me to inquire about a 'home loan' against security of a property already owned by them. It is not a 'home loan'. Instead, it is a ...

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Category : Banking | Comments : 1 | Hits : 1647

Posted Date : 13-Jul-2016 , 02:36:04 pm | Posted By RAHUL MODI

15 July 2016 ​Quarterly statement in respect of foreign remittances (to be furnished by authorized dealers) in Form No. 15CC for quarter ending June, 2016 15 July 2016 ​​​Quarterly statement of TCS deposited for the quarter ending 30 June, 2016 22 July 2016 ​​​​Due date...

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Category : Income Tax | Comments : 0 | Hits : 797

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 : 1588

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 : 2289

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 : 1418

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 : 1366

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 : 19180

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 : 1424

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 : 760

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 : 2227

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 : 7608

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 : 1183

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 : 2217

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 : 3012

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 : 2293

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 : 2171