Posted Date : 21-Oct-2015 , 07:54:57 pm | Posted By CA Bimal Jain

Dear Professional Colleagues,   Draft GST Report on Returns under GST on public domain   In order to engage with the stakeholders and invite comments from the public at large, the Ministry of Finance on October 6, 2015, placed the following Draft Business Processes of GST on public dom...

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Category : GST | Comments : 0 | Hits : 613

Posted Date : 19-Oct-2015 , 10:36:44 pm | Posted By Tanushree Agrawal

Its very important in todays world to take care of yourself because the world is selfish. Its important to have financial freedom, health freedom so you can get the decision freedom and life freedom.   If you are earning for yourself then if you wish to buy something you can buy and take deci...

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Category : CA | Comments : 1 | Hits : 1757

Posted Date : 18-Oct-2015 , 01:25:55 pm | Posted By Tanushree Agrawal

Become addicted to continuous and unlimited self-improvement.   Be a diamond by daily polishing yourself !   If daily you learn one self-improvement technique you would have learn 365 techniques in a year.   And in 5 years time you would be a different person with 1825 technique...

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Category : CA | Comments : 0 | Hits : 1285

Posted Date : 15-Oct-2015 , 05:45:47 pm | Posted By Manan Gupta

All About HUF Meaning;   What is an HUF? As the name suggests, an HUF is a family of Hindus. However, even Buddhists, Jains and Sikhs are regarded as Hindus, and can, therefore, set up HUFs. The concept of an HUF has basically evolved from ancient Hindu law. There are two scho...

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Category : Income Tax | Comments : 0 | Hits : 1100

Posted Date : 14-Oct-2015 , 04:07:44 pm | Posted By CA Bimal Jain

Excise duty Rebate admissible on both inputs and final products We are sharing with you an important judgment of the Hon’ble Supreme Court in the case of Spentex Industries Ltd. Vs. Commissioner of Central Excise [2015 (10) TMI 774 - SUPREME COURT] on following issue: Issue: Wheth...

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Category : Excise | Comments : 0 | Hits : 517

Posted Date : 08-Oct-2015 , 11:42:15 am | Posted By Mohit Garg

Corporate Social Responsibility - Introduced in Company Act 2013. Application of CSR: If any of the following conditions are satisfied CSR will be applicable: 1. Company having Net worth of Rs.500 Cr or more. 2. Turnover of Rs.1000 Cr or more. 3. Net profit of Rs.5 Cr or more...

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Category : Auditing | Comments : 0 | Hits : 711

Posted Date : 05-Oct-2015 , 03:35:08 pm | Posted By Manan Gupta

Firstly to understand the provisions & needs of Form 15CA & 15CB, we have to understand the income Tax  Act & Rules made behind the compliances and transactions required the compliances of Form 15CA & 15CB.  Section 195(6)of Income Tax Act-  The person responsible f...

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Category : Income Tax | Comments : 2 | Hits : 2748

Posted Date : 03-Oct-2015 , 11:48:58 am | Posted By CA. Niket Agarwal

What is a Stock Audit? It is the physical verification of the inventory. However at times it may also include valuation of the inventory, this would depend upon the terms of reference or the engagement letter of the assignment.  Important thing to remember in a stock audit is the purpose ...

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Category : Auditing | Comments : 0 | Hits : 12387

Posted Date : 25-Sep-2015 , 12:25:39 pm | Posted By Gautam Gupta

Reporting Financial Institution and their registration under income tax Act, 1961 and submission of form 61B Chapter-1   According to the amended provisions of Section 285BA(1)(k)of the Income Tax Act, 1961, some prescribed reporting financial institutions need to furnish a statement of finan...

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Category : Income Tax | Comments : 0 | Hits : 513

Posted Date : 22-Sep-2015 , 02:31:25 pm | Posted By Mahender Gupta

Once a trademark application is filed (Fee- Rs. 4000), it is examined as to its registrability which includes deceptiveness, distinctiveness etc. and availability based on the existence of prior trademarks registered or pending applications. If there are any objections to the registration, an examin...

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Category : General | Comments : 0 | Hits : 909

Posted Date : 16-Sep-2015 , 01:30:25 pm | Posted By Satish C. Badve

Measures for Reduction in level of NPA of PSB. Hon. Finance Minister has recently in news saying the present level of NPA in the PSB are not acceptable.   The PSB as well as the Finance Ministry is concerned about the increase in level of NPA in recent years. E...

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Category : Banking | Comments : 0 | Hits : 861

Posted Date : 07-Sep-2015 , 01:24:34 pm | Posted By Ankit Gupta

1. Forget Sending ITR V to Income Tax Department Every Tax Payer is required to send a duly signed copy of ITR V form to Income Tax department within 120 days of e filing an Income Tax Return at “Income Tax Department – CPC, Post Bag No. 1, Electronic City Post Office, Banglore – ...

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Category : Income Tax | Comments : 0 | Hits : 1278

Posted Date : 04-Sep-2015 , 12:47:11 pm | Posted By Chitresh

GST is commonly described as indirect, comprehensive, broad based consumption Tax. The Dual GST which would be implemented in India will subsume many consumption taxes. The objective is to remove the multiplicity of tax levies thereby reducing the complexity and remove the effect of Tax Cascading. ...

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Category : Service Tax | Comments : 0 | Hits : 957

Posted Date : 27-Aug-2015 , 11:14:27 pm | Posted By GOVIND NARAYAN SHARMA

                                  LIMITS BASED PROVISIONS WITH CONSEQUENCES ON NON-COMPLIANCE UNDER COMPANIES ACT, 2013 ...

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Category : Corporate Law | Comments : 0 | Hits : 1115

Posted Date : 27-Aug-2015 , 12:10:28 am | Posted By GOVIND NARAYAN SHARMA

          TIME LIMITS FOR ISSUANCE OF NOTICES, ORDERS UNDER DIFFERENT SECTIONS OF INCOME TAX ACT, 1961           Income Tax Act, 1961 contains different time limits for i...

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Category : Income Tax | Comments : 0 | Hits : 2380

Posted Date : 25-Aug-2015 , 03:39:45 pm | Posted By Simran Singh

CPC (TDS) has released an advisory communication to all deductors and taxpayers regarding spurious email. CPC (TDS) has advised them to maintain strong Password for User account at TRACES and must not share the User ID / Password with any unauthorized user. The released communication has been giv...

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Category : Income Tax | Comments : 0 | Hits : 795

Posted Date : 15-Aug-2015 , 07:57:28 pm | Posted By CA Jai Kishan

Service Tax – Point of Taxation Rules, 2011 By CA. Jai Kishan Introduction: The Point of Taxation Rules, 2011 (hereinafter referred to as “the POT Rules”) were notified on March 1, 2011 and have been amended from time to time. As mentioned in my earlier Article, service tax is o...

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Category : Service Tax | Comments : 0 | Hits : 1259

Posted Date : 15-Aug-2015 , 12:58:00 pm | Posted By Sayam Rastogi

VARIOUS TAXES SUBSUMED UNDER GST The following are the central government taxes that would be subsumed under GST: Central Excise Duty Additional Excise Duties Excise duty under the Medicinal and Toiletries Preparation Act Service Tax Additional Customs Duty Special Additional Cust...

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Category : GST | Comments : 0 | Hits : 917

Posted Date : 15-Aug-2015 , 12:55:38 pm | Posted By Sayam Rastogi

                                               One Person Company One Person Company is a new type of business entity in India introduced through the Companies Act, 2013. One Pe...

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Category : Corporate Law | Comments : 0 | Hits : 1265

Posted Date : 15-Aug-2015 , 10:04:43 am | Posted By CA Jai Kishan

Service Tax in India: Brief History and Meaning of “Service” By CA. Jai Kishan Brief History:   The Service Tax was introduced in India around 21 years back on July 1, 1994 at the recommendations of Dr. Raja Chelliah Committee on tax reforms. The introduction of this levy i...

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Category : Service Tax | Comments : 0 | Hits : 933