Posted Date : 07-Aug-2015 , 01:38:07 pm | Posted By Pankaj Agrawal

Friends all of you are going to be a Chartered Accountant and a CA is supposed to be very much familiar with this subject at least. We are studying this subject from 11th standard and this is a subject in which you can secure the highest.   As we are going to be chartered accountant, so finan...

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Category : Students Zone | Comments : 0 | Hits : 640

Posted Date : 07-Aug-2015 , 01:36:58 pm | Posted By Pankaj Agrawal

Success Mantra for CA Exam. .!!   Chartered Accountant is one of the best professional courses in India and its a great honor to be a Chartered Accountant (CA). Unbelievable marks are scored by most of the CA students. They think that they attempted the full paper; but marks are not up to mar...

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Category : Students Zone | Comments : 0 | Hits : 1339

Posted Date : 06-Aug-2015 , 06:29:14 pm | Posted By Vikas Pathre

So! I guess most of us, specially who are not professionals, would be busy in searching over net the available deductions and instructions to file ITRs. Apart from a duty to contribute to the development of nation in form of taxes and filing ITRs, it is also necessary to claim refund of taxes...

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Category : Income Tax | Comments : 0 | Hits : 1215

Posted Date : 04-Aug-2015 , 11:04:16 am | Posted By Prabhash Choudhary

I analyzed schedule II of Companies Act 2013 along with guidance note issued by ICAI for depreciation and in my opinion understated points are need to be considered for the purpose of calculation of depreciation for the financial year 2014-15: 1.    If useful life of an asset has b...

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Category : Corporate Law | Comments : 0 | Hits : 1264

Posted Date : 03-Aug-2015 , 02:03:57 pm | Posted By Chitresh

The Constitution (122nd Amendment) Bill, 2014 was introduced in Lok Sabha on December 19, 2014 and was passed by it on May 6, 2015. The Bill was referred to a Select Committee of Rajya Sabha for examination which submitted its Report on July 22, 2015. The Report contained various recommendations&nbs...

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Category : GST | Comments : 0 | Hits : 678

Posted Date : 01-Aug-2015 , 08:08:03 pm | Posted By Soniya

An Assessee is eligible to claim refund of the excess tax paid by him. Tax could be paid in the form of advance tax or tax deducted/collected at source or self - assessment tax or payment of tax on regular assessment.   To claim refund, an assessee need to E - file Return of Income submitting...

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Category : Income Tax | Comments : 0 | Hits : 631

Posted Date : 31-Jul-2015 , 06:45:04 pm | Posted By CA Bimal Jain

Dear Professional Colleague, VAT not applicable on transfer of right to use of goods if effective possession and control of the goods are not transferred We are sharing with you an important judgment of the Hon’ble High Court of Delhi, in the case of Hari Durga Travels Vs. Commissioner ...

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Category : VAT | Comments : 0 | Hits : 629

Posted Date : 30-Jul-2015 , 10:09:08 pm | Posted By Vimmi

Highlights of Key changes in new ITR Forms 3, 4, 5, 6 and 7. I. Introduction: The new ITR Forms 1, 2 and 4S were notified for the Assessment Year 2015-16 vide Notification No. 41/2015, Dated 15-04-2015. However, in view of representations received from various stakeholders, the CBDT came out wit...

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Category : ITR | Comments : 1 | Hits : 4666

Posted Date : 30-Jul-2015 , 02:48:31 pm | Posted By CA Bimal Jain

Dear Professional Colleague, No denial of refund on non-realisation of export proceeds We are sharing with you an important judgement of the Hon’ble CESTAT, Delhi in the case of P&P Overseas Vs. Commissioner of Central Excise, Delhi-III [(2015) 59 taxmann.com 226 (New Delhi - CESTAT...

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Category : Excise | Comments : 0 | Hits : 509

Posted Date : 30-Jul-2015 , 12:29:22 pm | Posted By Puneet Gupta

Piramal Healthcare Ltd Vs CCE&ST, Indore -2015(38)STR 1162(Tri-Del) In this case, the appellant was required to pay Service Tax under reverse charge mechanism. After that they have paid the Service Tax in time, same was available to them as Cenvat Credit. By not paying the Service T...

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Category : Service Tax | Comments : 0 | Hits : 585

Posted Date : 29-Jul-2015 , 03:20:00 pm | Posted By Chitresh

One of the crucial issue for successful implementation of GST relates to the determination of the GST rate. Since the GST is primarily intended as an exercise in reforming the consumption tax in India and not an exercise for additional resource mobilisation through discretionary changes, the CGST an...

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Category : Service Tax | Comments : 0 | Hits : 634

Posted Date : 26-Jul-2015 , 11:39:33 am | Posted By Soniya

CTC is cost to company and the components are Basic +HRA +CONVEYANCE +MOBILE REIMBURSHMENT +MEDICAL reimbursement +All allowances +LTA +employer contribution of PF +Employer Contribution towards ESI +Total variable incentives +Perks & benefits + Insurance Premium (in case of Group insurance) Ba...

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Category : Income Tax | Comments : 0 | Hits : 1013

Posted Date : 25-Jul-2015 , 10:58:18 am | Posted By CA Bimal Jain

Dear Professional Colleague,   Highlights of Report on the GST Bill by Select Panel of Rajya Sabha   With the first day’s proceeding of the Monsoon session of the Parliament getting distressed, the Select Panel of the Rajya Sabha had submitted its Report on the much awaited Constitut...

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Category : GST | Comments : 0 | Hits : 780

Posted Date : 23-Jul-2015 , 10:11:04 pm | Posted By Soniya

What is Form 16:- If you are salaried employee in an organization, then you will get the salary after deducting tax by the employer. Therefore Form 16 is a certificate issued to you by your employer stating the Personal details of the Employee including Name, Permanent Account Number (PAN) etc , &nb...

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Category : Income Tax | Comments : 1 | Hits : 1360

Posted Date : 23-Jul-2015 , 06:11:30 pm | Posted By CA Bimal Jain

Dear Professional Colleague, Guidelines for detailed scrutiny of Excise Returns issued by CBEC Background: The Central Board of Excise and Customs (“CBEC” or “the Board”) vide Circular No. 185/4/2015-ST dated June 30, 2015 had laid down the procedure for carrying out detai...

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Category : Excise | Comments : 0 | Hits : 1106

Posted Date : 22-Jul-2015 , 07:16:39 pm | Posted By Chitresh

GST Knowledge Series#1 : Understanding the Mechanics of Goods & Service Tax   The Goods and Services Tax (GST) is a comprehensive value added tax (VAT) on the supply of goods or services. It is levied and collected on value addition at each stage on sale or purchase of goods or supply ...

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Category : GST | Comments : 1 | Hits : 1589

Posted Date : 22-Jul-2015 , 06:29:13 pm | Posted By Chitresh

GST Knowledge Series# 2 Goods & Service Tax – Key Features   In continuance of our earlier series titled GST Knowledge Series# 1, Understanding the Mechanics of Goods & Service Tax, we have discussed the basic DNA of Goods & Service Tax popularly known as GST. These features a...

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Category : GST | Comments : 0 | Hits : 838

Posted Date : 21-Jul-2015 , 04:11:30 pm | Posted By Soniya

Income from MFs could take two forms—dividends and capital gains, The entire income received in respect of units of a Mutual Fund, registered with the Securities & Exchange Board of India, will be exempt from income-tax in accordance with the provisions of Section 10(23D) of the Income-ta...

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Category : Income Tax | Comments : 0 | Hits : 421

Posted Date : 21-Jul-2015 , 04:10:24 pm | Posted By Soniya

Some unusual ways of saving Income Tax in India not known to many people is here under:   HUF CREATION: HUF is considered as a separate entity which has its own PAN No and is therefore taxed separately. This helps to separate tax obligations of an individual from that of his family. Tax slabs...

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Category : Income Tax | Comments : 0 | Hits : 1756

Posted Date : 21-Jul-2015 , 04:02:31 pm | Posted By Soniya

To file Income tax return or to View your tax credit statement in Form 26AS   you need to register yourself on the Income tax website https://incometaxindiaefiling.gov.in/   Now the Steps for filling online return are hereunder:   Step 1: Open the Income Tax portal https://i...

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Category : Income Tax | Comments : 0 | Hits : 761