Guidelines for detailed scrutiny of Excise Returns issued by CBEC
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 |
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GST Knowledge Series#1 : Understanding the Mechanics of Goods & Service Tax
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 |
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1 | Hits : 1613 |
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GST Knowledge Series # 2: Goods & Service Tax : Key Features
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 |
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INCOME FROM MUTUAL FUNDS
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 |
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Some unusual ways of saving Income Tax in India not known to many people
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 |
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HOW TO FILE INCOME TAX RETURN ONLINE
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 |
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POINTS TO BE CONSIDERED BY TAXPAYER BEFORE FILING AN INCOME TAX RETURN
Posted Date : 14-Jul-2015 , 01:21:11 pm | Posted By
Ankit Gupta
POINTS TO BE CONSIDERED BY TAXPAYER BEFORE FILING AN INCOME TAX RETURN 1. Due Date of Filing of Income Tax Return is proposed to be extended to 31 August ‘2015 in respect of Assessment Year 2015-2016. 2.The maximum amount of deduction available ...
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Category : Income Tax |
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Credit is admissible even if Inputs are discarded during manufacturing process
Posted Date : 13-Jul-2015 , 07:03:12 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Credit is admissible even if Inputs are discarded during manufacturing process We are sharing with you an important judgement of the Hon’ble Apex Court in the case of Union of India Vs. Asahi India Safety Glass Ltd [(2015) 58 taxmann.com 237 (SC)] on the f...
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Category : Excise |
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0 | Hits : 588 |
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Reasons why I believe Chartered Accountancy is in a Mess
Posted Date : 12-Jul-2015 , 03:59:26 pm | Posted By
Rohit Kapoor
Is Chartered Accountancy in a Mess??
There can be two answers to the above Question i.e. Yes Or No.
I will talk about Chartered Accountancy being in a Mess in my article as Criticism leads to Improvement and I believe in it.
Well the course is right now pretty screwed up,...
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Category : Students Zone |
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7 | Hits : 2021 |
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Saying SORRY Is Difficult. But Once Said, It Does Make You Feel Awesome!!
Posted Date : 10-Jul-2015 , 12:57:04 pm | Posted By
Nimish Goel
This article is very special as it doesn’t relate to any career guidance or mentoring I generally do through my blog. This article is inspired from a real life incident that happened with me couple of weeks back when I acted in a way I shouldn’t have and later how I made it good by a sim...
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Category : General |
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Difference between inactive and dormant savings bank accounts
Posted Date : 09-Jul-2015 , 07:31:49 am | Posted By
Vimmi
Have you left behind a trail of unused savings bank accounts when you changed jobs? Many individuals don’t close bank accounts that they no longer need. Here is what happens if you don’t close your savings or current accounts and why you need to keep a track.
INACTIVE AND DORMANT ACCO...
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Category : Banking |
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0 | Hits : 1439 |
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CBEC issues guidelines for detailed manual scrutiny of ST-3 Returns w.e.f. August 1, 2015
Posted Date : 08-Jul-2015 , 06:00:47 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, CBEC issues guidelines for detailed manual scrutiny of ST-3 Returns w.e.f. August 1, 2015 Background: The Central Board of Excise and Customs (“CBEC” or “the Board”) vide Circular No. 113/07/2009-ST dated April 23, 2009 had laid down the proced...
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Category : Service Tax |
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0 | Hits : 916 |
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CBEC specifies conditions and safeguards for issuing digitally signed invoices and maintaining e-records
Posted Date : 07-Jul-2015 , 01:36:47 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, CBEC specifies conditions and safeguards for issuing digitally signed invoices and maintaining e-records Background: The Service Tax Rules, 1994 (“the Service Tax Rules”) were amended vide Notification No. 5/2015 – ST dated March 1, 2015 to insert Ne...
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Category : Excise |
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0 | Hits : 449 |
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Reasonal Remuneration & Respectful Treatment( sought for CA’s)
Posted Date : 06-Jul-2015 , 11:04:15 am | Posted By
CA M.RAGHAVENDRA PRASAD
Reasonal Remuneration & Respectful Treatment( sought for CA’s)
Competition Commission of India-Fair Trade Regulator
cannot see members of Indian Banks Association (IBA) informally forming a cartel to see
that interest on savings bank accounts of small and medium ...
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Category : CA |
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A CA is Worth Above Rs 1 Cr
Posted Date : 05-Jul-2015 , 11:46:32 am | Posted By
CA M.RAGHAVENDRA PRASAD
Dear CA Brothers & Sisters,
‘Human Economic Value’ is attempted by Accounting his Economic Potential way back in 1930’s by the Insures for reimbursing the dependants with approximate ( not actuary) estimations to settle death and permanent total/partial disablement claims of ...
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Category : CA |
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1 | Hits : 2270 |
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Greek Crisis and Impact on Indian Economy
Posted Date : 05-Jul-2015 , 11:31:42 am | Posted By
Rohit Kapoor
What’s going On with Greece and its Economy?
Greece is a country gripped by huge money problems and now the banks there are closed for the week. But how have things got this bad?
Over the last 10 years, Greece borrowed lots of money from European banks and from other countries' gover...
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Category : General |
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Export benefits cannot be denied even when export proceeds are not realized
Posted Date : 03-Jul-2015 , 06:50:48 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Export benefits cannot be denied even when export proceeds are not realized We are sharing with you an important judgement of the Hon’ble CESTAT, New Delhi in the case of Commissioner of Central Excise, Delhi-III Vs. Shyam Telecom Ltd. [(2015) 58 taxmann.com 117 ...
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Category : Excise |
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0 | Hits : 590 |
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Rejection Order passed by Designated Authority under VCES is appealable
Posted Date : 01-Jul-2015 , 03:14:19 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Rejection Order passed by Designated Authority under VCES is appealable We are sharing with you an important judgement of the Hon’ble High Court of Madras in the case of the Narasimha Mills Pvt. Ltd. Vs. the Commissioner of Central Excise (Appeals) and the Assist...
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Category : Service Tax |
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Applicability of CARO-2015
Posted Date : 30-Jun-2015 , 01:41:43 pm | Posted By
MD TASLEEM AHMAD KARIMI
Introduction & Background
In Exercise of the power Conferred by Sub section 11 of Section 143 of the Companies Act, 2013 and in Supersession of the Companies (Auditor’s report) order, 2003, the Central Govt. after consultation with the Institute of Chartered Accountant of India make Com...
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Category : Auditing |
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Interest on refund allowed even if law is silent
Posted Date : 29-Jun-2015 , 01:47:46 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Interest on refund allowed even if law is silent We are sharing with you an important judgement of the Hon’ble High Court of Gujarat in the case of State of Gujarat Vs. Indian Petro Chemicals Ltd. [2015 (6) TMI 541 – Gujarat High Court] on following issues...
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Category : VAT |
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0 | Hits : 808 |
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