HOW TO SAVE INCOME TAX ON SALARY
Posted Date : 04-Jun-2015 , 03:41:54 pm | Posted By
Ankit Gupta
HOW TO SAVE INCOME TAX ON SALARY The objective of this blog is to empower the employees with knowledge by providing Minimum Income Tax kno...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1699 |
 |
ANALYSIS OF RCM FOR MANPOWER SUPPLY SERVICES OR SECURITY SERVICES 31.05.15
Posted Date : 31-May-2015 , 11:14:34 pm | Posted By
Puneet Goyal
ANALYSIS OF REVERSE CHARGE MECHANISM IN RESPECT OF MANPOWER SUPPLY SERVICES OR SECURITY SERVICES DATED 31.05.2015 (Before proceeding further please read the disclaimer at the bottom of this write up) As we all know that after introduction of negative list approach, in respect of above ...
Continue Reading...
Category : Service Tax |
Comments :
1 | Hits : 1760 |
|
List of Important Updates in DVAT from 01-05-2015 to 31-05-2015
Posted Date : 30-May-2015 , 11:46:05 am | Posted By
CA Vinod Kumar
S.No.
Relevant Change
Reference No.
1.
Default Assessment under CST Act shall not be carried out by VATO’s in normal cases. Assessment shall be framed by system on the basis of information supplied in Form 09. In case of refunds assessment can be made by ask...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1369 |
|
Export condition fulfilled even if payment is received in Indian Rupees
Posted Date : 29-May-2015 , 03:16:26 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Export condition fulfilled even if payment is received in Indian Rupees We are sharing with you an important judgment of the Hon’ble Mumbai Tribunal, in the case of Sun-Area Real Estate Pvt. Ltd. Vs. Commissioner of Service Tax, Mumbai-I [2015-TIOL-956-CESTA...
Continue Reading...
Category : Service Tax |
Comments :
0 | Hits : 636 |
|
Gist of Guidance Note on Accounting of CSR Expenditure
Posted Date : 29-May-2015 , 01:17:09 pm | Posted By
Vivek Parakh
Gist of Guidance note on Accounting for Expenditure on CSR Activities
Introduction
Applicability
Companies having net worth of Rs. 500 crore or more or,
Turnover of Rs. 1,000 crore or more or,
Net profit of Rs. 5 crore or more
If above mentioned criteria is met durin...
Continue Reading...
Category : Companies Act |
Comments :
0 | Hits : 1119 |
|
HOW TO COMPUTE INTEREST U/S 234 A OF INCOME TAX ACT
Posted Date : 27-May-2015 , 04:17:32 pm | Posted By
Ankit Gupta
HOW TO CALCULATE INTEREST u/s 234 OF INCOME TAX ACT Interest u/s 234A is the Interest for default for Furnishing Return of Income u/s 139(1) or 139(4) or Return filed in response to notice u/s 142(1). 1.- CONDITIONS FOR LEVY OF INTEREST u/s 234A
a) Where Return of Income (ITR) is not...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 1387 |
|
ALL YOU NEED TO KNOW ABOUT ADVANCE TAX
Posted Date : 26-May-2015 , 11:20:35 am | Posted By
Ankit Gupta
1.- Section 208 :- An assessee is liable to pay Advance Tax only if his ‘’Advance Tax’’ Liability is Rs.10,000 or more during the previous year. :- An individual whose age is 60 years or more at anytime during the previous year is not required to pay Advance Tax if his Total ...
Continue Reading...
Category : Income Tax |
Comments :
0 | Hits : 791 |
|
Refund of excess Excise duty permissible on reduction in contract price after clearance of goods from factory
Posted Date : 25-May-2015 , 07:05:48 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Refund of excess Excise duty permissible on reduction in contract price after clearance of goods from factory We are sharing with you an important judgment of the Hon’ble Supreme Court, in the case of HPL Socomac Ltd. Vs. Commissioner of Central Excise, Gurgaon [...
Continue Reading...
Category : Excise |
Comments :
0 | Hits : 507 |
|
Gist of Depreciation under Companies Act 2013
Posted Date : 25-May-2015 , 06:50:25 pm | Posted By
Vivek Parakh
Provision as per Schedule II of Companies Act, 2013
Depreciation = allocation of depreciable amount + over useful life.
Depreciable amount = Cost of Asset – Residual Value.
Useful life = Expected period of use or no. of production etc.
Depreciation includes amortization.
For other ...
Continue Reading...
Category : Companies Act |
Comments :
0 | Hits : 1596 |
|
Taxability of newly taxable services from June 1, 2015
Posted Date : 21-May-2015 , 02:20:29 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Taxability of newly taxable services from June 1, 2015 The Ministry of Finance, Department of Revenue vide Notification No. 14/2015-ST dated May 19, 2015 has notified that the following changes in relation to the Negative List of services contained under Section 66D of...
Continue Reading...
Category : Service Tax |
Comments :
0 | Hits : 1902 |
|
How change in Service Tax rate should be tackled?
Posted Date : 20-May-2015 , 08:55:08 pm | Posted By
Vimmi
How change in Service Tax rate should be tackled? Please keep in mind the following and prepare yourself accordingly:
1. Service Provision is complete till 31.05.2015 and Invoice raised till 31.05.2015 but Payment received on or after 01.06.2015- 12.36% applicable....
Continue Reading...
Category : Service Tax |
Comments :
0 | Hits : 1612 |
|
Analysis of Service tax rate increase from 12.36% to 14% (Subsuming EC and SHEC) effective from 01.06.2015
Posted Date : 20-May-2015 , 06:01:35 pm | Posted By
Chitresh
Analysis of Service tax rate increase from 12.36% to 14% (Subsuming EC and SHEC) effective from 01.06.2015
By CA. Chitresh Gupta, B.Com(H), FCA, IFRS (Certified), IDT (Certified)
Author of Book “An Insight Into Goods & Service Tax”
After the Hon’ble President h...
Continue Reading...
Category : Service Tax |
Comments :
0 | Hits : 1207 |
|
Finance Bill, 2015 enacted: Significant changes under the Central Excise and the Customs
Posted Date : 19-May-2015 , 07:19:35 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Finance Bill, 2015 enacted: Significant changes under the Central Excise and the Customs The Hon’ble President has given assent to the Finance Bill, 2015 on Thursday, May 14, 2015. Accordingly, the Finance Bill, 2015 has now become Finance Act (No.20), 2015. We h...
Continue Reading...
Category : SEBI |
Comments :
0 | Hits : 1127 |
|
The Goods and Service Tax (GST)- A detailed explanation with examples!!
Posted Date : 17-May-2015 , 11:42:39 am | Posted By
Shivashish Karnani
Brief Intro: Introduction of Goods and Services Tax (GST) will indeed be an important perfection and the next logical step towards a widespread indirect tax reforms in India. As per, First Discussion Paper released by the Empowered Committee of the State Finance Ministers on 10.11.2009, it...
Continue Reading...
Category : GST |
Comments :
0 | Hits : 2887 |
|
Service tax rate of 14% shall come into effect only from a date to be notified - Finance Bill, 2015 enacted
Posted Date : 16-May-2015 , 01:21:19 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Service tax rate of 14% shall come into effect only from a date to be notified – Finance Bill, 2015 enacted The Hon’ble President has given assent to the Finance Bill, 2015 on Thursday, May 14, 2015. Accordingly, the Finance Bill, 2015 now becomes Finance A...
Continue Reading...
Category : Service Tax |
Comments :
0 | Hits : 859 |
|
How a Bill becomes an Act
Posted Date : 13-May-2015 , 09:21:18 pm | Posted By
Vimmi
A Bill is the draft of a legislative proposal. It has to pass through various stages before it becomes an Act of Parliament.
First Reading
The legislative process starts with the introduction of a Bill in either House of Parliament—Lok Sabha or Rajya Sabha. A Bill c...
Continue Reading...
Category : Finance |
Comments :
0 | Hits : 1215 |
|
All about Tax Deduction at Souce (TDS)
Posted Date : 09-May-2015 , 11:23:54 am | Posted By
CA Kapil Goel
Tax Deducted at Source (TDS) is one of the modes of collecting income tax in India at the very source of income, governed under the Indian Income Tax Act of 1961. It is controlled by the Central Board for Direct Taxes (CBDT) and is part of the Department ...
Continue Reading...
Category : TDS |
Comments :
0 | Hits : 2098 |
|
All about Joint Ventures
Posted Date : 09-May-2015 , 11:22:36 am | Posted By
CA Kapil Goel
A Joint venture is an arrangement in which 2 or more individuals /companies / partnership firms /corporations/legal entities come together to undertake an economic or research activity by entering into an agreement. The parties agree to create a new entity by contributing capital and share income, e...
Continue Reading...
Category : General |
Comments :
0 | Hits : 600 |
|
All about Income Tax Returns (ITR)
Posted Date : 09-May-2015 , 11:21:37 am | Posted By
CA Kapil Goel
The forms used to file income taxes with the Internal Revenue Service (IRS) are known as Income Tax Returns. Tax returns are set up in an excel worksheet format, where the income figures are used to calculate the tax liability of persons. Tax returns must be filed every year for an individual or bus...
Continue Reading...
Category : ITR |
Comments :
0 | Hits : 1373 |
|
TDS on Rent u/s 194I
Posted Date : 09-May-2015 , 11:19:56 am | Posted By
CA Kapil Goel
Any person who is not an Individual or HUF, who is paying any income to resident by way of rent is liable to deduct tax at source only in case the aggregate of the amount of such rent credited or paid or likely to credited or paid during the financial year by the aforesaid person to the accoun...
Continue Reading...
Category : TDS |
Comments :
0 | Hits : 1222 |
|
|
