TDS on Payment to contractors u/s 194C
Posted Date : 09-May-2015 , 11:18:57 am | Posted By
CA Kapil Goel
As per Section 194C, deduction of TDS is required to be made from payments of any amount to resident contractors or sub-contractors.
1. DEDUCTION OF TDS FROM PAYMENT TO RESIDENT CONTRACTORS :- Sec 194C(1) provides that any person responsible for paying any sum to resident contractor for ca...
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Category : Income Tax |
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Dissolution of Partnership Firm
Posted Date : 09-May-2015 , 11:17:56 am | Posted By
CA Kapil Goel
There are many consequences where the partners feel the need to close the partnership firm. As per our Partnership Act the closure of firm is termed as dissolution of firm. In the words of bare act "The dissolution of partnership between all the partners of
a firm is called the dissolution ...
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Category : Chartered Accountant |
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0 | Hits : 1621 |
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All about Goods & Service Tax (GST)
Posted Date : 09-May-2015 , 11:16:15 am | Posted By
CA Kapil Goel
The Goods and Service Tax (GST) is a tax likely to be implemented in India, from 1st April 2016. GST is proposed to be a comprehensive indirect tax to be levied on manufacture, sale and consumption of goods as well as services at the national level. It will substitute all&nb...
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Category : GST |
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0 | Hits : 1287 |
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Indian Economy from FII perspective
Posted Date : 05-May-2015 , 12:11:12 pm | Posted By
Gautam Soni
After a 12-month honeymoon with the Narendra Modi-government at the Centre, foreign investors appear to be losing patience, as a revival in corporate earnings is taking longer than expected time
We continue to believe the market rally last year was mostly due to a global rally in equities, helped b...
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Category : International Business |
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TDS RATE CHART FOR F.Y 15-16
Posted Date : 04-May-2015 , 05:21:53 pm | Posted By
Rinki
Here is a article of TDS rate for f.y 2015-16. Financial Year 2015-16
Nature of Payment Made To Residents
Threshold (Rs.)
Company / Firm / Co-operative Society / Local Authority
Individual / HUF
If No / Invalid PAN
Section - Description
Rate (%)
Rate (%)
Rate (%)
192 - Salar...
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Category : TDS |
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Incorporation of New Company by filing a single form INC 29
Posted Date : 02-May-2015 , 07:44:22 am | Posted By
Vimmi
On the occasion of World Labor Day, Ministry of Corporate Affairs (MCA) introduced a major reform for entrepreneurs in India. Effective May 1st, incorporation of a new business will require only one form to be filled, against 8 earlier.
This new form is known as INC-29, and i...
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Category : Companies Act |
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Reason why Wealth Tax is abolished
Posted Date : 01-May-2015 , 11:13:38 pm | Posted By
Keshav Kumar KC
Respected Senior, collegues and Dear Junoir, i am back again with my new articels regarding the Wealth Tax and reason behind abolishing it.
Reason why Wealth Tax Act 1957 is abolished
Back Ground
Wealth Tax act is an act of Parliament of India which provides fo...
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Category : General |
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3 | Hits : 2128 |
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Credit of Education Cess & SHEC can be used for payment of Excise Duty by Manufacturers
Posted Date : 01-May-2015 , 07:49:06 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Credit of Education Cess & SHEC can be used for payment of Excise Duty by Manufacturers The Lok Sabha passed the Finance Bill, 2015 which includes various tax proposals presented in the Union Budget, 2015, by a voice vote on Thursday, April 30, 2015. The Hon’...
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Category : Excise |
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0 | Hits : 693 |
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GST - Good and Service Tax
Posted Date : 01-May-2015 , 02:04:43 pm | Posted By
Keshav Kumar KC
Good and Service Tax Good and Service Tax (GST) is a comprehensive tax levy on manufacture, sale and consumption of goods and services at a national level. It is the biggest tax reform in India to integrate state economy and boost overall growth. Government has been making all efforts to ensure tha...
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Category : GST |
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0 | Hits : 780 |
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MCA NEWS LETTER SUMMARY
Posted Date : 01-May-2015 , 12:16:07 pm | Posted By
Soniya
Auditor Obligations on Internal Financial Controls: A new Rule 10A has been inserted in the Companies (Audit and Auditors) Rules, 2014 in the context of Section 143(3)(i), to make it obligatory for the auditor to make a statement about existence of adequate internal financial controls system and it...
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Category : Corporate Law |
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Professional Stress & Management of Stress
Posted Date : 28-Apr-2015 , 02:36:08 pm | Posted By
Satish C. Badve
Cmd+
PROFESSIONAL STRESS & MANAGEMENT OF STRESS.
STRESS.
&nbs...
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Category : CA |
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0 | Hits : 650 |
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What is Internal Audit?
Posted Date : 24-Apr-2015 , 05:59:19 pm | Posted By
Tanmay Srivastava
What is Internal Audit?
Internal Auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing systematic , disciplined approach to eval...
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Category : Auditing |
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Basic Conditions for filing 15G & 15 H
Posted Date : 19-Apr-2015 , 08:38:35 am | Posted By
Vimmi
The basic conditions for filing 15G are—the final tax on estimated total income computed as per the Income Tax Act should be nil; and, the aggregate of the interest (excluding interest earned on securities) received during the financial year should not exceed the basic exemption slab of Rs 2...
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Category : TDS |
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Sction 3 of Companies Act 2013
Posted Date : 18-Apr-2015 , 05:51:02 pm | Posted By
Manshi Baid
SECTION 3 OF COMPANIES ACT 2013
READ WITH THE COMPANIES (INCORPORATION) RULES , 2014
FORMATION OF COMPANY
TYPES OF COMPANIES -------
Public Company --- At least 7 persons
Private Company --- At least 2 persons
One Person Company – Only one person with a person as Nomin...
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Category : Corporate Law |
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Revision in list of date of birth documents accepted for PAN application
Posted Date : 18-Apr-2015 , 10:08:33 am | Posted By
CA GOURAV MURARKA
It is hereby informed that Central Board of Direct Taxes (CBDT), Department of Revenue, Ministry of Finance vide its notification no. 995 (E) dated April 10, 2015, has amended the Rule 114(4) of Income-tax Rules, 1962 whereby certain additional documents have been prescribed as proof of Date of Birt...
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Category : Income Tax |
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0 | Hits : 1909 |
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Changes in Notified ITR 1, ITR 2 & ITR 4S for A.Y. 2015-16
Posted Date : 16-Apr-2015 , 09:24:42 pm | Posted By
Vimmi
CBDT has vide Notification No. 41/2015 Dated 15.04.2015 notified Form ITR-1, ITR-2 and ITR-4S for Assessment Year 2015-16 i.e Financial Year 2014-15. The Notification also made Several Change in Rule 12 of Income Tax Rules, 1962 which is related to Condition of Filing of Income Tax Return. A b...
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Category : ITR |
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No Service tax liability arise on loans and advances, if it is revealed in the audited balance sheet
Posted Date : 16-Apr-2015 , 01:14:42 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, No Service tax liability arise on loans and advances, if it is revealed in the audited balance sheet We are sharing with you an important judgment of Hon’ble CESTAT, Mumbai, in the case of Reliance Infratel Ltd. Vs. Commissioner of Service tax, Mumbai – II...
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Category : Service Tax |
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0 | Hits : 785 |
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CARO - Comparative study - Old vs New CARO
Posted Date : 15-Apr-2015 , 11:11:55 pm | Posted By
Vimmi
After the enactment of the Companies Act, 2013, the Companies Act, 1956 ('Old Act') ceased to have effect from April 1, 2014. As a corollary, the Companies (Auditor's Report) Order, 2003 (CARO, 2003) also ceased to have effect from the said date.
The Institute of Chartered Accountants of In...
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Category : CARO |
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0 | Hits : 2939 |
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No interest and/ or penalty can be levied just because the Assessee had paid Service tax, which was actually not payable
Posted Date : 13-Apr-2015 , 12:23:22 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, No interest and/ or penalty can be levied just because the Assessee had paid Service tax, which was actually not payable We are sharing with you an important judgment of Hon’ble High Court, Madras, in the case of Commissioner of Central Excise, Tirunelveli Vs. Su...
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Category : Service Tax |
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0 | Hits : 672 |
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Larger Bench of Tribunal held that Works Contracts are exigible to Service tax even before June 1, 2007
Posted Date : 08-Apr-2015 , 04:02:25 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, We are sharing with you an important judgment of Hon’ble CESTAT, Delhi, in the case of Larsen and Toubro Ltd, Kehems Engg Pvt Ltd Vs. CST, Delhi/ CCE & ST, Indore/ CCE/ Rajkot and CCE & ST, Indore Vs. Kehems Engineering Pvt Ltd. on the ...
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Category : Service Tax |
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0 | Hits : 735 |
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