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...

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Category : ITR | Comments : 0 | Hits : 1402

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...

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Category : TDS | Comments : 0 | Hits : 1244

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 | Comments : 0 | Hits : 2498

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 | Comments : 0 | Hits : 1664

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 | Comments : 0 | Hits : 1335

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 | Comments : 0 | Hits : 826

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 | Comments : 0 | Hits : 3564

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 | Comments : 0 | Hits : 976

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 | Comments : 3 | Hits : 2152

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 | Comments : 0 | Hits : 718

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 | Comments : 0 | Hits : 838

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 | Comments : 0 | Hits : 736

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 | Comments : 0 | Hits : 669

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 | Comments : 0 | Hits : 1393

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 | Comments : 1 | Hits : 1874

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 | Comments : 0 | Hits : 1156

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 | Comments : 0 | Hits : 1928

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 | Comments : 0 | Hits : 1698

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 | Comments : 0 | Hits : 813

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 | Comments : 0 | Hits : 3011