How to save tax in HUF
Posted Date : 26-Aug-2013 , 04:37:15 pm | Posted By
Keshav Kumar KC
KEY POINTS IN CREATION OF HUF AND FORMAT OF DEED FOR CREATION OF HUF
1. Under the Income Tax Act, an HUF is a separate entity for the purpose of income tax return.
2. The same tax slabs are applicable to HUF as to individual assessee.
3. You can not transfer your own assets/money into HUF.
4...
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Category : Income Tax |
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1 | Hits : 1354 |
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Appointment of Auditor Under New Companies Bill, 2013
Posted Date : 26-Aug-2013 , 04:22:15 pm | Posted By
Keshav Kumar KC
Appointment of Auditor under new Companies Bill, 2013 (Companies Act)
The appointment of auditor under new Companies Bill, 2013 has made major changes in appointment procedure and tenure of appointment in comparison to the Companies Act, 1956. Section 224 to 233 of the Companies Ac...
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Category : Auditing |
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0 | Hits : 2235 |
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Cost Accountant linking Internal Audit through Balanced Scorecard
Posted Date : 25-Aug-2013 , 06:33:42 pm | Posted By
INDRANEEL SEN GUPTA
Four pillars of the balanced score card have been discussed many times through my pen. Balanced score card needs to be linked with the enterprise value of the organization. Enterprise valuation means in simple formula
Enterprise value = Equity value + market value of debt + minority interes...
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Category : Auditing |
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1 | Hits : 778 |
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Why our currency value is Falling day by day?
Posted Date : 25-Aug-2013 , 11:18:27 am | Posted By
Keshav Kumar KC
Usual discussions on the fall in the rupee bring up macro-economic matters such as slowing economic growth, corporate earnings and market volatility. However, the woes aren't restricted to corporate corridors or the Dalal Street. For the common man, the falling rupee is going to hit where it hurts t...
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Category : RBI |
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PROSECUTION AND INTEREST ON LATE DEPOSIT OF TDS
Posted Date : 23-Aug-2013 , 01:12:16 pm | Posted By
CA GOURAV MURARKA
TDS under income tax is main source of tax collection by the Government. However many times the tax Deductors ,after deducting TDS from specified payments, are deliberately not depositing the taxes so deducted in Government account and continue to deploy the funds so retained for business purposes o...
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Category : Income Tax |
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WHAT YOUR HANDWRITING MEANS
Posted Date : 23-Aug-2013 , 09:28:28 am | Posted By
Gaurav Dhamija
WHAT YOUR HANDWRITING MEANSIf letters slant to the left: Indicates introspection and a lot of emotional control. If letter slant to the right: Reveals a person who’s outgoing, friendly, impulsive, and emotionally open. If letters are straight up and down: The sign of someone who&rsqu...
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Category : General |
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PROVISIONS FOR AUDITOR AND ABOUT AUDIT IN NEW COMPANIES BILL
Posted Date : 19-Aug-2013 , 01:31:40 pm | Posted By
CA GOURAV MURARKA
APPOINTMENT OF AUDITOR: Every company shall, at the first annual general meeting, appoint an individual or a firm as an auditor who shall hold office from the conclusion of that meeting till the conclusion of its sixth annual general meeting and thereafter till the conclusion of every sixth meeting....
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Category : Corporate Law |
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1 | Hits : 1466 |
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Filing Of Income Tax Return Of Deceased Assessee
Posted Date : 18-Aug-2013 , 12:51:25 am | Posted By
Vinay Sharma
It is said that the only sure things are death and taxes, but even death doesn’t save a person from having to pay taxes. Taxpayers are required to file an income tax return as per the law for any year in which a filing requirement exists.
Return filing for all assesses is necessar...
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Category : Income Tax |
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PROCESS FOR CLAIMING EPF ONLINE
Posted Date : 17-Aug-2013 , 05:25:55 pm | Posted By
CA GOURAV MURARKA
PROCESS FOR CLAIMING EPF ONLINE: EPFO would introduce a new system to facilitate online submission of transfer claims by Members with an objective to make the transfer process transparent, efficient and comfortable for your employees. A member has an option to submit his claim either through his pre...
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Category : General |
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0 | Hits : 640 |
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How HUF Can Save Tax
Posted Date : 16-Aug-2013 , 02:00:23 pm | Posted By
Vinay Sharma
The HUF concept is not new in India, and is one of the best ways to save tax. Any married man from the Hindu, Jain, Sikh, or Buddhist community can form an HUF, and will act as the “Karta” or the head of this family. According to Indian law, an HUF will be considered as a separate entity...
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Category : Income Tax |
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7 Lessons Financial Planners Should Learn from Milkha Singh
Posted Date : 16-Aug-2013 , 01:54:24 pm | Posted By
Vinay Sharma
“Bhaag Milkha Bhaag” a successful biopic film of the year has taught many things to the viewers. We need to give some time and thought to understand inspiration, motivation and messages movie is conveying to its audience. After watching this movie, I jotted down my thoughts to frame this...
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Category : Income Tax |
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9 | Hits : 2405 |
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Company Secretary Course and Its Scope as a Career
Posted Date : 16-Aug-2013 , 10:53:25 am | Posted By
Manjit Banga
There is no doubt in stating that a company secretary is one of the most important people in an organization. A company secretary ensures that the company which he/she is working in complies with all the applicable laws and acts in accordance with the regulatory authorities. A CS is a person who...
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Category : Students Zone |
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0 | Hits : 543 |
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Change in PAN Card Details: Things to know
Posted Date : 14-Aug-2013 , 01:59:48 pm | Posted By
Vinay Sharma
The permanent account number (PAN) has to be quoted in the income tax returns and for various financial transactions, such as investments, and purchase/sale of property. As such it should be updated at all times. In case of an error in the photo or signature mismatch, the holder must ensure that a n...
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Category : Income Tax |
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0 | Hits : 1682 |
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Remembering Technique For 21 Points Of "CARO"
Posted Date : 14-Aug-2013 , 01:56:14 pm | Posted By
Vinay Sharma
Remembering Technique For 21 Points Of "CARO"
" IF CCD IS FILLED GRAB SPECIAL (SPL) TEA (T)" I - INVETORIES F - FIXED ASSETS C - COST ACCUNTING RECORDS C - CHIT FUNDS D - DEPOSIT I - INTERNAL CONTROL S - STATUTARY DUES F - FRAUD I - INTERNAL AUDIT L - LOAN TO/FROM DI...
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Category : Students Zone |
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Important Topics
Posted Date : 13-Aug-2013 , 02:41:25 pm | Posted By
Vinay Sharma
Important Topics – [CA-IPCC – Group 1 : November 2013 Exams] - Top 5 Chapters
For those who are preparing for IPC November 2013, take a look at the article which can help you in studies. Sharing an article with some important areas of syllabus alongwith tips and rec...
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Category : Students Zone |
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Important Topics
Posted Date : 13-Aug-2013 , 02:39:15 pm | Posted By
Vinay Sharma
Important Topics – [CA-IPCC – Group 2 : November 2013 Exams] - Top 5 Chapters
GROUP 2
PAPER 5
ADVANCED ACCOUNTING
1. AS
2. Insurance companies’ financial statement
3. ...
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Category : Students Zone |
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Pyaar Ka Punchnama Returns (In Office) - Dedicated to All Article Assistants
Posted Date : 11-Aug-2013 , 02:04:44 pm | Posted By
Vinay Sharma
Pyaar Ka Punchnama Returns (In Office) Dedicated to all Article Assistants:
whats the Problem ?
problem ye hai ki wo boss hai aur main article,
Problem ye hai ki main chahta hu ki meri life mein koi problem hi na ho, lekin agar meri life mein koi problem na ho to ye uski life sabse badi probl...
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Category : General |
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2 | Hits : 1071 |
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How To Incorporate a Corporate Entity in India?
Posted Date : 10-Aug-2013 , 12:38:27 pm | Posted By
Vinay Sharma
A corporate entity in India is governed by provisions of The Companies Act 1956 (The Act).
The Act permits primarily two kinds of Companies –
a) Private limited Company
b) Public limited Company
Both are companies with limited liabilities; owned by shareholders & gove...
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Category : Corporate Law |
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0 | Hits : 1331 |
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know All About Provident Funds
Posted Date : 10-Aug-2013 , 12:18:40 pm | Posted By
Vinay Sharma
know All About Provident Funds
Under Income Tax Act, 1961, contribution by employer and employee to the provident fund account enjoys certain tax benefits and some are taxable as well.
Provident Funds provides a compulsory contribution for the future of an employee aft...
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Category : Income Tax |
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0 | Hits : 506 |
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Important Features Of The Companies Bill, 2012
Posted Date : 09-Aug-2013 , 11:41:06 am | Posted By
Vinay Sharma
Important Features Of The Companies Bill, 2012
The Parliament has passed the historic Companies Bill 2012, moved by Shri Sachin Pilot, Minister of Corporate Affairs. The Bill was passed by the Rajya Sabha here today which had already been passed by the Lok Sabha many months ago (in December...
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Category : Corporate Law |
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0 | Hits : 486 |
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