Brief Note on Service Tax on Work Contract Service
Posted Date : 03-Jun-2013 , 12:43:40 pm | Posted By
Gaurav Dhamija
Brief Note on Service Tax on Work Contract Service
1. After the Finance Act 2012 enacted, Clause 54 of the newly introduced section 65B provides definition to works contract, which means, “a contract wherein transfer of property in goods involved in the execution of such contract is le...
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Category : Service Tax |
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Believing in Yourself, Even When Others Don't
Posted Date : 01-Jun-2013 , 12:46:26 am | Posted By
Vinay Sharma
Believing in Yourself, Even When Others Don't
Inevitably in life, we will face disapproval or rejection from others. It might be a family member, friend, employer, or even a stranger. They might disagree with the way we live our lives, the decisions we make for ourselves, or even who we ar...
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Category : General |
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Status of Exporter- Must read once
Posted Date : 31-May-2013 , 03:52:27 pm | Posted By
Gaurav Dhamija
EXPORT AND TRADING HOUSES
1) Eligibility for Export and Trading Houses Status= Merchant as well as Manufacturer Exporters,
Service Providers, Export Oriented Units (EOUs) and Units located in Special Economic Zones (SEZs),
Agri. Export Zone...
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Category : General |
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COMPANIES (AUDITOR
Posted Date : 31-May-2013 , 03:50:44 pm | Posted By
Gaurav Dhamija
COMPANIES (AUDITOR’S REPORT) ORDER, 2003
APPRAISAL NOTE
Applicability (Any of the Following)
1. Paid – up capital and reserves of more than 50 Lacs.
2. Has accepted any public deposit.
3. Turnover exceeding Rs....
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Category : Auditing |
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What is the procedure for registration with APEDA?
Posted Date : 31-May-2013 , 03:48:39 pm | Posted By
Gaurav Dhamija
A) What is the procedure for registration with APEDA?
Any exporter may get registered with APEDA as per the guidelines for registration.
The Registration can be done through two ways:
I. Through APEDA Head office or Regional office. F...
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Category : General |
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Audit Procedure
Posted Date : 31-May-2013 , 03:46:40 pm | Posted By
Gaurav Dhamija
GENERAL PROCEDURES:
1. Study the previous year’s income tax file of the concern maintained by the Chartered Accountant.
Documents which we have to study in the file said above:
a. General information about the clien...
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Category : Auditing |
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Procedure for Firm Registration
Posted Date : 31-May-2013 , 02:25:05 pm | Posted By
Vinay Sharma
Procedure for Firm Registration
The law relating to a partnership firm is contained in the Indian Partnership Act, 1932.
Under Section 58 of the Act, a firm may be registe...
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Category : General |
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Scope of Company Secretary - Opportunities For An Excellent Career Option
Posted Date : 31-May-2013 , 02:18:39 pm | Posted By
Manjit Banga
To all those who are in grade 12th or have passed it, may have a doubt in their mind about what career they want to pursue in the future which will give them self satisfaction. There are many options if you have chosen commerce as your subject of interest. So, if you’re from commerce field (wh...
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Category : Students Zone |
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PENALTY FOR OFFENCES BY DIRECTOR ETC. OF COMPANY
Posted Date : 31-May-2013 , 12:06:00 pm | Posted By
Gaurav Dhamija
PENALTY FOR OFFENCES BY DIRECTOR ETC. OF COMPANY
Position prior to Finance Act, 2013 (Prior to 10.05.2013)
None of the aforementioned provisions provide for personal penalty on partners / proprietor of the firm. However, section 77 talks of any person but su...
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Category : Income Tax |
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Guidelines For Suo Motu Disclosure by Ministries
Posted Date : 30-May-2013 , 10:40:33 pm | Posted By
Vinay Sharma
Govt has issued guidelines for suo motu disclosure by Central Government Ministries/Departments and Public Authorities thereunder. These guidelines are based on the recommendation of the Task Force set up by the Government for strengthening compliance with provisions for suo mot...
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Category : General |
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Digest of important case law
Posted Date : 30-May-2013 , 02:55:17 pm | Posted By
Gaurav Dhamija
S 2(15):Charitable purpose-Trade business or commerce-Public utility-Activity of evolving, prescribing, standards Activities cannot be termed as business activity-Exemption was granted. (S.10) (23C).The Bureau of Indian Standards (BIS), a sovereign entity created under the Bureau of Indian Standar...
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Category : Income Tax |
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Tax related updates In budgets
Posted Date : 30-May-2013 , 02:38:04 pm | Posted By
Gaurav Dhamija
Tax related updates In budgets
ü Good news for home loan takers. People taking a home loan in 2013-14 for an amount up to Rs 25 lakh will be allowed an additional deduction of Rs 1 lakh.
ü Budget 2013: Home loan borrowers allowed additional deduction of Rs 1 lakh.
...
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Category : Income Tax |
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FAQ - Service Tax Voluntary Compliance Encouragement Scheme, 2013
Posted Date : 30-May-2013 , 12:46:14 pm | Posted By
Gaurav Dhamija
Q. What is the Date of implementation of Service Tax Voluntary Compliance Encouragement Scheme, 2013 ?
After receiving the assent from President of India to the Finance Bill 2013-14.
Q. Scheme to whom it is applicable?
The person who has not paid the ...
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Category : Service Tax |
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HOw to calculate ECGC CHarges
Posted Date : 30-May-2013 , 10:34:40 am | Posted By
Gaurav Dhamija
ECGC Charges
Export Credit Guarantee Corporation charges is payable on Packing credit on monthly basis.
How To Calculate ECGC Charges:-
1) 1) Calculate total of Per day Closing balance
2) 2) Calculate Average of per day closing balance
3)...
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Category : General |
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Appearance Manner
Posted Date : 30-May-2013 , 09:43:51 am | Posted By
Gaurav Dhamija
Appearance
· Start buying things that you need MOST.
· Observe people around you- Then go to store to buy.
· Matching Sense:
SHOE ...
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Category : Students Zone |
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CORPORATE PARTIES Manners
Posted Date : 30-May-2013 , 09:43:11 am | Posted By
Gaurav Dhamija
CORPORATE PARTIES Manners
· Never go to people to talk who are in group of TWO-Its not a corporate attitude.
(Do Bande baat kar rahe hai unke pass mat jao baat Karne).
· Take permission first to jo...
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Category : Students Zone |
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Positive Thinking - You Are What You Thinking
Posted Date : 29-May-2013 , 05:02:41 pm | Posted By
Rohit Gattani
Ø Positive thinking is a mental attitude that anticipates happiness, success and favorable outcomes in every situation or action you do.
Ø The thoughts get registered in your subconscious mind and you start taking action to create favorable change.
Ø&...
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Category : Income Tax |
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Important Topics for Advanced Auditing,
Posted Date : 29-May-2013 , 04:05:06 pm | Posted By
Gaurav Dhamija
Important Topics for Advanced Auditing, 1. Appointment of Auditor by Special Resolution: Material date for 25% holding of subscribed share capital 2. Audit of Branch Accounts and Exemption thereto 3. Appointment of Special Auditor u/s 233A and/ vis-à-vis communication under Clause 8 Par...
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Category : Students Zone |
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Service Tax Reverse Charge Mechanism
Posted Date : 29-May-2013 , 04:04:08 pm | Posted By
Gaurav Dhamija
Section 68 of Finance Act, 1994
• Sec 68 (2) provides legal backing for the levying of Service Tax under reverse charge mechanism. Sec 68 (2) is worded as follows:-
- “In respect of such taxable services as may be notified by the Central Government in the Official Gazette, ...
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Category : Service Tax |
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Tax Benefits
Posted Date : 29-May-2013 , 03:54:06 pm | Posted By
Gaurav Dhamija
In case the House Rent Allowance (H.R.A.) is provided then there will be a tax savings (Please refer Valuation sheet for details). The above mentioned savings is mainly because of themethods Income tax act and Rules employs for valuation of taxability of H.R.A a...
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Category : Income Tax |
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