Few tips to Prevent Income Tax Raids
Posted Date : 24-Mar-2013 , 06:02:45 pm | Posted By
Vinay Sharma
Top of Form
Few tips to Prevent Income Tax Raids. One should not keep any unaccounted or undisclosed money, property or income popularly known as black money. If such a disclosure is made before its detection by the Income Tax Department, the chances of being trapped in a tax raid are minim...
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Category : Income Tax |
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Suggestions and Important Topics for Paper 1 - Financial Reporting ( CA Final )
Posted Date : 21-Mar-2013 , 03:27:18 pm | Posted By
Vinay Sharma
Suggestions and Important Topics for Paper 1 - Financial Reporting ( CA Final )
1. Start with AS as it has highest weightage around 40 marks, First and last question consists of AS only. Refer Practice Manual Questions and Module examples straight forward 2-3 questions will be out of them. ...
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Category : Students Zone |
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Incentivizing flow of funds from foreign subsidiaries into India
Posted Date : 20-Mar-2013 , 11:54:40 pm | Posted By
Mayank Singla
The Hon’ble Finance Minister (FM) presented the Union Budget 2013amidst major challenges facing the Indian economy. Some of the most important considerations for the FM were reviving growth, increasing savings and investments, reining in inflation and gaining back the confidence of...
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Category : Income Tax |
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Pre-requisites of Section 91(1) and 192 of I.T. Act, 1961
Posted Date : 20-Mar-2013 , 06:41:02 pm | Posted By
Vinay Sharma
Pre-requisites of Section 91(1) and 192 of I.T. Act, 1961
FACTS OF THE CASE
1. The assessee had paid tax of Rs. 82 Lakhs in Kuwait on income earned by it there during the previous year 1996-97 and accordingly claimed the benefit thereof in India in accordance with pro...
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Category : Income Tax |
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SEBI
Posted Date : 20-Mar-2013 , 05:47:45 pm | Posted By
Mayank Singla
1. In order to address the issue of mis-selling, a Committee was set up to examine the system of Product Labeling that would provide investors an easy understanding of the kind ofproduct/scheme they are investing in and its suitability to them. Based on the recommendations...
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Category : SEBI |
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Section 115A recent amendment, the logic & reasoning behind it vague?
Posted Date : 20-Mar-2013 , 05:40:19 pm | Posted By
Mayank Singla
The Financial Budget 2013bringing in many changes that are proposed to be implemented from 1st April, 2013 has bought in serious issues to be looked for and analysed by the tax regulators and experts.
Section 195 of the Income Tax Act, 1961 states that: The income earne...
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Category : Income Tax |
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Service Tax on Restaurants(Complete Guide)
Posted Date : 19-Mar-2013 , 03:21:38 pm | Posted By
Harshit Gupta
Service Tax Applicability on Restaurants, Hotels
Applicabilty before 1st April 2013
All kind of restaurant whether big ,small should pay service taxonly if :
-Services Provided in relation to serving of food restaurant or beverages by a restaurant, eating joint or a mess having the faci...
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Category : Service Tax |
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8 Lies Of A Mother : Must Read
Posted Date : 19-Mar-2013 , 12:55:20 pm | Posted By
Vinay Sharma
8 Lies Of A Mother
The story begins when the person who shared this was a child.
Born into a very poor family, often there was not much to eat in the house. Whenever there was some food, the Mother would give her portion of rice to the child and ...
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Category : Income Tax |
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Assortment of Amendments in Penal Provisions of Service Tax
Posted Date : 19-Mar-2013 , 01:14:40 am | Posted By
Mayank Singla
Beware if you are the one illicitly holding the government revenue!!! Government is all set to severely punish the people contravening the provisions of Finance Act, particularly, when one collect theservice tax and fails to deposit the same to government exchequer. Where the amount involved ...
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Category : Service Tax |
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3G Failed and Now 4G
Posted Date : 17-Mar-2013 , 07:03:08 pm | Posted By
INDRANEEL SEN GUPTA
When an Industry finds stupendous growth in the short term then Indian government places Brakes on such growth story in the long term of the Industry. Online business has made tremendous business revolution for every segment of the industry across the countries. India is ...
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Category : International Business |
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Points to Keep in Mind while E-filing of Income Tax Return
Posted Date : 16-Mar-2013 , 03:22:16 pm | Posted By
Vinay Sharma
Some important Do’s & Don’t are given below by Income Tax Department in the interest of assessee which should be read carefully before submitting any e-filing of Income Tax and TDS Return.
E-Filing – Do’s & Do...
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Category : Income Tax |
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Steps to Check Inflow of Illegal Money
Posted Date : 16-Mar-2013 , 01:25:48 pm | Posted By
Vinay Sharma
Steps to Check Inflow of Illegal Money
Reserve Bank of India (RBI) has issued comprehensive instructions/guidelines to banks on Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards/Combating of Financing of Terrorism (CFT)/Obligation of banks under PMLA, 2002.
Al...
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Category : General |
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Wake up call to ICAI, after this sting operation of Leading private banks
Posted Date : 16-Mar-2013 , 12:35:47 pm | Posted By
Himanshu Kansal
An Undercover sting investigation accross India has shown up starting videos of bank executives of leading private banks- HDFC, ICICI and AXIS bank- providing ready assistance to a reporter, posing as a minister's aide, for laundering black money into white money through th...
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Category : General |
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Payment to Non Resident for buying an immovable property
Posted Date : 15-Mar-2013 , 11:57:43 pm | Posted By
Yogesh Kumar Agarwal
Purchase of Immovable Property by a resident from Non-Resident situated in India
Practical problem with the payment to Non – Resident for buying immovable Property from him and tax to deducted therefrom.
The first liability comes under section 195 of the Act, as per the section if any pers...
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Category : Income Tax |
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Must Read - Steve Jobs' Awesome Convocation Speech at Stanford
Posted Date : 14-Mar-2013 , 08:43:33 pm | Posted By
Vinay Sharma
Steve Jobs' Awesome Convocation Speech at Stanford
Thank you. I'm honored to be with you today for your commencement from one of the finest universities in the world. Truth be told, I never graduated from college, and this is the closest I've ever gotten to a college graduation. Tod...
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Category : General |
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Guide to Indirect Tax : Budget 2013
Posted Date : 14-Mar-2013 , 03:55:39 pm | Posted By
Vinay Sharma
Guide to Indirect Tax : Budget 2013
The Union Budget 2013 rolled out many provisions for indirect taxes. Here's a look at some of these proposals and their impact:
Proposal
Impact
Customs duty free allowance threshold in respect of jewellery for an Ind...
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Category : General |
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A BIRD'S EYE VIEW ON CHANGES IN CUSTOM LAWS BY FINANCE BILL 2013
Posted Date : 14-Mar-2013 , 03:49:27 pm | Posted By
Vinay Sharma
PART A : CHANGES IN DUTY STRUCTURE
[w.e.f. 1-3-2013]
Ch. or Tariff Heading
Product
Change
Ref.
8
Hazelnuts
Duty reduced from 30% to 10%
Notification No. 12/2013-Customs
0802 50 00
Pistachios
Technical change made. New sub-...
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Category : Custom |
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FAQ on Banking Ombudsman & Their Address & Area of Operation
Posted Date : 13-Mar-2013 , 01:49:16 pm | Posted By
Vinay Sharma
The Frequently Asked Questions on Banking Ombudsman Scheme, 2006 are as follows :
A. INTRODUCTION:
1. What does the Banking Ombudsman Scheme, 2006 offer?
The Banking Ombudsman Scheme, 2006 enables resolution of complaints of bank customers relating to certain services rendered by banks.
2. Has...
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Category : Banking |
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IS INDIA IS READY TO ADOPT
Posted Date : 12-Mar-2013 , 11:22:05 pm | Posted By
S Jain
v To be successful, India’s APA program need to provide an atmosphere in which all parties can come to the table intending to find a mutually satisfactory arrangement.
v The APA scheme has many advantages. It will provide tax certainty with regard to determination of...
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Category : Income Tax |
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Service Tax-Real Estate(Complete Scenario)
Posted Date : 12-Mar-2013 , 04:05:19 pm | Posted By
Harshit Gupta
Service Tax Applicability on Real Estates(Developers and Contractors)
Service Tax:
All services are made taxable execpt:
1. Negative List Based Services
2. Mega Notification Based Service
3. &...
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Category : Service Tax |
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