Posted Date : 15-Feb-2019 , 04:40:38 pm | Posted By Lalit Rajput

LLP Compliance Calendar This article covers the Mandatory Compliances to be followed by a LLP under Registrar of Companies, Ministry of Corporate Affairs, mentioned under LLP Act, 2008 and Income Tax Act, 1961 including Tax audit provisions.  Some key points are also given regarding LLP &nb...

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Category : Income Tax | Comments : 0 | Hits : 825

Posted Date : 30-Dec-2018 , 04:21:58 pm | Posted By Ashutosh

Does your heart aspire to unleash the fullest potential of yourself and become one of the finest “Chartered Accountant”? I am sure it’s a thundering YES!! We keep upgrading our cell phones every year to have better camera, better speed, better memory and better experience. Anyone...

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Category : Income Tax | Comments : 1 | Hits : 1179

Posted Date : 29-Dec-2018 , 11:50:24 am | Posted By Vivek Mittal

Dear Professional Colleagues,  This Amendment Will Apply To Assessment Year 19-20 & Subsequent Years. 1)The finance minister has proposed to increase cess on personal income tax and corporation taxto 4% from present 3%. This will increase the effective income tax an individual taxpayer pa...

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Category : Income Tax | Comments : 0 | Hits : 340

Posted Date : 25-Oct-2018 , 12:18:53 pm | Posted By ADCA

Introduction: Many people have question about maximum cash they can give or accept without facing any problem under Income Tax Act. People have lot of doubts on one can accept cash and give cash whether in form of loan, advance, deposit or against a business transaction. How much cash sales one...

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Category : Income Tax | Comments : 0 | Hits : 1800

Posted Date : 30-Jul-2018 , 06:28:44 pm | Posted By Chunauti H. Dholakia

Income Tax on Agriculture   Agriculture plays a vital role in Indian economy. Agricultural income declared by individual assessee who filed returns is over 20 times of country’s GDP. Except for two short periods of nine years in all (1860-1865 and 1869-1873) agricultural incomes have bee...

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Category : Income Tax | Comments : 1 | Hits : 5177

Posted Date : 16-Jul-2018 , 08:32:56 am | Posted By May I Help You.

NACAS was only advisory body until the 2013 amendment of Company Act when it was renamed NFRA, a powerful regulatory agency.  The process of implementation of NFRA was started in June 2015, when companies law committee was set up and submitted its report in February 2016 to the standing commit...

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Category : Income Tax | Comments : 0 | Hits : 2035

Posted Date : 20-Jun-2018 , 12:14:11 pm | Posted By CA Tanya Panwar

Dear Professional colleagues, Greetings for the Day! This is to notify you all that E-Way bill has become partially applicable in Delhi effective 16.06.2018, for intrastate movement of Value exceeding 1 lakh. Commissioner State GST, Delhi has come out with Notification No. 3/2018 dated 15.06.20...

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Category : Income Tax | Comments : 0 | Hits : 1378

Posted Date : 18-Jun-2018 , 06:16:28 pm | Posted By Umesh Yelnure

Income Tax Forms for e-filling and Due Dates for FY 2017-18 (AY 2018-19) There are the different category of taxpayer viz. Individual, HUF, Firm, LLP, Company, Trust and AOP/BOI. Due Date is different according to audit or non-audit case of such categories as defined in section 139(1) Last Date of...

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Category : Income Tax | Comments : 0 | Hits : 1406

Posted Date : 17-May-2018 , 05:21:12 pm | Posted By CA Chetan Vispute

Section 269ST: (For Detail Video Click on the above link, Video Includes Images with example) Prohibits receipt of an amount of Rs. 2 lakh or more by a person, In aggregate from a person in a day;  or In respect of a single transaction; or In respect of transactions relating to one event...

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Category : Income Tax | Comments : 0 | Hits : 3368

Posted Date : 14-Apr-2018 , 01:22:01 pm | Posted By Mohnish Wadhwa

‘Thin Capitalisation’ is a situation where an entity is financed at a relatively high level of debt compared to equity. Some multinational companies engage in aggressive tax planning techniques such as placing higher levels of third party debt in high tax countries, using intragroup loan...

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Category : Income Tax | Comments : 0 | Hits : 1906

Posted Date : 11-Apr-2018 , 08:49:33 pm | Posted By Saloni Dhawan

Payment To Contractors – Section 194C ♦ As per Section 194C, Any person responsible for paying any sum to any resident for carrying out any work (including supply of labour for carrying out any work) in pursuance of a contract between the contractor and a specified person shall, at the ...

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Category : Income Tax | Comments : 0 | Hits : 4032

Posted Date : 17-Feb-2018 , 11:26:19 pm | Posted By CA Sandeep Dash

Benjamin Franklin once said- “Nothing is certain except for death and taxes”. And to add to this, arguably the smartest man to ever live- Albert Einstein said "The hardest thing in the world to understand is the income tax." Most common folks don't understand death. And taxes too face a...

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Category : Income Tax | Comments : 0 | Hits : 2082

Posted Date : 15-Feb-2018 , 05:01:17 pm | Posted By Bhagyashree Jain

Various steps have been taken for removal of unaccounted assets by Government like The Black Money Foreign Income and Asset Act, 2015, Income Disclosure Scheme 2016, Demonetization of high denomination currency, Prime Minister Garib Kalyan Yojna, by amendments in Income Tax Act, by amendments in Mon...

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Category : Income Tax | Comments : 0 | Hits : 2100

Posted Date : 12-Feb-2018 , 12:10:42 am | Posted By Bhagyashree Jain

Electronic assessment, also known as e-assessment, online assessment, computer assisted/mediated assessment and computer-based assessment, is the use of information technology in various forms of assessment.  Finance Minister, Arun Jaitley, also announced of such scheme in his budget speech on ...

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Category : Income Tax | Comments : 0 | Hits : 2279

Posted Date : 11-Feb-2018 , 06:26:41 pm | Posted By Mamta Kumari

Now incorporate a society is an easy procedure by follow some points in mind: PAN Card of all the members of the proposed society has to be submitted along with the application. The Residence Proof of all the members of the society also has to be submitted. The following can be us...

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Category : Income Tax | Comments : 0 | Hits : 606

Posted Date : 01-Feb-2018 , 01:54:09 pm | Posted By VIJAY SARATHI

Direct Taxes   No personal income tax changes proposed in budget.   Corporate tax of 25% extended to companies with turnover up to Rs. 250 crore in financial year 2016-17.   100% tax deduction is allowed to co-operative societies     Incentives for senior c...

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Category : Income Tax | Comments : 0 | Hits : 829

Posted Date : 16-Jan-2018 , 11:10:30 am | Posted By Atul MIshra

Landlord’s PAN not needed to claim HRA if annual rent is below Rs 1 lakh. An employee who receives HRA can claim an exemption in respect of rental payments under section 10(13A) read with rule 2A of the Income Tax Rules. For claiming an HRA exemption, the individual must be residing in a rent...

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Category : Income Tax | Comments : 0 | Hits : 679

Posted Date : 02-Jan-2018 , 03:07:47 pm | Posted By Poojamittal

CAPITAL GAIN TAX IN INDIA CAPITAL ASSETS A capital asset is defined to include property of any kind held by an assessee, whether connected with their business or profession or not connected with their business or profession. It includes all kinds of property, movable or immovable, tangible or int...

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Category : Income Tax | Comments : 0 | Hits : 850

Posted Date : 20-Dec-2017 , 12:46:53 pm | Posted By Pooja Mittal

Section 195 of Income Tax Act 1961 Section 195 of the Income Tax Act is a section that covers the TDS on Non-resident payments. This section identifies the tax rates and deductions on business transaction with a non-resident from a day –to-day basis. Under Section 195, the income is cha...

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Category : Income Tax | Comments : 0 | Hits : 1425

Posted Date : 22-Nov-2017 , 07:38:15 pm | Posted By CA. Brijesh Baranwal

TDS ON PAYMENT OF RENT MORE THAN RS. 50,000 PER MONTH BY INDIVIDUALs/HUFs   EXISTING LAW   There is an existing provision for deduction of TDS (deduction of tax at source) under section 194-I in the Income Tax Act, 1961 for individuals/HUFs, wherever tax audit is applicable.   INTRODU...

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Category : Income Tax | Comments : 0 | Hits : 1491