Articles on Tax, Corporate Law, Recent Judgement

In the case of a salaried taxpayer, entire tax liability is discharged by the employer through deduction of tax at source. Complete details of such taxpayers are also reported by the employer through Tax Deduction at Source (TDS) statements. Therefore, in cases where there is no other source of income, filing of a return is a duplication of existing information. Full Article

What is the procedure to retrieve TAN - A written request on the letter head has to be sent to NSDL mentioning name of Deductor, TAN and requesting for retrieving TRN. The letter should be signed by ‘Managing Director’ or ‘Chief Financial Officer’ or authorized signatory in the organization along with name and designation and should be preferably digitally signed Full Article

First Stage Dealer means a dealer, who purchases the goods directly from (i) the manufacturer under the cover of an invoice issued in terms of the provisions of Central Excise Rules, 2002 or from the depot of the said manufacturer, or from premises of the consignment agent of the said manufacturer or from any other premises from where the goods are sold by or on behalf of the said manufacturer, under cover of an invoice. Full Article

It is necessary to ENABLE the execution of macros in Return-Preparation-Utility in order to enter, validate and generate an .XML file for upload. Follow these steps to ENABLE execution of macros depending on the version of [Microsoft Office Excel] being used to open the Return-Preparation-Utility : Full Article

As from 1.4.2012 the determination of point of taxation is on the basis of invoices for large CA firms. For this several representations were made to CBEC requiring clarification of invoices issued on or before 31st March 2012 where the payment has not been received before 1st April 2012. Full Article

Basic requirements for the existence of an HUF are as follows :(i) Only one co-parcener or member cannot form an HUF Family is a group of people related by blood or marriage. A single person, male or female, does not constitute a family. However the property held by a single co-parcener does not lose its character of Joint Family property solely for the reason that there is no other male or female member at a particular point of time. Once the co-parcener marries, an HU.. Full Article

Government of Maharashtra has made it mandatory for all dealers to file their VAT returns only through electronic format. Dealers can e-file periodical returns from any place at any time through Government of Maharashtra website  ( http://www.mahavat.gov.in ) using the Internet. Government of Maharashtra has taken lot of measures to ensure that the return filing information is made [...] Full Article

What is Electronic Clearing Service (ECS)? It is a mode of electronic funds transfer from one bank account to another bank account using the services of a Clearing House. This is normally for bulk transfers from one account to many accounts or vice-versa. This can be used both for making payments like distribution of dividend, interest, salary, pension, etc. by institutions or for collection of amounts for purposes such as payments to utility companies like telephone,.. Full Article