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Income Tax - Do you know that on a particular portion of your income, the quantum of tax levied on income is higher than the quantum of such income? No. Then let’s understand the concept of income-tax rates in India, marginal relief and the inconsistency in the provisions of the Income-tax Act, 1961 while providing the relief to […]...
Read MoreCA, CS, CMA - A systematic approach to divide your GST & Income Tax work according to Time available & its Gravity. Some are good at time management and some are not. CA practice has become all about time management. Specially those who are into traditional practice of GST and income tax. April to September is chaotic.. Income tax […]...
Read MoreGoods and Services Tax - GSTR 9 is an annual return which needs to be filed by the registered persons once in a year. It consists of details regarding the supplies made and received during the year i.e it is consolidation of the information furnished in the monthly or quarterly returns during the year....
Read MoreIncome Tax - The season for filing income tax returns (ITR) is gathering pace as the due date of 31st July is approaching for the majority of taxpayers. Before you actually sit down to file your ITR or visit the office of your tax advisors, you need to do some ground preparation so that the information given in […]...
Read MoreIncome Tax - Annually the Income tax department verifies the accuracy of the income tax returns filed by taxpayers by sending scrutiny notice to them. This is aimed at ensuring that the taxpayer has not understated the income or has not computed excessive loss or has not underpaid tax. Scrutiny notice received by an individual can be grouped […...
Read MoreCA, CS, CMA - Indian Bank Date: 18.05.2019 Empanelment of Concurrent Audit & Stock Audit √ Indian Bank conducts process for Empanelment of Concurrent Auditors once in a year. Indian Bank invites applications in the prescribed format only from the practicing firms of Chartered Accountants of India, who are willing to have their firm empanelled as ...
Read MoreCompany Law - This is a brief note on the forms introduced by MCA under Chapter VI Registration of Charges and Rules thereto which includes Form CHG-1, Form CHG-2, Form CHG-3, Form CHG-4, Form CHG-5, Form CHG-6, Form CHG-7, Form CHG-8 and Form CHG-9 vide Companies (Registration of Charges) Rules, 2014 as amended by Companies (Registration of Charges) [...
Read MoreSEBI - The objective of this discussion paper is to seek comments / views from the public and market intermediaries on Review of Rights Issue Process....
Read MoreGoods and Services Tax - JOIN GST Practitioner Advanced Certified Training course of Ministry of M.S.M.E. at Bangalore, Chennai, Cochin, Indore, Jaipur, Mumbai, Hyderabad, Coimbatore, Goa, Trichy, Agra, Bareilly, Lucknow, Ahmadabad, New Delhi and Kolkata in May, June and July 2019 starting from 25th May 2019. BROCHURE FOR GST PRACTITIONER ADVANCED CERTIFIED TRAIN...
Read MoreCA, CS, CMA - This publication presents a checklist of disclosures requirements under Ind AS applicable to entities preparing its financial statements voluntarily and mandatorily beginning on or after April 1, 2016, in accordance with Ind AS. The disclosures checklist is based on the Indian Accounting Standards (Ind AS) that are effective as on April 0...
Read MoreM/s. Dalmia Power Limited Vs ACIT (Madras High Court) - M/s. Dalmia Power Limited Vs ACIT (Madras High Court) a) The scheme of arrangement and amalgamation approved by the National Company Law Tribunal under Section 391 of the Companies Act gives statutory force to enable the respective petitioners to file the revised returns of income beyond the prescri...
Read MoreCIT Vs Union Bank of India (Bombay High Court) - CIT Vs Union Bank of India (Bombay High Court) To align the Income Tax Act with the Companies Act, 1956 it was decided to amend Section 115JB to provide that the companies which are not required under Section 211 of the Companies Act, to prepare profit and loss account in accordance with Schedule ...
Read MoreHeritage Hospitality Ltd. Vs DCIt (ITAT Hyderabad) - AO’s opinion that since TDS made u/s. 194-I, incomes are to be assessed under head ‘income from house property’ can not be accepted. Moreover, even if assessee has let out property but, when the Memorandum of Association permits the business of letting out of properties as such, the income can...
Read MoreAlchemist Asset Reconstruction Co. Ltd. Vs. Moser Baer India Limited (NCLT Delhi, Principal Bench) - Alchemist Asset Reconstruction Co. Ltd. Vs. Moser Baer India Limited (NCLT Delhi, Principal Bench) Under Section 36(4) (a) (III), the expression ‘liquidation estate’ has been defined and it is clarified that all sums due to any workman or employee from the provident fund, pension fund an...
Read MoreK. Chandrasekaran Vs TRO (Madras High Court) - K. Chandrasekaran Vs TRO (Madras High Court) The present impugned order is put to challenge mainly on three grounds. The first ground raised is that the petitioner was not put on notice before passing the impugned order. When such contention is specifically raised by the petitioner, it is the duty o...
Read MoreCircular No. 10/2019 - (22/05/2019) - Condonation of delay in filing of Form no. 10B (audit report by trust/institution) for Assessment Years 2016-17 and 2017-18 by CBDT vide Circular No. 10/2019 dated 22nd May, 2019 subject to fulfillment of conditions prescribed by CBDT. Circular No. 10/2019 F.No.197/55/2018-ITA-1 Government of India ...
Read MoreCircular No. 212/2/2019-Service Tax - (21/05/2019) - The service that is provided by toll operators is that of access to a road or bridge. toll charges being merely a consideration for that service. On MoRTH/ NHAI's instructions, for the period 8-11-2016 to 1-12-2016 this service of access to a road/bridge was continued to be provided without collecti...
Read MoreTrade Notice No. 17/2019-20 - (22/05/2019) - (i) An entity requires only one RCMC from its relevant EPC as per Appendix-2T. It can keep on adding any number of businesses afterwards and RCMCs from other EPCs will be optional only. (ii) If an entity, having RCMC for goods from a particular EPC/FIEO, exports services subsequently, there is no...
Read MoreTrade Circular No. 37T of 2019 - (17/05/2019) - List of metropolitan cities provided in the said clause includes Mumbai (whole of MMR i.e. Mumbai Metropolitan Region) with its respective geographical limits prescribed by an order issued by the Central or State Government in this regard....
Read MoreSEBI/HO/CFD/DIL2/CIR/P/2019/67 - (22/05/2019) - Accredited Investors (AIs) for the limited purpose of Innovators Growth Platform, are investors whose holding in the Issuer Company, is eligible for the computation of at least 25% of the pre-issue capital in accordance with Regulation 283.(1) of the SEBI (Issue of Capital & Disclosure Requirements)...
Read MoreAs per section 208, every person whose estimated tax liability for the year is Rs. 10,000 or more, shall pay his tax in advance, in the form of advance tax. In this part you c...
Read MoreAs the financial year 2019-20 begins, I hope every salaried employee must be worried on tax savings, where, how much to invest etc., It’s a time to plan your tax savings...
Read MoreOne of the best ways to save tax is to know the right thing to do & proceed accordingly. There could be a number of ways to save tax as a freelancer. Here are the most imp...
Read MoreArticle discusses about Deduction in respect of Life Insurance Premium, PPF, NSC, etc. [Section 80C]/ medical insurance premium [Section 80D]/ expenditure on training/ medical...
Read MoreArticle discusses about Meaning/ Structure/ Relevance of TAN, Persons liable to apply for TAN, Consequences of not quoting TAN, Procedure to obtain TAN, Places from where to o...
Read MoreAs we are in the mid of March which is last month of the financial year, many of us are concerned as to where and how much to invest to save tax. As one can claim a set limit ...
Read MoreEvery registered dealers has to compare input tax credit claimed in GSTR 3B with their GSTR 2A report. I am attaching an excel format which will make the comparison mush mor...
Read MoreDownload Latest Form-16 (New Format) Generator with Auto tax Calculator and Salary Statement The CBDT has notified a new format for form-16 vide Income Tax notification No. ...
Read MoreLoan Amortisation Table, EMI Calculator, Find Rate of Interest etc. in Excel The EMI (Equated Monthly Installment) of any loan is ascertained by the major factors viz. Loan Am...
Read MoreArticle discusses Income Tax Penalties for Failure to deduct TDS / TCS in full and part, Quoting false TAN in challan/ statements, Failure to apply for TAN, Failure to furnis...
Read MoreThe term ‘TDS’ refers to ‘Tax Deduction at source’. It is a mechanism wherein a person responsible to pay a sum of specified nature shall deduct an amount towards TDS ...
Read MoreDifferent tax rates have been provided for various categories of taxpayers and for different sources of income. Individuals/HUFs/AOP/BOI are taxed as per the different slab ra...
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