"26 April 2014" Archive

Exposure Draft of Accounting Standard for Local Bodies (ASLB) 3 on 'Accounting Policies, Changes in Accounting Estimates and Errors' for public comments.

Exposure Draft of the Accounting Standard for Local Bodies (ASLB) 3 on ‘Accounting Policies, Changes in Accounting Estimates and Errors’ for public comments. As you would kindly be aware that the Institute of Chartered Accountants of India (ICAI), in the year 2005, constituted the Committee on Accounting Standards for Local Bo...

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Posted Under: CA, CS, CMA |

Simple ways to avoid Defaults in TDS Statements

We can easily avoid Defaults in TDS statements, by way of adherence to the following basic principles: · Timely Payment of total taxes deducted/ collected · Correct Reporting with regard to PANs, Tax Rate and Challans · Complete Reporting for all Deductees · Timely filing of TDS Statements...

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Refund Of Service Tax (ST) Credit For ST Paid Under Reverse Charge

Rule 5B has been inserted in Cenvat Credit Rules, 2004 w.e.f. 01.07.2012 vide Notification No. 28/2012-CE(NT) dated 20.06.2012. Under Rule 5B, inserted w.e.f. 1.7.2012 vide Notification No. 28/2012-CE (NT) dated 20.6.2012, refund of Cenvat Credit will be allowed to service providers providing services on reverse charge basis. ...

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Posted Under: CA, CS, CMA |

Fast Track Quick Revision deduction from gross total income u/s 80C to 80U

Kaushal Agrawal Learn, understand and memorise following sections. 1. 80C : Savings 2. 80CCC  : Pension fund 3. 80CCD : Pension Fund 4. 80CCG : Rajiv Gandhi Equity Scheme 5. 80D : Health Insurance premium 6. 80DD : Disabled dependent 7. 80DDB : Specified disease 8. 80E : Interest on higher education 9. 80EE : […]...

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Posted Under: CA, CS, CMA |