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Archive: 18 April 2015

Posts in 18 April 2015

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6471 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Rule 12 of Income Tax Rules wef 1st April 2015

April 18, 2015 33291 Views 9 comments Print

CA Sandeep Kanoi We have compiled here the Rule 12 based on the RECENT amendments vide Notification No. 41/2015, Dated-15th day of April, 2015  for ready reference of our readers.  [Return of income and return of fringe benefits. 12. (1) The return of income required to be furnished under sub-section (1) or sub-section (3) or […]

Review and simplify new Income Tax Return (ITR) forms: FM

April 18, 2015 6520 Views 0 comment Print

Government today announced that new Income Tax Return (ITR) Forms for A.Y. 2015-16 released vide Notification No. 41/2015 Dated 15.04.2015 that require disclosure of details regarding bank accounts and foreign trips undertaken by an individual will be reconsidered, a move that comes after criticism from tax experts and others.

Statutory Audit Provisions of Limited Liability Partnership

April 18, 2015 139177 Views 5 comments Print

What is LLP- LLP is a way between Company and Partnership. It takes into account the benefits of both i.e. less legal and regulatory formalities as compared to Company and a Corporate Entity form which is not in the case of Partnership. Exemption from Audit- Rule 24(8) exempt the LLP from the Audit of its accounts if its turnover does not exceed, in any financial year, Rs.40 lakhs or its contribution does not exceed Rs. 25 Lakhs.

Formation of One Person Company under Companies Act, 2013

April 18, 2015 1385 Views 0 comment Print

In case of One Person Company’s Memorandum and Article of Association should indicate the name of the person incorporating the company as well as the name of another person also who will become the member of the company in the event of subscriber’s death or incapacity i.s nominee of the company.

Double Taxation Issue of Non Residents & relief under DTAA

April 18, 2015 4314 Views 0 comment Print

How to claim benefit of relief under double taxation avoidance agreement by Non-Resident OR How to avoid tax of same income in two Country i.e. Country of Resident of Person and Country of Source of Income– In the era of greater connectivity across globe there is significant movement of manpower from one country to another and this lead to the arisen of tax issues of income earned in more than one country in single financial year.

Analysis of SEBI (Prohibition of Insider Trading) Regulations, 2015

April 18, 2015 19258 Views 4 comments Print

SEBI has notified and issued SEBI (Prohibition of Insider Trading) Regulations, 2015 on January 15, 2015. These regulations are notified to replace the earlier framework of SEBI (Prohibition of Insider Trading) Regulations, 1992 which are in place for the past two-decades.

One Person Company-Entrepreneur’s Support

April 18, 2015 751 Views 0 comment Print

Kushagra Nigam Background One Person Company has opened up new vistas for the young Business entrepreneur’s and Micro businesses. It has been mooted in India by the Companies Act, 2013 after being introduced in many countries years before. It has much less complexities as compared to the Private Ltd. Company or a Public Ltd company. […]

Planning for Studies during exam Leave for CA, CS and CMA students

April 18, 2015 5530 Views 12 comments Print

This article is to help students who have enrolled for professional course like C.A, C.S and C.M.A. Many students face difficulties while planning for professional exams and I am sharing my experience which I have gained over past few years. Also, I have highlighted the common errors that student commit while planning. General Preparation Time: […]

TDS on payments made to transporters wef 01.06.2015

April 18, 2015 176157 Views 59 comments Print

Under the existing provisions of section 194C of the Act, payment to contractors is subject to Tax Deduction at Source (TDS) at the rate of 1% in case the payee is an individual or Hindu Undivided Family and at the rate of 2% in case of other payees, if such payment exceeds Rs. 30,000 per contract or aggregate of such payments of contracts in a financial year exceeds Rs. 75,000.

ITR and Disclosure of Foreign Assets & Income from any source outside India’

April 18, 2015 108320 Views 10 comments Print

As per Notification No. 41/2015 Dated 15.04.2015 and ITR attached with the same alongwith the Instructions a resident assessee has to disclose ‘Details of Foreign Assets and Income from any source outside India’ as follows :- A. Details of Foreign Bank Accounts held (including any beneficial interest) at any time during the previous year 1. […]

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