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Archive: 27 August 2015

Posts in 27 August 2015

Procrastination: Causes, Effects & Solutions

August 27, 2015 2114 Views 0 comment Print

‘ What is due now, can be done tomorrow ‘ is a familiar mindset that links each one of us. Yes, it provides temporary relief to us. However, to secure a happy life, we should remove that instinct. Procrastination is like a disease spoiling a person’s life. We all suffer from it in varying degrees throughout the life. Many people do not understand its repercussions on themselves.

Section 48 applies only when expenses are ‘wholly and exclusively” for property

August 27, 2015 6745 Views 0 comment Print

Hon’ble High Court while interprating section 48 held that while calculating Capital gain the expenses made will only be considered if it is made wholly or exclusive for that property. Also, the Hon’ble High Court held that The Hon’ble Tribunal was right in taking into consideration of the Judgement of Jurisdictional High Court.

No interest u/s 234B during Block Assessment

August 27, 2015 1010 Views 0 comment Print

In the Case of ACIT v Akhil Jain, ITAT Delhi held that no interest will be levied u/s 234B during the Block Assessment by the virtue of Section 158BF.

No Penalty could be levied u/s 271(1)(c) if only advance is received and no actual sale is made

August 27, 2015 1796 Views 0 comment Print

Hon’ble Tribunal held that whenever the consideration is received in advance for the particular sale, The money will be taxed in the year in which the sale is made and not in the assessment year in which the advances are received.

Empanelement with SBBJ for Forensic Audit

August 27, 2015 2116 Views 0 comment Print

STATE BANK OF BIKANER & JAIPUR HEAD OFFICE, TILAK MARG JAIPUR Empanelment Of Chartered Accountants / Cost Accountants For Forensic Audit State Bank of Bikaner and Jaipur, Head Office, Jaipur invites application from eligible individuals! corporates! firms who display exceptional professional competence in forensic audit and are Members of Institute of Chartered Accountants of India […]

Surveyor Storm in Indian Car Insurance Industry

August 27, 2015 1113 Views 1 comment Print

According to Carinsurance.in and other top sites covering Insurance market in India, there are over 2 crore claims coming every year in the Motor Insurance Industry. As per insurance norms, there needs to be a survey inspection for all claims above Rs. 20,000/- . The survey is done by Surveyors, who are paid by the insurers for conducting […]

TARC- creation of Directorate General of Tax Payers Services in CBEC

August 27, 2015 2415 Views 0 comment Print

F. No. A 11013/20/2015.Ad.IV In order to create a dedicated institution for the taxpayer services, with the approval of the Competent Authority the following changes are notified with immediate effect and until further orders:

Income Tax provisions – Individual Salaried for A.Y 2015-16

August 27, 2015 36627 Views 24 comments Print

The article covers Introduction, Residential Status, Tax Rates, Head-wise Taxation & Deduction available under the Act. Hope you will find it useful in this Return Filing Season.

9 Reasons for rejection of ST-3 returns

August 27, 2015 4165 Views 0 comment Print

Now days we see that Service Tax Returns are being rejected for one or the other reasons. This article may help you some extent to file return without any problem of being rejected. REASON? Returns are being rejected due to some technical errors validated by the system. The following are some technical errors the reasons […]

All about Nidhi Companies in India

August 27, 2015 12615 Views 3 comments Print

Nidhi Companies in India were created for cultivating the habit of small savings targeted at the lower and middle class. Its investment structure consists of realigning funds within a growing group of members who benefit from returns at fixed durations.

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