After Budget 2018 LTCG TAX has raised a lot of question in the minds of an equity investor, an Existing investor who has been able to invest in equities for a long time is still not aware of the actual calculations in LTCG TAX on their investments. Investor assuming that they will have to pay 10% tax on the actual capital gain on sale of stocks or equity mutual funds.
Article explains Meaning and Nature of Debentures and Preference shares . It further explains Status of Debenture / Preference share Holders, Obligation to Company of Debenture / Preference share Holders and further explains Share of Profits, Tax Benefit, Cheaper source of Finance, Effect on Authorized capital and Blockage of funds in increasing authorized capital. S.No Point of Difference Debentures […]
Income Tax Forms for e-filling and Due Dates for FY 2017-18 (AY 2018-19) There are the different category of taxpayer viz. Individual, HUF, Firm, LLP, Company, Trust and AOP/BOI. Due Date is different according to audit or non-audit case of such categories as defined in section 139(1) Last Date of Filing Income Tax Return for […]
Article covers- 1. Person liable for registration under GST 2. Persons not liable for GST registration 3. Compulsory GST registration in certain cases 4. Manner of registration under GST 6. GST Registration for casual taxable or non-resident taxable person 7. Amendment of GST Registration 8. Cancellation of GST registration 9. Revocation of cancellation of GST registration
CGST Rules138C/ 142 and insert Rule 58(1A)/ new Form GST ENR-2 Relating to Application for obtaining unique common enrollment number (Only for transporters registered in more than one State or Union Territory having the same PAN)
Shri Ghanshyam Vs ITO (ITAT Agra) In present case, the ld. Additional CIT granted the approval by observing merely that he was satisfied. Sections 147 and 148 of the IT Act, it is trite, are charter to the Revenue to reopen completed assessments. Section 151 of the Act provides a safe-guard that the sword of […]
Pendency of serious criminal proceeding, as noted above, against the applicant adversely impacts his reputation and makes him not a person fit and proper for registration as an IP. In exercise of the powers conferred on the Board under regulation 8(3)(b) of the Regulations, I, therefore, reject the application for registration as an Insolvency Professional.
Charitable Trust is meant for public service and not for profit. Hence the Honorable Government has given exemptions in the form section 11 and 12. It will bring lot of tax benefits to the trusts and it can utilize the funds for its objectives. From the assessment year 2018-19 onwards, filing of return is to be done within the due date to claim the benefit section 11 and 12.
With reference to Announcement dated June 12, 2018; the Council has decided to assesses students after completion of 1st and 2nd year of articleship with online MCQ based tests. Exam Details: 1st year of articleship: Test of 75 marks (Duration: 2 hours) Mandatory Subject: Accounting and Auditing (incl. Corporate Laws) of 50 marks and Selecting […]
Narmada Drinks Pvt. Ltd Vs C.C.E. & S.T. (CESTAT Delhi) It is well known that the bottlers receive concentrate from the brand owners such as M/s Coca Cola, manufacture aerated products there from and sell the same. Para 6.2 of the relevant show cause notice alleges that the amounts have been received from the brand […]
