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Archive: 05 August 2018

Posts in 05 August 2018

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

May 15, 2024 6501 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.

Valuation of perquisite in respect of Medical Facilities

August 5, 2018 33306 Views 3 comments Print

1. Fixed medical allowance is always chargeable to tax. 2. The perquisite in respect of medical facility provided by an employer in the following hospitals/clinic is not chargeable to tax – a) Hospital owned/maintained by the employer. b) Hospital of Central Government/ State Government/ local authority.

TAX Implications of Investing in Property

August 5, 2018 21538 Views 2 comments Print

The latest buzz these days is investing in the Property Market/ Real Estate. Bhai Paisa hai to Property me laga, is very common to hear even from someone who knows nothing about the churn of events in the market nor about investments. But still every Tom, Dick & Harry will come and advise you about investment in real estate.

What’s better- Trust, Society or section 8 Company?

August 5, 2018 108039 Views 6 comments Print

One can set up either a public charitable trust, a registered society, or a Section 8 Company (a trust corporation). Each has its own advantages and constraints. If a person wishes to set apart either property or money for a charitable purpose so that the income may be devoted in perpetuity for the fulfilment of the charitable activity, and wants to limit control over the disposal of that income to persons whom he knows and trusts, then it is best to set up a public charitable trust. A public charitable trust can be set up under the Bombay Public Charitable Trusts Act 1950 in Maharashtra or Gujarat. Elsewhere in the country it can be set up under the general law, i.e., by registration of the trust deed with the registrar. But a private trust whose beneficiaries generally are relatives or friends and not society at large does not enjoy tax benefits.

TDS – Payment Due Date & Mode

August 5, 2018 157741 Views 3 comments Print

Rule 30 of Income Tax Rules, 1962, as amended by S.O. 1261(E), Notification dated 31.05.2010, prescribes mode of payment of tax deducted to the account of Central Government as detailed below:(a) The Tax deducted at source in accordance with the provisions of Chapter XVII-B of the Income tax Act, 1961 by an office of the Government shall be paid to the credit of the Central Government -(i)  on the same day where the tax is paid without production of an income tax challan; and

Form 26AS – Rectification of Errors & Omissions

August 5, 2018 35763 Views 16 comments Print

Taxpayers are advised to verify the tax credits available in 26AS statement before filing the Income Tax Return. It will facilitate faster processing and quick refunds. In order to avoid the TDS mismatch i.e if your claim of TDS is higher than the tax credits available in 26AS statement, please contact the Deductor for filing of the correction TDS statement.

GST, Excise, Service Tax, Customs & VAT updates for July 2018

August 5, 2018 23148 Views 0 comment Print

Article contains update for the Month of July 2018 related to GST, Excise, Service Tax, Customs & VAT which includes Summary of Notifications, Circulars, Advance Rulings, Important Case Laws and announcements made by Government. Amendments in the rate of GST on specified services: Amended GST Rates on certain services Particulars Earlier Rate Amended Rate Multi […]

The Era of CA Indemnity Insurance

August 5, 2018 17115 Views 1 comment Print

The accounting professionals have been able to organise their work and get social and statutory appreciation for their competence, objectivity and integrity. They provide high-calibre services to our society, in general, and to business community, in particular. Accounting professionals who act in a professional capacity are bound to exercise the care and skills required by […]

Director KYC under Companies Act, 2013 with FAQs

August 5, 2018 35781 Views 12 comments Print

Who have to File DIR-3 KYC? Every Director who has been allotted DIN as on or before 31st march of a financial year submits e-form DIR-3KYC with central government.

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