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Archive: December, 2019

Posts in December, 2019

Revised Valuation Guidelines for valuation of securities under NPS Schemes

December 21, 2019 1584 Views 0 comment Print

PFRDA issued valuation guidelines in April, 2012 for valuation of securities for NPS Schemes under PFRDA (Preparation of Financial Statements and Auditors Report of Schemes under National Pension System) Guidelines-2012.

Presumptive taxation for small businesses & professions

December 21, 2019 13197 Views 9 comments Print

To reduce the burden of various compliances, Govt. has introduced a scheme of Presumptive Taxation under section 44AD, 44ADA and 44AE of the Income Tax Act 1961.

All about Tax on Salary Income

December 21, 2019 86484 Views 11 comments Print

I have started writing this article keeping in mind the questions raised in minds of salaried class taxpayers. Also, it is aimed to address the doubts of all those who file the Return of their salaried class clients.

15 Important tasks of Income tax to be done before March end!

December 21, 2019 43566 Views 7 comments Print

Following are the 15 important tasks of income tax which should be done before march end: 1. Last chance to file returns for the financial year 2015-16 and 2016-17 – If the taxpayer has not yet filed the income tax return for the financial year 2015-16 and 2016-17, then it is last chance to file the returns upto 31st march. After that the said returns can not be filed.

Kisan Vikas Patra- Is it a tool to convert Black Money into White?

December 21, 2019 21982 Views 15 comments Print

Krishna, recently the Government has reintroduced the investment scheme of Kisan Vikas Patra. There are many questions regarding this scheme but answer to the most important question is unascertainable. The earlier scheme of Kisan Vikas Patra was closed due to increasing black money from the scheme then why it is reintroduced?

E-Assessment Procedures – Income Tax

December 21, 2019 32703 Views 2 comments Print

Electronic assessment, also known as e-assessment, online assessment, computer assisted/mediated assessment and computer-based assessment, is the use of information technology in various forms of assessment. Finance Minister, Arun Jaitley, also announced of such scheme in his budget speech on February 1, 2018; which would almost eliminate person-to-person contact in the Tax Department for greater transparency in assessment procedures.

7 Common Reasons Why You Get Income Tax Notices

December 21, 2019 46899 Views 7 comments Print

Discover the 7 common reasons why you receive income tax notices, from TDS mismatches to high-value transactions.

No addition if margin between value  given by assessee & Departmental Valuer was less than 10%

December 21, 2019 3153 Views 0 comment Print

As margin between the value as given by the assessee and the Departmental Valuer was less than 10 percent and the difference is liable to be ignored and the addition made by the lower authorities on this count cannot be sustained

Independent Director’s Data Bank

December 21, 2019 3771 Views 0 comment Print

As per MCA Notification dated 22nd October 2019,—In exercise of the powers conferred by sub-section (1) of section 150 of the Companies Act, 2013 (18 of 2013), the Central Government hereby notifies the Indian Institute of Corporate Affairs at Manesar (Haryana), as an institute to create and maintain a data bank containing names, addresses and […]

Maintenance of Statutory Registers – Companies Act 2013

December 21, 2019 7398 Views 0 comment Print

Registers to be maintained under the Companies Act, 2013 includes Register of the company, Register of Members, Register of directors and key managerial personnel, Register of charges, Register of Renewed and Duplicate Share Certificates, Register of Employee Stock Options and Register of Shares/Other Securities Bought Back. 1. Register of the company Every company accepting deposits […]

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