I have made an attempt to make GST Reconciliation simple and Easy to find mistakes. User of the Sheet have to fill the data as per Master data sheet requirement. On Left side of master data sheet user have to fill portal data and on right side of the master data sheet user have to […]
Independent Directors – Online Proficiency Self-Assessment Test Introduction Independent Directors play an important role of a watchdog. They ensure that the cases of corporate misgovernance do not occur. Independent Directors or Non-Executive Directors join the board of directors in different capacities. They come from different backgrounds and have diverse skill sets. There is also an […]
1. If the Sales from your Business/Profession is more than Rs. 25 Lakhs or Income from Business/Profession is more than Rs. 2.5 Lakhs in any of 3 preceding years, then Books of Accounts will be compulsory maintained 2. Following Professions are also mandatorily required to maintain Books of Accounts if their Income more than Rs. […]
Overview-Section 61 Scrutiny of Returns Scrutiny of Returns √ As per section-61 , proper officer may scrutinize the return and related particulars furnished by the registered person to verify the correctness of the return and √ Inform him of the discrepancies noticed, if any, in such manner as may be prescribed and √ Seek his explanation […]
Overview: Finance Act, 2017 inserted the section 241A to enable the AO to withhold the refund arise after processing of the Income Tax Return. The provision has been analyzed as under. Provision of Income Tax Act Withholding of refund in certain cases. 241A. For every assessment year commencing on or after the 1st day of April, […]
Happy International Women’s Day – 7 Steps Which Can Assist To Be More Financially Freedom Happy Women’s Day to all wonderful women who are supporting their families by taking care of one part of the life, simultaneously to those women as well who are participating in both aspects of the life and with the support […]
INTRODUCTION ♣ ESOPs in India and globally have been used by businesses to encourage employees to buy shares and own a part of the company while aligning their performance and hard work to the same. ♣ ESOP has gained enough popularity after young start-ups struggle to attract suitable human capital. ♣ Start-ups start losing the […]
♦ Introduction: We are witnessing massive amount of foreign funds coming into India especially through investments into Start-ups. The government is also encouraging foreign investment through different incentives like liberalising FDI limit in various sectors. However, due to lack of awareness, often start-ups fail to comply with FEMA and RBI regulations with respect to Foreign […]
Westinghouse Saxby Farmer Ltd. Vs Commr. of Central Excise Calcutta (Supreme Court of India) In the case on hand, the claim of the assessee was that the relays manufactured by them were part of the railway signaling equipment. But all the Authorities were of the unanimous view that this product is referable to goods of […]
Where the assessee diverted borrowed funds towards investment in a company but did not collect any interest on money so invested then the AO was justified in making the disallowance of interest on borrowed capital particularly in view of the fact that the assessee failed to prove that there was any commercial expediency in making the investment that company.
