Self Assessment u/s 140A: This simply means that the person is calculating his own tax liability and thereafter filing ITR after payment of self calculated tax. Since assessee himself calculates the tax and income, it is called as self assessment.
We all go to work, make a living out of it. We are the working class. We work all day, earn what we have and repeat the same routine all over again. But, do we have to be crying and venting about it? I am not the boss. I don’t get to make the decisions.
Royalty means payment of any kind received as consideration for the use of or right to use any intangible property like patent, copyright, design or model, secret formula or process, trademark, trade name or for information concerning industrial, commercial or scientific experience.
I would like to throw light on preparation of very simple paper of CA Final i.e. Advanced Auditing and Professional Ethics. I have heard from many students that this is most complicated subject next to ISCA. Unfortunately , This is just a Myth. “Soch Badlo Exam ka result badlo. But frankly speaking, it isn’t. Just like every other subject, even audit can be handled. And it can be handled very well if you follow the right preparation strategy.
Government of India has started a RTI online web portal whereby Right to Information (RTI) applications can be filed online by Indian citizens, including those who are living abroad. The detailed procedure in filing of on-line RTI application is as under:
Punjab & Haryana High Court held In the case of The CIT Vs Bharat Bhushan held that no addition is sustainable where the purchases had been accounted for in the regular books of accounts maintained, duly audited and there is nothing to show that the quantity had been purchased and sold outside the books.
In the case of Commissioner of Income Tax vs. DLF Commercial Project Corporation Delhi High Court held that Advance received cannot be treated as income of the assessee and TDS is not deductible on reimbursement of Expenses since it is not an income.
If your income is more than Rs 5 lakh per annum then you must file your ITR electronically or online. Like all other things, internet has drastically changed the way you file your ITR. According to IT department, the number of people filing e-returns has seen a massive growth over the years, which testifies the […]
After so much contradictions on Nestle Maggi Noodles, now a laboratory of CFTRI (Central Food Technological Research Institute) has found Maggi noodles are safe to be consumed by the people in India. CFTRI had tested some samples sent by FDA (Food and Drug Administration), Goa when Maggi was banned in June.
The formats for the reports/disclosures to be filed under the Regulations have been prescribed by SEBI vide circular No SEBI/CFD/DCR/SAST/1/2011/09/23 dated September 23, 2011, SEBI/CFD/DCR/SAST/2/2011/10/20 dated October 20, 2011 and CIR/CFD/POLICYCELL/11/2013 dated October 21, 2013.
