GST is termed as a destination based consumption tax and covers all the current forms of indirect tax laws such as VAT, Service tax, Excise Duty which will be subsumed under a single term GST.
The Institute of Chartered Accountants of India has recently notified steep hike in CA Annual Membership Fees & COP Fees. Both Fees, together work out to Rs.7000 p.a. ( For Senior Members above age 60, Rs.6300). The question is : Is this Fee Revision warranted ? Does the Institute’s Financial Position justify this ? What […]
Formal Transfer pricing regulation has been present in India for more than twelve years. Section 92 of income tax act, 1961 warrants that international transactions between the associated enterprises shall be computed having regard to the Arm’s Length Price (ALP).
Expressing concern over a lukewarm response on allowing small and medium scale shop-keepers to remain open for all seven days, the ASSOCHAM has impressed upon the Centre to ask the states to realise benefits of model Shops and Establishments Bill and adopt the same , for promoting retail trade which is the largest sector employer in the country.
Whole issue in the present appeal by Revenue, is about the source, nature and genuineness of the transaction to determine whether the addition made by the AO under section 68 of the Act is sustainable.
Article Discusses Related Party Transactions under Companies Act, 2013 and SEBI LODR Regulations, 2015. It Explains who is Related Party, What is a related party transaction, Related Party Transaction requiring Audit Committee Approval, Related Party Transaction requiring Board/Shareholders’ Approval and Related Party Transactions which are not in Ordinary Course of Business and Arm’s Length Basis.
MSMEs, you are the power house of the India’s economy. Feel proud of it. The government recognizes your importance and hence, promotes you, provides you enormous benefits. Udyog Aadhaar is a valuable present that the government has provided for small and medium businesses.
A name change can have an impact on taxes. All the names on a taxpayer’s tax return must match Social Security Administration records. A name mismatch can delay a tax refund. Here’s what taxpayers should know if they changed their name:
The Internal Revenue Service today reminded non-U.S. citizens who may have taxable income, such as international students and scholars who may be working or receiving scholarship funds, that they may have special requirements to file a U.S. tax return.
The Central Government had, vide Notification No.S.O.892(E) dated 31.3.2015, in exercise of the powers conferred by section 145(2), notified ten income computation and disclosure standards (ICDSs) to be followed by all assessees, following the mercantile system of accounting, for the purposes of computation of income chargeable to income-tax under the head “Profit and gains of […]
