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Ca. Uttam Modi

Latest Posts by Ca. Uttam Modi

Difference Between Trust, Society and Section 8 Company

October 27, 2023 8025 Views 1 comment Print

Confused about whether to establish a Trust, Society, or Section 8 Company? This comprehensive comparison simplifies the decision-making process for you.

Demystifying Form 15CA and 15CB: A Guide to Foreign Remittances

September 12, 2023 6336 Views 1 comment Print

Learn about Form 15CA and 15CB: Crucial for foreign remittances and tax compliance. A complete guide for taxpayers.

Role of Chartered Accountant (CA) in Banking Industry

July 23, 2022 29085 Views 1 comment Print

Explore the diverse roles of Chartered Accountants in the banking industry. From credit management to risk assessment, a CAs analytical skills find applications in various sectors. Learn about opportunities in private and public banks, wealth management, and more.

Need of Farmer Producer Organisation (FPO)

December 24, 2021 4308 Views 0 comment Print

The main aim of Producer organization is to ensure better income for the producers through an organization of their own. Small producers do not have the volume individually (both inputs and produce) to get the benefit of economies of scale. Besides, in agricultural marketing, there is a long chain of intermediaries who very often work […]

F&O Trading Allowed For CA in Practice or Not

December 8, 2020 19461 Views 3 comments Print

Whether CA in Practice is allow to do trading under F&O segment ? As per Clause 11 of Part 1 of the First Schedule of The Chartered Accountant Act, 1949  A Chartered Accountant in Practice shall be deemed to be guilty of professional misconduct if he engaged in any business or occupation other than profession […]

Understanding of Turnover & Tax Audit for Market Traders

December 4, 2020 95307 Views 9 comments Print

EASY UNDERSTANDING OF TURNOVER & TAX AUDIT FOR TRADERS 1. When Tax Audit is Required? Answer: Threshold Limit 5 Crores: If a person’s Gross receipt and payment in cash does not exceed 5% of total receipts and total payment then the limit of turnover for mandatory tax audit is Rs. 5 Crores. Section 44 AD […]

Faceless E-Assessment Scheme | All About

September 4, 2020 20673 Views 0 comment Print

Procedure in faceless assessment- The procedure for e-assessment is as below: NEC will issue notice under section 143(2) online by uploading the digitally signed copy on the registered income tax account or by sending notice to the assessee’s registered email address or uploading the copy on a mobile app. A real time alert will be sent through SMS or the mobile app.

About MSME schemes and its role in Indian economy

July 28, 2020 1239 Views 1 comment Print

Introduction The Micro, Small and Medium Enterprises (MSME) sector has become a highly vibrant and dynamic sector of the Indian economy in the last five decades. MSMEs not only play an important role in providing large employment opportunities at lower capital costs than large industries, but also help in the industrialization of rural and backward […]

Receipt or Payment In Cash (Cash Transactions) under Income Tax Act

May 21, 2020 116658 Views 3 comments Print

As we all know about the section 269ST, which was introduced by the Central Government in the Income Tax Act, 1961 by the Finance Act, 2017, to curb tax evasion, regulation and circulation of black money. 1. Basic Understanding of Section 269ST As per section 269ST, any person who enters into a transaction of Rs […]

Problems to be Faced by Industries after Lock Down

May 12, 2020 2370 Views 0 comment Print

After the lockdown, industries are going to face various issues related to production, finance, laborers, cost, sale etc. Few are common problems which are described in this article. 1. Migrated Labor Issue: We all know that millions of laborers work in various industries, far away from their home towns in states all across the country. […]

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