srikant83's Posts - Page 4

Green Shoe Option (GSO), Price stabilization through GSO

Public issue of shares (also knows as IPO) is a very common way of raising funds by a corporate entity. However many a times it has been seen that after public issue of shares the listed price of securities falls below issue price which creates panic in the market and discourages the investors to put […]...

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Posted Under: SEBI |

Pension Income and applicability of Standard deduction u/s 16(ia)

Pension Income and applicability of Standard deduction u/s 16(ia) There are various types of Pensions that a person can receive, some of these are as below: 1. Annuity (uncommuted Pension) received from current employer 2. Annuity (uncommuted Pension) received from former employer 3. Family pension (i.e pension received after death of emp...

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Posted Under: SEBI |

Income Tax Rates & Calculator for 23 years (FY 2006-07 to 2019-20)

We know that in Finance Bill 2019 tax rate for FY 2019-20 for individuals / HUF has not been changed except the fact that rebate u/s 87A has revised to Rs 12,500 if Total Income is upto Rs 5,00,000 (previously it was Rs 2500 if total Income is upto Rs 3,50,000). Tax rates for Individuals […]...

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Posted Under: SEBI |

TDS (Tax Deduction at Source) u/s 51 of CGST Act 2017 for Govt Enterprises

Section 51 CGST (Central Goods and Services Tax) Act 2017, provides that, A department or establishment of Central Govt or State Govt, or local authority or Govt Agencies or other specified persons are required to deduct TDS @ 2% (IGST 2%, or CGST 1% + SGST 1%) ...

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Posted Under: SEBI |

GST Audit applicability for Government Companies

We know that GST audit u/s 35(5) of CGST Act 2017 is applicable for all registered dealer with turnover of > Rs 2 Crore. However by way of Central Goods and Services Tax (Amendment) Bill, 2018, the same has been exempted for Govt companies....

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Posted Under: SEBI |

How to get relief in case of Double Taxation?

In this age of globalization  many organizations including individuals have got their wings spread all over the world. In any country the tax is levied based on 1) Source Rule and 2) the Residence Rule. The source rule holds that income is to be taxed in the country in which it originates irrespective of whether the income accrues to...

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Posted Under: SEBI | ,

Leave Encashment or Leave Salary Tax Section 10(10AA)

Many organisation provide the facility of Leave Encashment (by whatever name called be it earned leave, sick leave etc) either 1) during the period of employment or 2) at the time of retirement (including separation on account of resignation, retrenchment, VRS etc other than termination) of the employee or 3) at the time of Termination [&...

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Posted Under: SEBI | ,

Service Tax Interest Calculator with examples

Interest calculator for delay in payment of service tax is attached which can calculate interest in one shot for different period. Interest is levied on the assessee when he delays the payment of service tax which is due and payable. The rate of interest u/s 75 of Finance Act 1994 has undergone a lot of changes since 01.07.1994.The summar...

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Posted Under: SEBI | ,

Whether GST is applicable on interest charged by Del credere Agent

In Re M/s Shreenath Polyplast Pvt Ltd (AAR Gujarat)

It was decided that interest charged by Del credere Agent on amount of short term loans to end customers, is covered under Sl. No. 27 of the Notification No. 12/2017-Central Tax (Rate) dated 28.06.2017 and hence such interest amount will not attract GST....

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Income Tax Calculator for Financial Year 2018-19

Excel file containing Income Tax calculator for Financial Year 2018-19 / Assessment Year 2019-2020 after considering the amendments proposed by Union Budget / Finance Bill 2018. ...

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Posted Under: SEBI |

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