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Future And Options Income

What is future and options? A Future is a right and an obligation to buy or sell an underlying stock(Shares) at a predetermined price and deliverable at a predetermined time(on expiry). An option is a right (not an obligation) to buy or sell (shares) at a predetermined price. An option is just like the insurance […]...

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Posted Under: Income Tax |

How to determine costing in a manufacturing industry

Determining an appropriate costing of your product can make or break your business. Most business owners fail to understand the importance of costing which can actually help your business avoid running into troubles such as loss of profits, time mismanagement and over budgeting....

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Posted Under: CA, CS, CMA |

Top 5 Books which every Professional must read

HEY Professional, I know you must be doing hard to serve best for your Business or Company, but wait! what about YOUR personal Growth? Have you ever wondered that while you are struggling so much for adding value to your Company or to your Business, what are you doing to add value to your life […]...

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Posted Under: CA, CS, CMA |

F.Y. 2020-2021 – ROC e-forms – Due Dates

The article contains a summary of all the ROC related compliances, i.e., e-forms that are to be filed with the Ministry of Corporate Affairs during the Financial Year 2021-2022 with respect to the Financial Year 2020-2021, in case of a Private Limited Company. Hope this finds your interest and resolve your query at a glance. […]...

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Posted Under: Corporate Law |

Bank Audit 2021- Decoding Funded Interest Term Loan (FITL)

Funded Interest Term Loan (FITL) is a talk of the Bank Audit season of 2021. The treatment of this advance is not only new but confusing also. There are no clear instructions to deal such accounts which are outstanding as at 31st March 2021. There are also issues related to serving of Interest till 31st […]...

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Posted Under: CA, CS, CMA |

Bank Audits 2021- Decoding Housing Loans

The housing loan is the “Priority Sector Lending”. The Reserve Bank of India, through its Master Direction on the subject of housing loan have advised the bankers adhere to the National Building Code (NBC) formulated by the Bureau of Indian Standards (BIS) in view of the importance of safety of buildings especially against natural dis...

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Posted Under: CA, CS, CMA |

Section 12AB Registration Procedure for First Time Registration of Trusts

Registration Procedure For Trusts/Institutions Seeking Registration U/S 12Ab For The First Time Newly inserted provisions namely section 12AB and clause (ac) in subsection 1 of section 12A in The Income-tax Act, 1961 (Act) have changed the procedure for trusts/ institutions to get themselves registered under the Act. For trusts/institutio...

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Posted Under: Income Tax |

Income Tax Rules: Compliance related to Tax Deduction at Source

While conceptual law is stipulated under Income Tax Act, 1961 it’s procedural law is enumerated under Income Tax Rules 1962. At times demand has been made for single comprehensive law as ‘Income Tax Code’ but time and again same could not find statutory garb due to one or the other reason. Codification of all law, […]...

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Posted Under: Income Tax |

Direct & Indirect Tax Updates March 2021

DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ The Lok Sabha on 23rd March 2021 passed the Finance Bill, 2021 to give effect to the financial proposals of the Central Government for the financial year 2021-2022. (The Finance ACT, 2021 NO. 13 OF 2021 dated 28th March, 2021) ♦ CBDT revises Form No. 12...

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Posted Under: CA, CS, CMA |

Guide to Renewal of or Application for 12A & 80G Registrations

This article focuses on the major changes brought in by the Finance Act 2020 by introducing new section 10AB replacing section 10AA and bringing in similar amendments in section 10(23C) and Section 80G. These provisions pertaining to registration were originally made effective from 01-06-2020. Subsequently, due to the crisis caused by COV...

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Posted Under: Income Tax |