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Goods and Service Tax – Concise Note for better understanding

Goods and Services Tax : Goods and Services Tax would be a very significant step in the field of indirect tax reforms in India. By amalgamating a large num...

October 26, 2016 4729 Views 0 comment Print

Draft Gold Monetization Scheme

Finance : Seeking to mobilise idle gold worth up to Rs 60 lakh crore held by households and institutions within country, government proposed...

May 20, 2015 1878 Views 0 comment Print

Section 147: Power of Review V/s Power to Re Assess

Income Tax : The provisions of section 147 empower the Assessing Officer, to reopen an assessment if he has reason to believe that income has e...

April 28, 2015 3284 Views 0 comment Print

Quick Revision of Schedule II of companies Act, 2013 – Changes in Depreciation

Company Law : With the introduction of the revamped Company Law, changes have been brought about in quite a few areas of interest. We’re focus...

April 23, 2015 37412 Views 0 comment Print

Wait is over!! CARO 2015 Notified, but should it be more comprehensive??

Company Law : MCA has notified the Companies (Auditor’s Report) Order, 2015 (CARO, 2015) on 10th April, 2015. There was a lot of debate amongs...

April 21, 2015 8058 Views 0 comment Print


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Draft Gold Monetization Scheme

Finance : Seeking to mobilise idle gold worth up to Rs 60 lakh crore held by households and institutions within country, government proposed...

May 20, 2015 1878 Views 0 comment Print


Latest Posts in CA Vijay Bansal

Goods and Service Tax – Concise Note for better understanding

October 26, 2016 4729 Views 0 comment Print

Goods and Services Tax would be a very significant step in the field of indirect tax reforms in India. By amalgamating a large number of Central and State taxes into a single tax, it would mitigate cascading or double taxation in a major way and pave the way for a common national market.

Draft Gold Monetization Scheme

May 20, 2015 1878 Views 0 comment Print

Seeking to mobilise idle gold worth up to Rs 60 lakh crore held by households and institutions within country, government proposed a new scheme offering tax-free interest on depositing the yellow metal (Gold) with banks. This scheme will allow the depositors of gold to earn interest in their metal accounts and the jewellers to obtain loans in their metal account. Banks/other dealers would also be able to monetise this gold.

Section 147: Power of Review V/s Power to Re Assess

April 28, 2015 3284 Views 0 comment Print

The provisions of section 147 empower the Assessing Officer, to reopen an assessment if he has reason to believe that income has escaped assessment. The important words under section 147 are ‘has reason to believe’ and these words are stronger than the words ‘is satisfied’.

Quick Revision of Schedule II of companies Act, 2013 – Changes in Depreciation

April 23, 2015 37412 Views 0 comment Print

With the introduction of the revamped Company Law, changes have been brought about in quite a few areas of interest. We’re focusing on the changes in depreciation in this article. Schedule XIV of the erstwhile Companies Act prescribed minimum SLM (straight line method) and WDV (written down value) rates for depreciation. The Companies could charge higher depreciation, if the useful life of an asset was shorter than that envisaged under Schedule XIV.

Wait is over!! CARO 2015 Notified, but should it be more comprehensive??

April 21, 2015 8058 Views 0 comment Print

MCA has notified the Companies (Auditor’s Report) Order, 2015 (CARO, 2015) on 10th April, 2015. There was a lot of debate amongst professionals as to whether CARO will be applicable for the audit of the financial year 2014- 15. MCA has finally ended the debates by notifying CARO.

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