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Shruti Agrawal

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Applicability Of IND AS In India

Finance : Shruti Agrawal 1. Voluntary Adoption: Companies may voluntary adopt Ind AS for financial statements for accounting period beginnin...

July 30, 2015 3465 Views 0 comment Print

Valuation Under Works Contract Service

Service Tax : Primary Condition for classifying the service under works contract is that the contract shall involve transfer of property in good...

July 8, 2015 159977 Views 10 comments Print

Gist Of Cenvat Credit On Construction Service

Service Tax : The Cenvat Credit Rules 2004 provides for availment of credit of excise duty paid on inputs and capital goods and service tax paid...

July 1, 2015 32237 Views 0 comment Print

All you want to know about ITR 2A

Income Tax : For the financial year 2014-15 i.e. assessment year 2015-16, income tax department has issued a new Form ITR 2A. The reason for th...

July 1, 2015 13269 Views 27 comments Print

Service Tax on Construction Service

Service Tax : Services provided by the Builders/ Developers is not taxable prior 01st July 2010. It is taxable from 1st July 2010 onwards as per...

June 29, 2015 135910 Views 17 comments Print


Latest Posts in Shruti Agrawal

Applicability Of IND AS In India

July 30, 2015 3465 Views 0 comment Print

Shruti Agrawal 1. Voluntary Adoption: Companies may voluntary adopt Ind AS for financial statements for accounting period beginning on or after 1st April 2015 with the comparatives for the periods ending 31st March 2015 or thereafter. If any company adopts the Ind AS then it will be required to follow i.e. there is no option […]

Valuation Under Works Contract Service

July 8, 2015 159977 Views 10 comments Print

Primary Condition for classifying the service under works contract is that the contract shall involve transfer of property in goods in executing such contract which should be leviable to tax as sale of goods. The contract is for the purpose of carrying out construction, erection, commissioning, installation, completion, fitting out, improvement, repair, renovation, alteration of any movable or immovable property.

Gist Of Cenvat Credit On Construction Service

July 1, 2015 32237 Views 0 comment Print

The Cenvat Credit Rules 2004 provides for availment of credit of excise duty paid on inputs and capital goods and service tax paid on input services. But a real estate developer/builder opts benefit of Notification No. 26/2012-ST dated 20.06.2012 then builder/developer can avail credit of excise duty paid on capital goods and service tax paid on input services i.e. can not avail credit of excise duty paid on inputs.

All you want to know about ITR 2A

July 1, 2015 13269 Views 27 comments Print

For the financial year 2014-15 i.e. assessment year 2015-16, income tax department has issued a new Form ITR 2A. The reason for this form is that ITR 1 is very basic form in which very limited details are required to be furnished and only a limited salaried taxpayer are allowed to furnish this form. Due to its limitation Taxpayers has to File ITR 2 which is very complicated. To remove this complexity department introduced a new form ITR2A i.e. in between ITR 1 and ITR 2.

Service Tax on Construction Service

June 29, 2015 135910 Views 17 comments Print

Services provided by the Builders/ Developers is not taxable prior 01st July 2010. It is taxable from 1st July 2010 onwards as per CBEC circular No. 108/02/2009-ST. Service tax is applicable on under construction property at the time of bookings/agreements made before the construction completes. Is the Flats/Apartments / Villas is given to land owners by a real estate company then service tax is also applicable on such unit.

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