Company Law : Annual Compliances for Private Company based on Paid-Up Share Capital under Companies Act, 2013. Article Annual Compliances for Pr...
Company Law : Annual Compliances for Private Company on the basis of Turnover under Companies Act ,2013. Article explains Annual Compliances for...
Income Tax : Query I AM engaged in the buying and selling of shares. I take delivery of the shares purchased and also deliver the shares at th...
Income Tax : Due date for Filing Income Tax Return for Assessment Year 2016-17 for Salaried Persons and other Assessees who are engaged in bus...
Income Tax : Calculate your House Rent Allowance (HRA) exemption know HRA exemption Calculation Formula and download HRA Calculator in excel fo...
SEBI : SEBI's income from fees and other charges dropped by 46 per cent to Rs 213 crore in the fiscal 2008-09 as against Rs 397 crore rec...
Income Tax : The main attraction of the Direct Taxes Code 2009 will be the simplicity of the provisions, Mr P.V. Bhide, Secretary-Department of...
Income Tax : Mumbai: Officials from the income-tax (I-T ) department on Wednesday and Thursday carried out searches at various offices of Bomba...
Finance : The UPA is back at a time faced with economic slowdown and hence, an immediate agenda of economic revival. The Small & Medium ...
Finance : The decision to make half-yearly internal audits obligatory for stock broking houses spells doom for smaller firms that are alread...
Income Tax : So far as the scrap is concerned, the sale proceeds from the scrap may either be shown separately in the Profit and Loss Account o...
Income Tax : . In view of the above decision, the company whose principal business is that of granting of loans and advances, may earn a compar...
Income Tax : I have duly considered the rival contentions and the material en record. The perception of the CIT that the profit is low prompted...
Income Tax : The assessee sold valve actuators. At the time of sale, the assessee provided standard warranty that if the product was defective ...
Income Tax : The assessee sold valve actuators. At the time of sale, the assessee provided standard warranty that if the product was defective ...
Goods and Services Tax : As expressly mentioned in Section 22, the primary object of business audit is to promote compliance with law. Business audit is a ...
Annual Compliances for Private Company based on Paid-Up Share Capital under Companies Act, 2013. Article Annual Compliances for Private Company when paid up capital is less than Rs. 2 Crore, when Paid-Up Share Capital is more than Rs.2 Crores, when Paid-Up Share Capital is Rs. 5 Crores or more, when Paid-Up Share Capital is Rs. […]
Annual Compliances for Private Company on the basis of Turnover under Companies Act ,2013. Article explains Annual Compliances for Private Company when turnover is more than Rs. 20 Crores, when turnover is more than Rs.100 Crores, when turnover is more than Rs.200 Crores and when turnover is more than Rs.1000 Crores. Annual Compliances for Private […]
Query I AM engaged in the buying and selling of shares. I take delivery of the shares purchased and also deliver the shares at the time of sale. In such a case, how is the turnover to be reckoned for the purpose of determining whether a tax audit under Section 44AB is to be done? Is it the aggregate amount of sale that has to be taken as the turnover?
Due date for Filing Income Tax Return for Assessment Year 2016-17 for Salaried Persons and other Assessees who are engaged in business and profession and whose turnover is less than Rs. 100 lakh (in the case of business) and Rs 25 lakh (in the case of profession) is 31st July 2016. In this article we have detailed in the form of Question answers Consequences of Delay in Filing Return of Income or of Filing Return after the due date.
Calculate your House Rent Allowance (HRA) exemption know HRA exemption Calculation Formula and download HRA Calculator in excel format for easy calculation of exempt HRA Allowance out of Total HRA received by Salaried Assessee.
What is Audit Report in Form 704? Ans : It is a report under section 61 of MVAT ACT, 2002 to be submitted by eligible dealer within 10 months of the end of a particular financial year.
So far as the scrap is concerned, the sale proceeds from the scrap may either be shown separately in the Profit and Loss Account or may be deducted from the amount spent by the manufacturing unit on the raw material, which is steel in the case of the respondent-assessee
. In view of the above decision, the company whose principal business is that of granting of loans and advances, may earn a comparatively high income from some other activity in a particular year, merely because the income/loss from share trading in the year under consideration is higher than the interest income,
SEBI’s income from fees and other charges dropped by 46 per cent to Rs 213 crore in the fiscal 2008-09 as against Rs 397 crore recorded during the previous fiscal, SEBI’s annual report released on Wednesday said.
For non filing or late filing of the Audit Report, penalty at the rate of 0.1% of the turnover of sales is also leviable. As explained from beginning, under VAT Act the assessments will be sparing, based on selection criteria. Therefore, to have authentic checking of the returns/tax liability of the dealer, the VAT Audit provision has been introduced. The VAT Audit report in Form 704 is accordingly notified in the MVAT Rules right from 01.04.2005. However, the said Form is now replaced by Notification dated 26.08.2009 under Rule 17A(2) of MVAT Rules,2005 applicable from 01.04.2008. The newly introduced Form will accordingly be applicable from financial year 2008-2009. Some of the important aspects of this Form can be noted as under:
