This article will give an overview of ACU mechanism. How this works and what is difference between normal transaction and ACU transaction. Besides this article will explain you what transactions are permissible and what not under ACU mechanism and what is the procedure to handle ACU transaction.
The union budget will be presented on 1st February so I thought of making some suggestions to remove some anomalies and inequalities in the Income Tax Act provisions to make the NPS system fair and little better for everyone. Here are my suggestions. Uniformities of tax treatment of retirement corpus of Tier I of NPS […]
1. Corona pandemic played havoc with businesses. A one-time relief scheme in tax compliances specially in GST Compliance’s basically in form of late fee waiver will help business houses to come on track without any more hassles. 2. Relief packages to distress sectors like tourism, hospitality, airlines in form tax exemptions, cash incentive on basis […]
In this article issue of tax liability on supply of compressed natural gas (CNG) from retail outlet under GST regime has been discussed with special reference to Maharashtra state. Dealer is running CNG pump and being it is retail outlet, all sales are made to the customers who are unregistered dealers under Mvat act. It […]
In this article, I have tried covering various career paths available for CAs (some don’t necessarily require a CA degree but they are still an option for CAs as well).
Article explains Category of the person eligible for claiming deduction under section 35D, The extent of deduction allowable under section 35D, List of preliminary expenditure allowable as a deduction under section 35D and Some noteworthy points related to deduction under section 35D. Amortization of preliminary expenditure is allowed as deduction under section 35D of the […]
Pre-Budget Wish from the First Paperless Union Budget 2021-22: Hear the Other Side (Audi Alteram Partem) The Count-down to the ‘Union Budget 2021-22’ has begun with the conducting of the ceremonial ‘Halwa Ceremony’ on 23.1.2021. As a customary ritual, a mouth-watering sweet-dish ‘Halwa’ is prepared in humongous quantity in a huge ‘Kadhai’, and is distributed […]
We are living in a digital era, where it has become easy to access the internet. For those who want to invest through forex trading, it has become easy due to internet availability. With the benefits of improved technology, there are downsides to the investment industry. Many scams have been developed in the market, and […]
Constitution of India (hereinafter referred to as the Constitution) defines the expression ‘goods and services tax’ as any tax on supply of goods or services or both, except tax on supply of alcoholic liquor for human consumption. The Constitution provides that Legislature of each State can make goods and services tax (hereinafter referred to as […]
It is seen that often business entities provide working lunch or canteen services during office hours to employees / workers free of cost or at subsidized rates or against recovery of charges towards canteen services by way of receiving payment from employees or deduction of such amount from salary of employees. Whether such provision of […]
