For Individuals and Hindu Undivided family The code proposes to exempt the general tax payer from paying income tax if his income is Rs 1,60,000 in a year. He would pay just zero tax till an income of Rs 1,60,000 per year. From income above Rs 1,60,000 till Rs 10 lakh (Rs 1 million), he […]
Understand the annual tax statement (ATS) and how it provides details about tax deducted at source (TDS) or tax collected at source (TCS).
A Chartered Accountant or ‘CA’ as commonly known, is a professional who has undergone high standards of theoretical education and practical training, and in the process, has passed final examination in Chartered Accountancy conducted by The Institute of Chartered Accountants of India (ICAI) and has been enrolled as its member. He is a well rounded professional—well-versed […]
Finance Minister Pranab Mukherjee on August 10 released the New Draft Direct Tax Code. The draft, which is expected to radically change the tax structure, will now be open for discussion after which it will take the form of law. The finance minister had in his budget promised to deliver a new code within 45 […]
A Calcutta High Court judgment today held that Customs, Excise, Service Tax Appellate Tribunal (CESTAT) cannot dismiss an appeal when a writ application thereto is pending before a high court. The order gave much awaited relief to many appellants whose applications and pleas were pending before the CESTAT
ICAI has provided the facility to members to download there firm constitution certificate online so that member need not to visit ICAI office for getting a copy of the same. To view and print the same member will require to follow following steps:- 1. Have to go the following website:-
The next Chartered Accountants Examinations of the Institute will be held from 5st to 19th November, 2009. The sale of Examination Application forms for IPCE, PCE and Final Examinations would commence from 17th August, 2009. The last date for sale and receipt of filled in application is 7th September, 2009 (without late fee) and 14th […]
The Authority for Advanced Ruling has ruled that if an Indian company pays a commission to an overseas company to promote its business in that country, such payment will not be taxable in India. The AAR, a quasi judicial body on matters of taxation
The results of the Chartered Accountants Final and Final (New Course) Examinations, held in June, 2009 are likely to be declared on Thursday, the 13th August, 2009 around 2:00 PM and the same as well as the merit list (candidates securing a minimum of 55% and above marks and upto the maximum of 50th Rank […]
Many co-operative housing societies collecting transfer premium from the transferee would heave a sigh of relief by the Mumbai High Court decision dated 17th July, 2009. So far the income tax authorities in the State of Maharashtra and the Mumbai Tribunal were following the Mumbai Special Bench Decision in the case of Walkeshwar Triveni CHS
