Non-filers with potential tax liabilities- It is seen that a large number of non-filers relating to AY 2010-11 onwards identified in various NMS cycles have not filed return/ submitted response and these cases have not been closed by the field formations. These open cases are available on i-taxnet(NMS cycle 1 and 2) and Actionable Information Monitoring System (AIMS) (NMS cycle 3 and 4).
The Hon’ble Supreme Court in Ram Laxman Sugar Mills vs. CIT [1967] 66 ITR 613 observed that a HUF is undoubtedly a Person with in the meaning of section 2(31), it is however not a juristic person for all purposes and cannot enter in to an agreement of partnership either with another HUF or Individual.
In the below PPT Authors have tried to give over all view of major clauses of Model GST Law, 2016 so that one can understand about GST Model law and its provisions. Read / Download PPT Download PPT on GST Model Law and GST Business Reports Read PPT
Number of queries are being received from the students with respect to the proposed change in the curriculum of Education and Training of CA course as to what will happen if registration is done under the Existing Scheme.
The basic purpose of Indian Stamp Act, 1899 is to raise revenue for Government, and government would like to earn more money either by imposing a tax or by charging Duty and in that Duty includes the Stamp Duty, the matter is not relevant but the money is more important for government in the present scenario.
In this write up I tried to analyse:- 1. Scheme of Input Tax Credit under Model GST Law 2. About various returns under GST and 3. Matching concept of input tax credit in GST.
A Company shall enter into any contract or arrangement with a Related Party only after taking consent of Board of Directors BY PASSING Board Resolution at Board Meeting with Respect to : 1. Sale, purchase or supply of any goods or materials 2. Appointment of any agent for purchase or sale of goods, materials , services or property
According to the income tax guidelines, income tax is deductible annually for each financial year commencing from 1st of April and ending on the 31st March. The responsibility of the employer has been affixed by the Income tax Department to deduct income tax from the salary of employees monthly on proportionate basis
WHAT IS INCOME FROM HOUSE PROPERTY? Income that arises by owner from any building or land attached with building is chargeable under the head House Property..
Foreign Exchange Management Act, 1999 (‘FEMA’) is one of the key Indian legislations brought into force with an objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India. Reserve Bank of India (‘RBI’), which is the Apex Bank, governs FEMA and Regulations made thereunder.
