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Posted On:  1 year ago


Income Tax Return Forms

A brief Summary of Types of Forms used for Filing Income Tax Return.

article author CA MANISH BINDAL

Posted On:  1 year ago


No service-tax on sale of under-construction flats if contract price includes value of land: HC

The Petitioners are individuals who have entered into separate agreements with a builder (M/s Sethi Buildwell Pvt. Ltd. - hereafter 'the builder') to buy flats in a multi-storey group housing project

article author One Roof Consultant

Posted On:  1 year ago


How to save Rs 10 crore as retirement corpus

Want to retire with 8 digit figure as your corpus? 10 Crore in your Bank Account? Yes you can do that even if you are in your 30’s . Though it sounds ambitious and difficult to achieve, proper planning, Investing in discipline, and calculative risk taking can make this possible. Just Rs 15000/- per month investment as per the plan can help you achieve the goal.

article author CA Chirag Chauhan

Posted On:  1 year ago


Exports Promotion Capital Goods Scheme

Exports Promotion Capital Goods Scheme (EPCG)

article author HARSHAL FIFADRA

Posted On:  1 year ago


FORMAT OF INDEPENDENT AUDIT REPORT FOR F.Y. 2015-16

Very useful for practicing Chartered Accountant

article author Soniya Agarwal

Posted On:  1 year ago


Liable for Tax Audit? You have to maintain Records and file AIR from 2016

Assessee’s, who are liable to tax audit including individual, Partnership, Company, LLP and others have to maintain record and file Annual Information Return in form 61A u/s 285BA read with Rule 114E from Provision of Income tax: applicable from 01-04-2016.

article author CA Chirag Chauhan

Posted On:  1 year ago


Tax at source (TDS) Deposition on Sale of Property u/s 194-IA has been extended to 30 days from 7 days

CBDT has vide Notification No. 39/2016 dated: 31/05/2016 has extended Due date of filing statement for deduction of tax at source (TDS) on Sale of Property u/s 194-IA to 30 days from earlier 7 days from the end of month in which tax was deducted by making amendment to Rule 31A (4A) & 29B of Income-tax Rules, 1962.

article author One Roof Consultant

Posted On:  1 year ago


How to get back income tax refund in your account if wrongly credited in someone else's account?

Few steps you can follow to get your refund back in your account only

article author DARSHAN GANDHI

Posted On:  1 year ago


Valuation of Supply of Goods and Services Under GST

Various Methods of valuation of Goods and Services under GST

article author CS Deepak Pratap Singh

Posted On:  1 year ago


Relaxation of additional fees and extension of time and filing of e-Forms by the Companies under Companies Act, 2013 and for filing of Annual Return (Form 11) by the LLPs under the Limited Liability Partnership Act, 2008.

The due date for filing Form 11 for LLP annual return for FY 2015-16 has finally been extended. Ministry of Corporate Affairs through General Circular No. 07 dated 31.05.2016 has extended the due date for filing of the Form 11 for FY 2015-16 has been extended upto 30th June 2016.

article author CS Perila Sheth

Posted On:  1 year ago


Annual Filing of LLP

Requirement of annual filing with ROC of LLP.

article author PANKAJ KUMAR SHARMA

Posted On:  1 year ago


Clarification on issues regarding levy of Service Tax on the services provided by Government or a local authority to business entities

A service provided by Government or a local authority to a business entity has been made taxable w.e.f 1st April 2016. Post Budget 2016, representations have been received from several quarters including business and industry associations in respect of various aspects pertaining to the taxation of such services. Accordingly, the following clarifications are issued

article author One Roof Consultant

Posted On:  1 year ago


Krishi Kalyan Cess (KKC)-All you need to know

Recently in Budget 2016 the finance minister Mr. Arun jaitley has announced i.e. KKC (Krishi Kalyan Cess) to be levied at the rate of 0.50% on all taxable services. The objective behind the introduction of KKC was to finance the agriculture sector and make an improvement in welfare of the farmers.

article author One Roof Consultant

Posted On:  1 year ago


TCS on cash sale of goods or services

New Sub Section (1D) of Section 206C is as follow: Every person, being a seller, who receives any amount in cash as consideration for sale of bullion or jewellery or any other goods (other than bullion or jewellery) or providing any service shall, at the time of receipt of such amount in cash, collect from the buyer, a sum equal to 1% of sale consideration as income-tax, if such consideration,

article author Soniya Agarwal

Posted On:  1 year ago


Stepwise Registration under Luxury Tax in Maharashtra

The Dealer has to cover the following steps for Registration under Luxury Tax Act (LT)

article author CA Chirag Chauhan

Posted On:  1 year ago


Bad Debts can be claimed if written of in books as irrecoverable: CBDT

Admissibility of claim of deduction of Bad Debt under section 36(1) (vii) read with section 36(2) of the Income-Tax Act, 1961- reg. CIRCULAR NO. 12/2016, Dated: May 30, 2016 Proposals have been received by the Central Board of Direct Taxes regarding filing of appeals/pursuing litigation on the issue of allowability of bad debt that are written off as irrecoverable in the accounts of the assessee. The dispute relates to cases involving failure on the part of assessee to establish that the debt is irrecoverable.

article author CA Chirag Chauhan

Posted On:  1 year ago


Clarifications for implementation of FATCA and CRS-reg : CBDT Circular no.12/2016

An Inter-Governmental Agreement between India and USA was signed for implementation of Foreign Account Tax Compliance Act (FATCA). The Government of India has also joined the Multilateral Competent Authority Agreement (MCAA) for Automatic Exchange of Information as per Common Reporting Standard (CRS). To provide guidance for implementation of FATCA and CRS, A Guidance Note was released on 31st August 2015 which was subsequently updated on 31.

article author CA Chirag Chauhan

Posted On:  1 year ago


Equalisation Levy in India, rules and how it effects Business in India – CBDT Notification 38/2016

What is equalisation levy tax ? From June 1, an equalisation levy of 6% will have to be deducted by a business entity in India which makes payments exceeding Rs 1 lakh in the aggregate in a financial year to a non-resident service provider for specified services.

article author CA Chirag Chauhan

Posted On:  1 year ago


Stepwise Registration under Profession tax registration certificate (PTRC) in Maharashtra

1. Create Temporary Profile Click on ë-Registration” under e-services menu

article author CA Chirag Chauhan

Posted On:  1 year ago


Step wise registration under Profession tax Enrollment certificate (PTEC) in Maharashtra

Steps involved in the grant of Enrolment Certificate (EC) under sub-section(2) or sub-section(3) of section 5 of the Maharashtra State Tax on Professions, Callings and Employments Act, 1975 (PT Act)

article author CA Chirag Chauhan