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Posted On:  1 year ago


What investors look into company or startup while investing?

Looking to raise funds for your company? What is criterion earmarked by investors? What Process investors follow while investing in company? What start-up attracts investors?

article author CA Nikesh Sheth

Posted On:  1 year ago


INPUT SERVICE DISTRIBUTOR - CONCEPT SIMPLIFIED & SCOPE WIDENED

Budget 2016 has been introduced and it has bought some major changes in the Cenvat credit scheme by amending the Cenvat Credit rules, 2004. One such change has been introduced in the rule 7 which relates to the input service distributer. With a view to improve credit flows between different manufacturing / service locations, Rule 7 dealing with distribution of credit on input services by an Input Service Distributor is being completely rewritten by way of substitution of the existing Rule 7 of the CCR. Also, a new rule 7B has been inserted providing the distribution of credit by warehouse. This article is an insight on the amendments so made w.e.f. 1.4.2016.

article author CA PRADEEP JAIN

Posted On:  1 year ago


RULE 7B OF CENVAT CREDIT RULES, 2004 - A NEW CONCEPT FOR MULTI-UNIT COMPANIES

Budget, 2016 has come up with some new provisions and concepts in the Central Excise Law. One such provision has been introduced in the name of rule 7B of Central Excise Rules, 2004 which has been framed on the same lines of input service distributor. This little article is about this new concept in the Central Excise Law.

article author CA PRADEEP JAIN

Posted On:  1 year ago


Starting a New Business or Profession? Compare Structure and type of Entity– Sole, Partnership, LLP or Company

The very first question in the mind of entrepreneurs when they start new business or profession is the structure of entity which can be formed which has legal status and easy to do compliance. Many Start up are confuse whether to Form a Private Limited Company or Limited Liability Partnership or Partnership to begin the new venture. The article gives you analysis which can help you to decide structure of the entity its tax benefit and compliance requirement.

article author CA Chirag Chauhan

Posted On:  1 year ago


IMPORT OF GOODS AT CONCESSIONAL RATE OF DUTY - PROCEDURE SIMPLIFIED WITH A DEMERIT

The Budget, 2016 brought about a series of changes in various sectors of the industry. In this article we will focus on the various changes made through notification No. 32/2016 – Customs (N.T.). This notification has been issued to supersede the existing Customs (Import of Goods at Concessional Rate of Duty for Manufacture of Excisable Goods) Rules, 1996. The new rules will be known as Customs (Import of Goods at Concessional Rate of Duty for Manufacture of Excisable Goods) Rules, 2016 and are applicable w.e.f. 1.4.2016.

article author CA PRADEEP JAIN

Posted On:  1 year ago


Import of goods by vessel - Budget, 2016 made it expensive!!!

Budget 2016 has been introduced and with it has come many amendments and changes in the law. One such change is with respect to the services by way of transportation of goods by an aircraft or a vessel. The amendments made in it are effective from 1.6.2016 and will impose additional fiscal burden on the importers importing goods via sea. This article demonstrates the existing scenario, amendments made and the implications thereof.

article author CA PRADEEP JAIN

Posted On:  1 year ago


New Form 35 for E Filing of Appeals Commissioner (Appeals) CIT(A)

The Income Tax Department has Notified New Form 35 for Filing Online for Appeals to be made to CIT. Following are important points Form 35:

article author CA Chirag Chauhan

Posted On:  1 year ago


General procedure of bank branch audit and important facts, concept of banking

Banking sector is the backbone of the economy. But now a days it is a major weak sector. What would be the probable reason for the same, i wanted to highlight the same. Since the weakness is in whole sector hence the responsibility of the auditor will automatic get increase, so i wanted to brief about the General Audit Procedure in case of Bank Branch Audit and important terms.

article author Darshan Jain

Posted On:  1 year ago


Central Excise Measure taken for Ease of Doing Business

In line with the objectives to facilitate trade and improve ease of doing business, the following measures have been taken by CBEC during last one year:

article author One Roof Consultant

Posted On:  1 year ago


Changes under Service Tax Proposed in Finance Bill 2016

1) Service tax another surcharge from 01st June 2016- “Krishi Kalyan Cess” – 0.5 % . Thus Service tax now effectively will be 14%+0.5%+0.5% = 15 % 2) Legal Service now removed from Reverse Charge Mechanism and brought to direct Service Tax at above effective rate from 01st April 2016.

article author One Roof Consultant

Posted On:  1 year ago


Issue of taxability of surplus on sale of shares and securities – Capital Gains or Business Income – Instructions in order to reduce litigation – Circular No.6/2016

Issue of taxability of surplus on sale of shares and securities – Capital Gains or Business Income – Instructions in order to reduce litigation – Circular No.6/2016

article author CA Chirag Chauhan

Posted On:  1 year ago


Tax Deduction at Source (TDS) on payments by television channels and publishing houses to advertisement companies for procuring or canvassing for advertisements. Circular No. 05/2016

Tax Deduction at Source (TDS) on payments by television channels and publishing houses to advertisement companies for procuring or canvassing for advertisements. Circular No. 05/2016

article author CA Chirag Chauhan

Posted On:  1 year ago


Tax Deduction at Source (TDS) on payments by broadcasters or television channels to production houses for production of content or programme for telecasting. Circular No. 04/2016

Tax Deduction at Source (TDS) on payments by broadcasters or television channels to production houses for production of content or programme for telecasting. Circular No. 04/2016

article author CA Chirag Chauhan

Posted On:  1 year ago


Revised and Latest TDS Tax Deducted at Source Rate Chart for FY 2016-17 AY 2017-18

TDS is to be deducted on payment made as prescribed by Income Tax Act by persons who are liable to deduct TDS. It is the duty of the deductor to deduct TDS as given in Income Tax Act Following are the revised rate of TDS applicable for Financial Year 2016 -2017 Assessment Year 2017-18

article author CA Chirag Chauhan

Posted On:  1 year ago


Single Registration facility under Central Excise – condition amended

Centralised registration process for Excise registration

article author CA PRADEEP JAIN

Posted On:  1 year ago


EXCISE DUTY STUDDED ON JEWELLERY BY BUDGET, 2016

It is the most expensive amendment ever… Yes, now by virtue of amendments made by Budget, 2016; excise duty is being levied on articles of jewellery [excluding silver jewellery, other than studded with diamonds/other precious stones]. Thus, all the jewellery items except pure silver jewellery will now be subject to excise duty w.e.f. 1.3.2016. This article is about the changes brought by the recent budget with respect to jewellery.

article author CA PRADEEP JAIN

Posted On:  1 year ago


Change in Employee Provident Fund Taxation in Budget 2016 applicable from 1 April 2016

The budget was announced giving a nightmare in the day for the salaried assessees as the finance minister announced that PF is taxable. Only interest accrued on 60 per cent contribution to EPF after April 1, 2016 will be taxed; principal amount to remain exempt. Also PPF contributions will continue to be tax exempt; no tax on withdrawal and small salaried employees with up to Rs 15,000/month income will be kept out of purview of proposed taxation of EPF.

article author One Roof Consultant

Posted On:  1 year ago


Union Budget 2016-17 - An Analysis

Dear Reader, The Finance Minister in his Budget presented to the Parliament today has aimed at giving fillip to growth and promoting the new age industries. Please find enclosed herewith our Tax Bulletin analyzing the direct tax proposals as stated in the Budget. Trust you will find it an interesting read.

article author Vispi T. Patel

Posted On:  1 year ago


How to Pay Zero Tax for Professionals (CA, CS, Lawyers, Doctors, etc) earning Income of Rs 16 Lacs in Financial Year 2016-17- Section 44ADA Budget 2016

The Present Scheme of Presumptive Taxation is only for certain Business. Budget 2016 has introduce presumptive taxation scheme to reduce the compliance burden of the small professional tax payers having income up to Rs 50 Lacs from professions.

article author CA Chirag Chauhan

Posted On:  1 year ago


How to Pay Zero Tax for Income up to Rs 12 Lakhs from Salary for Financial Year 2016-17 Budget 2016

The Budget has made no significant change for Tax Rates for Individuals. The Individuals who earn income of Less than 5 Lakhs rupees will get Rs 5000/- as Tax rebate under section 87A.

article author CA Chirag Chauhan