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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

Posted On:  1 year ago


How to Pay Zero Tax for Business Receipts -Turnover of Rs 1 Crore for Financial Year 2016-17 Budget 2016

To give relief to small taxpayers from this tedious work, the Income-tax Act has framed the presumptive taxation scheme under sections 44AD. A person adopting the presumptive taxation scheme can declare income at a prescribed rate and, in turn, is relieved from tedious job of maintenance of books of account.

article author CA Chirag Chauhan

Posted On:  1 year ago


Criterion and Documents required for Unsecured SME loans in India

I have mentioned all the important details about my company profile and my activities . Please go through it and for any other assistance you can get in touch with me on aaishwarya.s@andromeda.in

article author Aaishwarya Shrivastav

Posted On:  1 year ago


BUDGET 2016 - CA ROHIT R SHARMA

GIST OF UPDATES IN BUDGET 2016

article author ROHIT SHARMA

Posted On:  1 year ago


Feared of cheat while buying house?? Know simple steps to stay secured

What are challenges faced while buying your first home, Steps to be followed while buying property, what is to be considered while buying a property from builder? What is process to buy a house? If this queries are in your mind and you want to get prevented from cheat by builder/seller follow these simple steps to become best buyer in town

article author CA Nikesh Sheth

Posted On:  1 year ago


Provisions relating to Direct Taxes- Finance bill 2016

The Finance Budget is annually presented in the Parliament and after debate and discussion the Bill is passed with some changes. However broadly the Bill remain the same.

article author CA Chirag Chauhan

Posted On:  1 year ago


The Finance Bill 2016 And Budget Speech by Arun Jaitely - Union Budget

Budget Speech 2016 by Finance Minister Arun Jaitely Minister of Finance February 29, 2016

article author CA Chirag Chauhan