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Posted On:  2 years ago


Speedy disbursal of pending refund claims of exporters of services under rule 5 of the CENVAT Credit Rules, 2004

I am directed to refer to Board’s circular No. 187/6/2015-Service Tax dated 10th November, 2015 on the above subject and to inform that in the light of some representations received in this context from accounting bodies, industry associations and others, the following points are clarified.

article author One Roof Consultant

Posted On:  2 years ago


Life Insurance its key features and benefits

Imagine a situation – if you were to die, not only will your family stop getting the income you contribute but the loans you have taken and the related cost of living, will put them back financially by lakhs of rupees in debt There have been quite a few cases like this and in each one the family has had to go through a lot of pain, and in some cases, has had to sell the property to pay back the dues or have to struggle a lot.

article author Rajendra Prasad Totla

Posted On:  2 years ago


Start Up India and its coverage

'Start- up India'  initiative was first announced by Prime Minister, Mr. Narendra Modi, in his Independence Day speech. This scheme was launched by the Department of Industrial Policy and Promotion (hereinafter referred to as the 'DIPP'), and it aims at fostering entrepreneurship and promoting innovation by creating an ecosystem that is conducive for growth of Start-ups. The primary objective is for India to become a nation of job creators instead of being a nation of job seekers. For this particular purpose, Government has declared a provisional budget

article author PANKAJ KUMAR SHARMA

Posted On:  2 years ago


DVAT Rewards Scheme for Dealer

Delhi VAT: Reward/Appreciation scheme for dealers GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE AND TAXES: VYAPAR BHAWAN I.P.ESTATE: NEW DELHI -110 002 No. F.3(632 )/Policy/VAT/2015/PF/363-69 Dated: 10-06-2016

article author PANKAJ KUMAR SHARMA

Posted On:  2 years ago


Equalisation Levy on Online Advertisement

“In order to tap tax on income accruing to foreign e-commerce companies from India, it is proposed that a person making payment to a non resident, who does not have a permanent establishment, exceeding in aggregate Rs. 1 Lakh in a year, as consideration for online advertisement, will withhold tax at 6% of gross amount paid, as Equalization levy. The levy will only apply to B2B transactions.”

article author PANKAJ KUMAR SHARMA

Posted On:  2 years ago


Separate date for furnishing 15G/15H announced by CBDT vide Notification No 09 2016

TDS return for June was required to be filed by 31st July, for Sep by 31st October, for December by 31st January, for March by 31st May as per N/N 30/2012 dtd. 29-04-2016. No separate date was prescribed for 15G/15H.However now, separate dates for uploading 15G/15H have been provided vide Notification dated 09-06-2016. Due Date for QE 30

article author One Roof Consultant

Posted On:  2 years ago


Transfer Fees Not payable to society in case of Transfer to Relatives.

The Model bye-laws states that a transfer fee of Rs 500 is payable on transfer of shares and interest in the capitalproperty of the society. Further, the maximum premium that can be charged by the society is Rs 25,000. However, in case of a transfer to the member's family or to his nominee or his heir legal representative after his

article author Dharmesh Jain

Posted On:  2 years ago


Inflation Versus Interest Rate which one is priority for India Concept by Raghuram Rajan's Dosa

Interest rates are always a source of conflict. Borrowers demand low rates. Fixed Depositors desire high rates.In such a scenario, what should RBI do? This was beautifully explained by the RBI Governor Dr.RaghuramRajan with the example of Dosas.The basic premise of Dr. Rajan's argument is quite simple - one should NOT look at the interest rates in isolation. This will give the wrong picture.Instead, to

article author One Roof Consultant

Posted On:  2 years ago


Do not wait till 31st July to file your Income Tax Return – Keep Ready 9 documents to file before due date

Many individual wait till last date for filing return and approach their Consultant / Chartered Accountant in last week of July thinking one week is sufficient to compute and file return for myself. However many times it is not practical to get all the documents / Bank statement / Share transaction statement and other important documents to collate and provide at last moment. There are many interaction and clarification and details required in ITR forms which has to be compulsory filled up. In case of incorrect information or giving partial information chances are there that the ITR filed will be rejected as defective return. Also in last minute filing department site works slow so there are chances of you missing the upload the income tax return

article author CA Chirag Chauhan

Posted On:  2 years ago


Form of application for a Licence under Public Warehousing Licensing Regulations, 2016,Circular no:26 Dated 9th June 2016

Upon the notification of Public Warehousing Licensing Regulations, 2016 / Private Warehouse Licensing Regulations, 2016 / Special Warehouse Licensing Regulations, 2016, a need has been felt to review the process of application for a warehouse licence and the form used for the same. For the purpose of certainty in providing information by applicants and transparency in procedure regarding processing of applications, the Board has prescribed

article author One Roof Consultant

Posted On:  2 years ago


All about Tax Collected at Source TCS on Motor Vehicle - FAQ - CBDT Clarifications Circular No 22/ 2016

Section 206C of the Income-tax Act, 1961 (hereafter referred to as 'Act'), prior to amendment by Finance Act, 2016. Provided that the seller shall collect tax at source at specified rate from the buyer at the time of sale of specified items such as alcoholic liquor [or human consumption, tender leaves, mineral being coal or lignite or iron ore etc. It also provided for collection of tax at source at the rate of one per cent on sale in cash of bullion exceeding 2 lakh rupees and jewellery exceeding 5 lakh rupees.

article author CA Chirag Chauhan

Posted On:  2 years ago


Changes in Income Tax Provisions Wef. 01.06.2016

Amendment relating to Advance Tax (The change is effective from financial year 2016-17 onwards) Amendments relating to TDS and TCS Expenses incurred by the assessee towards specified services to be covered under section 40(a)(ib) [W.e.f. 1-6-2016] Enabling of Filing of Form 15G/15H for rental payments [Section 197A]  [1-6- 2016 Relief to a non-resident for furnishing PAN [Section 206AA] Amendment to section 133C Income Declaration Scheme 2016 - This scheme will be effective from 1 June 2016 (already notified) The Direct Tax Dispute Resolution Scheme, 2016

article author Soniya Agarwal

Posted On:  2 years 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:  2 years 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:  2 years 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:  2 years ago


Exports Promotion Capital Goods Scheme

Exports Promotion Capital Goods Scheme (EPCG)

article author HARSHAL FIFADRA

Posted On:  2 years ago


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

Very useful for practicing Chartered Accountant

article author Soniya Agarwal

Posted On:  2 years 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:  2 years 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:  2 years 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