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Posted On:  2 years ago


Certificate under Rule 37BB of Income Tax Rules, 1962

This article describes major issues about TDS applicability, TDS rates in foreign remittances and recent amendment in Section 195 (6) as also recent decision of Pune ITAT on applicability of Section 206AA.

article author Milind Kulkarni

Posted On:  2 years ago


Investment planning and Tax Savings....planner for FY 15-16

Investment Planning and Tax Savingt Planner for FY 15-16. Invest with planning and reap higher benefits, rather invest last minute

article author CA Amit Shah

Posted On:  2 years ago


All you want to know about Housing Loan

Guide for Home Loan Seekers

article author CA Amit Shah

Posted On:  2 years ago


Credit Balance of Ed Cess & SHE Cess-Never Ending Story!

The announcement of the exemption to the levy of Education Cess and SHE Cess levied on Excise duty with effect from 01.03.2015 and that levied on service tax with effect from 01.06.2015 created new hopes in the minds of the assessees as regards ‘Ease of doing business’ with reduction in the compliance procedure for maintaining separate accounting records for Education Cess and SHE Cess. However, the assessees forgot that everything comes for a cost. The hapeless assessees did not realise that the exemption brought the inbuilt cost in the form of unutilised balance of Education Cess and SHE Cess for which there was no amendment or clarification. This article is an attempt to highlight the probable difficulties faced by the assessees on account of no clarification as regards utilisation of the balance of Education Cess and SHE Cess available as on 01.03.2015 and 01.06.2015.

article author CA PRADEEP JAIN

Posted On:  2 years ago


MAT (Minimum alternative tax) Provision under section 115JB of Income Tax Act

Law makers viewed that due to some loops in the law many companies find an advantage I.e. they either disclose a very high profit to attract investors or retain the current investors at the same time they may disclose less profit to escape from tax payment. The massive difference in profit of the company is due the provisions in the companies act and income tax act e.g.: there different provision relating to depreciation in both the act.To put an end to this problem and bring these kind of companies under the tax net the law makers has introduce MAT (Minimum alternative tax).

article author CA Chirag Chauhan

Posted On:  2 years ago


List of benefits available to Startup and Small Business under Income Tax Act for Financial Year 2015-16 and Assessment Year 2016-17

Typically a startup and Small Business face many challenges. Compliance with Income Tax laws and rules is one of them. Government has provided various benefit to small business by simplifying procedure like Presumptive Taxation, direct deduction of various expenses, additional deprecation, required to maintain books of accounts and audit and TDS provision applicability. The following Table provides summary of benefits.

article author CA Chirag Chauhan

Posted On:  2 years ago


Rates for Tax Deduction at Source for Assessment year 2016-17

A comprehensive Chart for Tax Deducted at Source (TDS) for Individuals, Non Resident, Domestic Company and Foreign Company for the Financial Year 2015-16 and Assessment Year 2016-17

article author CA Chirag Chauhan

Posted On:  2 years ago


SWACHH BHARAT CESS-CLEANING INDIA OR CLEANING POCKETS!!

The moment when it was announced by the Hon’ble Finance Minister that the exemption is being provided to the levy of Education Cess and Secondary & Higher Education Cess, there was a sigh of relief that there will be reduction in the rate of service tax.

article author CA PRADEEP JAIN

Posted On:  2 years ago


Change in Service Tax effects of Swachh Bharat Cess

The government has come up with introduction of SBC immediate post festive season. Notification no. 21/2015 has been issued appointing 15th November, 2015

article author One Roof Consultant

Posted On:  2 years ago


Legal Remedies For A Share Market Trader

Disputes arise between Traders,investors ( constituents ) and brokers during normal course of business. This article dwells with the issues and provides insghts to remedies available in such a scenerio

article author Lakshmanan V S

Posted On:  2 years ago


Service Tax Penalty u/s 76 & 78

Service tax has become a major source of revenue to the government. Service tax being complicated on many issues and interpretation often lead to litigation.

article author CA. VINEET RATHI

Posted On:  2 years ago


PROPOSED REFUND PROCESS UNDER GST – HAPPINESS ON THE WAY TO EXPORTERS

Goods and Services Tax (GST) is said to be the most awaited indirect tax reform of India since independence. Due to much hyped advantages, the industry is eager to welcome GST and so is the Government. On the way forward to GST, government has issued the ‘Report of The Joint Committee on Business Processes for GST’ for the persual of industry at large. Suggestions have also been invited for the improvement of business processes discussed in this report. The report is divided into three parts namely GST Registration, GST payment process and GST refund process. In this piece of diction, we have tried to give an insight of the third part of this report namely “GST Refund process”.

article author CA PRADEEP JAIN

Posted On:  2 years ago


Input credit and payment of Invoices.

Reversal of CENVAT credit in respect of invoices where payment is not made within 3 months of date of invoice. Consequences of not making payment within three months of the date of the invoice- where service provider is liable to discharge service tax liability - See more at: https://expertmile.com/arti.php?article_id=880&title=Input-credit-and-payment-of-Invoices.#sthash.upuqSOv6.dpuf

article author SAGAR BHALERAO

Posted On:  2 years ago


DRAFT REGISTRATION PROCEDURE OF GST – THERE IS A SCOPE FOR IMPROVEMENT

“Sincere” is the word when combined with the word “Effort” makes the road to success as smooth and reliable. Such sincere efforts are being made by the Central Government for paving the path to Good and Services Tax (GST). The government with the aim to implement the GST w.e.f. 1.4.2016 has issued a draft for persual of experts, trade associations, etc. to suggest the flaws and improvements thereupon. This draft is in form of ‘Report of The Joint Committee on Business Processes for GST’. This report is divided into three parts namely GST Registration, GST payment process and GST refund process. This article is an attempt to analyze the first part of this report namely ‘GST Registration’.

article author CA PRADEEP JAIN

Posted On:  2 years ago


PROPOSED PAYMENT PROCESS UNDER GST – NEW & IMPROVED

‘Report of The Joint Committee on Business Processes for GST’ has already been circulated and views have been sought from people at large for suggesting improvements thereupon. This report is divided into three parts namely GST Registration, GST payment process and GST refund process. In this article, some benefits of the proposed payment process under GST regime have been discussed alongwith some minor drawbacks of the proposal.

article author CA PRADEEP JAIN

Posted On:  2 years ago


Real estate investment is better than fixed deposit investment

Why people prefer investment in real estate over fixed deposit? Or why fixed deposit is unable to meet your expected returns? Or why people have more investment exposure in real estate than fixed deposit investment in India?

article author CA Nikesh Sheth

Posted On:  2 years ago


How to reply E Shayog Notice from Income Tax Department

The Digital Initiative taken by Government of India is helping in data mining and proving meaningful result. The Assessee who has not disclosed or skip disclosing income, property transactions , investment, gifts, loans, foreign income, etc. have received Notice in form of Email, SMS and Letters for more disclosure.

article author CA Chirag Chauhan

Posted On:  2 years ago


Section 37:What's the issue with Share Capital?

This article is about one of the most important things which came out in terms that how to treat fees paid for enhancement of authorized capital to Registrar of Companies. Will it be a revenue expenditure or capital expenditure?

article author Akarsh Gupta

Posted On:  2 years ago


Reading of Auditors Report

The law has changed regarding reading of Auditors Report at the AGM. This article explains the earlier law and the new one under Companies Act 2013

article author Amitav Ganguly

Posted On:  2 years ago


SERVICE TAX ON EDUCATION SECTOR

This article is brief on service tax for education sector.

article author CA. VINEET RATHI