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Posted On:  2 years ago


Trust formation and registration as per BOMBAY Trust ACT 1950 - FAQ

Formation of Trust in Maharashtra requires compliance as per Bombay Trust Act 1950. The process of formation, compliance, Registration process, exemption are discussed in the following FAQ.

article author One Roof Consultant

Posted On:  2 years ago


New PAN Quoting Rules – How individual transaction are effected from Jan 2016

Every person shall quote his permanent account number in all documents pertaining to the transactions specified below. The new rule make it compulsory to quote pan at the time of opening a bank account and Demat Account, purchase or sale of goods and services of more than Rs 2 lacs.

article author CA Chirag Chauhan

Posted On:  2 years ago


How to Start a primary School in India

An article about How to Start a Primary School in India

article author CA Kapil Goel

Posted On:  2 years ago


Term Insurance v/s Traditional Insurance

Insurance Myths Simplified !!!

article author ROHIT SHARMA

Posted On:  2 years ago


IDEAL RETIREMENT PLANNING

An ideal retirement portfolio is the one that would meet the retirees financial needs until death. But the manner in which the actual funds are allocated in order to accomplish this can vary substantially depending upon number of factors. Most ideal portfolios are going to have at least some measure of the following characteristics.

article author Sanjay Pithadia

Posted On:  2 years ago


Binding Nature of Board Circulars-Confusion Settled or Created? Or Circulars contrary to SC decisions deemed as rescinded-A good start!

The binding nature of the Circulars issued by Board is the issue that has been a matter of litigation since inception. There have been a number of decisions on this matter, that too, of Supreme Courts which have added fuel to the fire of litigation. There has been a constant fight between assessees and revenue department regarding the applicability and precedential value of the circulars issued by the Board. However, it appears that the Board has resorted to put an end to this controversy by issuing clarification vide Circular no. 1006/13/2015-CX dated 21.09.2015. This circular issued by the Board is the centre of attraction of this article.

article author CA PRADEEP JAIN

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