Posted On:  2 weeks ago


Why people don’t grow rich by investing in stocks?

A lot has been said and written about generating wealth by investing for the long term in equity markets. The mutual fund industry in India now boasts of monthly collections through Systematic Investment Plans (SIPs) of over Rs 6,000 crore – a bulk of these investments are by retail investors who plan to get rich by investing in the equity markets for years. Will these investors really achieve their goal of creating wealth for themselves in the long run?

article author CA Chirag Chauhan

Posted On:  4 weeks ago


Inspection, Search, Seizure and Arrest

In any tax administration the provisions for Inspection, Search, Seizure and Arrest are provided to protect the interest of genuine tax payers (as the Tax evaders, by evading the tax, get an unfair advantage over the genuine tax payers) and as a deterrent for tax evasion. These provisions are also required to safeguard Government’s legitimate dues.

article author One Roof Consultant

Posted On:  1 month ago


Transition Provisions under GST

GST is a significant reform in the field of indirect taxes in our country. Multiple taxes levied and collected by the Centre and States have been replaced by one tax called Goods and Services Tax (GST). GST is a multi-stage value added tax on consumption of goods or services or both.

article author One Roof Consultant

Posted On:  1 month ago


Accounts and Records in GST

Assessment in GST is mainly focused on self-assessment by the taxpayers themselves. Every taxpayer is required to self assess the taxes payable and furnishes a return for specified tax periods i.e. the period for which return is required to be filed. The compliance verification is done by the department through scrutiny of returns, audit and/or investigation.

article author One Roof Consultant

Posted On:  1 month ago


What you can expect from Budget 2018? Send us your budget expectation

Finance Minister, Arun Jaitley, has a big task after demonetisation and GST to present last budget with an eye on general elections in 2019. Following are some of expectation

article author CA Chirag Chauhan

Posted On:  6 months ago


GST FAQ on MSNS

a registered person will have to approach only one tax authority for all practical purposes. Each registered person would have one tax administration office, either of the Centre or of the State. Legal provisions (called cross empowerment) have been made to ensure that one officer can discharge all functions under CGST, SGST and IGST Act. The registered person would be informed of the tax administration concerned with him.

article author CA Chirag Chauhan

Posted On:  6 months ago


GST FAQ on Drugs & Pharmaceuticals

: In case of clearance of physician samples distributed free of cost, the ITC availed on the said samples has to be reversed in view of the provisions under Section 17(5)(h) of the CGST Act, 2017.No tax is payable on clearance of physician samples distributed free of cost as the value of supply is zero and no credit has been availed

article author CA Chirag Chauhan

Posted On:  11 months ago


FAQs on Input Tax Credit under Goods and Service Tax

Ans. Input tax means the central tax (CGST), State tax (SGST), integrated tax (IGST) or Union territory tax (UTGST) charged on supply of goods or services or both made to a registered person. It also includes tax paid on reverse charge basis and integrated tax goods and services tax charged on import of goods. It does not include tax paid under composition levy.

article author One Roof Consultant

Posted On:  11 months ago


FAQs on Job Work under Goods and Service Tax

Ans. Input tax means the central tax (CGST), State tax (SGST), integrated tax (IGST) or Union territory tax (UTGST) charged on supply of goods or services or both made to a registered person. It also includes tax paid on reverse charge basis and integrated tax goods and services tax charged on import of goods. It does not include tax paid under composition levy.

article author One Roof Consultant

Posted On:  12 months ago


CA guilty of professional misconduct for failure to report suspicious book entries

The Council of ICAI noted that huge payments were made by PCL on behalf of its subsidiary, Altos India Ltd. (AIL) but no disclosure of the same was made by the auditor. Further, it was also concluded that there were suspicious adjustment entries between AIL and PCL which ought to have raised a doubt about the genuineness of the transactions and ought to have been detected and reported by the CA.

article author CA Chirag Chauhan

Posted On:  12 months ago


Why should you invest in ELSS for 80C and RBI bond before March?

After demonetization, the only asset class which seems to be giving positive double digit returns is equity. The real estate investment has given zero return in last 4 years. With government capping tax exemption on interest on second property, investing in real estate may not give return in coming years. Investment in fixed deposit is meaning less as it gives negative return considering high inflation and if you include taxes it becomes even worst.

article author CA Chirag Chauhan

Posted On:  1 year ago


Consultation Paper on Amendment to SC(R)(SECC) Regulations, 2012

To solicit views from public on suggestion pertaining to amending the defmition of “Commodity Derivatives Exchange” and “National Commodity Derivatives Exchange” and also” provisions applicable to commodity derivatives exchanges” in the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2012 (SECC Regulations) in order to enable trading instruments relating to commodity derivatives including options on commodity derivatives exchanges.

article author One Roof Consultant

Posted On:  1 year ago


Deductions under 80C available for Non Resident Individuals (NRI’s)

Contributions by an individual or HUF to specified scheme U/S 80c qualify for a deduction up to an aggregate ceiling of Rs. 150000 from gross total income. There are no ceilings on deductions u/s 80C for individual schemes, unless the rules of the schemes provide for their own limits. These schemes include:

article author CA Chirag Chauhan

Posted On:  1 year ago


Report under the Companies (Auditor’s Report) Order, 2016 Annexure Format

In terms of the information and explanations sought by us and given by the company and the books and records examined by us in the normal course of audit and to the best of our knowledge and belief, we state that: - 1a.) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets.

article author CA Chirag Chauhan

Posted On:  2 years ago


Ideal wealth accumulation strategy

Wealth Accumulation is a dream of every Individual. My article explains in simple terms, the strategies and area of Investment, the risk cover, which an Individual should in a life span, plan and develop to create wealth

article author Rajendra Prasad Totla

Posted On:  2 years ago


All about Capital Gains

The Article Discusses about Tax Treatment of Long Term Capital Gain arising from Transfer of Capital Assets under Income Tax Act, 1961. Articles  discusses Meaning of Capital Assets, What Constitutes a Capital and what is not a capital Asset, How to Apply Indexation Provisions, Period for Computation of Long Term Capital Asset, Tax on long-term capital gain normally @ 20% but in certain special cases @10%, Adjustment of LTCG against the basic exemption limit and Deductions under sections 80C to 80U and LTCG.

article author Ashish Srivastava

Posted On:  2 years ago


Let’s start investing

Now that you have understood why investing is important, here’s how you can actually go about doing it in 3 simple steps: Step 1: Be sure that the investments that you plan to make suit you: Investments and risks: Some investments carry more risk than others. For instance, buying and selling stocks on a daily basis is considered risky while keeping your money in a bank fixed deposit or better still, government bonds is considered safe. There are other investments such as gold and real estate which fall somewhere in between.

article author Kapil Gandhi

Posted On:  2 years ago


Clearance of bunker fuels to Indian Ship/Vessel carrying containerized cargo

It is hereby directed to refer to Si. No. 65A of notification no. 12/2012-CE dated 17.03.2012 as amended whereby clearance of bunker fuels (i) IFO 180 CST (ii) IFO 380 CST, for use in ships or vessels has been permitted without payment of Central Excise duty subject to the conditions specified under SI. No. 52 of the annexure to the notification. In this connection, trade has requested

article author One Roof Consultant

Posted On:  2 years ago


Investment through mutual fund - Mutual Fund Mantras to Help You Create Wealth

The key to creating wealth and achieving life goals through mutual funds depends on how well you make use of these investing principles. Mutual funds: To make life easy Mutual funds are one of the most investor-friendly investments available amongst all the market-linked investments. There are mutual fund schemes for every asset class, be it equity, debt, a mix of them or asset, such as, gold. This makes mutual fund suitable for meeting different goals, at different life stages of an investor. 

article author Sanjay Pithadia

Posted On:  2 years ago


Step for Ease of Doing Business - Clarification on Excise on Jewellery World

Some Important facts of Excise on Jewellary - Path of GST

article author Darshan Jain