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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

Posted On:  2 years ago


Valuation of Supply of Goods and Services Under GST

Various Methods of valuation of Goods and Services under GST

article author CS Deepak Pratap Singh

Posted On:  2 years ago


Relaxation of additional fees and extension of time and filing of e-Forms by the Companies under Companies Act, 2013 and for filing of Annual Return (Form 11) by the LLPs under the Limited Liability Partnership Act, 2008.

The due date for filing Form 11 for LLP annual return for FY 2015-16 has finally been extended. Ministry of Corporate Affairs through General Circular No. 07 dated 31.05.2016 has extended the due date for filing of the Form 11 for FY 2015-16 has been extended upto 30th June 2016.

article author CS Perila Sheth

Posted On:  2 years ago


Annual Filing of LLP

Requirement of annual filing with ROC of LLP.

article author PANKAJ KUMAR SHARMA

Posted On:  2 years ago


Clarification on issues regarding levy of Service Tax on the services provided by Government or a local authority to business entities

A service provided by Government or a local authority to a business entity has been made taxable w.e.f 1st April 2016. Post Budget 2016, representations have been received from several quarters including business and industry associations in respect of various aspects pertaining to the taxation of such services. Accordingly, the following clarifications are issued

article author One Roof Consultant

Posted On:  2 years ago


Krishi Kalyan Cess (KKC)-All you need to know

Recently in Budget 2016 the finance minister Mr. Arun jaitley has announced i.e. KKC (Krishi Kalyan Cess) to be levied at the rate of 0.50% on all taxable services. The objective behind the introduction of KKC was to finance the agriculture sector and make an improvement in welfare of the farmers.

article author One Roof Consultant

Posted On:  2 years ago


TCS on cash sale of goods or services

New Sub Section (1D) of Section 206C is as follow: Every person, being a seller, who receives any amount in cash as consideration for sale of bullion or jewellery or any other goods (other than bullion or jewellery) or providing any service shall, at the time of receipt of such amount in cash, collect from the buyer, a sum equal to 1% of sale consideration as income-tax, if such consideration,

article author Soniya Agarwal

Posted On:  2 years ago


Stepwise Registration under Luxury Tax in Maharashtra

The Dealer has to cover the following steps for Registration under Luxury Tax Act (LT)

article author CA Chirag Chauhan

Posted On:  2 years ago


Bad Debts can be claimed if written of in books as irrecoverable: CBDT

Admissibility of claim of deduction of Bad Debt under section 36(1) (vii) read with section 36(2) of the Income-Tax Act, 1961- reg. CIRCULAR NO. 12/2016, Dated: May 30, 2016 Proposals have been received by the Central Board of Direct Taxes regarding filing of appeals/pursuing litigation on the issue of allowability of bad debt that are written off as irrecoverable in the accounts of the assessee. The dispute relates to cases involving failure on the part of assessee to establish that the debt is irrecoverable.

article author CA Chirag Chauhan

Posted On:  2 years ago


Clarifications for implementation of FATCA and CRS-reg : CBDT Circular no.12/2016

An Inter-Governmental Agreement between India and USA was signed for implementation of Foreign Account Tax Compliance Act (FATCA). The Government of India has also joined the Multilateral Competent Authority Agreement (MCAA) for Automatic Exchange of Information as per Common Reporting Standard (CRS). To provide guidance for implementation of FATCA and CRS, A Guidance Note was released on 31st August 2015 which was subsequently updated on 31.

article author CA Chirag Chauhan

Posted On:  2 years ago


Equalisation Levy in India, rules and how it effects Business in India – CBDT Notification 38/2016

What is equalisation levy tax ? From June 1, an equalisation levy of 6% will have to be deducted by a business entity in India which makes payments exceeding Rs 1 lakh in the aggregate in a financial year to a non-resident service provider for specified services.

article author CA Chirag Chauhan

Posted On:  2 years ago


Stepwise Registration under Profession tax registration certificate (PTRC) in Maharashtra

1. Create Temporary Profile Click on ë-Registration” under e-services menu

article author CA Chirag Chauhan

Posted On:  2 years ago


Step wise registration under Profession tax Enrollment certificate (PTEC) in Maharashtra

Steps involved in the grant of Enrolment Certificate (EC) under sub-section(2) or sub-section(3) of section 5 of the Maharashtra State Tax on Professions, Callings and Employments Act, 1975 (PT Act)

article author CA Chirag Chauhan

Posted On:  2 years ago


Stepwise Registration process under SCPT (Sugarcane cane purchase tax) in Maharashtra

Steps involved in the grant of Registration Certificate under section 5 of the Maharashtra Purchase Tax on Sugarcane Act, 1962

article author CA Chirag Chauhan

Posted On:  2 years ago


Stepwise Registration under Entry Tax Goods in Maharashtra

Steps involved in the grant of Registration Certificate under section 4 of the Maharashtra Tax on the Entry of Goods into Local Areas Act, 2002. (Maharashtra Act IV of 2003)

article author CA Chirag Chauhan

Posted On:  2 years ago


Stepwise Registration process under MVAT and CST - Maharashtra Value Added Tax and Central Sales tax

1. Introduction Under Maharashtra Value Added Tax Act, 2002, there are two modes of registration viz. (a) when the dealer crosses the threshold limit and; (b) When the dealer makes an application under voluntary scheme of registration (c) Non Resident Dealer (d) Casual Dealer Central Sales Tax is an Act to formulate principles for determining, when a sale or purchase of goods takes place in the course of inter-state trade of commerce, or outside a State or in the course of imports into or export from India, to provide for the levy, collection and distribution of taxes on sales of goods in the course of interstate trade of commerce and to declare certain goods to be of special importance in inter-state or commerce and specify the restrictions and conditions to which state laws imposing taxes on the sale or purchase of such goods is of special importance. Eligibility criteria for CST registration is that the dealer should have entered into inter-state trade of commerce.

article author CA Chirag Chauhan

Posted On:  2 years ago


Steps for E-Verification and User Manual for Form 35

E-Verify Form 35 (Individuals) Login to e-Filing Portal Click “e-File” Select “Prepare and Submit Online Form (Other than ITR)”

article author CA Chirag Chauhan

Posted On:  2 years ago


Section wise Changes in TDS Provisions from 1st June 2016

Chnages in TDS rate from 1 June 2016

article author One Roof Consultant

Posted On:  2 years ago


Profession Tax Enrolment Amnesty Scheme 2016 Maharashtra - Tax payable and documents required

The Maharashtra government has introduce Scheme for professionals and self-employed who has not enrolled for Professional Tax and not paid any Professional Tax (PT) till date. Government send usually notice to all those who are liable to pay professional tax and make them pay Professional Tax for 8 years with interest and penalty. To give one time relief to all government has introduce. This scheme is applicable only to the unregistered persons as on 1-4-2016, those who are already registered before 1-4-2016 cannot avail the scheme.

article author CA Chirag Chauhan

Posted On:  2 years ago


Features and Step wise process - Income Declaration Scheme 2016 – Convert your Black Money to White

Features and Step wise process - Income Declaration Scheme 2016 The Income Tax Department has come up with the Income Declaration Scheme 2016 which gives chance to Individual to come clean and declare their undisclosed investment, income, assets. The Center government has announce the scheme in Budget 2016. The Scheme Requires investment to be revalued as on 1 June 2016 and tax is to paid on fair market value of such assets which may not sound positive for declarants as assets have to be revalued. However confidentiality of declarant and immunity for prosecution, is very positive for declarant. In case the black money is not disclosed in this scheme and the undisclosed income will be liable to pay 300% of Penalty, interest , etc and also tax payer will be prosecuted. So to avoid such circumstances the scheme can be utilized to disclose black income and come clean. The Article introduce with feature and process of the scheme.

article author CA Chirag Chauhan