Hindu Undivided Family(HUF) - A fresh perspective with important & recent case laws:Background:U/s 4 of the Income Tax Act, 1961 income tax is payable by -every person-. U/s 2(31), Person is defined to include a Hindu Undivided Family

Posted in Income Tax  0 comments |   290 Views

The Union Budget, 2016, has introduced number of measures for reducing litigation and providing certainty in taxation, considering the same as one of the key thrust are

Posted in Union Budget  0 comments |   177 Views


Posted in Others  0 comments |   277 Views

Section 206CTax Collected at Source:-TCS is the Tax Collected at Source by the seller (collector) from the buyer(collectee)-. Every person, being a seller, shall collect tax at source (TCS) from the buyer of goods specified in section 206

Posted in Service Tax  4 comments |   930 Views

The Place of Provisions of Service (POPS) Rules, 2012 is the thin line which divides taxability and non-taxability under the Service Tax Law. These rules were aimed to consolidate the endlessly dispute on the Export of Services and Import of Service

Posted in Service Tax  0 comments |   62 Views

Don't miss the early morning charm

  Nimish Goel    24 May 2016 at 10:49

Today morning at 6.30AM when I was jogging in the ground near my house, I found the old age group starting little early today. This motely group of people above 65 years is quite regular in the morning. They all do their exercises together by stand

Posted in Career  3 comments |   374 Views

All about Controls

  Mandar    24 May 2016 at 10:49

BackgroundThere are number of legislative regulations and rules that have been enacted in order to improve the corporate governance environment in India. Corporate monitoring and accountability plays a pivotal role when any business, legal or ethical

Posted in Corporate Law  0 comments |   196 Views

How GST will be helpful to companies & India-s Economy GST will be helpful to eliminate the taxation problem at the root level and give a big boost to the e-commerce sector that is still at a crescent stage and has the potential to give a

Posted in Others  1 comments |   234 Views

BackgroundA group company could procure resources such as server space, software licenses, office space and various other facilities from vendors. When a company say Co Aof Karnataka procures such

Posted in Service Tax  0 comments |   121 Views

There are certain rules applicable to everything we do in our daily lives. The whole idea behind this belief is to fetch the maximal benefits, along with guarding ourselves from any kind of associated risks.In that respect, our personal finance manag

Posted in Others  0 comments |   83 Views

Union budget 2016-17 has introduced levy of excise duty on making of jewellery. With the levy, jewellers feared that the -Inspector rajya- would be back and this fear led to a widespread outrage among the jewellers for non acceptance of l

Posted in Excise  1 comments |   1666 Views

Impact of Krishi Kalyan Cess- Service TaxCA Madhukar N.Hiregange & CA Roopa NayakIntroductionService tax rate has been proposed to increase from 14.50% to 15% effective from 1st June 2016.It is also clear that till 1.6.2016, service tax shall con

Posted in Service Tax  5 comments |   3335 Views

ORDERS ISSUED BY MCA DATED 18.05.2016 REGARDING APPLICABILITY OF SPECIAL COURTSMCA has issued an order on 18.05.2016 clarifying the commencement of section 2(29), sections 435 to 438 and 440 of Companies Act, 2013.The notice states that:"S.O....

Posted in LAW  0 comments |   1457 Views

Q1.(a) Divine Ltd. manufactures product K which is a notified product under Section 4A of the Central Excise Act, 1944. The output for the month of October, 2015 was 8,000 units out of which 6,000 units were consumed captively. Abatement permissible

Posted in Students  0 comments |   4944 Views

A STUDY ON INCOME DECLARATION SCHEME 2016The scheme is basically brought as a last opportunity to declare black money and the wealth to see a black money free economy in our country in the coming time. The scheme proposes reasonable taxation of 45 %

Posted in Others  1 comments |   2687 Views

Refund of SAD

  Baqar Abidi    20 May 2016 at 11:27

The intention of levying Special Additional Duty (-SAD-) of Customs also known as Counter Value Duty (-CVD-) U/s 3(5) of the Custom Tariff Act is to encourage domestic market and counter balance local sales tax/ Value Added Ta

Posted in Custom  6 comments |   2797 Views

Indian Economy Developing or Declining

  Kishore    20 May 2016 at 11:27

In generally incremental GDP may give a notion that economy is growing healthily. However there is no principle stating to consider as economy is growing healthily. To understand whether GDP increase indicates th

Posted in Others  8 comments |   1304 Views

Audit of books of educational institutions i.e. Schools, Colleges, Universities etc is known as audit of educational institutions. This type of audit comes under the category of special audit.Generally, the procedures for auditing is same like other

Posted in Audit  5 comments |   2445 Views

1. IntroductionOne thing which every shareholder across various Companies would dream for is receipt of Bonus shares. The word -Bonus- has a very positive connotation, implying something extra or some gains at no cost. Issue of bonus sh

Posted in Others  5 comments |   2149 Views

The Value Added System of Taxation of Goods was introduced in order to address the issue of multiplicity of taxes and cascading effect of such taxes in the transaction chain. In the erstwhile single point taxation, goods which underwent any manufact

Posted in VAT  0 comments |   1711 Views

Updated on : 24/05/2016 19:06:00

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