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deferred revenue expenditure


Due date for filing IT return extended in Jammu & Kashmir

F No 225 195 2016 ITA II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block ITA II Division New Delhi 18thOctober 2016 Order under Section 119 of the Income tax Act 1961 In order to mitigate the difficulties being faced by the taxpayers in the Sta

Indirect tax collection shows a jump of 25.9%

Indirect Tax Collections up to September 2016 show an increase of 25 9 over the net Indirect Tax collections for the corresponding period last year 2015 16 Net revenue collections up to September 2016 stood at Rs 4 08 lakh crore which is 52 5 of the Budget Estimates of Indirect Taxes for Financial Y

Revised Monetary Limits for adjudication of Show Cause Notice in Central Excise and Service Tax

Circular No 1049 37 2016 CX F NO 267 40 2016 CX 8 GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE AND CUSTOMS New Delhi dated the 29thSeptember 2016 To All principal Chief Commissioners Chief Commissioners of Central Excise Service Tax Principal Director General

Service Tax Return Form ST3 has been amended

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART II SECTION 3 SUB SECTION i Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs New Delhi the 28 September 2016 6 Asvina 1938 Saka Notification No 43 2016 Service Tax G S R E In exercise of the po

Certificates will be issued to individual taxpayers

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Sub Finance Minister conveys Governments Appreciation to tax payers for their contribution towards Nation building The Government acknowledges the contribution of individual tax payers in paying taxes within

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Experts Opinions

Allowability of expenditure

Dear Experts Pls clarify weather following Expenses are allowed in income tax Or not 1 salary paid to gardner for maintaining garder 2 Pooja Exp payment made to pujaari toward pooja Thanks Vivek Gupta

Car insurence is revenue or capital exp.

Dear Experts I have shown car in assets and i have paid Rs 5670 for this car insurence please clarify weather this car insurence is revenue or capital expenses Regard Sunil

Revenue Audit Report

Dear Experts Im doing revenue Audit for health care company Need to submit the report to management Can any help by sharing the format of revenue Audit report Thanks

Revenue Audit Report

Dear Experts Im doing revenue Audit Report for an health care BPO company I have done the auditing and found lot of discrepancies I would like to present the audit report to their management kindly help me in this regard and share me the revenue Audit Report format as soon as possible Thanks in adva

quarterly inspection charge for revenue leakage

If branch has not conducted quarterly inspection then can we show those borrowers name in revenue leakage list for deducting inspection charges please guide me sir


Amc revenue accounting treatment as per indian gaap

1 In AMC invoicing customer is demanding 100 Tax Invoice while we are ready to give Pro forma Invoice So what will be the accounting treatment if we raise 100 Tax invoice as per customers demand should our Sales to be booked 100 than to pass the JV to move in deffered revenue laibility and on comple

Dept. of Revenue Intelligence (DRI) makes seizure of about Rs 12.91 crore

Department of Revenue Intelligence DRI makes seizure of about Rs 12 91 crore including 21 kg Gold worth Rs 6 47 crore and Indian Currency notes worth Rs 6 44 crore The Delhi Zonal Unit DZU of the Directorate of Revenue Intelligence DRI Ministry of Finance seized 20 64 kilogram gold and Indian curren

Deferred tax treatment

Hello I am calculating deferred tax treatment company has substantial losses for previous year I want to know that while calculating deferred tax current year loss to be considered or not or previous year losses only considered

Deferred Tax

what is deferred tax liability and deferred tax asset Kindly help me

Allowability of personal expenditure

Hi everyone Whether any expenditure of Additional Director which is allowable as per the Employment Agreement but not allowable as per Section 37 of the Income Tax Act Is there any case law in which it is allowable under Income Tax Act

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File Download

  • Income and expenditure statement

    For making balance sheets and income and expenditure statements for small business A simple file
  • How to capitalise in a sap or how to raise pr in sap

    how to capitalise in a sap or how to raise pr in sap
  • Circular on Section 14A

    CBDT notifies amended Rule 8D for computation of disallowance u s 14A clarifies that amount of disallowance as computed under Rule 8D shall not exceed total expenditure claimed by the assessee Deletes sub clause ii in Rule 8D 2 which dealt with computation of expenditure towards interest not directly attributable to any particular income receipt as per the prescribed formula Increases the rate to be applied on annual average value of investments from 0 5 to 1 Amended Rule shall come into force on the date of its publication in the Official Gazette CBDT
  • Schedule II with Capital & Revenue Expenditure

  • IND AS 2-Inventories

    The objective of this Standard is to prescribe the accounting treatment for inventories A primary issue in accounting for inventories is the amount of cost to be recognised as an asset and carried forward until the related revenues are recognised This Standard deals with the determination of cost and its subsequent recognition as an expense including any write down to net realisable value It also provides guidance on the cost formulas that are used to assign costs to inventories http praveentawania com file details php title IND 20AS 202 Inventories

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GST Council mulls four rate slabs and 14% revenue growth assumed for States

The objective is that the rate structure should not lead to any further retail inflation The Centre and the States should have adequate revenue and it should also put the least possible burden on the taxpay Shri Arun Jaitley Honble Finance Minister Moving swiftly on the road to formalising the bigge

Deferred tax analysis

The concept of Deferred Tax is not a simple to understand and many get confused while applying it in the books So we shall try to go through simple and lucid manner to understand the whole concept and its application in the books through entries The word Deferred is derived from the word Deferments

Deferred Tax Introduction

Deferred tax When we look out for the meaning for Deferred it means to Postpone or delay Similarly deferred tax is also liability to pay tax in future that we have postponed and have to reflect in our balance sheet With coming of financial year end and closing of books of accounts we have to calcula

Goods & Services Tax (GST): Revenue Neutral Rate of Tax

Introduction of GST is an important step in the direction of much awaited tax reforms With the passage of the Constitution Amendment Bill 2014 for in May 2015 Government is now all set to implement Goods and Services Tax GST by April 2016 subject to the Bill being passed by the Upper House of Parlia

Overview of tax implication of CSR expenditures

Introduction 1 1 1 The Finance Act 2014 has brought a very radical far reaching amendment asfar as CSR expenditures are concerned 1 1 2 There was a lot of expectation that as a corollary to the CSR related amendmentin the Companies Act there will be a corresponding amendment in the IncomeTax Act 196

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Updated on : 10/22/2016 3:35:18 AM


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