deferred revenue expenditure

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Four Advance Pricing Agreements signed by CBDT


Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi 7thFebruary 2017 Another Four Advance Pricing Agreements signed by CBDT The Central Board of Direct Taxes CBDT has entered into four more unilateral Advance Pricing Agreements APAs on 6th February 2

CBDT issues third round of Certificates of appreciation to tax payers


Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi 7th February 2017 CBDT issues third round of Certificates of appreciation to tax payers for their contribution towards Nation building In continuation of the initiative of the Government to acknowle

Disallowance of depreciation on capital expenditure made in cash


Under the existing provisions of the Act revenue expenditure incurred in cash exceeding certain monetary threshold is not allowable as per sub section 3 of section 40A of the Act except in specified circumstances as referred to in Rule 6DD of the Income tax Rules 1962 However there is no provision t

Limits reduced to Rs 10000 from 20000 for cash expenses u/s 40A(3)


Measures to discourage cash transactions The existing provision of sub section 3 of Section 40A of the Act provides that any expenditure in respect of which payment or aggregate of payments made to a person in a day otherwise than by an account payee cheque drawn on a bank or account payee bank draf

Changes proposed in Service tax by Budget 2017


F No 334 7 2017 TRU Government of India Ministry of Finance Department of Revenue Tax Research Unit Amitabh Kumar Joint Secretary Tax Research Unit Tel 011 23093027 Fax 011 23093037 E mail amitabh kumar nic in D O F No 334 7 2017 TRU New Delhi dated February 1st 2017 Dear Madam Sir Subject Union Bud

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Experts Opinions

Deferred tax assets and liabilities


Can someone please explain me the concept of Deferred Tax Asset and Liability in simple understable terms

Medical expenditure & Medical Reimbursement


Kindly clarify whether Medical Expenditure of Rs 30000 u s 80D along with Medical Reimbursement exemption if Rs15000 u s 17 2 for salaried person is eligibly for deduction simultaneously

Deferred tax


Deferred tax in case of MAT is paid Can we consider tax as per IT profit or tax as per MAT for current tax while computing deferred tax Tax as per p l a c 450000 Tax as per IT profit 45000 Tax as per MAT 65625 Then deferred tax liability Refer CA final FR suggested answer Nov 2016 Q 7b

Income tax on reimbursement of medical expenditure


Sir One of the organisation implemented post retirement medical scheme from 01 04 2016 under this scheme who retirement person eligible for out pa intent Amount Rs 18 000 In pa intent Amount Rs 15 0000 As per income tax Section 17 2 Exempted Rs 15 000 This applicable to Retired persons or not Please

CSR Expenditure


my company is making donation of 20 00 000 under a MOU signed between smile foundation and my company and claiming exemption under section 80 G of ITC can it be treated as CSR expenditures

Discussion

Revenue recognition

Could you please look in to and clarify the doubt A real estate property 33 completed has been acquired by our company for Rs 1 crore We have paid them Rs 25 lakhs in cash consideration and balance in units flats rooms in project Do we need to recognize the contract income in the year of transfer of

Diff between education allowances and expenditure

what is the diff between education allowance u s 10 14 and tuition fee u s 80c we will claim exemption under both sect or under any one section

Csr expenditure it allowance

Is it possible to claim deduction under 35 CCC for the expenses incurred for CSR related to agricultural extension

revenue audit

Hello everyone Is there anyone to explain me the purpose of revenue Audit or the procedure of doing it Otherwise send me link or PDF of it

Revenue recongnition on delayed payment charges by supplier

Hello I had a query as to when to treat revenue in the following case Mr A sold goods to Mr B for Rs 10 00 000 on credit of 1 month Mr B however delayed the payment and thereby Mr A issued a debit note of Rs 15000 to Mr B Mr B have paid the sum of Rs 10 00 000 but have not paid Rs 15 000 The questio

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Articles

GST rollout deferred to 1st July,2017


16 01 2017 is a significant milestone and breakthrough for GST in India The Centre and the states reached a consensus on the dual control issues on Monday i e 16 01 2017 preparing ground for the rollout of the biggest tax reform from 1 July as said Finance Minister Arun Jaitley The states would do 5


ST burden can be passed on by agreement but revenue cannot be asked to wait for recovery of tax dues


Delhi Transport Corporation Vs Commissioner Service Tax TS 411 SC 2016 ST Recently the Honble Supreme Court has dismissed the review petition filed by the Delhi Transport Corporation the Petitioner or DTC against ruling of the Honble High Court of Delhi in the case of Delhi Transport Corporation Vs


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


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Updated on : 2/18/2017 6:52:11 AM


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