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Due date of wealth tax return extended to 31st August


F No 328 08 2015 WT Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi dated the 27thJuly 2015 To All Pr Chief Commissioners of Income Tax Subject Ex

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Cost inflation index for 2015-16 is 1081


TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART II SECTION 3 SUB SECTION ii GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES NOTIFICATION INCOME T

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India and US sign agreement to promote transparency in tax matters


Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi 9th July 2015 Sub United States and India Sien Agreement to Share Tax Information U S Ambassador t

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Conditions for digitally signed invoices in excise and service tax


Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Notification No 18 2015 Central Excise N T New Delhi the 6thJuly 2015 G S R E In pursuance of sub rule

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Clarifications on Tax Compliance for Undisclosed Foreign Income and Assets


Circular No 13 of 2015 F No 142 18 2015 TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes TPL Division Dated 6th of July 2015 Clarifications on Tax Compli

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Experts Opinions

Difference between deferred tax & mat credit


SIR MY MAIN QUESTION IS THAT DEFERRED TAX ASSET LIABILITY INCLUDE THE ITEAMS WHICH ARE USED FOR MAT CALCULATIONS SO CREDIT IS COMING DOUBLE FOR SOME ITEAMS TWO TIMES EXAMPLE DEPRECIATION

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Deferred payment liability


Dear All Please guide if a company transfer a creditor account to Deferred Payment Liability in Long Term Borrowings What will be the accounting implications

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Reversal of revenue expenditure


co purchased computers in last financial year and payment made to vendor is transferred to PL as Computer Maintenance Charges Now can co reverse this and capitalise to fixed assets

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Query on capital expenditure


Hi I work in a NGO My organization made capital expenditure few months back How could I help the management in reporting the return on capital is ROI or ROCE is the only financial ratio to measure the

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Capital exp. v/s revenue expenditure


Dear sir One of my client which is a trust while allowing expenses reimbursement from state govt is treating license royalty amount paid for using windows 8 for life time is treating this expenditure

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Discussion

Ngo QUERY- evaluting and assessing capital expenditure

Hi I work in a NGO My organization made capital expenditure few months back How could I help the management in reporting the return on capital is ROI or ROCE is the only financial ratio to measure the

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Revenue recognition

Dear member I have one query with regard to revenue recognition Assesse being a branch office of the Principal company Located outside India and undertake the sales activity with regard to Software mo

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Revenue recognition for contractee

A Contractee has paid Advance to contractor for building residential complex But bill is not raised by the contractor Now my question is how to recognise construction chargesin the books of contractee

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Cash expenditure - for medical treatment

If company empolyee has been admitted and company pays more than Rs 20000 in cash to hospital for medicle treatment of said employee is it allowable expenditure

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Deferred tax

Can anyone plz tell why there is difference in amount of deferred tax assets liability if we calculate it on WDV basis or on Amount of Depreciationbasis and which method is correct or preferred Please

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  • Revenue and Capital Expenditure

    Companies incur costs to acquire resources that will be used in operations to generate profits Every cost creates either an immediate benefit or a future economic benefit Determining when the company will realize the benefit from a cost is paramount When a cost creates an immediate benefit such as fuel used in delivery vehicles the company records the cost in the income statement as an expense When a cost creates a future economic benefit such as purchase of delivery vehicles to deliver the goods

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  • Revenue Recognition Standards : AS 7&9, IAS 11&18

    Wonderful pictorial representation of all the paras

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  • Guidance Note on Accounting for CSR Expenditure

    Guidance Note on Accounting for CSR Expenditure

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  • Guidance Note on Accounting for Expenditure on CSR

    Guidance Note on Accounting for Expenditure on Corporate Social Responsibility Activities Issued May 15 2015 ICAI

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  • Tax Benefits Due to Life Insurance Policy, Health Insurance Policy and Expenditure on Medical Treatment

    TAX BENEFITS DUE TO LIFE INSURANCE POLICY HEALTH INSURANCE POLICY AND EXPENDITURE ON MEDICAL TREATMENT

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Articles

Revenue or Capital Expenditure


Companies incur costs to acquire resources that will be used in operations to generate profits Every cost creates either an immediate benefit or a future economic benefit Determining when the company


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Service tax on reimbursable expenditure - Paradox rejuvenated


INTRODUCTION Incurring of reimbursable expenditure by service provider during the course of providing his services and service receiver subsequently reimbursing them is the inevitable business expedie


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Agriculture Income and Expenditure, etc more details asked in New ITR


Karneeti Part 104 Agriculture Income and Expenditure etc more details asked in New ITR Arjuna Fictional Character Krishna in last week Income Tax Department has issued forms for filling Income Tax Ret


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Eligible activities for Corporate Social Responsibility (CSR) expenditure


Activities which are eligible for CSR expenditure in pursuance of Schedule VII of the Companies Act 2013 are as follows 1 Eradicating hunger poverty and malnutrition promoting preventive health care a


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Deduction of expenditure incurred for exempt income if taken will land in trouble


Karneeti Part 88 Deduction of Expenditure incurred for Exempt Income If taken will land in trouble Arjuna Fictional Character Krishna expenditure incurred in relation to exempt income is a controversi


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Updated on : 7/30/2015 12:09:11 AM



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