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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

CBDT clarifies on taxpayers response to IDS 2016


Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi 15th September 2016 Sub CBDT clarifies unconfirmed reports on IDS 2016 Certain sections of the press have been speculating on the taxpayer response to the currently on going Income Disclosure Scheme

Further instruction regarding Income Declaration Scheme


Instruction No 8 of 2016 F No 142 8 2016 TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi the 15th September 2016 To All The Principal Chief Commissioners of Income tax Sub The Income Declaration Scheme 2016 reg The Income Declaration Scheme 2

CBDT clarifies due date extension also applicable to Accounts audited under sec 44AB


F No 225 195 2016 ITA II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block New Delhi Dated the 14th of September 2016 Clarification req u s 119 of the Income tax Act 1961 dated 9th September 2016 Central Board of Direct Taxes vide order u s 119 o

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Experts Opinions

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

Deferred tax asset/liability


Deferred Tax Asset as on 31 03 2015 63220 Brought forward loss 1 1991 2 187471 Brought forward unabsorbed depreciation 24723 WDV as per companies Act 31 03 2016 58020 WDV as per Income Tax Act 31 03 2016 76880 Depreciation as per Companies Act 31 03 2016 25512 Depreciation as per Income Tax Act 31 0

deferred tax


which are the reasons wher deferred tax occur

Revenue or capital spend


A company spends X amount of money to build a metro station in companies land for convenience of employee commute But station does not belong to company and none of assets and station will be used by public also What is the accounting treatment If possible can you give me reference to IND AS or Guid

Capital or revenue expense


Whether purchase of hand trolley a capital expenditure or revenue for a manufacturing concern

Discussion

Booking of revenue

Dear All during last FY we billed 90 but received 100 we accounted 10 as advance last year end now customer says 10 was adjusted to last SOW PO only so they dont need bill this year Now we have to close their balance sohow we have to book this revenue which ispertaining to last FY year Thanks in adv

Capital or revenue expenditure

Hello CCIites A company spends X amount of money to build a metro station in companies land for convenience of employee commute But station does not belong to company and none of assets and station will be used by public also What is the accounting treatment If possible can you give me reference to

Deferred tax asset/liability

Hi Can anyone brief me what is a DTA DTL alongwith a useful example Thanks Karan

Deferred tax assets/ liablity

if a company is incurring losses during the current year then is there any need to create deferred tax liablity and how it will create and where it will shown in balance sheet

Deferred tax asset

A company has been incurring losses for last 3yrs But there are some signs of improvements Profit losses are as follows Yr1 200 Yr2 100 Current yr 100 Next yr 150 Yr after 500 When should the company recognize a DTA and by how much Journal entries also to be given Anticipating a reply

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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

    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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Articles

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


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 will realize the benefit from a cost is paramount When a cost creates an immediate benefit such as f


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Updated on : 9/29/2016 8:17:16 PM


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