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deferred revenue expenditure

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Extension of date of filing return in J&K to 30.09.2016


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 the 26th of August 2016 Order under Section 119 of the Income tax Act 1961 On consideration of reports of dislocation of general life in certain

Revenue secretary reviews IT preparedness for smooth roll out of GST


Revenue Secretary reviews IT preparedness of the various stakeholders for smooth roll out of Goods and Services Tax A meeting was held today under the Chairmanship of Revenue Secretary Dr Hasmukh Adhia to review the IT preparedness of the various stakeholders for smooth roll out of Goods and Service

Further clarification issued on the Income and Declaration Scheme


Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Subject The Income Declaration Scheme 2016 Rule amendment and issuance of FAQ The Income Declaration Scheme 2016 the Scheme provides an opportunity to persons who have not paid full taxes in the past to come

Income Declaration Scheme (Second Amendment) Rules, 2016


MINISTRY OF FINANCE Department of Revenue CENTRAL BOARD OF DIRECT TAXES NOTIFICATION New Delhi the 12th August 2016 S O 2705 E In exercise of the powers conferred by sub section 1 and sub section 2 of section 199 of the Finance Act 2016 28 of 2016 the Central Board of Direct Taxes makes the followin

Direct and indirect taxes grows by over 24 and 29% respectively


Indirect Tax Collections up to July 2016 indicate net revenue collections of Rs 2 71 719 crore as compared to Rs 209217 crore in the corresponding period last year and thereby registering an increase of 29 9 over the corresponding period 34 9 of the Budget Estimates of indirect taxes for FY 2016 17

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Experts Opinions

Revenue or Capital?


Indian co purchased fixed assets from chinese co located in China The original bill received is in Chinese language Indian co incur 5 lakhs for conversation of Chinese language to Indian language What is the treatment of 5 lakhs Is it revenue or Capital

Revenue or Capital?


Indian co purchased fixed assets from chinese co located in China The original bill received is in Chinese language Indian co incur 5 lakhs for conversation of Chinese language to Indian language What is the treatment of 5 lakhs Is it revenue or Capital

deferred tax liability


how to calculate deferred tax liability for companies

Deferred tax asset/ liab calculator(excel) for fy15-16


I am in requirement of Deferred Tax Asset Liability calculator in detail for FINANCIAL YEAR 2015 16 with inbuilt formulae which is easy to use and understand Thank You

Deferred tax liability on loss making company


Should we calculate Diferred Tax Asset or Liability based on Depreciation value etc in case of a LOSS MAKING COMPANY Pls reply urgenty

Discussion

Calculation of capital gain and deferred tax

A company X Ltd has a vehicles block amounting to 590000 Gross Value of which its WDV is 200000 as on 31 03 2015 During the year it has sold the car on 21 03 2016 for 280000 the company purchased a car on 24 03 2016 for 1000000 So as on 31 03 2016 the block has a value of 782000 net of depreciation

Unrequired bills expenditure

Respected Forum What are the expenditures that does not require supporting bills and also what is the limit for each expenditure in an accounting year

Repair expenditure incurred on property held as investment

If the company incurs repairs maintenance on its property held as investmentwill the expediture be allowed as an expense

Different source of revenues

Sir I am woking asSeniorAccounts Exe I look after Indusival Files every year i show a profit in my around Rs 9 00 000 sources are Rent Interest Commession For this year i want to show profit around Rs 15 00 000 so i need some more sources of Income to in my books can any body help me

Revenue Secretary and Senior Officers of Department of Revenue and CBEC hold Sectoral Meetings with various stakeholders on GST

Revenue Secretary and Senior Officers of Department of Revenue and CBEC hold Sectoral Meetings with various stakeholders on GST in order to understand and address the apprehensions and concerns of the stakeholders about important aspects of GST Continuing with its commitment to the early and smooth

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  • 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
  • Super Summary AS-9

    Super Summary PT on Accounting Standards for Quick Revision

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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 : 8/30/2016 11:32:11 PM


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