long term capital gain holding period

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Tax collection figures for the period April to December 2016 show a positive trend


Tax collection figures for the period April December 2016 show a positive trend as Direct Taxes grow by 12 01 and Indirect Taxes grow by 25 over the corresponding period last year i e April December 2015 Direct Tax and Indirect tax collection figures for the period April 2016 to December 2016 have s

Old notes returned figures might change says RBI


Clarification regarding Specified Bank Notes SBNs There had been various estimates on SBNs tendered in certain sections We would like to clarify that the periodical SBN figures released by us were based on aggregation of accounting entries done at the large no of Currency Chests all over the country

Year end review of economy for 2016


During the current Financial Year 2016 17 the Indian Economy continues to consolidate the gains achieved in restoring macro economic stability Despite the continuing global sluggishness and recent pick up in petroleum prices the macro economic indicators continue to be robust in the current year Yea

ICAI President's Message - January 2017


My dear professional colleagues Circa 2016 A year that will be remembered in the history of India as a path breaking decisive dramatic period that sought to reinitialise the country towards a digital economy The gradual transformation that commenced with the JAM stack Jan Dhan Aadhar and Mobile and

CPE hours requirements for the block period of 3 years


Extension of last date for compliance of CPE Hours requirement for the year 2016 ending block period 2014 2016 from31stDecember 2016 to 31stJanuary 2017 This is for kind information of the members that it has been decided to extend the last date for complying with the CPE hours requirement for the y

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Experts Opinions

Capitalisation of expense


Registration expenses incurred on registration of Demo Car should be capitalised or should be claimed as revenue expenditure is there any case law

Actions that can be taken against a demand order u/s143(3)


what are the alternative course of actions that an assesse can take against an order u s 143 3 revision petition rectification request appeal to commissioner etc

How much capital in new business


My Brother started new business and open a bank account through cash deposit i wanted to know how much amount he show as a capital through his personal account to newly opened bank account so he had no issue with income tax

i pay to broker against sale. than how to entry.


i explain i sale to customer A 30000 than customer aend me payment 30000 than broker charge me 3 of receipt that amount of Rs 900 so how to entry payment or journal bcz brokerage is indirect expenses and i also want to know what is the head of broker master in accounting software thanks in advance

Holding subsidiary


As per section 2 87 of Companies Act 2013 A subsidiary company is a one in which more than one half of the total share capital of the company is being held by any other company Further as per Rule 2 1 r of the Companies Specification of Definition Details Rules 2014 total share capital consists of p

Discussion

Capital gain

Investment 50 in new house and 50 in NHAi bonds will IT Act permit for avoiding capital gains tax

Capital intro by partner

what would be the accounting entry for the partner introduce capital in a firm and in his personal a c individual in which head the same has to show respectively

Capital gains scheme expert query - urgent

Hi The Capital Gain for one my assessee was Rs 20 Lakh however he has deposited Rs 35 Lakh Entire Sale Consideration in Capital Gain scheme Now he wants to withdraw the funds as he does not want to buy or construct new property The Question is whether the assessee would have to pay capital gain Tax

Tds on expense booked against provision. tds challan

FY 2012 13 AY 2013 14 A company An year end provision Mar 31 2013 was kept for Professional fees as per mercantile system of accounting to get true and fair view of PL Rs 100 Entry Professional fee Expense GL Dr 100 Outstanding Liability Liability Balance sheet GL Cr 100 Expense was duly disallowed

Tds on expense booked against provision. tds challan

FY 2012 13 AY 2013 14 A company An year end provision Mar 31 2013 was kept for Professional fees as per mercantile system of accounting to get true and fair view of PL Rs 100 Entry Professional fee Expense GL Dr 100 Outstanding Liability Liability Balance sheet GL Cr 100 Expense was duly disallowed

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File Download

  • Income tax (1st Amendment) Rules, 2017

    Furnishing of Permanent Account Number or Form 60 as the case may be on or before 28th February 2017 is made mandatory for persons having an account with banking company or a cooperative bank to which Banking Regulation Act 1949 applies 15th January 2017 is the due date for submitting Form 61 where the aggregate of cash deposits between 9th November 2016 to 30th December 2016 is more than two lakh fifty thousand Government has mandated the specified class of persons under Rule 114E to report cash deposits made during the period 01 04 2016 to 09 11 2016 aggregating to an amount exceeding the limits as specified in Sl No 12 of Rule 114E Please find the attached PDF file for details
  • Applicable for CA Intermediate May 2017 Examination

    Portions applicable for CA Intermediate May 2017 Examination
  • Financial Data Management Centre (FDMC) Committee Report

    Financial Data Management Centre FDMC Committee Report
  • PMGKY, 2016 and the Deposit Scheme along with Forms

    This file contains a complete set of PMGKY 2016 PMGKY Deposit Scheme and Forms Prescribed therein All relevant notification until 22 Dec 2016 were appropriately inserted
  • Computation of Capital Gains Tax on Sale of Shares & Mutual

    Computation of Capital Gains Tax on Sale of Shares Mutual Funds

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Articles

Holding 100% control over a company - Section 89 of the companies act, 2013


Companies Act 2013 gives freedom to the Companies to do anything which is legal and in the interest of stakeholders but with the approval of authority or by intimating authority in a manner as may be prescribed by the act In Companies Act 2013 section 89 is the only section which gives a way to a pe


Definition of capital goods under revised GST law


The definition of capital goods has undergone a substantial change in the revised GST Law The definition of capital goods under revised GST Law is given under section 2 19 which states that capital goods means goods the value of which is capitalised in the books of accounts of the person claiming th


Reduction of share capital - Procedure before NCLT under companies act, 2013


On 07th December 2016 Ministry of Corporate Affairs MCA has vide its Commencement Notification notified various sections of Companies Act 2013 which includes arbitration compromise arrangements and reconstruction and winding up companies which has come into force with effect from 15th December 2016


Crux of holding company accounts


INTRODUCTION In this topic our main target is to explore the investment in subsidiary How we will do it First we have to find out the net asset of subsidiary company on the date of acquisition For this purpose we make Analysis of Profit AOP Analysis of Profit AOP It is divided into 2 parts Pre acqui


Government releases Revised Model GST Law along with Draft GST Compensation Bill


With step by step progress towards Goods and Services Tax GST the Country is all set to witness the biggest indirect tax reform of unmatched importance in independent India GSTis a biggest game changing indirect tax reform for Indian economy aimed at undoingInter State barriers to trade in goods and


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Updated on : 1/15/2017 2:31:14 AM


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