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Detection of black money by Government

Recognizing various limitations under the existing legislation Income tax Act 1961 etc the Government enacted a new law The Black Money Undisclosed Foreign Income and Assets and Imposition of Tax Act 2015 to specifically and effectively tackle the issue of black money stashed away abroad This has in

Clarification regarding threshold Limit of tax audit under section 44AB and 44AD

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi the 20th June 2016 Sub Threshold Limit of tax audit under section 44AB and section 44AD clarification regarding Section 44AB of the Income tax Act the Act makes it obligatory for every person carryi

CBDT- E-filing of appeals extension of time limit

CBDT E filing of appeals Extension of time limit PFA the enclosed attachment to view in PDF form

Big Boost to Ease of Doing Business- Passing of Bankruptcy Code

Big Boost to Ease of Doing Business Passing of Bankruptcy Code Code is a comprehensive and systemic reform which will give a quantum leap to the functioning of the credit market and would take India from among relatively weak insolvency regimes to becoming one of the worlds best insolvency regimes V

CBEC takes Litigation Management and Dispute Resolution measures

CBEC takes Litigation Management and Dispute Resolution measures Field formations file applications for withdrawal in 980 and 2174 cases in High Courts and CESTAT respectively as per the new threshold monetary limits prescribed Out of this High Courts allow withdrawal in 250 cases and CESTAT in 202

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Experts Opinions

Exemption limit

please reply this question disclosed assets liabilities taxable income more 50 lacs on line return filing is mandatory if GTI more than 5 lakh tax rebate of rs 5000 if taxable income is up to 5 lacs is correct and specially wording of taxable income or gross taxable income

Is sold back good to creditors on behalf of his payment

A proprietorship firm purchase goods on paper from another proprietorship firm now that firm deny for account adjustment what advise i ll give to save that person

Section 92E ; Buying from International eBay in $ using credit card

If a electronic equipment is bought by a sole proprietor from Alibaba or international Ebay Will it come under provisions of section 92E under international transaction Would he be liable to submit Form 3CEB if the equipment bought is for 1 Personal purpose 2 Business purpose Kindly answer

Wether credit on outward transportion is admissible ?

Dear Expert service tax on GTA service availed by the Assesses for outward transportation of the goods from the factory to the customer is admissible or not Thanks

Late audit, penalty for a private limited company.

Hello Sir Madam I got registered for a private limited company in 2014 but ca did nothing after that Unfortunately I could not do anything till now so there is no business no meeting no employees no audit Only service tax filing is clear I want to know that how much could be penalty and all that It


Gta service tax credit admissibility on outward freight depot transfer

Dear Sir In the case of clearance of goods to depot which is not registered under excise whether we can avail such credit in such situation also Please explain Please give us any references regarding this Thanks regards Pravin

Credit can be availed on gta outward freight i.e.depot trf

Dear Sir Please explain in the case of clearance of goods to depot which is not registered under excise whether we can avail such credit in such situation also Please explain Please give us any references regarding this Thanks regards Pravin

Cenvat credit taken in the excise can be utilize in ser tax?

Whether CENVAT Credit taken on excise duty can be utilised in Service tax or vice versa for exapmle If I have Excise Regd but does not have Ser Tax Regd can I be able to take Cenvat Credit on Service Received or vise versa also if i have both excise service tax regd how can I show this credit system

Use of personal credit card for the company purpose

Director of a Pvt Ltd Company is using his personal credit card for the company purpose to the extent of 95 please suggest if he can claim Credit Card charges and Service Tax in companies books And in such a case the benefits earned on the card say rewards also to be accounted in companies books or

Input vat credit

In Gujarat VAT 4 of local purchase disallowed from input VAT credit proportionate to branch transfer ratio to total sales Suppose I have purchase of 15 12 5 2 5 VAT its ok I want to know if I have purchase of 5 4 1 VAT than also 4 of proportionate local purchase will be disallowed Because in this ca

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Understanding the GST Model Law- Input Tax Credit

This is the seventh in the series of proposed articles on the GST Model law The purpose is mainly to create awareness and enable one to look at the unintended impact as maybe applicable for each sector person It could also aid in representation needed for amendment of the Model GST Law to make it ta

Grey areas - Cenvat credit on Krishi Kalyan Cess (KKC)

In budget 2016 17 the Government has introduced a cess called as Krishi Kalyan Cess KKC which will be used for financing and promoting agricultural sector KKC will apply at the rate of 0 5 on value of taxable services rendered on or after 1 6 2016 Unlike Swachh Bharat Cess SBC the Government has mad

Cenvat Credit on Construction, Repairs & Works contract Services

Introduction Cenvat Credit is a beneficial scheme wherein the duty paid at earlier stage on inputs and input services is allowed to be set off against the liability on manufactured goods or output services provided As a result what is taxed is only the value addition made by the manufacturer or the

Applicability of companies act, 2013 based on limits

adsbygoogle window adsbygoogle push Sr No Provision under Companies Act 2013 Applicability of Provision Non Applicability of provision 1 XBRL General Circular No 16 2012 Dated 06 07 2014 a All companies LISTED with any Stock Exchange s in India b Subsidiaries of any Company Listed with any Stock Exc

Pre-registration credit for manufacturers and service providers

Background In order to start new business operations in any sector the project costing has to factor in the indirect taxes Basic Customs Duty BCD Excise duty and Countervailing duty CVD 3 Customs Cess and 4 Special Additional duty SAD are paid on materials machines equipment procured Also service ta

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Updated on : 7/31/2016 10:13:11 AM


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