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IT Dept pushes additional cases of High Cash Deposits


Income Tax Department pushes additional cases of High Cash Deposits in Second Phase of Operation Clean Money The Income Tax Department ITD has used information received under the Statement of Financial Transactions SFT to identify 5 56 lakh new persons in the second phase of Operation Clean Money OC

Clarification on tax in reverse charge on gold ornaments


Further clarification on tax in reverse charge on gold ornaments Sale of oldjewellery by an individual to a jeweller will not make the jeweller liable to pay tax under reverse charge mechanism on such purchases However if an unregistered supplier of gold ornaments sells it to registered supplier the

Show Cause Notice issued to 5,922 Associations for cancellation of FCRA registration


As a one time measure all associations were given an opportunity by way of a Public Notice uploaded on fcraonline nic in on May 12 2017 requiring the associations to file their missing Annual Returns pertaining to FY 2010 11 to 2014 15 within a period of one month time starting from May 15 2017 to J

New taxpayer service Aaykar Setu launched


FM launches a new tax payer service module Aaykar Setu that compiles various tax tools live chat facility dynamic updates and important links to various processes within the Income Tax Department in a single module Says that this e initiative would not only provide better taxpayer services but would

GST rate for Sanitary Napkins


There are some remarks made by various column writers on GST rate on sanitary napkins It may be mentioned that the tax incidence on this item before and after GST is the same or less Sanitary napkins are classifiable under heading 9619 In pre GST they attracted concessional excise duty of 6 and 5 VA

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Experts Opinions

tax audit in gst


my manufacturing unit turnover is 3 to 4 crore is tax audit is required and who wll do tax audit

Tax audit


Sir An individual is a partner in 2 firms which are in tax audit he is also a proprietor of his own business which have gross receipts of 67 lakhs now I wud like to know if his proprietorship automatically cums under tax audit because he is a partner in a firm which is under tax audit

Doubt for income tax rate


Can any tell me what the effective Tax rate of income tax for Domestic company for FY 2016 2017

Tax rate for fy 2016-2017


Can any tell me what the effective Tax rate of income tax for Domestic company for FY 2016 2017

Property tax


if we pay property tax to a municipal department then what entry should pass and in which head property tax need

Discussion

format of bill

if a person doesn t required to register under GST what should be the format of bill

Income tax refunds

Even after posting of special officers in grievance cell and all the refunds are delayed for want of proper sanctions by the dealing assessment officials It appers that the dealy is due to complete appreciation of e gvernance systems and procedures They all have a mindset only to work with manul sys

required reply

sir there is query we are registered in Delhi we are work contracts shall we have to take registration for Haryana also if we want to supply in Haryana can we make bill to client at igst

REGULAR TAX ON CLOSING STOCK HOW SHOULD PAY OR NOT.

A REGULAR REGISTERED TRADER IN VAT HAS A TAXABKE CLOSING STOCK WORH RS 15 00 000 AS ON 30 6 17 OUR OF INTERSTATE PURCHASE NOW HE WANT TO OPT COMPOSITION SCHEME FROM 1 JULY THEN HOW HE WILL SALE TAXABLE CLOSING STOCK IN COMPOSITION SCHEME PLEASE EXPLAIN AND CLEAR IT

Income tax liability of trust

Hi We have a trust which owns a building In the initial years we ran a college out of this building offering PG courses However due to lack of students we shut down this college Now from this year onwards we have rented out this building to another university They will be using the building for educ

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Goods and Service Tax (GST) - Returns


Returns mechanism under in GST regime includes electronic filing uploading of invoice details and auto generate of Input Tax Credit ITC details from suppliers Returns Goods and Services Tax is payable by taxable person on self assessment basis like under Income Tax Act 1961 A registered person needs


Reverse Charge Mechanism - Reverse gear of tax burden


A Introductory provisions of reverse charge under GST Law In terms of section 9 1 of Central Goods and Services Tax Act 2017 Central Goods and Services Tax CGST shall be levied on all intra state supplies of goods services or both except the supply of alcoholic liquor for human consumption In terms


Changes in Income Tax Return Forms A.Y. 2017-2018


Changes in Income Tax Return Forms A Y 2017 2018 Introduction of newSINGLE PAGE ITRForm 1 Sahaj This initiative will benefit more than two crore tax payers who will be eligible to file their return of income in this simplified Form The number of Income Tax Return Forms AY 2017 18 FY 2016 2017 has be


How to easily pass CA IPCC Taxation


For most of the IPCC students Paper 4 Taxation is a troublesome subject in the exams However I would like to tell you that this is one of the scoring subjects and you can easily make it How do I tackle this subject Beginning First of all start your preparation early Since CA IPCC Taxation is a volum


GST - Input Tax credit


Mr A Good Day Sir how are you CA Hi Mr A I am doing fine how about you Mr A I am doing fine sir Under transition I understand now that how can I carry forward my input tax credit but if under GST regime I am a small trader and after sometime I need to register under GST then how can I take my input


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Updated on : 7/17/2017 9:14:16 PM


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