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Framework for computation of book profit for the purposes of levy of MAT


Framework for computation of book profit for the purposes of levy of MAT under section 115JB of the Income tax Act 1961 for Indian Accounting Standards Ind AS compliant companies A Committee had been constituted with the approval of the Finance Minister to suggest the framework for computation of bo

Next steps required on GST


Revenue Secretary s presentation on next steps required on Goods Services Tax PFA the enclosed file for more details

Tax exemption to industry and commerce sectors


Direct Tax Various tax concessions in the form of exemptions deductions etc have been provided under the Income tax Act 1961 which have been availed by different sectors of Commerce and Industry also Cumulative figures of revenue impact of direct tax incentives for the last five years are as follows

Applicability of Income Computation and Disclosure Standards


Applicability of Income Computation and Disclosure Standards notified under section 145 2 of the Income tax Act 1961 from Assessment Year 2017 18 The Central Board of Direct Taxes has vide Press Release dated 6 07 2016 For copy click here clarified that the Income Computation Disclosure Standards sh

ICDS to be applicable from 1st April 2016


Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi 6th July 2016 Subject Applicability of Income Computation and Disclosure Standards ICDS notified under section 145 2 of the Income tax Act 1961 Vide Notification No SO 892 E dated 31st March 2015 Ce

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Experts Opinions

Omission/rectification of security deposit


Need help How to adjust a part of electricity department security deposit amount falling under current liability which was recorded as expense 10 years ago in the book of company Our deposit is 508000 but only 480000 is shown Difference was either omitted or record as electricity expenses in 2005 an

When noice under section 156


in which condition notice under 156 is issued under income tax

deduction of long term capital gain under section 54


To claim deduction of LTCG on sale of residential house by investing the amount of capital gain for purchase of residential house or plot in the of assessee son Can assessee claim deduction u s 54

Excess payment of education cess under section 192b


Dear Sir We paid 30 education Cess instead of 3 Can we adjust this excess payment with next payment of Income tax Can Excess Edu cess Payment will be adjusted with basic income tax and education Cess How we can adjust this excess payment in Salary TDS Return Kindly Response urgently

sec 5 competition act


what is the revised limit of combinations under competition act

Discussion

Companies act,2013 sections

Does anyone has list of all sections of Companies Act 2013

Securing 75 marks in IDT at CA Final

This is my 1st article on this forum The objective is solely to guide the students towards the right path and to thank Yogendra Bangar sir for this awesome text book of IDT which guided me throughout this whole journey and made me able to secure 75 marks in Indirect Tax laws at CA Final level Dear f

Tds applicability section

Dear all I wanted to know that which section of Income Tax Act 1961 deals with Applicability of TDS

Tds applicability section

Dear all I wanted to know that which section of Income Tax Act 1961 deals with Applicability of TDS

Section 194da

Can I claim refund of TDS deposited by LIC under section 194da

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Extract of postmortem of Section 44AD?


Dear All Section 44AD talks about presumptive taxation scheme under which an eligible assessee engaged in an eligible business can declare his profits gains minimum of 8 of turnover or gross receipts If he opts for the same then he need not to maintain books of accounts not liable for advance tax pa


How to pass CA final in second attempt?


Well I know no student would ever like to pass CA final in a subsequent attempt but what if a student fails in his her 1st attempt As we all know results of finals usually come in single digit or sometimes double digit There will be students who will not clear final in their 1 attempt so for them th


Career in Banking Sector : Life, Salary, Growth


We all know that Banks are considered as the backbone of any countrys economy In India Bank Job is considered as most sought job Getting a bank job is a matter of prestige especially in a government sector bank Life in a Banking Sector You can enjoy your personal life while working in banks You can


Section 115-UB Tax on income of investment fund and its unit holders


Introduction Its Applicability Section 115 UB of Income Tax Act 1961 shall be inserted by the Finance Act 2015 and is applicable w e f 01 04 2016 Extract of Budget Speech 15 16 I propose to undertake a series of steps in this direction to attract capital both domestic and foreign Tax pass through is


TDS on sale of property @1% under Section 194IA


TDS on sale of property The buyer of an immovable property land flat apartment shop or a bungalow which is valued at Rs 50 lakh or more is required to pay a withholding tax to the government The prevailing withholding tax is deducted at source and is 1 of the consideration payable to the seller It i


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Updated on : 8/8/2016 5:20:12 AM


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