Articles by MOHAMMAD SALIM

Sec 54EC - A smart way to save capital gains tax

Posted by MOHAMMAD SALIM 20 June 2018 19444 Views

Section 54EC of Income Tax Act, 1961 provides that Capital Gain arising from the transfer of long-term capital asset being land or building or both shall not be...

Budget 2017 - Amendments in mega exemption notification at a glance

Posted by MOHAMMAD SALIM 07 February 2017 8204 Views

Amendments in mega exemption notification as per Union Budget 17

Service Recipients obligations under reverse charge

Posted by MOHAMMAD SALIM 16 October 2012 80941 Views

The Ministry of Finance (Department of Revenue), Government of India has made certain changes and brought certain additional items of services under the ambit of reverse charge mechanism where the service recipient is liable to pay tax. Till 30th

Treatment of Proposed Dividend under Revised Schedule VI

Posted by MOHAMMAD SALIM 12 October 2012 156352 Views

A) INTRODUCTION Revised Schedule-VI has been promulgated by Ministry of Corporate Affairs, Government of India vide Notification No S.O. 447(E) dated 28th February,2011. In said notification reference has been made to the Accounting Standards noti

Revised Schedule VI Head Wise Classification Concepts

Posted by MOHAMMAD SALIM 10 October 2012 132951 Views

As we know the Revised Schedule VI has introduced a concept of classified balance sheet. Para 1 and 3 of General Instructions for preparation of Balance Sheet defines current assets / non-current assets and curre