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

  MOHAMMAD SALIM    20 June 2018 at 11:06

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..

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Posted in Income Tax  12 comments |   18246 Views

Budget 2017 - Amendments in mega exemption notification at a glance

  MOHAMMAD SALIM    07 February 2017 at 11:10

Amendments in mega exemption notification as per Union Budget 17

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Posted in Others |   7920 Views

Service Recipients obligations under reverse charge

  MOHAMMAD SALIM    16 October 2012 at 12:39

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

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Posted in Service Tax  7 comments |   80562 Views

Treatment of Proposed Dividend under Revised Schedule VI

  MOHAMMAD SALIM    12 October 2012 at 12:07

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

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Posted in Accounts  8 comments |   152625 Views

Revised Schedule VI Head Wise Classification Concepts

  MOHAMMAD SALIM    10 October 2012 at 11:28

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

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Posted in Accounts  18 comments |   130818 Views