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Articles by CA SONIYA AGARWAL

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TCS on cash sale of goods or services

  CA SONIYA AGARWAL    03 June 2016 at 10:51

Finance Act, 2016 imposed TCS on cash sale of goods or services with effect from 1-6-2016. New Sub Section (1D) of Section 206C is as follow: Every person, being a seller, who receives any amount in cash as consideration for sale of bullion or jewell

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Posted in Income Tax  11 comments |   12066 Views


Short note on corporate social responsibility

  CA SONIYA AGARWAL    28 November 2015 at 13:18

Year of Applicability: CSR is applicable from Financial Year 2014-15 Qualifying company (Section 135):- CSR is applicable to every Indian Companies including its holding or subsidiary which meet least of the following threshold Limit in any of the th

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Posted in Corporate Law  1 comments |   23430 Views


Interest income on tax refunds

  CA SONIYA AGARWAL    03 August 2015 at 10:36

An Assessee is eligible to claim refund of the excess tax paid by him. Tax could be paid in the form of advance tax or tax deducted/collected at source or self - assessment tax or payment of tax on regular assessment. To claim refund, an assessee nee

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Posted in Income Tax  1 comments |   6972 Views


Basic components of salary and its taxation

  CA SONIYA AGARWAL    27 July 2015 at 11:38

CTC is cost to company and the components areBasic+HRA+CONVEYANCE+MOBILE REIMBURSHMENT+MEDICAL reimbursement+All allowances+LTA+employer contribution of PF+Employer Contribution towards ESI+Total variable incentives+Perks & benefits+ Insurance Pr

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Posted in Income Tax  2 comments |   20373 Views


All about IT Form 16 for salaried employee

  CA SONIYA AGARWAL    24 July 2015 at 10:57

What is Form 16:- If you are salaried employee in an organization, then you will get the salary after deducting tax by the employer. Therefore Form 16 is a certificate issued to you by your employer stating the Personal details of the Employee includ

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Posted in Income Tax  1 comments |   18099 Views


GST - Goods & Service Tax

  CA SONIYA AGARWAL    30 June 2015 at 10:52

Presently Indian Economy has various taxes on Goods and services such as VAT, Service Tax, Excise, Entertainment Tax; Luxury Tax Etc so with coming of GST there shall be single Taxation System. GST is an integrated scheme of taxation that does not di

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Posted in GST  2 comments |   24123 Views


Verification of ITR with Aadhar card introduced

  CA SONIYA AGARWAL    24 June 2015 at 11:07

Till now upon E - filing of Income Tax return, we use to send the acknowledgement copy to CPC Bangalore within 120 days by speed or registered post, many a times the acknowledgement copy of ITR does not reach the CPC Bangalore & people used to ge

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Posted in Income Tax  10 comments |   19347 Views


XBRL becoming all pervasive!

  CA SONIYA AGARWAL    22 June 2015 at 10:39

XBRL is an electronic format for communication of business and financial data which is revolutionizing business reporting around the world. The standardization in-built in the XBRL documents provides significant benefits in the preparation, analysis

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Posted in Corporate Law  4 comments |   9864 Views


Key Highlights of Rail Budget 2015

  CA SONIYA AGARWAL    27 February 2015 at 10:41

Indian Railway Minister Suresh Prabhu announced the much awaited Railway 2015 budget at 12 noon on Thursday February 26. Chartered Accountant-turned Railway Minister Suresh Prabhu put forward Premier points like: Energy Conservation, Technology Absor

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Posted in Others  2 comments |   9642 Views


Standard operating procedure for prosecution in cases of TDS/TCS default

  CA SONIYA AGARWAL    16 February 2015 at 10:17

Two categories of cases for prosecution in TDS related offences: LIST A - MANDATORY PROSECUTION :-TDS of more than Rs. 1,00,000 deducted but not deposite

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Posted in Service Tax  7 comments |   29832 Views