Articles by CMA Ramesh Krishnan

Costing Accounting Books Periodical Closure Checklist

Posted by CMA Ramesh Krishnan 14 January 2025 287 Views

The very first step is to check whether production is fully completed or not for the particular period/batch/job/process/work, etc.

Startup India Seed Fund Scheme - A booster to Indian Startups

Posted by CMA Ramesh Krishnan 08 February 2021 2148 Views

The Central Govt has approved the 'Startup India Seed Fund Scheme (SISFS) to provide the financial assistance to startups through Corpus of Rs.945 Crores. This scheme will support startups across all the sectors.

Union Budget 2021 | Amendments impacting Real Estate sector

Posted by CMA Ramesh Krishnan 06 February 2021 4049 Views

In the Finance bill 2021, there are two proposed amendments in respect of the transfer of Immovable property below the Stamp Duty Valuation (SDV) that will impact directly to the real estate sector.

Not filed Income Tax Returns? Get ready for higher rate of TDS/TCS deduction

Posted by CMA Ramesh Krishnan 05 February 2021 7706 Views

The Finance bill 2021, proposes to insert two new sections i.e. Sec.206AB and Sec.206CCA to enable deduction and collection of TDS and TCS at higher rates for those who have not filed their income tax returns.

Critical Amendment Proposed in Zero Rated Supplies under IGST Act

Posted by CMA Ramesh Krishnan 05 February 2021 3995 Views

At the present Sec. 16 of the IGST Act deals with zero rated supplies under GST. The Finance bill 2021 has proposed some changes in section 16 and the same is produced in this article.

Lower or No Tax certificate under Income tax- Procedure

Posted by CMA Ramesh Krishnan 12 September 2020 8164 Views

The concept of TDS under Income tax act is a common procedure and the object of TDS is to collect tax from the very source of income.

Concept of Pure Agent under GST

Posted by CMA Ramesh Krishnan 05 September 2020 4707 Views

Concept of Pure Agent under GST

Overview of Section 194N of Income tax Act

Posted by CMA Ramesh Krishnan 04 September 2020 8987 Views

The Finance Act, 2020, amended section194N with an intention of curb black money and to track people having huge cash withdrawal from bank and who haven't filed their return of income as per the requirement under income tax act.

Accounting perspective of new GST input credit restriction rules

Posted by CMA Ramesh Krishnan 30 December 2019 13316 Views

The CBIC imposed the restriction on availment of input tax credit (ITC) under GST in respect of invoices or debit notes, the details of which not have been uploaded by the supplies under sub section (1) of section 37 of CGST act.

Job work under GST - An overview

Posted by CMA Ramesh Krishnan 27 December 2019 7471 Views

Job work sector is an integral part of manufacturing process and contributing significant role in the Indian manufacturing industry, by its nature and importance GST gives special attention on this sector and made some special provision related to Job work industry.