CAclubindia Articles

TDS on Industrial Canteens - Karnataka VAT

Posted by Mahadev 04 August 2015 24352 Views

VAT is a levy on sale of goods. For the purpose, it is usually the seller who would be held liable for payment of VAT. However, there are few exceptions created under the VAT provisions. As per Section 3(2) of KVAT Act 2003, in case there is a sale b

Failed in CA Exam - Don't Worry

Posted by CMA Sravan Kumar 04 August 2015 30240 Views

First of all, Congratulations to all the Students who have cleared

Wait for new income tax returns is over

Posted by CA Umesh Sharma 03 August 2015 7905 Views

Karneeti Part 109 ?Tanu weds Manu? returned, ?Bhaubali? returns is awaited, but the wait for New Income Tax ?Returns? is over. Arjuna (Fictional Character): Krishna, Income Tax department has notified all remaining ITR?s for FY 2014-15. As audience w

Interest income on tax refunds

Posted by CA SONIYA AGARWAL 03 August 2015 7245 Views

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

Goods & ST (GST), Concept & Impact

Posted by samarth jain 03 August 2015 13940 Views

INTRODUCTIONGST is the biggest reform proposed in the Tax Regime of our country after Independence. It is something that each of us must understand as it is going to affect our lives in a very significant manner.PRESENT INDIRECT TAX STRUCTUREFirst we

Goods & Service Tax -Allowability of Credit

Posted by samarth jain 03 August 2015 12059 Views

INTRODUCTION�G� - GOODS�S� - SERVICES�T� - TAX Goods and Service Tax means a tax on supply of goods or services, or both, except taxes on supply of alcoholic liquor for human consumption [proposed Article 366(

What is GST?

Posted by Anandaday Misshra, Advocate 03 August 2015 14285 Views

What is Goods & Service Tax � As Per Supreme Court of CanadaWhat is GST?The Supreme Court of Canada in a case of Reference re Goods and Services Tax had explained as to what is Goods & Service Tax .The important excerpts are reproduced

Incorporation of Section (8) Company

Posted by CS Divesh Goyal 03 August 2015 32665 Views

INTRODUCTIONThe concept of non-profit making company is quite old in India. In erstwhile Companies Act, 1956 it was regulated by Section 25 and that is why it was popular as Section 25 Company. However in Companies Act 2013 provisions related to non-

GST: Hyped are the merits, hidden are the threats

Posted by Pradeep Jain 01 August 2015 21113 Views

Introduction:-The Goods and Services Tax (GST) is the most awaited reformation in the indirect tax structure of India which is planned to be implemented w.e.f. April 1, 2016. It has been the most happening topic in the parliament since December 19, 2

Co-operative societies and TDS on interest

Posted by sivadas chettoor 01 August 2015 85625 Views

INTRODUCTION: This brief article seeks to discuss about the liability of cooperative societies to deduct income tax (Tax Deduction at Source or TDS) at the time