As we all know Fixed deposits are investment tools offered by banks and other financial institutions to deposit money to yield a good rate of interest as benefits. Banks have to deduct TDS where interest income is more than Rs.10,000 in a year. The bank encompasses all deposits held in all its ..
Election dates have been declared and the confusion that was going in the minds of student about exams has gone. So, since the exam dates are extended, I have observed three types of students around:
1. The overconfident one: These are the students who stopped studying even be..
Any person responsible for paying any sum to a resident transferor by way of consideration for transfer of an immovable property (i.e. building or part of building or any land other than agricultural land) is liable to deduct tax at source u/s 194-IA.
1. To understand any accounting standard in a better way, it is of most importance to know the objective of the standard. Objectives primarily cover key areas which standard address and reason why standard came into existence.
Objective of Ind AS-10:
To prescribe when entity adjust its fina..
In this article, attempt has been made to enlist
various thresholds (as amended from time to time)as prescribed under the GST law
for normal registration in different States/UTs, thresholds for Composition
registration and a snapshot on Notification No. 2/2019- CT (Rate). Read on.
On 18th March 2019, 131 CAs voiced against the contention made by 108 economists through an open letter. This news got the attention of the media and hashtag #CAsForNation was trending all over.If you have missed the story, here’s a summary of what had happened-A few days ago, 108 economists h..
Principal commissioner(GST) of Central Board of Indirect Taxes and Custom vide its letter dated 7th March 2019 has clarified the following issues:-
1. The issue of availability of ITC on Free Sample and Gifts distributed:
As per Section 7(1)(a) of CGST Act, supply includes all forms of suppl..
What is a Trademark?
Trademark is a visual representation attached to goods for the purpose of indicating their origin and is recognized by law. It includes any word, name, symbol, configuration, device, Shape of goods, packaging, a combination of colors or any combination thereof which one ..
Income Tax cases are often sordid matters involving deceit, dishonesty and general untasteful behavior. Once in a blue moon though, one may stumble upon a heartwarming story in tax, like the case of Shanti Bhushan vs. CIT.The eminent lawyer Shanti Bhushan, in this particular case, claimed that the e..
File Revised Return
When a taxpayer discovers any omission or any wrong statement in the original Income Tax Return (ITR) submitted, the same can be corrected by filing a revised return in the e-Filing portal. A Revised Return can be filed at any time before the end of relevant Assessment Y..