POWER TO CALL FOR GENERAL INFORMATION U/S 133(6) OF THE INCOME TAX ACT 1961- A STUDY INTRODUCTION:The Hon Supreme Court of India, in August 2013, pronounced its judgment in Kathiroor Service Cooperative Bank Ltd & Others V Commissioner of
In global scenario, import and export transactions are commonly used by every industry and these transactions are increasing day by day. In last couple of years, rupee and dollar exchange prices movement are drastically changed and due to
Pension is a retirement benefit; this is taxed as salary in the hands of the employee. Tax is deductable under section 192 of income tax act on payment. Family pension received by the dependence of the employee is taxable under th
The section deals with the deduction of tax at source from the payment made to contractor. However, I am not dealing with the whole provision of the section but only with the contract for printing job or rather say manufacturing or supplying a pro
Cash flow statement.As the name itself indicates the statement which only deals with inflow and outflow of cash (and cash equivalents) during the accounting year. Our work is to classify those inflows and outflows into three activities namel
Accounting for Taxes on Income : What is the Object of this standard? In number of cases, the accounting income is different from taxable income that is profit as per Profit & Loss account is different compared to Income
To test Name of Ratio Formula Parties interested Industry norm Liquidity and Solvency ...
How to file ROC 1) Why we file Return of CompaniesBecause under Companies Act every company is required to file annual return. 2) When and what information is required to file. Companies having Share Capital Companies having no shar
Taxability of Reimbursement of expenses has always been a contentious issue. In most of the cases, assessee get away with non-taxability of reimbursement of expenses on the plea of no profit element. However, in some cases, even without profit elemen
The terms merger and amalgamation have not been defined in the Companies Act, 1956 though this voluminous piece of legislation contains more than 50 definition
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