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Presumptive Taxation | An analysis
PRESUMPTIVE TAXATION Presumptive taxation involves lump sum levies on certain small-scale business activities to whom Section 44AB is not applicable. Thus Sections 44AD, 44AE and 44AF of the Income-tax Act, 1961, provide for estimating the income
Impact of Companies Bill on a Private Limited Company
Impact of Companies Bill 2012 passed by Rajya Sabha on a Private Limited Company The maximum number of members in a private company has been increased from 50 to 200. This will definitely cheer up the corporate world as it enables the private co
Points to be considered while acquiring a company
Now a day’s cross border transactions, mergers and acquisitions became quite common in a regular business phenomenon. In this article I will discuss a few points as a course of initial observations to be considered while acquiring company- 1)
Combined Application of AS 11 & AS 16
This article deals with the combined application of AS 11 and AS 16. This article defines a situation in which the exchange difference shall be treated as both borrowing cost as per AS 16 and exchange difference as per AS 11. In simple words the e
Changes in depreciation under new Companies Act, 2013
With new Companies Act 2013 round the corner and vigorous environment of analysis going on as to its impact on financial statements of the company,here is the analysis of one of the most vital elements, a non cash expenditure that impacts profitabili
Section 44AD of the Income tax Act after Budget 16
SPECIAL PROVISIONS FOR COMPUTATION OF PROFIT AND GAIN OF BUSINESS ON PRESUMPTIVE BASIS(After Budget 2016)This section is nothing but provides a relaxation to the tax payers to declare income on presumptive basi
Voluntary Compliance Encouragement Scheme 2013
VOLUNTARY COMPLIANCE ENCOURAGEMENT SCHEME, 2013- ENGOURAGING ENOUGH? The Budget of 2013-14 ushered in a new gift for a multitude of service tax payers; or rather non-payers by announcement of the Voluntary Compliance Encouragement Scheme, 2013 or the
GST on hiring of motor vehicles
Clarifications regarding GST on renting of motor vehicles designed to carry passengers to be paid by corporate recipients /FirmsGovt. of India vide Circular No....
TDS under section 194N - Latest changes
The Govt.of India through Finance (No 2) Act 2019 had introduced a new section 194N in the Income Tax Act 1961, to provide for levy of Tax Deduction at Source (TDS) @ 2% on Cash payments in excess of One Crore Rupees
Happy Man's Shirt
Many amongst us know the story of the King who was in search of happiness. Still, Ill discuss it here so that you recall it. Long time ago there was a king who was very anxious and so he was not happy for n number of reasons. He had lot of
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