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Rent Free accommodation and Taxation
When employer provides employee facility of rent free accommodation. value of it is taxable as a perquisites in salary head of income tax.For calculating perquisites value taxpayer has to follow two steps.step 1: find out unfurnished accommodatio
What is Net Loss? Is Tax Audit Compulsory in case of Loss ?
What is Loss or Net Loss?Generally we know that if Expenses is more than Income, then there Loss occurs. It means,Expenses - Income = Loss (Expense > Income)
Finally Cleared CA after 10 Attempts
Patience, it's not about waiting, it's a ability to keep working harder knowing that the work is worth it. First time is the best time.
2019 CA IPCC Result - Trend Analysis on Pass Percentage & Marks of Rank Holders
Looking for ICAI May 2019 result toppers list and their pass percentage? We have the year on year trend analysis on the pass percentage and the rank holders mark sheets that will help you to plan for upcoming CA exams
Point of Taxation Rules,2011 with recent amendements
BACKGROUND OF RULES I will start my article with the wordings of Finance Minister while presenting the Budget proposal for the financial year 2011-12, the Finance minister said that in order to achieve a closer fit between the present servi
Internal Audit Process and Reporting
I received a message from one of our club member and she was keen to learn internal audit process & reporting and requested for some sample audit report. I replied her to develop her own audit report and send me for review, after reviewing the
ST-Reverse charge Mechanism. Lets crack it
Reverse Charge Mechanism under Service Tax Introduction Generally, liability to pay service tax is of the person providing taxable services, so the service provider collects service tax from the service receiver and deposit the same with
Cash transaction in income tax 40Aa(3) vs. 269SS/T vs. 269ST
https://youtu.be/TImUKdTmoEMSection 269ST:Prohibits receipt of an amount of Rs. 2 lakh or more by a person,In aggregate from a person in a day; orIn respect of ...
Revised Schedule VI Head Wise Classification Concepts
As we know the Revised Schedule VI has introduced a concept of classified balance sheet. Para 1 and 3 of General Instructions for preparation of Balance Sheet defines current assets / non-current assets and curre
Meaning, features and advantages of IGST model
Q. What do you mean by IGST model? Describe various features of IGST model. Explain in detail the advantages of IGST model.Ans. Meaning of IGST Model
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