Popular Articles

Changes in service tax from 1st April 2015

Posted by Bimal Jain 01 April 2015 126639 Views

New Service tax rate of 14% is not effective immediately and shall come into effect only from a date to be notified later:The Union Budget, 2015 has proposed an increase in the rate of Service tax from 12.36% to flat 14% with abolishment of Education

Liabilities of the Auditor under Companies Act 2013

Posted by Neethi V. Kannanth 10 April 2023 126253 Views

When a person who has engaged an auditor, has suffered some loss, damage or detriment due to non-performance of duty by such auditor in accordance with the accepted professional standards, it shall give rise to the liability of the auditor.

Deferred Tax in Simple Words - PART II

Posted by Vignesh Killur

02 May 2012 126229 Views

The Day is 1st of April 2001; the Indian Accounting Fraternity is introduced to the concept of Deferred Tax. Accounting for Taxes on Income (AS 22) is applicable to different categories of enterprises from different dates. TABLE 1.

Few Notable points regarding Indirect Tax (IDT) preparation

Posted by Ankur Garg 04 September 2014 126217 Views

Dear Students, Now it is time to discuss few relevant points regarding Indirect Tax (IDT) preparation keeping in view November 2014 and December 2014 attempt. My previous four articles were about tips and tricks to handle Costing, Strategic Financial

Detailed analysis of new TDS Section 194IA

Posted by Manoj BG 12 June 2013 126142 Views

w.e.f 01/06/2013, new TDS section brought into effect for deduction of tax while making payment for purchase of immovable property other than agricultural land in rural area in India- Following are the conditions and operational mechanism- (1) T

Independent director under Companies Act 2013

Posted by Ajay Mishra 17 September 2013 125953 Views

An Independent Director (also sometimes known as a outside director or non-executive director) is a director (member) of a board of directors who does not have a material or pecuniary relationship wi

Special Reserve created under section 36(1)(viii)

Posted by Member (Account Deleted) 18 August 2014 125902 Views

Special Reserve created under section 36(1)(viii) of the Income Tax Act, 1961 and Deferred Tax Liability on it.As per section 36(1)(viii) of Income Tax Act 1961 in respect of any special reserve created and maintained by a specified entity, an amount

TCS on Sale of Overseas Tour Package

Posted by Harshit Panjwani 29 June 2023 125856 Views

TCS on Sale of Overseas Tour Package was proposed in Budget 2020. As per TCS provision on sale of overseas tour package. every Seller of an Overseas Tour Programme Package is required to Collect Tax from the Buyer of such Overseas Tour Programme Package.

Purchase Process in SAP environment-with an Accounting view.

Posted by Ramanreet Singh 25 April 2021 125850 Views

What Happens in SAP?Contents:-1. Pre-Procurement Process2. Graphical Presentation of Procurement Process3. Procurement Process in detail4. GR/IR Clearing Accounts5. Explanation of accounting entries with the help of a case study.a) Booking of Purcha

Point of Taxation Rules

Posted by Annu Agarwal 31 October 2014 125810 Views

Point Of Taxation Rules,2011We all know that there are several rules in Service tax like the Service Tax Rules,The Cenvat Credit Rules,Valuation Rules,Place of Provision rules.Likewise we have Point of Taxation Rules which define the point in time wh