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TDS & TCS provisions Under GST
Tax deduction at source[Section 51] 1. Person liable to deduct TDS:The Government may make it mandatory for the following persons (deductor), to deduct TDS at ...
HUF Formation: Effective way to save the tax
Hindu Undivided Family (HUF) is known to be a very good tax saving tool in India in an ethical & compliant way. Though it is not so widely used by the peopl
Fraud Risk Mitigation Process in Organizations.
The fraud is a growing issue in all types of industries, business, cultures and management, a study report published by Metricstream Inc unveiled that a typical organization loses its 5% of revenue each year because of the fraud and fraudulent act
Benami Transactions Act complete overview including amendments
Recently, Govt. has introduced a law which has given a sudden jolt to the real estate sector. But the fact is, it is not only the real estate sector which would...
Professional Opportunity - Central Excise - Jewellery
The new assessee engaged in manufacture of jewellery may find it difficult to cope with compliance requirements under Central Excise law. The liability starts from 1st March 2016 though some procedural relaxations provided to the Jewellery segment.T
Highlights - Union Budget - 2016
Top Highlights of the Union Budgets - 2016Tax Infrastructure and agriculture cess to be levied. CPI inflation has come down to 5.4% from 9 plus. Excise duty raised from 10 to 15 per cent on tobacco products other than Beedis. 1 per cent service charg
Suggested answers of AMA (CA Final) for May 2016 Exam
Question Chapter Level of Question 1(a) Target Costing 5 A 1(b) Total Quality Management 5 B 1(c) Service Sector Costing
How to reply to a Show Cause Notice in GST?
Show Cause Notice is the first stage of litigation under any fiscal laws. While venturing to draft a reply to the show cause notice, three components should bear in mind which is Analysis of Show Cause Notice;Evidence or information and Grounds to issue Show Cause Notice; and Identifying the missing points in the Show Cause Notice.
Auto Population of details in Form GSTR 3B from Form GSTR 1 and GSTR 2B
A thorough reconciliation is required on a periodical basis (monthly or fortnightly) for eliminating any eligible credit being left out of a claim of excess ITC.
Some more Questions on ITR
31. The assessee who is under presumptive taxation scheme i.e. "no accounts case", what he should write for sundry debtors, sundry creditors, stock in trade, cash balance, gross profit as he may not have all these details since he is not maintaining
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