Articles by CA SONIYA AGARWAL

TCS on cash sale of goods or services

CA SONIYA AGARWAL 03 June 2016 at 10:51

Finance Act, 2016 imposed TCS on cash sale of goods or services with effect from 1-6-2016. New Sub Section (1D) of Section 206C is as follow: Every person, being a seller, who receives any amount in cash as consideration for sale of bullion or jewell

Short note on corporate social responsibility

CA SONIYA AGARWAL 28 November 2015 at 13:18

Year of Applicability: CSR is applicable from Financial Year 2014-15 Qualifying company (Section 135):- CSR is applicable to every Indian Companies including its holding or subsidiary which meet least of the following threshold Limit in any of the th

Interest income on tax refunds

CA SONIYA AGARWAL 03 August 2015 at 10:36

An Assessee is eligible to claim refund of the excess tax paid by him. Tax could be paid in the form of advance tax or tax deducted/collected at source or self - assessment tax or payment of tax on regular assessment. To claim refund, an assessee nee

Basic components of salary and its taxation

CA SONIYA AGARWAL 27 July 2015 at 11:38

CTC is cost to company and the components areBasic+HRA+CONVEYANCE+MOBILE REIMBURSHMENT+MEDICAL reimbursement+All allowances+LTA+employer contribution of PF+Employer Contribution towards ESI+Total variable incentives+Perks & benefits+ Insurance Pr

All about IT Form 16 for salaried employee

CA SONIYA AGARWAL 24 July 2015 at 10:57

What is Form 16:- If you are salaried employee in an organization, then you will get the salary after deducting tax by the employer. Therefore Form 16 is a certificate issued to you by your employer stating the Personal details of the Employee includ

GST - Goods & Service Tax

CA SONIYA AGARWAL 30 June 2015 at 10:52

Presently Indian Economy has various taxes on Goods and services such as VAT, Service Tax, Excise, Entertainment Tax; Luxury Tax Etc so with coming of GST there shall be single Taxation System. GST is an integrated scheme of taxation that does not di

Verification of ITR with Aadhar card introduced

CA SONIYA AGARWAL 24 June 2015 at 11:07

Till now upon E - filing of Income Tax return, we use to send the acknowledgement copy to CPC Bangalore within 120 days by speed or registered post, many a times the acknowledgement copy of ITR does not reach the CPC Bangalore & people used to ge

XBRL becoming all pervasive!

CA SONIYA AGARWAL 22 June 2015 at 10:39

XBRL is an electronic format for communication of business and financial data which is revolutionizing business reporting around the world. The standardization in-built in the XBRL documents provides significant benefits in the preparation, analysis

Key Highlights of Rail Budget 2015

CA SONIYA AGARWAL 27 February 2015 at 10:41

Indian Railway Minister Suresh Prabhu announced the much awaited Railway 2015 budget at 12 noon on Thursday February 26. Chartered Accountant-turned Railway Minister Suresh Prabhu put forward Premier points like: Energy Conservation, Technology Absor

Standard operating procedure for prosecution in cases of TDS/TCS default

CA SONIYA AGARWAL 16 February 2015 at 10:17

Two categories of cases for prosecution in TDS related offences: LIST A - MANDATORY PROSECUTION :-TDS of more than Rs. 1,00,000 deducted but not deposite