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Draft exemption notifications on private limited company
1. Comments: In case of Private Ltd Companies, its holding, subsidiary or an associate company or other subsidiary of its holding company will not be treated as related party. Chapter I, sub-clause (viii) of clause (76) of section 2 shall not apply
Inputs lost during manufacturing does not amount to receipt of Inputs in short quantity
Dear Professional Colleague,Inputs lost during manufacturing does not amount to receipt of Inputs in short quantity and accordingly whatever tax has been paid by Assessee on Inward Transportation service is entitled for Input Service credit We are sh
What to do after Exams? (Part -2)
Greetings of the day to all the members of CCI Family. First of all I would like to thanks each member of CCI for such an amazing response to my previous part i.e. What to do after exams? The link of the first part is given as
AS 17 Segment reporting (An Overview)
Why is it required ?For a clearer understanding of the performances of segments.Scope :For General Purpose Financial Statements or Consolidated Financial Statements. If Financ
What you should know about GST
If there is most discussed and delayed tax reform in India,it is GST (Goods and Service Tax).Although many are aware of what GST is all about and advantages associated with it, there are still latent facts which you may not be aware of.We will discus
Mistakes which I had done, one should not do
I am writing this article especially for students of ICAI, ICSI, ICAI (CMA). This article is summarization of what strategies I had made while preparing for CA examinations, which my friends havent applied and later on suffered a lot particula
Foreign exchange fluctuation treatment in income tax
As we know todays world is dominated by globalization in which geographical boundaries of business houses has spread beyond its countries also. As a consequence of which, exchange fluctuation
Update on Indirect Tax - Service Tax and Excise for the month of Dec 2014
A. Service Tax 1. Service Tax payment for the month of November, 2014 is due for payment on 6th December, 2014 for assesses excluding Individual, Proprietary Firm, Partnership Firm or LLP. It is now mandatory for all assesses w.e.f. October 1, 2014,
Whether security provided by government to Tea Plantation owners in Assam in order to protect from terrorists liable to ST?
McleodRussel (India) Limited having its registered office at 4, Mangoe Lane, Kolkata has tea plantations in the state of assam and the area is highly volatile and acts of vandalism being carried out by terrorists. The consortium of tea plantation own
Profit on sale of carbon credit is not taxable receipt
Reliance in this regard can be placed on the decision of Hon’ble ITAT Bangalore in case of M/s SubhashKabini Power Corporation Limited vs. CIT (ITA No 258/Bang/2014) pronounced on 28th November 2014 wherein the Commissioner taking cognizance of
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