'If you cannot convince them, confuse them'. The CBEC seems to be working with this very motto when it comes to works contract service. More than half a dozen big and small clarifications and amendments have been issued since the introduct
Dear friends, I have been greatly encouraged by the comments you have given to my first article which has been motivating me to submit more of such articles. As my first article was about the profession, this time I have planned to concentrate a lit
"Think twice before you take up Chartered Accountancy.. Its a five years commitment.. easy to get in but difficult to get out" these words were told to a student who had just topped the district.. I was just sixteen then.. just a kid. The
I know that many students in this country aim high despite their family background, financial strength, family commitments and plethora of other disadvantages
Income Tax Saver Fixed Deposits : Must Know Facts During 2005, banks were losing key investments due to thinning popularity of fixed deposits due to frequent reduction in interest rates. The fixed deposits which were giving interest rates up to 1
Highlights in Direct tax code for Salaried Individuals Scope of Income from employment: As per the DTC Bill 2010, the Gross salary includes all of the following 1. Any sum received from the employer under employment 2. Any allowance for
Wealth Tax Basic Concept Applicability: whole of India from 1st April, 1957. Chargeability: On net Wealth of individual, HUF & Company @ 1% in excess of Rs. 3,00,000 on Valuation Date. Valuation Date: 31st march immedi
Direct Tax Code : Lost the original Glitter while Moderation ! In the year 2009, Government had announced the adoption of Direct Tax Code (DTC) from 01/04/2011. This announcement had created a big hype everywhere, be it individual or corporate s
Long Form Audit Report - LFAR Documents required to be kept in Audit file for Peer Review purpose 1. Cash Retention Limit duly certified by the Branch Manager; 2. A certificate from the Branch Manager stating that the excess cash holding is being re
Board deserves thanks from taxpayers for advance intimation & invitation for suggestions in respect of Point of Taxation rules that would be made applicable for charge of service tax. These Rules can provide useful inputs in the process of d
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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