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How to Deal with order U/S 263 of IT Act
1. Section 263 deals with the powers of the Commissioner to revise the orders pre-judicial to the interest of the Revenue. During recent times, this power is being utilised frequently, particularly with respect to assessment passed u/s 147 of I.
A Satirical Take on Life of a Big4 Article
I have learnt more about punctuation doing Call and Compare or CC as its lovingly called than I Have learnt in school. My suggestions are always valued.When I say I dont want to go to any outstation audit. I immediat
Counting instances of Duplicate Invoice Nos. in Excel
CASE STUDY: Counting instances of Duplicate Invoice Nos. APPLICATION AREAS: Vendor Payment, Account Credits SOLUTION: =COUNTIFS() EXAMPLE: Step 1: Write =COUNTIFS( Step 2: Choose range of list. E.g. A4:A13 Step 3: Press
Increasing rate of MAT, Reducing the MAT Credit
In the Finance Bill, 2000, the government introduced the new provision u/s. 115JB: The extract of the same from the memorandum to finance bill was as under: The new provisions provide t
Installation of tank for Storage of Inputs outside Factory
Services for installation of storage tank for storage of inputs outside factory are input services Important judgement of Honble Mumbai High Court in the case of M/s Deepak Fertilizers and Petrochemicals Corpn. Ltd. Versus Commissioner of Cen
Section 145A of the Income Tax Act
Section 145A shall be substituted for the existing section 145A by the Finance (No. 2) Act, 2009, w.e.f. 1-4-2010: Method of accounting in certain cases. 145A. Notwithstanding anything to the contrary contained in section 145, (a) the
Can we buy gold now?
CAN WE BUY GOLD NOW? INTERNATIONAL SCENARIO Let us analyse the both International and National scenario to identify the trend of the gold. Look at the international price of gold as on 19th April 2013, the gold closed at $ 1400.65 per oun
Prerequisites for drafting an effective Stay Application
As per Section 35F of Central Excise Act, 1944 if the assessee is aggrieved by decision of the Commissioner (Appeals) or by the Commissioner, he can file an appeal against such order befor
Provision for Inventory
Write down and do not write off Inventory Review of the Rule 3(5B) of Cenvat Credit Rules, 2004 Change of models, customer requirements, change of processes, poor inventory management can increase a businesss o
No third time cess payable on DTA clearances from EOU to DTA
No third time cess payable on DTA clearances from EOU to DTA The Larger Bench of the Honble Tribunal has held that no third time cess is payable on clearance from an Export Oriented Unit (EOU) to the Domestic Tariff Area Unit (
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