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Short Note on Non-Profit making company (Sec 25 Company)
WHAT IS A NON-PROFIT MAKING COMPANY Any association desirous of being incorporated as a company with limited liability, without the additi
Careers in Accountancy
Accounting : AN INTRODUCTION All businesses are required to keep track of their income and assets over a period of time. Accounting thereby, emerges as a critical component of any business operation. Accounting offers varied career choices and
Lower/Nil rate of tax deduction certificate for works
It is ussualy seen that works contractors registered under Punjab VAT Act, 2005 have always refund to claim from the Excise & Taxation department due to the fact that their final tax liability is much lower/Nil than the tax deductions made u/s
Recent ruling on Capital Gains as reported
1. S. 54F: Capital Gains Investment in residential house- Exemption Investment in four 4 flats Held that exemption allowed as requirement of assessee family met-out only by enlarging residential unit by merging 4 flats and th
Landmark ruling on Sec 14A-Updated as on 11th Sep
S. . 14A provides for the disallowance of expenses incurred in relation to the income, which does not form part of the total income of the assessee. 14A. [(1)] For the purposes of computing the total income under this Chapter, no deduction shall be
Ignorance of law is an excuse
INTRODUCTION :- Law is all pervading. Almost all your actions are regulated by law except a few. We have all sorts of law like personal, family, civil, criminal, revenue, commercial, taxation, public and private int
Risk Assessment of Marketing Function
The global economy is facing turbulent times with US in recession, Europe in economic crises and emerging markets growth slowing down. Frequently organizations panic on hearing forecasts of looming recession. They cut down marketing budgets, innov
VAT (What) is the confusion all about on sale of flats - Part 2
This article is the concluding part out of the two part series on this subject. This has been presented from the developers perspective. The views expressed in this series of articles are personal. It need not be said that taxation of works
Service tax on Vocational education/training courses
Service tax on Vocational education/training courses TRU has issued a Circular No. 164/15/2012-ST dated August 28, 2012 clarifying certain issues in relation to levy of service tax on certain vocational education/training/ skill development courses
Excise - Price declared below cost of manufacture
Whether the price declared below the cost of manufacture can be regarded as Normal price for chargeability of Excise duty. Dear Professional Colleague, We are sharing with you a recent judgment of the Honorable Supreme Court, New Delh
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