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Old Schedule VI vs Revised Schedule VI - Related issues
Old Schedule VI Vs Revised Schedule VI Related issues Introduction: Section 211 provides that every balance sheet of a company shall give a true and fair view of the state of affairs of the company as at the end of the financial year and
Future of Form 26AS
27 February 2012
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Hi Everyone! What will FORM 26AS appear like in Future? At Present it is a TAX CREDIT STATEMENT meaning it displays the taxes paid by us like Advance Tax, Self Assessment Tax and Particulars of TDS made by others on our behalf. But what if it was
Why we should file the return? If salary is less than 5 Lakh
Why we should file the return? if CBDT exempts return-filing for salaried having total income upto Rs 5 Lakh. IN MY OPINION IT IS ALWAYS BETTER TO FILE THE RETURN Some reasons:- 1.The tax department has notified that individuals with salary
Understanding LLPs Better
The Limited Liability Partnership (LLP) is viewed as an alternative corporate business vehicle that provides the benefits of limited liability but allows its members the flexibility of organizing their internal structure as a partnership based on
Suggestions to control black money
How to control black money:- 1. Ensure that even petty shop people deposit their cash sales in to a bank account (account opening should be simple & easier) 2. Integrate sub registrar office, sales tax and service tax departme
Tax Invoice defined in Value Added Tax Act
Tax Invoice Section 86 One of distinguishing features of VAT Act is the provision for Tax Invoice. There can be two types of sale invoice; Tax Invoice and other than Tax Invoice; i.e., bills, normal in
Reconciliation in professional life
BRS ( BRS is used for Bank Reconciliation Statement. However; see how CAs utilize this concept in their professional life ). Scene 1. . Seminar on Bank Audit ( Lunch-Break ). . Mr. Sen and Mr. Jain : Two practising CAs. M
New tax slabs expected in Budget 2012 by CA Sudhir Halakhandi
The most interesting part of the Budget-2012 is going to be the Limit for Individual Taxation and there is a hope for individual Taxpayers to get a very good response in this respect from the Finance Minister Mr. Pranab Mukharjee. This aspect of the
Exemption from Filing Income Tax Return
The Central Government has exempted certain class of persons from filing the income tax return subject to following condition: 1. Assessee should be individual 2. Income does not exceed Rs. 5 Lac 3. Income is chargeable under Salaries Intere
Corruption beneficial to professionals?
Corruption a buzzword in todays society has found its place on every tongue, but is rather bitter in taste. Each day corruption is striking hard on the economy, some social activists are trying to curve the corruption but the fa
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