RBI Governor changed - How does it matter?
Posted Date : 09-Sep-2016 , 02:57:05 pm | Posted By
KARAN GOGIA
You must have realized by now that Mr Rajan exit has been seen via different lenses. Lot of rumors are coming in and some looks really promising.
Here my idea for writing this article is not to indulge you in one more rumor but to help you understand how does it matter if Mr X or Mr Y is app...
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Category : Bank |
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Place of Supply under the Model GST Law
Posted Date : 08-Sep-2016 , 04:44:59 pm | Posted By
Vineet Chopra
Place of Supply under the Model GST Law By CMA Vineet Chopra, FCS, ACMA, LLM, PGGDBA-Finance. Mb: 08720-021-021, email: vineet.chopra01@gmail.com
Place of Supply (POS) Determination of POS is an important aspect of GST &n...
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Category : GST |
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0 | Hits : 541 |
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Supply of Goods Vs. Supply of Services in GST: Test of Constitutional Validity
Posted Date : 07-Sep-2016 , 12:20:30 pm | Posted By
CA Bimal Jain
Dear Professional Colleague, Supply of Goods Vs. Supply of Services in GST: Test of Constitutional Validity Owing to the federal structure of India, where there are two taxing authorities – the Central Government and the State Government(s), the Country has witnessed overlapping of pow...
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Category : GST |
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Goods Vs. Services in GST: Concept and Open Issues
Posted Date : 05-Sep-2016 , 11:01:23 am | Posted By
CA Bimal Jain
Dear Professional Colleague, Goods Vs. Services in GST: Concept and Open Issues
As Goods and Services Tax (“GST”) is going to be levied on supply of goods and/or services, meaning of ‘goods’ and ‘services’ would also play vital role in levy and char...
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Category : GST |
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Supply- Taxable Event under Model GST Law-Inclusive and Subjective
Posted Date : 31-Aug-2016 , 12:11:36 pm | Posted By
CA Bimal Jain
Supply- Taxable Event under Model GST Law-Inclusive and Subjective With step-by-step progress towards Goods and Services Tax (“GST”), the Country is all set to witness the biggest indirect tax reform of unmatched importance in independent India. GST would mark a paradigm shift in the in...
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Category : GST |
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0 | Hits : 421 |
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Differences between Overdraft and Cash Credit
Posted Date : 20-Aug-2016 , 12:10:09 pm | Posted By
Mahesh Bansal
Most of us don't see any difference between a Cash Credit(CC) and an Overdraft(OD). Even most of the bankers interchange the two terms. Most of the banks call the working capital limit as 'CC' while some banks term it as 'OD' However, if going by the strict definitions, the two terms differ as foll...
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Category : Banking |
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Brief description of 'Mudra Loan Scheme'
Posted Date : 17-Aug-2016 , 06:04:10 pm | Posted By
Mahesh Bansal
Dear Members,
Many of our friends frequently inquire about different aspects of Mudra Loans under Pradhan Mantri Mudra Yojna. Though they have already gone through the details of this scheme, a few aspects remain unclear due to lack of proper guidance. So, to facilitate them, I have compile...
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Category : Banking |
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0 | Hits : 1358 |
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GST Simplified
Posted Date : 11-Aug-2016 , 10:22:05 pm | Posted By
Ankit
GST and its working:
Goods and Service Tax (GST) as the name suggest is a one single tax on the supply of goods and services, right from the Manufacturing to the ultimate delivery to customer. Credits of input tax paid at each stage will be available in the subsequent stage of value addition, which...
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Category : GST |
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3 | Hits : 3000 |
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Differences between a 'Home loan' and a 'Loan against property'
Posted Date : 21-Jul-2016 , 02:40:14 pm | Posted By
Mahesh Bansal
I have observed that many people can not differentiate correctly between a 'home loan' and a 'loan against property'. Many people call me to inquire about a 'home loan' against security of a property already owned by them. It is not a 'home loan'. Instead, it is a ...
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Category : Banking |
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1 | Hits : 1442 |
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Due dates for the Month of July 2016
Posted Date : 13-Jul-2016 , 02:36:04 pm | Posted By
RAHUL MODI
15 July 2016
​Quarterly statement in respect of foreign remittances (to be furnished by authorized dealers) in Form No. 15CC for quarter ending June, 2016
15 July 2016
​​​Quarterly statement of TCS deposited for the quarter ending 30 June, 2016
22 July 2016
...
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Category : Income Tax |
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No Change in TCS Return Filing Dates
Posted Date : 12-Jul-2016 , 09:04:09 pm | Posted By
Ankit Jain
In recent years, CBDT has made efforts to rationalize the provisions and procedures of Tax Deduction at source (TDS) and Tax collected at source (TCS). The recent amendments of extending the date for filing of TDS returns has been extended to 30th of next month after the quarter end is another step ...
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Category : Income Tax |
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0 | Hits : 1429 |
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CENVAT CREDIT ON SET TOP BOX
Posted Date : 11-Jul-2016 , 06:10:04 pm | Posted By
CA. PIYUSH KAPOOR
CENVAT CREDIT ON SET TOP BOX INTRODUCTION
Service providers have at least a Telephone in their office. They are paying service tax on the telephone charges. The service tax on telephone charges becomes a part of the cost for the service provider. When he collects service tax from the c...
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Category : Service Tax |
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0 | Hits : 1780 |
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How Nidhi Company arrange finance
Posted Date : 02-Jul-2016 , 01:26:32 pm | Posted By
Sakshi Sareen
How Nidhi Company arrange finance
For entering into the professional world every person wants to register their business just to have a legal existence. Registering your company would give a legal existence to your business or you can say a life of its own. One of the essential requirement ...
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Category : Corporate Law |
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0 | Hits : 1091 |
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Initial Compliances for Companies - A Look
Posted Date : 02-Jul-2016 , 12:31:17 am | Posted By
Paras Mehra
There is no term with the name initial compliances actually; we have created the term just for you to understand this better. It is actually 1st part of the total compliances and which have to be done within 30 days of the incorporation. Some other stuff we will also mention just to be organized wit...
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Category : Corporate Law |
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0 | Hits : 1130 |
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REDUCING SIZE OF VARIOUS E-FORMS OF MCA
Posted Date : 28-Jun-2016 , 06:11:03 pm | Posted By
Amarjeet Kumar Roshan
Most of the people working on MCA portal either for registration or annual filling are facing similar problem. "Size of E-forms increses the limit as prescribed by MCA after attaching DSC". Solutions for same has been given mca website which i am providing below for reducing the size of E-Forms...
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Category : MCA |
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Conversion Of companies
Posted Date : 28-Jun-2016 , 11:09:20 am | Posted By
SHASHI RANJAN
1. One Person Company to be converted ??? Voluntary Conversion:- No such company can converted voluntary into any kind of company uless 2 years have elapsed from the date of incorporation Mandatory Conversion:- OPC exceed the limit of Small Co. Such OPC shall be required to convert ...
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Category : Companies Act |
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Amendment In section 206C Vide circular No.22/2016
Posted Date : 27-Jun-2016 , 01:45:28 pm | Posted By
SHASHI RANJAN
Circular No-22/2016.......F.No.370142/17/2016-TPL
Brief:-
Finance Act 2016 has amended the section 206C of the said Act. It provide that seller shall collect tax @ 1% from buyer on sale in cash of certain goods or provision of services exceeding Rs. 2 Lacs.
&n...
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Category : Income Tax |
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0 | Hits : 689 |
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Rebate U/s 87A for A.Y. 2017-18
Posted Date : 26-Jun-2016 , 12:30:45 pm | Posted By
Durgesh Vashisth
REBATE U/S 87A FOR A.Y. 2017-18 (F.Y. 2016-17)
Rebate of up to Rs. 5,000 for resident individuals having total income of up to Rs. 5,00,000 as per Sec-87A of Income Tax Act, 1961 for A.Y. 2017-18 i.e. F.Y. 2016-17.
The rebate shall be equal to the amount of income tax payable on the total inco...
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Category : Income Tax |
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1 | Hits : 2062 |
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Online submission of form 15G and 15H
Posted Date : 20-Jun-2016 , 06:17:50 pm | Posted By
Anshu Agarwal
Submission of Form 15G/ 15H to Income Tax Department
There are certain provisions in the income tax act for deduction of tax at source (TDS) out of certain income like dividend, interest, rent etc. There are certain flat rates for deduction of TDS if such income exceed a certain fixed amount...
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Category : TDS |
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0 | Hits : 7214 |
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MODEL GST LAW 2016 RELEASED
Posted Date : 15-Jun-2016 , 12:46:28 pm | Posted By
Raman Singla
MODEL GST LAW 2016 RELEASED
The Empowered committee of State Finance Ministers has released the much awaited model GST law June, 2016 for public debate. The new law has two Acts:-
Goods and Services Tax Act’ 2016
Integrated Goods and Services Tax Act’ 2016
...
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Category : GST |
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0 | Hits : 1066 |
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TCS on cash sale of goods or services
Posted Date : 03-Jun-2016 , 11:18:15 am | Posted By
Soniya
Finance Act, 2016 imposed TCS on cash sale of goods or services with effect from 1-6-2016. New Sub Section (1D) of Section 206C is as follow: Every person, being a seller, who receives any amount in cash as consideration for sale of bullion or jewellery or any other goods (ot...
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Category : Income Tax |
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NO KRISHI KALYAN CESS ON DEBTORS AS ON 13th MAY’ 2016 (PART -2)
Posted Date : 01-Jun-2016 , 11:10:38 am | Posted By
Raman Singla
NO KRISHI KALYAN CESS ON DEBTORS AS ON 13th MAY’ 2016 (PART -2)
Read more at: http://www.casansaar.com/article-submit.htmlThe enabling provisions for KRISHI KALYAN CESS (KKC) are contained in Chapter – VI of Finance Act’ 2016. As per the provisions, KKC shall be applicable at 0.5...
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Category : Service Tax |
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1 | Hits : 2431 |
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SALARIED EMPLOYEES TO SUBMIT PROOF FOR LTA, HRA CLAIMS
Posted Date : 30-May-2016 , 01:55:02 am | Posted By
Aman Kesharwani
The CBDT (Central Board of Direct Taxes) has introduced a new form (Form 12 BB) for claiming tax deduction towards LTA, LTC, HRA & interest paid for home loans. The new form mandates people to furnish proof of travel while claiming LTA, LTC, and details of landlord in case of HRA claims.
...
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Category : Income Tax |
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1 | Hits : 2180 |
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Krishi Kalyan Cess w.e.f. 01/06/2016
Posted Date : 27-May-2016 , 05:35:23 pm | Posted By
Vishal Shah
As you are aware that the Finance Act, 2016 has increased the service tax rate to include a new cess, namely Krishi Kalyan Cess, which is applicable w.e.f. 01/06/2016. The effective rate of service tax for all new services provided after 01/06/2016 shall be as below:
Service Tax  ...
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Category : Service Tax |
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0 | Hits : 1779 |
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Bad Loan Asset Bank
Posted Date : 29-Apr-2016 , 04:11:26 pm | Posted By
CP JAIN
Currently hottest topic in Banking industry is NPA. Lot of discussions are going on about why this happened, How this happened and What should be further course of Action.
One thing is crystal clear that the Banking sector in India is passing thru a very crucial phase and need to do a lot to...
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Category : Banking |
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0 | Hits : 830 |
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Process for Incorporation of LLP
Posted Date : 28-Apr-2016 , 04:21:51 pm | Posted By
Tanay Jindal
Process for Incorporating Limited Liability Partnership
Following are the steps involved for incorporating LLP
Apply for Director Identification Number (DIN) by e-filling form DIN-3 or if the person already have Director Identification Number then no need of DIN
Acquire DSC and Register...
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Category : General |
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0 | Hits : 1305 |
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SME....!!! A New Opportunity for Private Company..!
Posted Date : 26-Apr-2016 , 04:39:26 pm | Posted By
Meetesh Shiroya
In the Present era, the market is booming up so every Company want to take opportunity to earn more from the same market and want to get maximum benefits out of that, so what are the ways available for Company to avail such benefits. So for that, Private Company has to change its Mission as well as ...
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Category : Income Tax |
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0 | Hits : 1175 |
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Highlights of Companies Amendment Act 2015
Posted Date : 24-Apr-2016 , 10:46:25 pm | Posted By
Ankur Kumar Gupta
The Indian Government is actively working to improve ease of doing business in India. Key initiative in this aspect is the Amendment to Companies Act, 2015 to make it more business or investor friendly. The Companies Amendment Bill, 2015 was passed in Lok Sabha on 17/12/2014 and it was passed in the...
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Category : Corporate Law |
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0 | Hits : 685 |
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Transparency required in allotment of PSU and Bank Audit
Posted Date : 23-Apr-2016 , 12:05:30 am | Posted By
CA Gopal Rathi
Dear CA friends,
Arbitrary criteria exist for the allotment of audit of public sector units. Every department made their own different rules and conditions for appointment though there is existence of ICAI Multipurpose empanelment form(MEF).
There is something which is hidden and n...
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Category : RBI |
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3 | Hits : 1429 |
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Rule 6(3): Cenvat Credit Rules
Posted Date : 22-Apr-2016 , 10:44:07 pm | Posted By
Sunil Kumar
CENVAT CREDIT AVAILABLE VS CENVAT CREDIT TAKEN
ALARMING AMENDMENT IN RULE 6(3) OF CENVAT CREDIT RULES
(a) A manufacturer who manufactures two classes of goods namely:-
Non exempted goods removed
Exempted goods removed
Or
(b) a provider of output service who provides two c...
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Category : Service Tax |
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0 | Hits : 1530 |
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