Service tax on export of service
Export the goods and not the taxes is the common line that we hear, this statement is also valid in Finance Act, 1994 for export of service. However Rules framed under Finance Act, 1994 have defined...
View ArticleGST rate recommended at 17-18%
CEA led Panel recommends RNR at 17-18% and eliminating Additional Tax of 1% on inter-state supply of goods Bracing to roll out the new Indirect tax regime — Goods and Services Tax (“GST”) from April 1,...
View ArticleRelated Party Transactions
Related Party Transactions Section-188 of the Companies Act, 2013 A Concise Comparison:- i. Section 188 of the Companies Act, 2013 replaces the section 297 of the Companies Act,1957. ii. Under...
View ArticleMy Journey. My struggle
Today I write to encourage those who have lost all hopes…who are dejected…de-motivated and are going through a rough phase. Although I have not achieved anything so big in life that I can be a role...
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CA Students: Freedom Fighters of Life
A Struggle, an effort & hard work comes to an end…!! Yes, CA Exams are over. Now every CA-IPC & Final students are breathing normally & fighting for their freedom in their lives since CA...
View ArticleGST: Boon or bane to Indian economy
The Goods and Services Tax (GST) is the most-talked about upcoming comprehensive indirect tax in our country subsuming the major indirect taxes like Customs duty, Excise duty, Service tax and Value...
View ArticleSection 44AD of the IT Act 1961
SPECIAL PROVISIONS FOR COMPUTATION OF PROFIT AND GAIN OF BUSINESS ON PRESUMPTIVE BASIS This section provides that ELIGIBLE ASSESSEES can in respect of ELIGIBLE BUSINESS can declare 8% or more of the...
View ArticleLimited Liability Partnership (LLP)
Executive Summary: In India, The Limited Liability Partnership Act, 2008 was published in the official Gazette of India on January 9, 2009 and has been notified with effect from 31 March 2009. AS per...
View ArticleZero percent finance is a myth
Before the globalization took place in 1992, We Indians used to believes in saving most of the earning. A study suggest that as much as on an average 50% of income was used to save by people before...
View ArticleA to Z of Swachh Bharat Cess
Introduction: With a view to source funds for Swachh Bharat initiative, Section 119 of Finance Act, 2015 is introduced which provides for levy of Swachh Bharat Cess (SBC) on value of all taxable...
View ArticleGST Draft Law – 10 things you must know
Yesterday,few of the private tax webportals published the copy of the draft GST law. Though the authenticity of the same is yet to be vetted by the Government officials, meanwhile,in the following...
View ArticleWhy we need Swachh Bharat Cess in India
In today’s scenario,all are discussing about SBC which was launched by Prime minister, Narendra Modi with the aim to improve the sanitation in rural and urbn areas so that the overll quality of life...
View ArticleBinding nature of board circulars – Confusion settled or created?
Binding Nature of Board Circulars-Confusion Settled or Created? Or Circulars contrary to SC decisions deemed as rescinded- A good start! Introduction:- The binding nature of the Circulars issued by...
View ArticleUnderstanding Section 54
Capital gains is one of the most complicated heads of income envisaged in the Income Tax Act, 1961. Capital gains tax directly affects the investment decisions one may have to take. There are various...
View ArticlePromoter: A debatable word
Literal Meaning As per Oxford Advanced Learner’s Dictionary, Promoter means a person or company that organizes or provides money for performance or an event. Promoter is a person (natural or...
View ArticleRegistration under GST? An overview
The platform seems to be all set for the launch of the most awaited tax reform in India. It is a unanimous opinion that if the Goods and Service Tax law is implemented, it would directly benefit the...
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How to crack that interview and get the coveted job
Understand the company that is hiring as well as interviewer: Most companies do a ‘pre-placement talk” (in case of campus placements) and when you get the opportunity to ask questions, dont simply ask...
View Article4 Stepping Stones to Pass Your Other Group of Exam after passing One Group
Why are the student’s failing in Group 2? More than 40% of students who have passed Group 1 in first attempt in Exam are failing repeatedly in Group 2. Below are my observations on what is happening...
View ArticleFor Her: How body language helps make the impact
While body language in the social set-up is much less important, considering the casual nature of such environs, professionally, a slack body language is a big deal breaker. It projects you as somebody...
View ArticleIndia & Japan: The rise of a new sun?
As the Japanese Prime Minister Shinzo Abe concluded his 3 days official visit to India, my limited mindset forced me to go a bit dipper into India and Japan relations and with the help of few of my...
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