tax-audit

Tax Audit in India if Turnover above Rs. 50 Lakhs/ 1 Crore

An Assessee is liable to get his Tax Audit done by a Chartered Accountant mandatorily, if in the previous year, The Person is carrying on business and his Total Sales/Turnover… Read more

CMA Inter & CMA Final Exam Form & Date Sheet Dec 2014

CMA Inter & CMA Final Exams are conducted twice every year in the month of June and December. The next CMA Inter & CMA Final Exams are scheduled to be… Read more

tax-on-sale-of-property

Service Tax on Digital Ads on Website & Mobile

Budget 2014 which was presented by Arun Jaitley has removed the service tax exemption that was earlier available in case of Advertising on Website and Mobile Ads. In other words… Read more

CS-Result

CS Exam Answer Sheets: Disclosure & Inspection by ICSI

CS Students who are unsatisfied with the CS Results have the remedy of either opting for Verification/Revaluation of Answer Sheets or opting for Disclosure, Inspection and supply of Certified Copies… Read more

income-tax-form-13-tds

Rectification of TDS Mismatch in Form 26AS & Form 16/16A

In some cases, it has been observed that there is a TDS Mismatch in Form 26AS and in Form 16/ Form 16A which should not happen. The TDS amount reflected… Read more

Section 139(9)-Defective-Return

Section 44AA & Rule 6F: Books of Accounts for Income Tax

Section 44AA prescribes the persons who are mandatorily required to maintain books of Accounts for Income Tax purposes. As per Section 44AA, any person carrying on any of the following… Read more

inspection

Disclosure & Inspection of Answer Sheets of CA Exams

On 1st August 2013, ICAI laid down the revised formal procedure for filing an application for Disclosure of Answer Sheets of CA Final, IPCC & CPT and also announced that Disclosure… Read more

tax-on-sale-of-property

Tax on Advance forfeited on Property – Section 56(2)(ix)

The Finance Act 2014 which was presented by Arun Jaitley has brought in several amendments one of which is Section 56(2)(ix) which deals with tax treatment of advance forfeited on… Read more

Dividend-Distribution-Tax-Section-115O

Dividend Distribution Tax @ 15% to be paid by Companies – Updated

Dividend Distribution Tax is the Tax which is required to be paid @ 15% by the Company who has declared, distributed or paid any amount as Dividend. The provisions of… Read more

KVP

Kisan Vikas Patra: 4 Reasons not to invest in this

Kisan Vikas Patra (KVP) has been reintroduced in Budget 2014 which was earlier discontinued in the year 2011. The Kisan Vikas Patra which is a fixed income earning instrument and… Read more

CA-Exam

Procedure to apply for CPT Registration – Dec 2016 Exams

Common Proficiency Test (CPT) is the entry level course and is same as Entrance Exams of Other Professional Organisations. Students interested in pursuing the Chartered Accountancy Course have to first… Read more

Exempt-Income-ITR

Procedure to disclose Exempt Income in ITR & Importance

There are various Incomes which are exempted from the levy of income tax in the hands of the person who is receiving the amount. As these incomes are exempted from… Read more

Debt Mutual Funds vs Equity Mutual Funds

A Mutual Fund is a professionally organised fund which collects money from the public and then invests this money in those instruments for which it has raised funds.  There are… Read more

What are Debt Funds? Debt Fund vs Fixed Deposit?

Debt funds have become very popular in the past few years and many people had started shifting funds from Fixed Deposit to Debt Funds as the tax levied was very… Read more

Tax on Debt Funds/ Bonds/ Debentures: Computation with Examples

With Debt Funds, Bonds & Debentures getting popular among the investors, and investors starting to shift from Fixed Deposits to Debt Funds, tax on debt funds/ bonds/ debentures is something that… Read more