Service Tax Internal Audit CENVAT Companies Act LLP Basic concept GST GST Registration GST Returns GST Rates Income Tax Salary Income Housing property Business Income Presumptive Income Capital Gain Other Income TDS Return Case Laws Partnership Firm Accounting Definitions Accounting Standards CA Notes IPCC Notes CA Final Notes Rankholder's Interview Management TopCA's Interview

  • What exemption on LTC cash voucher scheme means for you- A Note

    Government in Budget 2021 notified Leave Travel Concession (LTC) cash Voucher scheme. In view of the situation arising out of outbreak of COVID pandemic, it is proposed to provide tax exemption to cash allowance in lieu of LTC.

    Initially, the scheme was announced in October

  • Tax rate on supply of pure food items by a sweetshop cum restaurant- GST Blog

    1. Query:

    Whether supply of pure food items such as sweetmeats, namkeens, cold drink, Jalebi, Chola Bhatura and other edible items (may or may not be consumed at the premises) from a sweetshop which also runs a restaurant located on the first floor is a transaction of supply

  • The Cobra Effect Of GST


    The “cobra effect” is a term in economics which refers to a situation when an attempted solution to a problem makes the problem worse. Such effect happens in GST laws too when clarification for interpretation is also mis-understood. In this article, I wish to

  • Guide on Revised rules related to Submission of Form 15CA and Form 15CB

    1. Here are the full details

    A person responsible for making a payment to a non-resident or to a foreign company has to provide the following details –

    Remove a Director from the Company- All About The Process

    Where the Director himself gives his resignation
    The concerned director submits his resignation to the Board. In this case, the following steps will be taken to remove his name from the register of directors:

    Guide on Different Types of Assessment Under GST

    Q.What are the different types of Assessment under GST?

    Ans: Under GST, the term “assessment” means determination of tax liability under this Act and includes self-assessment, re-assessment, provisional assessment, summary assessment and best judgment assessment. Normally,


  • All About Purchase and Sales Return Under GST

    1. The Purchase & sales returns are common in day-to-day business transactions. This concept is treated in a slightly different manner under GST Act 2017.

    2. Purchase Return: The purchase return is the return of the goods by the customer to the seller. From the GST perspective, it is a return by the recipient to the supplier of the goods.

    2.1 The reasons for purchase return by the recipients may be receipt of defective

  • GST on Audit Services by CAG to Ports

    The Comptroller and Auditor General of India (CAG) has detected several irregularities and lacunae in the processes followed by the Gujarat government in the assessment and collection of Goods and Services Tax (GST) in the state.

    CAG’s audit report on Revenue Sector for the

  • How to apply for Registration under Punjab Profession Tax


    Date of  Notification in the Official Gazette of Punjab Government : 19.04.2018

    Date of

  • Note on Ombudsman Scheme Under Insurance Industry

    OMBUDSMAN: An Ombudsman is an officer ,appointed by the Government , who investigate complaints ,lodged by citizen against Government, Universities, Colleges , Municipalities, Companies, Financial Institutions etc., and attempt to resolve the complaint with mediation or marking recommendations.

    All About ITR-V

    What is ITR-V, Time Limit, where to submit and what if not submitted within time

    What is an ITR-V?

    ITR-V stands for ‘Income Tax Return – Verification’ form.

  • All About PPF Account – Interest Rates, Withdrawal & Tax Benefits

    PPF is Central Government Tax Saving Scheme with long term investment and tax saving option. In this article, we will cover the following areas-What is PPF and where you can open such account, Interest rate applicable on PPF, Who can open a PPF Account, Minimum and maximum investment required in PPF Account, Lock in period of PPF, tax benefits for investing in PPF

  • All About GST Checklist Before Finalisation of Books of Accounts

    INTRODUCTION: A lot of legal considerations have to be kept in kind before finalizing books of accounts for the auditor to give a reasonable assurance that the financial statements of the client give a true and fair view. One of such legal considerations involve compliance with GST Act. In this article we shall learn the GST considerations with respect to balance

  • Guidelines for filing of form NDH-4 (Application for Declaration/ Updation of status of Nidhi)

    (Form for filing application for declaration as Nidhi Company and for updation of status by Nidhi)

    Notification: Ministry of corporate affairs had issued Notification dated 01st July 2019. These rules called as Nidhi (Amendment) Rules, 2019 and came into force with effect

  • Filing of MSME Form 1 with MCA & Due Dates

    Ministry of Corporate Affairs vide Notification dated January 22, 2019, requires that

    ♣ Applicability:

    To all the companies, who

    Steps for filing Letter of Undertaking online on GST Portal


    Step: – 1: Login on GST Portal.

    Enter the Username, password and Captcha code, Click on ‘Login’

    Image</strong></p>... </span> </li> <li class=

    How To Check Income Tax Refund Status, ITR Receipt Status


    ITR Filing, Income Tax Refund Status, Income Tax Status: Laptops, calculators are being kept ready for ITR filing. However, those who have filed the Income Tax return (ITR), are seeking to know the Income Tax Refund Status. It’s a very simple process to track Income Tax Refund Status. Taxpayers can also track ITR status or ITR Receipt Status. It can be done by following a few
  • Tax Treatment and Applicability of Audit for Intraday Trading in India

    Tax Treatment and Applicability of Audit for Intraday Trading in India

    Indians are shedding the traditional misconception that share trading is all about speculation and gambling. Many have now realized that intraday trading is similar to any other

  • All About Statutory Audit of Banks- AY 2021-22

    Statutory Audit Process
    It is vital that Statutory Auditors ensure that the audit reports issued by them are compliant with the requirements prescribed in following standards.

    Standard of

  • Article on Section 115BAC: Features of the new tax regime and its benefits


    1. What is the new tax regime for FY 2020-21?
    The Budget 2020 introduces a new regime under section 115BAC giving an option to individuals and HUF taxpayers to pay income tax at lower rates. The new system is applicable for