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Article - ICAI President’s Message – June 2018 – (31-05-2018)
President’s Message – June 2018 – (31-05-2018) My dear Professional Colleagues, Good governance has always been at the core of all successful institutions across the globe. The imperative need to have good governance surfaced to demarcate the division between its ownership and its
Read MoreArticle - Provisions useful for non-residents Under Income Tax | FAQs on NRI Income
Provisions useful for non-residents Under Income Tax | FAQs on NRI Income Is the residential status of a person relevant for determining the taxability of the income in his hands Yes, the residential status of a person earning income is very much relevant for determining the taxability of such incom
Read MoreArticle - CBDT issues reward schemes for Income Tax Informants
CBDT issues reward schemes for Income Tax Informants Income Tax Informants Rewards Scheme 2018 Income Tax Informants Rewards Scheme 2018 has been launched by Income Tax department. A person can get reward up to Rs. Five crore by giving specific information about evasion of Income tax on income and a
Read MoreArticle - Representation submitted to CBDT by Direct Taxes Committee of ICAI for making Chartered Accountants ineligible to determine the FMV of unquoted equity shares.
Representation submitted to CBDT by Direct Taxes Committee of ICAI for making Chartered Accountants ineligible to determine the FMV of unquoted equity shares.. ICAI submitted Representation before CBDT regarding Valuation Certificate Re: Notification No 2312018, dated 24th May, 2018 amending Rule 11
Read MoreArticle - Due date calendar of June 2018 | GST Due date calendar for June 2018
Due date calendar of June 2018 | GST Due date calendar for June 2018 : Every month we are sharing the due date calendar for direct as well as indirect tax. Below calendar is for the month of June 2018. Refer Below , Due date calendar of June 2018 | GST Due date calendar for June 2018 [&hel
Read MoreArticle - Filling Statement of Financial Transactions in Income Tax Act
Filling Statement of Financial Transactions 285BA of Income Tax Act has casted responsibility ofFilling Statement of Financial Transactionson the persons which are covered under rule 114E of the Income Tax Act. The last date ofFilling Statement of Financial Transactions for the FY 17-18 is 31st May
Read MoreArticle - Instructions for filling out FORM ITR-2 for F.Y. 2017-18 | A.Y. 2018-19
Instructions for filling out FORM ITR-2 for F.Y. 2017-18 | A.Y. 2018-19 These instructions are guidelines for filling the particulars in this Return Form. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962. 1.Assessment Year for which
Read MoreArticle - Instructions for filling ITR-1 SAHAJfor F.Y 2017-18 | A.Y 2018-19
Instructions for filling ITR-1 SAHAJfor F.Y 2017-18 | A.Y 2018-19 General Instructions These instructions are guidelines for filling the particulars in this Return Form. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962. 1.Ass
Read MoreArticle - CBDT releases draft notification on LTCG, invites stakeholders comment
CBDT releases draft notification on LTCG, invites stakeholders comment Finance Act, 2018 has withdrawn the exemption u/s 10(38) of IT Act, 1961 & has introduced a new Sec. 112 A of taxation of capital gains on transfer of listed equity share, unit of equity oriented fund or businesstrust. The ca
Read MoreArticle - How to Calculate Taxable Value between branch transfers for used goods or Assets
How to Calculate Taxable Value between branch transfers for used goods or Assets Companies having pan India presence frequently need to shift assets or goods from one branch to another and within state and interstate as well. Many people have doubt about value to be considered from GST point of View
Read MoreArticle - TDS Rates Chart for FY 2018-19 | AY 2019-20
TDS Rates Chart for FY 2018-19 | AY 2019-20 TDS Rate Chart for FY 2018-19|TDS Rate Chart for AY 2019-20 TDS Rates Chart for FY 2018-189| AY 2019-20: TDS Rates Chart for Financial Year 2018-19 | Assessment Year 2019-20 vide Finance Act 2018. Due Dates for E-Filing of TDS/TCS Return FY 2017-18 | A
Read MoreArticle - CBDT notifies procedure for person who do not have a PAN & who enters into specified transaction
CBDT notifies procedure for person who do not have a PAN & who enters into specified transaction : CBDT vide Notification No. 1 of 2018 dated5th April, 2018has notified rules for Procedure for submission of Form 60 by any person who does not have a Permanent Account Number and who enters into an
Read MoreArticle - Revenue recognition new accounting standard Ind AS 115 from April 1
Revenue recognition new accounting standard Ind AS 115 from April 1 The Corporate Affairs Ministry has notified Indian Accounting Standard (Ind AS) 115 which would be effective from the new financial year, starting Sunday. As per Accounting Experts, revenue recognition standard (Ind AS 115) provides
Read MoreArticle - Representation made to RBI for improving quality of Bank Audit
Representation made to RBI for improving quality of Bank Audit : CA Associations have given representations to RBI for improving quality of Bank Audit. CA associations of Lucknow, Ahemdabad, Karnataka & Bombay have givenrepresentations to RBI for improvement of quality of Bank Audit. This repres
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