The Honorable Delhi High court in its recent judgement held that ‘Trade Advances’ between a company and it’s shareholder (as covered under the definition of section 2(22)(e)) is not in…
The onus of proof that income has been concealed in case of sale of property below market price is on the Income Tax Department. The mere fact that the property has been sold at discount / below market price is in itself not sufficient to prove concealment of income unless supported with evidence that consideration received has not been declared.
The due date for filing income tax return for corporate assessees and other assessees who are required to get their accounts audited under Income Tax Act 1961 or under any other law for the time being in…
The Employees’ Provident Fund Organisation has launched a facility for online verification of status of the claim under the EPF. The facility can be availed at http://59.180.233.84/homepage_claim_status_new.php The user needs to select his State, the EPF office, Establishment Code, Extension code,…
The Finance Ministry vide its latest rules have notified an increased limit for Public Provident Fund or PPF Accounts as they are generally known from Rs. 70,000 p.a. to Rs….
It has been recently held by Honorable CESTAT, that credit of service tax is allowed on mobile phones used for business purposes. Earlier, credit of service tax on mobile bills…
How Much You can get? You can take a loan from the third year of opening your account to the sixth year.Also, the loan amount will be upto a maximum of 25% of the balance in your account at the end…
[TO BE PUBLISHED IN THE GAZETTE OF INDIA: EXTRAORDINARY, PART II-SEC. 3 (i)] MINISTRY OF FINANCE New Delhi, the 25th November, 2011 (Department of Economic Affairs) NOTIFICATION S.O. (E).– In…
Many companies is charging from Sixty to thirty thousand for one year for Xbrl Software. Now you can download its free. ‘Apex Xbrl Maker Free Edition’ and it is developed by…
Section 115JB, which provides for minimum alteration tax, has been prescribed at a rate of 18.5% and this will be affective from 1st April 2012 The computation mechanism has also…
Many of us face the problem of calculation of capital gain on sale of property which was purchased from builder in installments or otherwise and was under construction when the…
CAG Empanelment for CA Firms for FY 2012-13 will begin from 1st January, 2012 till 15th February, 2012. The empanelment form has to be filled online on the website of…