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  • Different Assessment Under Income Tax Act

    Assessment: -Assessment means Assessing Taxable Income of Assessee and Tax Liability their on by Assessee himself/herself or by Assessing Officer. Assessment includes reassessment.

  • Deemed Income Under Income Tax Act

    Deemed Income means Income which is actually not earned or received by Asseessee but Income Tax Act consider such as Income deemed to be received in India.


    Deemed Income on basis of Certain Past allowances of Deduction but Received Subsequently

    As per sec 59 of Income Tax Act where assessee had claimed any Deduction or allowance in any previous years but in current financial year Asseessee Received any amount of

  • Eligibility, Functions, Enrollment and Filing of Returns- GST Practitioner

    The Goods and Services Tax law provides for appointment of GST tax practitioners (tax return preparer) to file GST returns on behalf of taxpayers. The taxpayer can authorize any tax practitioner approved by Government to perform GST filing activities on behalf of the taxpayer.

    In this article, we will discuss the functions of tax practitioner, eligibility criteria, registration procedure, authorization of tax

  • GST: A major indirect tax reform

    The introduction of GST in India is now a reality,
    with the Government stepping on the speed
    button to bring in GST live with effect from
    July 2017. A thorough preparedness of the
    organization before the actual implementation
    of GST is the need of the hour. GST proposes

  • Amendments in CGST Rules Since 1 Year Of Implementation of GST & Analysis of Amendment Acts 2018

    Notification No.


    Amendment in CGST Rules

    Changes In


    19th June, 2017

    Introduction of

  • Sahaj & Sugam - Simple Returns Under GST

    Small Taxpayers
    The quarterly GST return filing option would be available for small taxpayers. Small taxpayers have been defined as a person having GST registration and who had a turnover of upto Rs.5 crores in the last financial year. The option to file quarterly or monthly GST return would be given to the taxpayer at the beginning of the year. During the course of the year at the beginning of a quarter, the

  • GSTR 10 Due Dates, Format & Filing

    Form GSTR-8 is a monthly return form to be furnished by all e-commerce operators who are required to deduct TCS (Tax Collected at Source) under GST.Form GSTR-10 is a final return form to be furnished by all taxable persons whose GST registration is cancelled or surrendered.

    Here it is important to understand the difference between a final return and an annual return, basically the difference between GSTR-10

  • Ind AS roadmap for banks, insurance companies and NBFCs

    In pursuance to the budget announcement by the Union Finance Minister, after consultation with the Reserve Bank of India (RBI), Insurance Regulatory and Development Authority (IRDA) and Pension Fund Regulatory and Development Authority (PFRDA), the Ministry of Corporate Affairs (MCA) issued a press release on 18 January 2016, announcing the Ind AS roadmap for scheduled commercial banks (excluding regional rural banks [RRBs]),

  • Ind AS, IFRS and Indian GAAP: A snapshot of critical areas

    There are many areas of differences between Indian GAAP (the standards issued by the Institute of Chartered Accountants of India [ICAI] and the guidelines issued by the RBI) and Ind AS because current Indian GAAP is driven by “form” in a number of areas rather than “substance,” which is the focus under Ind AS. Certain critical areas that would have a transformational impact on the transition to Ind AS are summarized hereunder:

  • NPS Tax Benefits and Tax Treatment at Maturity (Latest)


    NPS Tax Benefits (Latest)
    This part has not been affected by the latest budget. Only contribution to Tier-I NPS account is eligible for income tax benefits.

    Investment up to Rs 1.5 lacs into NPS in a financial year is eligible for deduction under Section 80CCD(1). Please note this deduction comes under the overall ceiling of Rs 1.5 lacs for deduction under Section 80C. In

  • Step By Step- How to file revised TDS return

    Procedure for Filing Revised TDS Return
    If you find any mistake in filling of the eTDS or want to make any modifications like changing the name, address, challan serial no., BSR code, challan tender date, etc, you can correct your form in simple steps. However, before going through the steps, there is something you should know:

    Update deductor details such as Name, Address of Deductor.

  • Handbook on One Person Company(OPC)


    1. Definition of One Person Company (OPC)
    2. No. of Persons Required for formation of OPC
    3. Mandatory Conditions for formation of One Person Company (OPC)
    4. Nominee for OPC
    5. Change of Nominee
    6. Management
    7. Financial Statement of OPC
    8. Meetings...

  • What is Nidhi Company Registration in India

    What is Nidhi Company Registration

    “Nidhi” is a Hindi word, which means finance or fund. Nidhi means a company which has been incorporated with the object of developing the habit of thrift and reserve funds amongst its members and also receiving deposits and lending to its members only for their mutual benefit.

  • Handbook on Niti Aayog

    NITI Aayog stands for National Institution for Transforming India. It is a Government of India initiative to replace Planning Commission. NITI Aayog involves inputs from both the central and state governments in policy-making processes. The Prime Minister is the Ex-officio chairman of NITI Aayog. NITI Aayog also consists a governing council. Chief Ministers of all the states, chief ministers of Delhi and Puducherry, Lieutenant

  • Standard on Auditing (SA) 701 Communicating Key Audit Matters in the Independent Auditor’s Report


    Scope of this SA
    1. This Standard on Auditing (SA) deals with the auditor’s responsibility to
    communicate key audit matters in the auditor’s report. It is intended to address both
    the auditor’s judgment as to what to communicate in the auditor’s report and the form
    and content of such

  • CA INTER/IPCC students - TAX AMENDMENTS for May 2019 by CA Dinesh Tejwani

    CA. Dinesh Tejwani is a B.Com. (Hons.) Accouting , FCA, DISA. He is founder of Dinesh Tejwani Classes, Jodhpur. He is renowned faculty of Direct Tax and Indirect Tax (GST).

    He has 17 years of experience and teaching since 22-8-2002. He has taught over 4500 students of CA IPCC  / Intermediate and CA Final in face to face class in Jodhpur, Rajasthan.


    Tax Amendments for May 2019 exams available on our you tube

  • Handbook on E-Way Bill Under GST


    E-waybill under GST is a document containing details or/and instructions relating to the shipment of a consignment of goods. The details include name of consignor, consignee, the point of origin of the consignment, its destination and distance to be travelled. Electronic Way Bill is a compliance wherein by way of a digital interface, the person causing the movement of goods uploads the relevant

  • Guide on GSTR-4

    What is GSTR-4 Annual Return?

    Taxpayers Registered under composition scheme is required to file GSTR-4 Annual Return with effect from 1st April, 2019, on annual basis, for each financial year. Despite of filing Quarterly return under composition scheme taxpayer now require to file GST-4 only at once, Annual basis. Under this return taxpayer is required to file the details of its business regarding summary of outward supplies, Inward

  • Job Prospects for CA- Comparison CA Vs MBA

    Below The article describes best career advice for CA and its comparison to MBA Students.

    The training for CAs is a highly elaborate procedure. Aspiring chartered accountants should pass the intermediate exam within ten years of the commencement of their practical training. During the training period candidates would be required to work in different areas learning the basics of auditing and taxation. This enables them to learn the

  • Handbook on Companies Fresh Start Scheme 2020-21

    The entire economy of the nation is stagnant due to the current lockdown announced by the ruling in order to protect people from the COVID-19 pandemic. All the government authorized regulatory bodies are doing their best in providing relief to the individuals residing in India. One such organization is the Ministry of Corporate Affairs (MCA) that has come up with a