: For Finance Professionals & Students

Monthly Archives: April 2016

F Form Under RVAT & CST Act, 1956

Section 6A of the Central Sales Tax Act, 1956 provides that in case the goods are transferred by a dealer from the state of Rajasthan to his another place of business outside the state of Rajasthan or to his principal or his agent outside the state of Rajasthan then he is not required to pay tax on transfer of such goods outside the territory of Rajasthan.

Analysis of draft rules for grant of Foreign Tax Credit

Computation of Foreign Tax Credit (‘FTC’) in case of assessee’s with cross border tax payments has been a major hassle for tax professionals. Absence of well-defined set of rules, coupled with few judicial precedents had resulted in diversified practices. The proposed draft rules regarding grant of relief under section 90/90A/91 of the Income Tax Act, 1961 (‘Act’) will help provide much needed clarity in an area which was until now marked by diverse interpretations. This will help reduce the hassle in claiming credit on tax paid in other countries and help achieve the Government’s vision for non-adversarial tax regime.

VAT 15 – Rule 21 of RVAT Act 2003


RVAT Act other than VAT 47 and VAT 49, as these declaration forms has already been discussed in detail in another separate article. VAT 15 :- The rules provides that if a dealer sale goods to another dealer in the state on the condition that the purchasing dealer will export those goods outside the territory of India then the selling dealer can claim exemption from payment of tax on sale of such goods.

Bonds, how to choose in falling interest rate regimes?

Bonds and debentures are terms used interchangeably; both represent long term fixed income securities. The cash flow stream (in form of interest and principal) as well as the time horizon (i.e. the date of maturity) are well specified and fixed. Bond returns can be calculated in various ways; Coupon Rate, Current yield, Spot interest rate, Yield to maturity (YTM), Yield to call (YTC), Realized YTM.

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