Month: May 2016

Service Tax Related advance Ruling

Service Tax Related advance Ruling
The businessman would like to be clear in his mind about various aspects of his venture and risks involved. He would like to get clear verdict about his doubts in

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Internal financial control (IFC)

Internal financial control (IFC)
What is Internal Financial Control (IFC)? (Sec 134)
As per Section 134 of the Companies Act 2013, the term ‘Internal Financial Controls’ means the policies and procedures adopted by the company

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Steps to control risk in your investment portfolio

Steps to control risk in your investment portfolio
Any investor would agree that ignorance and lack of awareness in the investment field can prove to be expensive. In the world of finance and investment, risk

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Service tax Interest rates changed again !

Service tax Interest rates changed again !
There are two provisions under Finance Act, 1994 dealing with interest on delayed payment as given below:

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TCS on sale of Goods and Services

TCS on sale of Goods and Services
Section 206C
Tax Collected at Source:
“TCS is the Tax Collected at Source by the seller (collector) from the buyer(collectee)”. Every person, being a seller, shall collect tax

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Impact of Krishi Kalyan Cess – Service tax

Impact of Krishi Kalyan Cess – Service tax
Introduction
Service tax rate has been proposed to increase from 14.50% to 15% effective from 1st June 2016.It is also clear that till 1.6.2016, service tax shall

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