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Monthly Archives: July 2016

Carry Forward and Set Off of Losses

whilst one endeavors to derive earnings, the opportunity of incurring losses cannot be dominated out. based at the ideas of herbal justice, a fixed-off must be to be had for loss incurred. The earnings tax legal guidelines in India comprehend this and offer for adjustment and utilisation of the losses. however, there are conditions which have been added to save you misuse of such provisions.

Income Tax audit under section 44AB

Articles deals with Tax Audit Provisions in India. It explains what’s tax audit, goal of tax audit, who is compulsorily required to get his money owed audited, What are form Nos. 3CA/3CB and 3CD, Due Date for Tax Audit, penalty for now not getting the accounts audited as required by section 44AB.

Personal properties of directors can’t be attached to recover sales tax due of company

Akil Kureshi, J. – Leave to delete petitioner no.1. The remaining petitioners have prayed for quashing and setting aside an order dated 9.11.2015 passed by the respondent no.1 attaching their immovable properties for a possible valued added tax dues of R. 2.17 crores of one Different Solution Marketing Private Ltd., a company and to whom these petitioners are directors.

Is Chilling of milk not liable for Service Tax ?

1.The appellant is engaged in chilling of milk for M/s. Jaipur Zila Dugdh Utpadak Sahakari Sangh Ltd.

2. Ld. Advocate argued that as per Chapter Note 6 of Chapter 4 of Central Excise Tariff the process of chilling of milk amounts to manufacture and therefore the said activity is outside the purview of service tax as it would not be within the purview of service.

Presumptive earning  under income Tax Act, 1961

Presumptive earnings is the idea introduced with the aid of the earnings Tax department beneath the Presumptive Taxation Scheme with a view to permit the assessee to disclose his profits on presumptive foundation under the relevant sections and their provisions thereof. allow us to understand them in detail.

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