Interest Rates for Small Savings Schemes for 2nd Quarter FY 2016-17 Quarterly Revision of Interest Rates for Small Savings Schemes On the basis of the decision of the Government, interest rates for small savings schemes are to be notified on quarterly basis. Accordingly, the rates of interest on various small savings schemes for the second quarter of […]
START UP has no tax on issuing shares above market value CBDT has notified the Tax Exemption to the Start ups on issuing shares above market value as per the Notification Enclosed. Issuing shares above market value is taxable as per Section 56(2)(viib) of the Income tax act. But the central government can exempt certain […]
Mistakes in filling of Income Tax Return – How Avoid In case the computation of Income or refund is different than what had been entered or what is expected, please verify the accuracy of the data entered by you in the ITR. Except for limited number of complicated tax returns, for most taxpayers, the simple […]
Auditor Duties and Reporting under Companies Act 2013 Duty of the Auditor to Inquire :- Amongst other matters, Auditor has to inquire into the following matters, namely:— (a) whether loans and advances made by the company on the basis of security have been properly secured and whether the terms on which they have been made […]
Notwithstanding Meaning The expression “notwithstanding” is potent and it could mean only “despite”, “in spite of” and “nevertheless” (see Khaizar Basha v. Indian Airlines Corpn. AIR 1984 Mad. 379).