The festival of Christmas is being celebrated all over the world very joyfully. In this festival Santa Clause make exchange of gifts to all. Children enjoy the festival very joyfully. All religion teaches same spiritual thoughts. All people should live and let others live happily and peacefully. To teach good thoughts is the only […]
Inter-State Vs Intra State – Sale/Purchase Registered dealers are eligible for certain concession or exemption of tax on inter-State transactions Under the Central Sales Tax Act, 1956 (in short CST), if dealer is able to comply with certain conditions.
If Internal Audit report is carried out fairly it becomes very crucial document for Statutory Auditors, The statutory auditor may use internal audit report in a meaningful manner and can perform his duties in a better way. Which can help to perform Statutory Auditor’s while performing their Final Audit. Internal Audit report is a very […]
Service Tax on Real Estate Transactions APPLICABILITY: Service tax on real estate transactions implication on almost every sector, and real estate is no exception. With the introduction of the negative list concept since July, 2012, the scope of applicability of Service tax has increased manifold . A summarized analysis is contained herein providing guidance on […]
Income of Trusts In India there are many religious/charitable trusts for e.g. temples, Ashram, Gurudwaras, hospitals, educational, etc. propagating and working for social and charitable activities. What about their financial and taxing matters? These trusts have to follow many regulations. Mainly they have to follow the rules of Bombay Public Trust Act (For Maharashtra State), […]
Tax Exemption on Leave Travel Allowance We looked at the conditions governing tax exemption on leave travel allowance (LTA). In this post we will look at the calculation of the tax exemption amount. The exemption is available only on travel expenses (ticket fare etc.) incurred by the employee on leave travel. Expenses on local conveyance, […]