CA degree trust with your destiny

CA degree trust with your destiny “If the tax auditor certifies that these are the heads, the officer has no discretion. The Income tax Officer has to accept the tax audit certificate unless it turns out to be a patently false certificate. We will accept the certificate of the auditor.” Stated the Union Finance Minister, […]

Profit and Gain under presumptive basis vis-a-vis Section 115JB

Profit and Gain under presumptive basis vis-a-vis Section 115JB As the number of zero tax companies and companies paying marginal tax had grown, the Minimum Alternate Tax Provision has been inserted in the Income Tax Act. It was felt that various concession given under the tax laws, big corporate groups become zero tax companies, to […]

Provident fund under the Head of Business or Profession

Provident fund under the Head of Business or Profession In this particular article I wish to share some of my views about provident fund contribution by the Employer and Employee, its Taxability and deduction under the head of Business or Profession.  The main objective of the provident fund is to give retirement benefit in the […]

F form under CST Act can cover transactions of a period more than one month

F form under CST Act can cover transactions of a period more than one month Calcutta High Court in Cipla Limited vs Deputy Commissioner, Commercial Tax reported as VSTI 2013 Vol. 17 B-509 has held that There is nothing in Rule 12(5) of CST (R&T) Rules which could be construed to vitiate a declaration form […]

Changes in Audit and Auditors- Companies Act, 2013

Changes in Audit and Auditors- Companies Act, 2013 The companies act, 2013 has come into existence on 29.08.2013 that replaces a nearly six decade-old legislation and overhauls the way corporate function and are regulated in the country. This article contains the description of some provisions related to audit and auditors which have been modified in […]

MCA notifies some sections of new company law

MCA notifies some sections of new company law The Ministry of Corporate Affairs notified some key sections of the new Companies Act. MCA notified 98 sections of the new Act, it said in a press note. The sections so notified will come into effect from September 12. “These are independent sections, which do not require […]

Tax Audit Problems & Solutions

Tax Audit Problems & Solutions FREQUENTLY ASKED QUESTIONS ON E-FILLING OF TAX AUDIT PROBLEMS – TECHNICAL ISSUES 1. STEPS FOR FILLING ONLINE TAX AUDIT REPORT What are the steps to be followed for E-filling of Tax Audit Report? Step 1- One Time Registration of Chartered Accountant at E-filling website Step 2 – Login to Assessee […]