Accounting Standards: A Rhythm 1 discloses Accounting Policies, 2 is for Valuation of Inventories. Cash Flow is there in AS 3, AS 4 Post BS date, contingencies & events, the way one can treat. Now we talk about for AS 5,

How deductor can Submit Self-Declaration for Lower Deposit of TDS Centralized Processing Cell (TDS) has started sending notices to those deductors who have paid 40 to 60% lesser TDS during the period from April 1 to October 15, 2015 as compared to the corresponding period in Financial Year 2014-15. If as a deductor you have […]

CIT can invoke jurisdiction u/s 263 if assessment order was based on inadequate or improper enquiry Case Law Citation: PVS Multiplex (India) Ltd. Vs. CIT (ITAT DELHI), ITA No. 2370/Del /2013, Date of Decision: 14.08.2015 Brief of the case: In the case of PVS Multiplex (India) Ltd. Vs. CIT Delhi Bench of ITAT held that […]

Income Tax Benefits on Various Plans of LIC for FY 2015-16 IMPORTANT INCOME TAX BENEFITS AVAILABLE UNDER VARIOUS PLANS OF LIFE INSURANCE FOR ASSESSMENT YEAR 2016-17/FINANCIAL YEAR 2015-16 1) Deduction allowable from Income for payment of Life Insurance Premium (Sec. 80C). (a) Life Insurance premia paid in order to effect or to keep in force […]