Practicing Chartered Accountant be a Karta of HUF or not ? There is no specific qualification is required to act as Karta of a HUF. So a CA can also act as KARTA of a HUF under Hindu Law.However, he is subject to restriction as per respective enactment governing our right of practice. The ICAI […]
Self Assessment To Selfish Scrutiny – Service Tax With effect from 1st August 2015 Department is coming out with a strong ‘return scrutiny system. It is going to be a two part system of Preliminary and Detailed Scrutiny.CBEC has issued Circular No.185/4/2015 – Service Tax dated 30th June 2015 providing instructions on detailed manual scrutiny […]
Points to be in mind while Filing Income Tax Return 1. Due date of Filing of Income Tax Return has been extended till 31 August 2015 for the Assessment Year 2015-2016. 2. Maximum amount of deduction available under Chapter VI A has been extended from Rs.1,00,000 to Rs.1,50,000 includes payment for LIP,PF, PPF, NSC,New Pension […]
e-Verification of Income Tax Returns CBDT vide Notification No. 2/2015 prescribes Electronic Verification Code (EVC) for electronically filed Income Tax Return as an alternative mode of verification. EVC would verify the identity of the person furnishing the return of income.The Manual Covers e-Verification of Income Tax Returns in following Circumstances and provides 3 to 4 […]
Best Judgment Assessment In Service Tax The provisions of best judgment assessment was omitted w.e.f. 10th September 2004 by the Finance Act, 2004 and again reinserted w.e.f. 10.5.2008 by the Finance Act, 2008 vide Section 72. Section 72 provides for best judgment assessment as follows – If any person, liable to pay service tax – […]