Transfer of property between firm & partners –Taxation aspects Introduction: S. 45(3) and S. 45(4) were brought in to the statute book to deem pooling of assets by partners in to the firm and distribution of assets by the firm to partners on dissolution or otherwise, as transfers for tax purposes with a view to […]
Industrial workers to get only cashless payments soon A Bill – Payment of Wages (Amendment) Bill, 2016 – has been prepared which will be tabled after the Cabinet approves the measure that Industrial workers to get only cashless payments.
Service Tax not payable when single transaction value is below INR 2,000/- paid through card Notification Number 52/2016 – Service Tax dated 8th December, 2016 has been issued to add new entry number 64 to the mega exemption notification number 25/2012-Service Tax. The notification is coming into effect from 08th December, 2016.
CREDIT NOTE AND DEBIT NOTE UNDER GST Credit Note As per section 2(35) read with section 24(1) of model GST law, where a tax invoice has been issued for supply of any goods and/or services and the taxable value and/or tax charged in that a tax invoice is found to exceed the taxable value and/or […]
Year-end special: Invest in smallcap mutual funds with a long-term view Several top-performing smallcap mutual fund schemes rewarded investors handsomely in 2016. Their impressive performance was against the backdrop of many doomsday predictions for the sector. Many market pundits have been predicting a sharp correction in smallcap stocks for a while now