28 September, 2016

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Amnesty Scheme for Developers and Builders under Haryana VAT–In Depth Analysis by CA Ankit Gulgulia (Jain)

Amnesty Scheme for Developers and Builders under Haryana VAT–In Depth Analysis by CA Ankit Gulgulia (Jain)

Haryana Government vide Notification No. No 19/ST-1/ H.A. 6/2003/S.59A/2016 dated 12th September, 2016 launched much awaited Amensty Scheme for Developers- Haryana Alternative Tax Compliance Scheme for Contractors, 2016 (hereinafter referred to as ‘Amnesty Scheme’). The potentially trade smoothening scheme provides Developers/Builders with an option to discharge their Value Added Tax (VAT) obligation at flat rate of 1.05% (VAT + Sur-charge) of the entire aggregate amount received/receivable for the business carried out during the year for the period prior to 31.03.2014. What constitutes ‘aggregate amount’ is a Pandora box in itself which we shall discuss in this article later on.

05 September, 2016

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DGCEI Cannot Arrest Assessee without SCN or Enquiry

DGCEI Cannot Arrest without SCN or Enquiry - The High Court has held that officers of Directorate General of Central Excise Intelligence (DGCEI) cannot make an arrest without issuance of SCN in case where the assessee is regularly filing Service Tax-returns which have been examined/accepted by the department. It was also held that DGCEI cannot by-pass the procedure as set out in Section 73A (3)&(4) of the Finance Act, 1994 before going ahead with the arrest of a person under Sections 90 & 91 of the said Act.

16 August, 2016

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Buy Book on GST India Online–by CA Ankit Gulgulia (Jain)

Buy Book on GST India Online–by CA Ankit Gulgulia (Jain)

 

Dear All,

 

I am immensely pleased to share about the launch of Our Book on GST - "Capsule on Model GST Act, 2016" {Approx 250 Pages}

 

The Hard Copy of book can be Ordered from Link Below and will be delivered at your Doorstep.

 

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https://www.payumoney.com/webfronts/#/index/charteredonline

 

About the book

A comprehensive understanding on law relating to Model GST Act, 2016

  • A comprehensive apprehension on almost all topics pertaining to Goods and Service Tax.
  • A Handy, Authentic and Clutter free Capsule of Model GST Act, 2016.
  • This Book contains lucid and tabular presentation of various topics of Goods and Service Tax for an easy understanding to our readers.
  • Each topic explains and discusses the statutory provisions in detail.
  • Exhaustive subject index helps in quickly referring to relevant topic.
  • Point-wise index helps reader in locating the relevant topic quickly.

 

--

Thanks & Regards,

CA Ankit Gulgulia (Jain)

B.COM (H), CA, CIFRS, CBV

 

26 July, 2016

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Taxability of Salaried Employees - Benefits & Deductions

Taxability of Salaried Employees - Benefits & Deductions

 

As tax season approaches, you may be clueless and may run in rush hour to your tax advisor. This may end up in last minute glitches like no investment proofs or lesser tax saving investment, etc. , which may result in unnecessary tax burden to you. We will try to focus on important exemptions and deductions, which you can look at while you are preparing for the return filing season.

23 July, 2016

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Legal Factors The Startup Entrepreneur Must be Aware of While Running Business

Legal Factors The Startup Entrepreneur Must be Aware of While Running Business

 

Starting a new business or a startup is a very crucial decision made by a person. It involves many strategies that can either make or break a business. Apart from having a good team, attractive product and service delivery system, good marketing and sales strategies and increased funds and social media recognition, there are chances of shutting down the business if they face some serious legal issues.

20 July, 2016

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What is Minimum Alternate Tax (MAT) - Complete Details

What is Minimum Alternate Tax (MAT) - Complete Details

 

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MAT (Minimum Alternate Tax) is a preventive mechanism for tax evasion implemented by Income Tax Department. This article will throw light on every important detail, which you need to know about MAT.

18 July, 2016

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Common Mistakes to avoid during Income Tax Filing

Common Mistakes to avoid during Income Tax Filing

A wise man said once, “There is nothing certain in life, other than death and taxes.” And you know it’s true. Well for those, who have been facing the rush and heat which comes with Return filing season, this article is a godsend. So tune in and watch out for those mistakes, which you can avoid this tax season.

15 July, 2016

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Go Go Go !!! File your Income Tax Return to Avoid Penalty & Interest

Go Go Go !!! File your Income Tax Return to Avoid Penalty & Interest

Income Tax might be the first thing on your mind, given that tax season is approaching. Some of you might be just way ahead of all others and finished tax computation and tax payment if any. But for those, who are still relaxed and are not yet gathered tax related documents, this article is for you.

05 July, 2016

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What are Cash Credits & its Tax Treatment

What are Cash Credits & its Tax Treatment

Cash credits has been matter of debate because these represent unaccounted money. This has been considered source for black money which if unexplained or not explained to the satisfaction of the AO (Assessing officer).This article will deal into cash credit and its taxation.

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Tax Liability on Partnership Firm or LLP

 

Tax Liability on Partnership Firm or LLP

Introduction

 

In India Partnership firm are common due their simplicity. Partnership firms are easy to organize. According to Indian legal framework they are not separate legal entity from the partners.

 

Limited Liability Partnership (LLP) is a new concept in the context of India. Earlier the there were concerns related to taxation of the LLP. In Finance Act 2009, all the confusion was removed and it was made clear the LLP will be taxed similarly to the partnership firm.