Turnover/gross receipts – Transactions in shares, securities and derivatives Turnover Meaning for Share Broker According to paras 5.13 of the 2014 Guidance Note issued by Institute of Chartered Accountants of India, Share brokers, on purchasing securities on behalf of their customers, do not get them transferred in their names but deliver them to the customers who… Read More »
Income Tax on Shares /Securities Trading : Free Study material Here is the Free Study Material on Income Tax on Share Trading CBDT : 24 FAQs on Long Term Capital Gain on Shares as proposed in Finance Bill 2018 Tax on long term gain on Transfer of equity share : Govt invites Comment Unlisted shares… Read More »
GST Amendments: Changes to include RCM, return filing, refund on exports Video Tutorial by CA Satbir Singh (Voice in Hindi , Slides in English) explaining GST Amendments Coming Soon About 35 amendments being finalised in Goods and Services Tax (GST)-related laws. These Amendments includes Clarification for refunds of cess on goods to be exported, changes in the… Read More »
Tuition Fees Deduction under Income Tax Act (India) Section 80C The taxpayer can claim deduction under section 80C in respect of amount paid by him during the year towards tuition fees (excluding development fees, donation or similar payments) paid at the time of admission or thereafter, to any university, school, college or other educational institution… Read More »
My wife, whose annual income is less than Rs 2.5 lakh, has been filing her income-tax return. Can I deposit money in her Public Provident Fund (PPF) account and claim Income tax Deduction under Section 80C in my Income Tax Return? Yes You can claim deduction under Section 80C of Income tax Act for the amount deposited… Read More »
TAX TREATMENT OF CASH CREDITS Income tax Treatment of cash credit [As amended by Finance Act, 2018] Any sum found credited in the books of the taxpayer, for which he offers no explanation about the nature and source thereof or the tax authorities are not satisfied by the explanation offered by the taxpayer, is termed as… Read More »
GST and Income Tax Calendar GST and Income Tax Calendar i.e Due Dates june 2018 This article compiles month wise Due dates for E-payment of Goods and Services Tax, Various GST Return Filing dates, Submission of Form No. 27C (TCS), Payment of TDS/TCS , Return of TDS, Payment of Advance Income tax by All Assessees (100%)(including 44AD… Read More »
Don’t use cash for these transactions w.e.f 01.04.2017 S. no. Section Cap on cash transaction Penalty for cash transaction 1. 13A -Exemption to political parties Receipt of cash donation above Rs 2,000 No exemption 2. 40A(3)- Disallowance for cash expenditure Payment of any expenditure above Rs. 10,000 No deduction Payments for plying, hiring or leasing… Read More »
GST Refunds (Special Drive Refund Fortnight From 31-5-2018 to 14-6-2018) by Aditya Singhania (Author) Description Incorporating: Refund procedures Refund of excess payment of tax Refund of excess balance in electronic cash ledger Export Procedures Export of goods and /or services on payment of IGST Export under bond or letter of undertaking SEZ Refund Procedures Deemed exports Miscellaneous… Read More »
GST-Paper 4 : Taxation (Section B : Indirect Taxes)(CA-Intermediate) (For November 2018 Exams-As Per New Syllabus) Description Simplified theory Fully solved numerical problems All amendments upto 30th April 2018 Also suitable for CS-Executive Course Price Rs 490.Click to buy online Author : V.S. Datey Edition : 2018 Edition Date of Publication : June 2018 ISBN No.:9789387957220 Binding : Paperback… Read More »