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Search results for: section 54

Expectations of Middle Class From the Upcoming Budget 2017

GST is on the way and still, there is a lot to improve the statistics as the all of the finance ministry is looking up the best measures to fix the new tax regime in the best possible way. In this year, there is a significant event to take place which will affect many in a similar way, and that is Budget 2017 heading in February.

Audit Commissioners to Get Adjudication Powers Under GST

The GST taxation scheme would be changing the names of the upper-level department upon its arrival, as the newly suggested name of the department of central excise, customs and service tax can be considered as a department of GST and customs in the direction of the merging department of GST and customs.

Easy Steps of Filing ROC Return with E-Forms (New Guide)

What is ROC Filing? Every company is required to file the Audited financial statement and annual return as per The Companies Act, 2013 within 30 days and 60 days respectively from the conclusion of the Annual General Meeting date. Filing of an Audited financial statement is governed under Sections 129 and 137 of The Companies […]

tax exemptions

Tax Exemptions, Eligibility and Incentives for Startups in India

The Prime Minister of India, Shri Narendra Modi announced some visionary goals to enhance the Startup ecosystem in the country. Promoting the Startup ideology, the PM brought up the Startup India initiative. The initiative is proposed to fulfil the needs of struggling entrepreneurs and encourage them to work in a more feasible manner. Notedly, the […]

The Companies Auditor’s Report Order – CARO 2016

What is CARO? Sec 143(11) of the Companies Act, 2003 requires that the auditor’s report of specified companies should include a statement on the prescribed matters. These reporting requirements have been prescribed under the Companies(Auditor’s Report) Order, 2016. Latest Update 26th July 2021 ICAI has officially announced that the CARO 2016 is applicable to the […]

Income Tax Return eFiling Guide

Very Important Things Before Filing I-T Returns Online

If you are a salaried person, you must have got your Form 16 from your employer If the total income is more than Rs 5 lakh one has to mandatory go for e-filing. Also, refund of taxes becomes much faster when you opt for e-filing. These days one has various options through which he/she can […]

Changes in TDS Provisions w.e.f. 1st June 2016 – Budget_2016

1. Section 192(A) – Payment of an accumulated balance of PF due to an employee. The threshold limit increased to Rs. 50,000 from the prior limit Rs. 30,000 for the purpose of deducting TDS. Means, no TDS applicable if PF withdrawal amount is less than Rs 50,000. 2. Section 194BB – Wining from Horse Race, […]

Budget 2016: A Few Legal Ways to Minimize Pay Tax

The recently announced Union Budget 2016-17 has not made a positive impact on many of the Indian salaried employees and left them wondering whether they are rich or poor. But, in this whole mess of provisions, there’s a lot of ways that would help you out in saving your bulk of tax. To help you […]

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