Effectiveness and Efficiency of the Internal audit process

Views: 169 The internal audit function is one of the most essential support functions for any organisation which if utilized to its fullest potential can result in tremendous benefits for the organisation including better functioning controls, better risk management and compliance, lesser leakages of funds...

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Snippet of Changes in New ITR Forms for AY 2017-18

Views: 197 The CBDT has notified new income-tax return forms (ITR forms) for the assessment year 2017-18. It has prescribed simplified version of ITR-1 with fewer columns. A new column has been inserted in ITR Forms to report cash deposits in banks above 2 lakhs...

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Service Tax and Financial Advisors

Views: 173 Financial advisors should Know Service Tax compliance before 31st March 2017 While Service Tax has come under forward charge mechanism, there is still huge ambiguity for each advisor around the compliance with the same. Below we list out a few practical Q&A, relevant...

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Place of Supply of Services in GST Regime

Views: 204 Place of supply is very important in determining whether a particular supply would constitute an interstate supply or an intrastate supply.   General Principles: Except for the specific cases mentioned in this article the place of supply will be determined as per the...

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Time of Supply under Model GST Law the Dilemma

Views: 111 Time of Supply -Section 12  under Revised Model GST Law may be not suitable for some Industries. Can you think of payment of Excise duty / Sales tax before clearance/sale of the goods? Shockingly, GST expects payment of GST even before supply. Section...

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The Finance Bill 2017 Cleared in LS

Views: 111 The Finance Bill 2017 with 40 amendments passed in Lok Sabha The Finance Bill 2017 passed in Lok Sabha. Various amendments have been made in the Bill, One of the important amendments was making Aadhaar number mandatory for filing of Income Tax returns....

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Cash transaction related proposals in Budget 2017

Views: 787 In a bid to Cashless Economy Mission, the Government has proposed many provision to curb cash transactions in Budget 2017   After a few days, the new financial year 2017-18 is being commenced, Government has tightened screw on cash transactions in Budget 2017....

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Top 10 Investment Mantras to Invest in stock market

Views: 72 Top Investment Mantras from world famous Investors to invest in stock market : 1.  Aggressive but with caution – Your approach must be realistic when you invest in stock market.There is something for being too pessimistic about a certain stock market condition. Moving...

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Compliance of Anti-profiteering clause in GST Law

National Anti-profiteering Authority

Views: 242 As per Central Government’s point of view, The Price Control and Anti-Profiteering Law is essential to diminish concerns among consumers to ensure that vendors will not unreasonably increase prices of goods and services in anticipation of the introduction of the Goods and Services...

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FAQ on Advance Income Tax Payment

Views: 350 Advance Income Tax – Financial year 2016-17 is on the brink of the completion, let’s discussed on it. Q.1. What is Advance Income Tax? Ans. Advance tax is a payment tool in which tax is deposited by assessee in installment instead of lump sum...

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