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04 March 2016 at 11:54

Budget 2016-17 - Income Tax & some other comments

  POSTED BY Mahesh Kapasi

Introduction: This year�s overall Union Budget is just like an election budget- trying to please more of poor voters-nothing is wrong in it but schemes launched for them must be

  1 comments |   1025 Views

29 February 2016 at 12:14

EPCG- Introduction and Procedure

  POSTED BY kalpesh Veer

Introduction:-EPCG scheme enables a Indian manufacturer all service provided to obtain capital goods at nil rate of customs duty against commitment of export obligation. The objective is to facilitate import of capital goods producing quality goods a

  0 comments |   935 Views

28 December 2015 at 11:00

GST Returns: Whether a Compliance Nightmare?


GST RETURNS: WHETHER A COMPLIANCE NIGHTMARE? By CA Madhukar N Hiregange & Adv. K.S.Naveen Kumar Introduction: A return is a mirror reflection of the state of financial affairs of an assessee for a specified period. It serves as an important link

  0 comments |   1205 Views

09 December 2015 at 17:49

Income tax Law vs. Property Law- A Case (Law) Study

  POSTED BY vswaminathan

PROLOGUE: The topic calling for a critical analysis is the Judgment of the SC rec

  8 comments |   2027 Views

24 November 2015 at 13:36

Settle past tax disputes before GST implementation


Settle past disputes & then move to GSTBy Madhukar N Hiregange, CA & K S Naveen Kumar, AdvocateA. Prelude:THERE are many disputes pending in the present indirect tax laws (both Central and State laws), which are at various stages viz., adjudication o

  0 comments |   881 Views

12 November 2015 at 16:23

Registration process under GST


Registration process under Goods and Service Tax (GST) A. Prelude:The success of GST would depend to a large extent on a robust GST Network as it will be the medium of sharing information between t

  0 comments |   1515 Views

05 November 2015 at 15:31

GST Payments - Analysis of Processes


Payments under GST - Business Process - By CA Madhukar N Hiregange & Adv. Naveen Kumar K S Introduction:The Joint Committee has submitted its report on various business processes in April 2015 and it was made public in October 2015. The report on

  0 comments |   928 Views

03 November 2015 at 15:16

Interpretation of Partnership Deed to ascertain the tax liability

  POSTED BY Anupam Lahiri

The write up is based on an old Supreme Court Case in the name of Commissioner of Income Tax, Patiala Vs RB Jodha Mal Kuthiala AIR 1966 SC 1433. The statute concerned is Income Tax Act, 1922 as amended by Income Tax (Amendment) Act, 1939 (1939 Act).F

  0 comments |   866 Views

27 October 2015 at 11:55

Introduction of goods and ST in 2016 - A myth or reality?


Media reports and press statements by Government Officials seem to suggest that the Union Government is keen to introduce Goo

  0 comments |   785 Views

26 October 2015 at 11:06

Refunds w.r.t service exports under GST


Prelude: Export refunds are often a subject matter of dispute and bone of contention between the exporter and the tax department in the context of indirect

  0 comments |   538 Views

10 July 2015 at 10:34

We must oppose GST in present form

  POSTED BY Anil Kr Garg

Goods and Services Tax (GST) being implemented, is held out to be the biggest tax reform in India since independence. As an entrepreneur, I find it a complete farce and colossal waste of opportunity while still incurring huge cost of implementation t

  7 comments |   1411 Views

26 June 2015 at 11:07

Time-Time Ki Baat hai - Part 2

  POSTED BY Saurabh Bajaj

�Hey Niraj, am back to seek your help again� said Uncle Shrikant to his nephew Niraj Desai.�Completely my pleasure uncle, please tell me, how can I be of help to you.� Said NirajShrikant: As you know, my younger son, Aakash is

  0 comments |   1232 Views

15 May 2015 at 11:35

MAT: Is Retrospective tax is back?

  POSTED BY karan

IntroductionThere exists proverb in English �Once bitten, twice shy�. This proverb doesn�t hold well in case of Indian tax system. After facing the Backlash from the international investors in case of Vodafone retrospective case whi

  0 comments |   1325 Views

18 March 2015 at 13:30

Applicability of Service Tax in E-Commerce: An analysis

  POSTED BY karan

INTRODUCTION There has been so much euphoria with regard to Indian E-commerce story and is on track to become the world�s fastest growing e-commerce market. This growth story is being driven by robust investment activity by VCs, Angels and the

  3 comments |   2821 Views

17 February 2015 at 15:03

Black money


Black money refers to funds earned on which income and other taxes have not been paid. This money is largely accumulated from: 1. Lower income declared by Businessman in Income tax returns. 2. Money of Politicians & Government official creat

  7 comments |   2593 Views

23 January 2015 at 11:02

Time-Time ki baat hai - Part 3

  POSTED BY Saurabh Bajaj

�Look Who�s here !! Mr. Desai, Good to see you.� said Mr. Suren Mehta, a retired banker. He was sitting with few other friends, Mr. Ajit Khanna and Mr. Rajat Ghosh, in a park as their daily routine in retirement days. He suddenly s

  2 comments |   1742 Views

27 December 2014 at 12:30

Goods & Service Tax via Dual GST & GST Council Era - Part I

  POSTED BY anand mishra

Goods & Service Tax (GST) is a regime of Uniform Tax. A regime in which multiple indirect taxes will be the talk of past and indirect taxes will be subsumed in GST. A. Taxes to be Subsumed in GST The following taxes will be subsumed under

  1 comments |   2103 Views

16 December 2014 at 10:53

Abolish departmental appeals and SDMs

  POSTED BY Anil Kr Garg

Almost all tax statutes provide for first appeal against any tax demand or assessment order, to an officer of the same department, assigned the role of an appellate authority who is supposed to be a quasi-judicial authority, in the sense that despit

  1 comments |   999 Views

12 December 2014 at 11:08

Five rare benefits of filing regular 'Income Tax Returns'

  POSTED BY Ferry Dhiman

Five rare benefits of filing regular �Income Tax Returns� What is the benefit of filing income tax return? this is the first question when a client ram into the office of a CA or Tax lawyer . Genera

  0 comments |   2630 Views

26 November 2014 at 10:55

The Hare Could Win Here !!

  POSTED BY Saurabh Bajaj

This is the story of 2 friends viz Amar and Rakesh. Both were from middle-income family backgrounds. Both joined same company at the same salary level of around Rs. 23,000 p.m. We all have heard the story of a hare and tortoise wherein the hare wa

  0 comments |   919 Views


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