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Articles by AMIT BAJAJ ADVOCATE

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SOME ISSUES PERTAINING TO C FORMS UNDER CST ACT 1956

  AMIT BAJAJ ADVOCATE   16 September 2010 at 23:50

SOME ISSUES PERTAINING TO C FORMS UNDER CST ACT 1956 Under CST Act 1956 there are lot of Forms and declarations which help in saving CST on the interstate transactions. C form is an important and foremost common among dealers registered under CST ..


Posted in Taxation  2 comments |   6857 Views


Development of IT infrastructure must before GST

  AMIT BAJAJ ADVOCATE   27 August 2010 at 14:32

Goods and Service tax (GST) is the most talked about topic in the field of indirect taxation today in India. Everybody is keenly waiting for the proposed GST draft which will replace the existing system of VAT in India. The central government wants ..


Posted in Taxation |   3360 Views


PROCEDURAL PROVISIONS RELATING TO TDS

  AMIT BAJAJ ADVOCATE   20 August 2010 at 12:36

PROCEDURAL PROVISIONS RELATING TO TDS AND FILING OF TDS STATEMENTS UNDER INCOME TAX ACT 1961 T.D.S means the Tax deducted at source. Whenever a person liable to deduct tax of another person under Income Tax Act, deducts tax, the credit of such ta ..


Posted in Taxation |   6052 Views


PRESUMPTIVE INCOME SCHEMES FOR SMALL ASSESSEES

  AMIT BAJAJ ADVOCATE   20 August 2010 at 12:36

PRESUMPTIVE INCOME SCHEMES FOR SMALL ASSESSEES UNDER INCOME TAX ACT 1961 There are many presumptive income schemes for small businessmen engaged in civil construction, transport business, retailers etc. A person covered under these schemes can ..


Posted in Taxation |   10259 Views


FILING INCOME TAX RETURN AFTER DUE DATE

  AMIT BAJAJ ADVOCATE   20 August 2010 at 12:36

FILING INCOME TAX RETURN AFTER DUE DATE The due date for filing income tax return for corporate aseessees and other aseessees who are required to get their accounts audited under Income Tax Act 1961 or under any other law for the time being i ..


Posted in Taxation  2 comments |   16820 Views


A big Flaw and Mistake in The Punjab VAT Act 2005

  AMIT BAJAJ ADVOCATE   17 August 2010 at 15:15

A big Flaw and Mistake in The Punjab VAT Act 2005 There are many sections under the Punjab VAT Act where the word Designated officers is used. Many powers under the Punjab VAT Act 2005 like of assessments, of levying penalties etc have been co ..


Posted in Taxation |   3010 Views


Undestanding the provisions relating to transfer pricing

  AMIT BAJAJ ADVOCATE   19 July 2010 at 02:43

Understanding the provisions relating to Transfer Pricing under Income Tax Act 1961 With the advent of MNCs(Multi National Concerns) a trend has also been adopted by the MNCs to structure their investments and business strategy in such a way that pr ..


Posted in Taxation |   3194 Views


Efiling of Income Tax Return made compulsory for Individuals

  AMIT BAJAJ ADVOCATE   14 July 2010 at 14:40

Efiling of Income Tax Return made compulsory for Individuals and HUFs who are covered under section 44AB The Efiling of ITR 4 has been made compulsory by the Income Tax Department for the Assessment year 2010-11 for those individuals and HUFs who ar ..


Posted in Taxation  3 comments |   6220 Views


Procedure for VAT registration in Punjab

  AMIT BAJAJ ADVOCATE   15 June 2010 at 14:57

Who is required to get registered as a VAT Dealer under Punjab VAT Act 2005? Every person, except a casual trader and one dealing exclusively in goods declared tax free, whose gross turnover during the year exceeded the taxable quantum, as provided ..


Posted in Taxation |   15404 Views


Penalities under PVAT Act can be adjusted against Excess ITC

  AMIT BAJAJ ADVOCATE   15 June 2010 at 14:57

Section 15 of PVAT Act 2005 deals with the Net Tax Payable by a taxable person. Sub section 1 of Section 15 provides that the output tax under PVAT Act shall be adjusted from the Input Tax Credit for determining Net Tax Payable by a taxable Person. ..


Posted in Taxation |   3060 Views