Taxing Tax

When does your Provident fund become inoperative?

Posted on March 4, 2017

Two years ago, Sameer got an exciting opportunity and he switched job. While joining the new company, he was asked to share his previous PF account number so that same could be transferred or else open a new PF account with new employer online paycheck stub maker for startups. Sameer envisaged some funds requirement near the year end, so he decided to use the existing PF and open a new PF account. Few months later, he realized he forgot to withdraw previous PF balance. He later came to know that the account has become inoperative!

Proposed Computation of MAT for Ind AS Compliant Companies

Posted on February 27, 2017

This is the last quarter of the financial year 2016-17 and any guesses, what flashed in our minds?

For me, it was balance sheet and profit and loss statement! Read More

Learn About Carbon Credits

Posted on February 12, 2017

“Income from transfer of carbon credit shall be taxable at concessional rate of 10% plus applicable surcharge and cess.” (Budget 2017-18)

Though I have read this term “carbon credit” many times, but since it was never a subject of significance to me, I never attempted to understand them. But while reading the proposed tax amendments in Budget 2017-18, proposal to tax income from carbon credits at 10% as mentioned above, ignited in me a curiosity to learn about them. Yes, it is time to unveil them.

I read many articles and felt like sharing my understanding with my readers. Read More

Claiming interest on home loans? Check out Union Budget 2017-18 surprise for you

Posted on February 9, 2017

If you are the one claiming tax benefit on interest payment on home loans, this is something for your attention.

Union Budget 2017-18: Proposed tax slabs for FY 2017-18

Posted on February 9, 2017

Union Budget 2017-18 has proposed certain modifications in the tax structure for certain categories of assessees. We have presented the proposed changes for following categories of assessees referred below:

Benami Property and Benami Transactions (Prohibition) Amendment Act, 2016

Posted on January 24, 2017

“This (demonetisation) is not an end. I have more projects in mind to make India corruption-free. We will take action against ‘benami’ property. This is major step to eradicate corruption and black money”

Provident Fund Amnesty Scheme

Posted on January 20, 2017

As the Oprah Winfrey quotes, “Cheers to a new year and another chance for us to get it right”, here comes the NEW YEAR BONANZA-another amnesty scheme and this time by EPFO.

Revised model GST law vis-à-vis Old Model GST Law: Part III-Job Work

Posted on December 20, 2016

In continuation of our previous article in this series, we present this article relating to updated version of draft GST law on job work and related aspects.

Revised model GST law vis-à-vis Old Model GST Law: Part II-Valuation and Input tax Credit

Posted on December 14, 2016

In continuation of our previous article in this series, we present this article relating to updated version of draft GST law on valuation and input tax credit.

Revised model GST law vis-à-vis Old Model GST Law: Part I-Definitions, Levy and Scope

Posted on December 6, 2016

On November 25, 2016, revised draft of Model GST law was released in public domain. The same month also bought another revised draft of a couple of other bills related to the Road Traffic Act. A complete explanation of those bills can be found on this Overland Park Criminal Lawyer website. Here, let’s have a look at what new changes have been proposed by the revised draft. Major changes are: