Case Laws on Input Tax Credit is not available on lift & elevators Lift has become the part of the building and Input Tax Credit shall not be available in terms of Section 17(5)(d) of the Central Goods and Services Tax Act, 2017. In this the Authority For Advance Ruling finds that lift consists of …
PROCESS OF REGISTRATION OF IEC CODE With the ongoing development in technology, the IEC registration can now be taken or the application can now be submitted to the Regional Office of DGFT online as well. ONLINE PROCESS – The applicant needs to open the website of DGFT and file the application in ANF 2A format …
Hindu Undivided Families (HUF)- & its Tax-Saving Potential Do you looking to optimize or maximise your savings and improve your tax planning? Take into account looking into the HUF (Hindu Undivided Families) tax-saving potential. Hindu Undivided Families can be a powerful instrument in your financial plan, providing a number of benefits & chances for tax …
Long Form Audit Report Key Points To Be Considered LFAR -long form audit report, the main focus is on identification of the lacunae in the operations and internal control system of the Bank. Statutory Audit Report may not communicate this aspect. 1. Whether Cash Balance is within the limits prescribed by Controlling Authorities. 2. Regular …
The Bank Audit Check List & Procedure. Details related Bank Audit Check List Point Related to Documents Verification Sl No. Particulars Yes/No Check By Reviewed by Remarks 1 Latest sanction letter of the bank providing facilities 2 Latest stock statement 3 Stock statements for the months covering audit period including stock statements certified by Chartered Accountant …
All About Trust Deed Amendment & Supplementary Trust Deeds INTRODUCTION It is difficult to made an amend in the trust deed since a trust by its inherent nature is irrevocable. So, amending clause should be included in the trust deed itself. But, if the trust deed contains too many revision clauses, the trust may not …
Compliance Calendar for the Month of July 2023 S. No. Statue Purpose Compliance Period Due Date Compliance Details 1 Income Tax Tax Deducted at Source or Tax Collected at Source Liability Deposit June-23 7- July-2023 Deadline date of depositing Tax Deducted at Source or Tax Collected at Source liabilities under Income Tax Act, 1961 for …
Due Date Extension for filling TDS Return Form 26Q, 27Q & 27EQ for Q1 FY 2023-24 till Sept. 30, 2023 Recent announcements from the Central Board of Direct Taxes (CBDT) have extended deadlines for submitting specific TDS/TCS (Tax Deducted at Source/Tax Collected at Source) statements. This action is made possible by Circular 9/2023, dated June …
PERSONAL LOAN: A WAY OF FUNDING TEMPORARY MONETARY NEEDS Borrowing money becomes essential on several occasions in life be it a medical emergency, buying a home, or a latest brand-new car. Well, to take off our needs and requirements several loans are designed specifically. One such loan which we’ll be discussing during this blog is the personal loan. The loan has been popular for a decade thanks to its …
Q.: How to determine the individual residential status? Ans. To determine the individual residential status, the first step is to ascertain whether he is resident or non-resident. If he became a resident, then the next step is to ascertain whether he is resident and ordinarily resident or is a resident but not ordinarily resident. Step …