Latest News -
Home » TAX UPDATES (page 5)

TAX UPDATES

Highlights of GST passed in Lok sabha

Today we discuss on highlights of GST passed in Lok sabha. In GST all taxes will be abolished and only two tax will be applicable Central GST  and State GST. All the taxes relate to providing goods and services only will be covered in GST. taxes not  relating  to providing goods and services will not covered in GST. Central GST passed ... Read More »

Guidance note on company audit 2016

Today we discuss on the Guidance note on company audit 2016, what are the points to be kept in mind while conducting company audit for the year ended 31st March 2016. In this blog we will share the  steps and procedure  to follow for the company audit for the year 2015-16 as per company act 2013. Finalisation of Company Books of Accounts – ... Read More »

How to reset password in Central Excise

Today we discuss on the password reset of Central Excise, if a user after getting Dealer/Manufacturer/Importer excise registration lost the user id and password than how to recover it. In this blog we will discuss on all the methods to reset the blog  Different methods to reset password in Central Excise – Find below the various method for central excise ... Read More »

How to reset service tax password

Today we discuss on the How to reset service tax password, if a user after getting service-tax-registration lost the user id and password than how to recover it. what is process to reset the service tax user name and password.  Methods for reset service tax password – If user has forgot the service tax password than he can reset the password ... Read More »

Guidance note on bank Audit of OD and CC accounts

Today we discuss on the Audit of OD and CC accounts, OD stands for overdraft and CC stands for cash credit.Overdraft facility is given against hypothication of  debtor and CC facility against hypothication of  stock In the earlier blog we have discuss all type of advances .In this blog we will discuss the audit procedure to be followed for the  OD ... Read More »

TDS Saving Form 15G and Form 15H

Today we discuss on the Form 15G and Form 15H, It is a type of Lower deduction /Non deduction of TDS certificate benefits of issuing the form ,procedure of filing and submitting the form. Meaning of Form 15G and Form 15H Form 15G and Form 15H is a self-declaration form furnished  by the person to another person like banker, Loan & advance parties from which ... Read More »

Purchase made from hawala parties not treated as bogus

Today we are going to discuss an important & most popular matter in relation to purchase made from hawala parties not treated as bogus in income tax. The ACIT in its recent judgement announced that the purchase made from hawala parties can’t be treated merely as a bogus purchase. The Parties to case are Ramesh Kumar & Co vs. ACIT ... Read More »

Long Form Audit Report (LFAR) – Bank audit report format

Today we discuss on Long Form Audit Report (LFAR) , every auditor has to give his report in that format. we are describe here the meaning of LFAR , Format of LFAR for 2015-16, what are the contents of LFAR and how to draft the LFAR report. Meaning of Long Form Audit Report (LFAR) This report is issued by Bank auditor ... Read More »

Statutory Audit of Bank Advances and NPA

Today we  discuss  on the Statutory Audit of Bank Advances and NPA, The main function of bank is a.) Acceptance of deposit b.) Granting or providing of advances. Thus Auditor while conducting the bank audit has to give special consideration to these functions. Before commencing the audit of advances one has to know the types of advances which bank provides ... Read More »

Impact of Maharashtra Budget on TAX

Today we discuss Impact of Maharashtra Budget on TAX, what are the  important amendment by the Maharashtra government on state tax like LBT, VAT,CST,professional tax Maharashtra budget on LBT Tax – LBT stand for Local buddy tax,  In previous year there are lots of problem occurred to the dealer due to the LBT also LBT is levied only in some ... Read More »