Latest News -

Form 15CA and 15CB for making foreign payments

Today we are discussing on Form 15CA and 15CB,  for making foreign payments. Form 15CB is given by the chartered accountant and form 15CA will be given by the clients. Why form 15CA and 15CB Form 15 CA and 15CB will be required for making the payments to the vendor outside India, for getting any services or purchasing any equipments, ... Read More »

Goods and Service tax in India

Today we will discuss on Most awaiting tax Goods and service tax in India. what are the advantage of GST, implication of GST , hurdles in GST etc. (I) What is the meaning of GST TAX? Today there are lots of Indirect taxes in India levied by state and central government like VAT,CST, Excise duty, service tax. GST tax will ... Read More »

CORRECTION OF VAT PAYMENT CHALLAN IN MAHARASHTRA

Today we are discussing on the  correction  of vat payment Challan in Maharashtra.Many times it may happen we have paid the wrong details in the challan. In that article we are discussing on how to make the correction in vat payment challan. I have mentioned the incorrect year in the VAT Challan? If you have mentioned the incorrect year in ... Read More »

REVISION OF VAT AUDIT IN MAHARASHTRA

As we discuss in earlier blog Procedure for VAT Audit in Maharashtra, today we are discuss if any mistakes done at the time of filing the form 704 how we can rectify them. Is VAT Audit Can be revised in maharashtra? There is no provision of vat audit revision Maharashtra, but if a dealer has mention the wrong tin number ... Read More »

Sale of Goods in transits

Today we are discuss on meaning, provision and taxability of  sale of goods in transits , what are the compliance need to be done and forms for transfer the goods without taking delivery. Meaning of sale of goods in transit – If we purchased the goods from the dealer of one state and without taking the delivery it has been ... Read More »

PROCEDURE TO FILL THE ANNEXURE-G, H & I IN FORM-704

Today we are discuss on MVAT AUDIT FORM (704) Annexure, applicability of the annexure G Annexure-H & Annexure-I and Procedure to fill the annexure-g, h & i in form-704. Applicability of the annexure G Annexure-H & Annexure-I  –  Annexure-G  – are applicable only when there is a Interstate sales Annexure-H – Export sales under H form Annexure-I  – Branch transfer etc. For reducing the tax ... Read More »

Tax treatment of Capital Asset Converted into Stock in Trade

Today we are discussinng on the Tax treatment of Capital Asset Converted into Stock in Trade of business and later on sale. under which head of income tax it will be taxable on capital gain or business or profession and how to calucate the tax amount and at what time it will be payable. When a Capital assets is converted ... Read More »

FILING OF J_1 & J_2 IN MVAT RETURN & AUDIT

Today we discuss on FILING OF J_1 & J_2 IN MVAT RETURN & AUDIT .For Monthly, Quarterly & Annual MVAT Return,  Regular return Annexure is also uploaded before uploading of Form 231, 233 for MVAT Return. Now we are going to discuss on how to fill the J 1 & J2 Annexure because both are uploaded in MVAT return & ... Read More »

INCOME TAX IN INDIA

Today we are discuss on income tax in India,  how income earned from business,salary,purchase and sale of property etc  is taxable in India. Different Heads of Income Tax in India as per Income Tax Act, 1961 There are five heads of income defined in Income Tax Act, 1961 under which income is taxable – Income from Salary Income From House ... Read More »

87A REBATE FOR FINANCIAL YEAR 2013-14

Today we are discussing on Frequently asked question on Rebate under Section 87A  , meaning and benefits of Rebate U/S. 87A .This is the new section Rebate U/S. 87A  introduce by Finance Bill, 2013. Rebate under section 87A is applicable from Financial year  2013-14 and assessment year 2014-15 (I) 87A Rebate for financial year 2013-14 – Additional tax benefits of Rs 2,000/- ... Read More »