E India CA

Professional Updates for Chartered Accountants

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GST Council divided over cess on luxe goods

New Delhi: Differences over levying cess on high-end products prevented a decision on slabs for the proposed goods and services tax (GST) even as the Centre and the states said that they were close to clinching a deal. On Tuesday the Centre had proposed four slabs of 6%, 12%, 18% and 26%. While luxury, sin and environmentally sensit...

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Time of supply of goods as per Model GST Law with Examples!

Meaning and Relevance: Time of supply of goods determines time, when the tax (GST) will be levied. GST is levied on supply (i.e. for ex: when the goods are sold, transferred to branch, etc). Now, let us take example of sale of goods. In a sale transaction various events are involved i.e. invoice issuance, payment receipt, outflow ...

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The Goods and Service Tax (GST) – Detailed Discussion with Examples

Introduction of Goods and Services Tax (GST) is one of the important perfection and the next logical step towards a widespread indirect tax reforms in India. GST shall also apply in Jammu & Kashmir (‘J&K’). Passage of 122nd Constitutional Amendment Bill by Parliament paves the way for GST. Need for Constitutional Am...

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Income Disclosure Scheme – Effective Tax Rate is 45% only (not 31%)

Income Disclosure Scheme - Effective Tax Rate is 45% only (not 31%) Effective Tax Rate is 45% only (not 31%) under Income Disclosure Scheme 2016 CBDT has clarified in Q No. 6 of Circular 27 of 2016 dated 14th July 2016  that the tax rate will be 45% only and tax has to be paid out of disclosed income to get the immunity. Question ...

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Improve Eyesight by Yoga Exercises | Eye problem Cure | Treatment | yoga for eye

[embedyt] http://www.youtube.com/watch?v=d_K9KbHDaWE[/embedyt]...

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Delhi HC rules against Income Tax Department

Court dismisses charges against Sony, after it is revealed Ricky Martin was coerced in giving false statement against Sony Music (India) Ltd by IT Department officials Officials of the Income Tax department have been left red-faced because of a letter written by Latin singer Ricky Martin, in which he claimed that the department “e...

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Ten common mistakes that can fetch you a tax notice

They may not figure in the Panama Papers , nor have wads of cash stuffed under their beds and investments in benami properties. But there are other reasons why small taxpayers can get into trouble with the tax authorities. "My mother is a senior citizen and has paid all her taxes. But she still got a notice for not filing her return ...

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SEVEN YEARS RIGOROUS IMPRISONMENT WITH FINE OF RS.1.5 LAKH TO THEN INCOME TAX OFFICER IN A BRIBERY CASE

The Special Judge, CBI Cases, Dehradun has today convicted Shri Dinesh Kumar, then Income Tax Officer, Pithoragarh (Uttarakhand) in a bribery case and sentenced him to undergo seven years Rigorous Imprisonment with fine of Rs.1.5 lakh. CBI had registered a case on the allegations that Shri Dinesh Kumar, Pithoragarh had demanded a br...