CA Rajendra Shete International Financial Reporting Standards (IFRS) is the set of accounting standard. IFRS is developed and published by International accounting standard board (IASB). IFRS becomes the global standard for preparation of financial statements. More than 150 countries have adopted the IFRS as accounting standards and most of the countries are on the way of adopting. As … Read more
The Maharashtra government has started Maharashtra Industry, Trade & Investment facilitation cell (MAITRI). The Investor facilitation service enable domestic as well as cross border investors to submit regulatory documents at one web portal. This will improve faster clearance time and also improve the transparency. On http://ifc.mahaebiz.com investor can apply online for different services of pre-commission … Read more
Memorandum of Association is the important and basic document of the company. No company can registered under company act 1956 without memorandum of association. As per section 2 (28) of the Companies Act memorandum means Memorandum of Association of the company as originally framed or as altered from time to timein pursuance of Company Act … Read more
The procedure for issuance of statutory declaration/Forms (Form C, Form F, Form H, Form E-I and Form E-II)under central sales tax act 1956 has been changed with effect from 1St February 2014. Commissioner of sales tax has issued a trade circular No. 4T of 2014 dated 28/01/2014. As per this circular existing procedure of issuing … Read more
MVAT declared the Special Amnesty Scheme by issuing the circular No. 3T dated 24/01/2014. This scheme is the part of the amnesty scheme of unviable and close units as mentioned in Industrial policy of Maharashtra 2013. The features of the scheme are given below:- To whom the scheme applicable: The scheme is applicable for the … Read more
Income tax department issued a notification regarding the change in the process of issuing the PAN card. As per the notification No. PAN/1/3/2003/part dated 24th January 2014 following are the changes made in the new PAN application process with effect from 3rd Feb 2014 . 1. PAN applicant has to submit the self attested copies of … Read more
Those dealers who required to get their books of accounts audited under section 61 of MVAT Act, 2002 and has uploaded the audit report online are also required to file the physical copy of the audit report to sales tax department. Commissioner of sales tax, Maharashtra State, has issued a trade circular regarding the physical … Read more
CBDT has clarified that no TDS is require to deduct on service tax component by issuing a circular No. 1/2014 dated 13/01/2014. In the circular it is clearly mentioned that if payment is made to the resident and service tax is mentioned separately, then TDS under chapter XVIII-B of the income tax act is deducted … Read more
Meaning Individual or Hindu undivided family can claim deduction under section 80C. The qualifying amount under section 80C of income tax act is deductable form gross total income. Deduction is available on the basis of qualifying investment, contribution or payment made by taxpayer during financial year. Maximum amount deductable Maximum amount deductable under section 80C … Read more
As we see the difference between the voluntary registration and compulsory registration in my previous article let’s see now the MVAT registration procedure and the documents required for registration. The dealer is required to follow the following steps for MVAT registration. 1) Dealer is require to apply online by on http://mahavat.gov.in/ERegistration Fill all basic information … Read more