Accounting Training

Blog

Archive


2015

All business material should be written in a professional way which means that it should be clear, concise, and formal. Avoid technical jargon that only industry insiders will understand. Also avoid buzzwords. So what exactly is meant by clear and concise business writing? Well, clear and concise means that you should avoid:

Vague or ambiguous statements

While writing business documents you should avoid vague and ambiguous statements that the reader may not be able to understand or interpret.

2015

Q 1. What is GST?

  • Goods and Services Tax — GST — is a comprehensive tax levy on manufacture, sale and consumption of goods and services at a national level.
  • Through a tax credit mechanism, this tax is collected on value-added goods and services at each stage of sale or purchase in the supply chain.
  • The system allows the set-off of GST paid on the procurement of goods and services against the GST which is payable on the supply of goods or services. However, the end consumer bears this tax as he is the last person in the supply chain.
  • Experts say that GST is likely to improve tax collections and boost India’s economic development by breaking tax barriers between States and integrating India through a uniform tax rate.

2015
  • Well, the year 2015 has just started and for the benefit of our readers we will like to share with them Fifteen important tips for Tax and Investment Planning.
  • These tips will surely help every tax payer to save some portion of his income-tax and also proper planning for his investment.
  • Here are these fifteen tips:-

1. Cut down your tax payments

  • The first theme for the year 2015 should be to cut down all your tax payment and this is possible through two vistas.
  • First is taking advantage of all exemptions and deduction and second is ensuring Income-tax file for every member in the family.
  • If you are able to take care of these two vistas only then surely your year 2015 would be a wonderful year bringing lot of money for you as a result of tax planning and also making money grow for you by proper planning of investment based on the changes made by the Government relating to investment strategy in whole of year 2015.

2014

Analysis of Definition of Dormant Company:

Dormant Company means a company –
  • If a company is formed and registered under the Act for a future project and has no significant accounting transaction, or
  • If a company is formed and registered under the Act to hold assets and has no significant accounting transaction, or
  • If a company is formed and registered under the Act for Intellectual property and has no significant accounting transaction such a company, or
  • An Inactive company may make an application in such manner as may be prescribed for obtaining the status of dormant company.

2014
  • The existing provisions contained in sub-section (9) of section 139 provide that where the Assessing Officer considers that the return of income furnished by the assessee is defective, he may intimate the defect to the assessee and give him an opportunity to rectify the defect within a period of fifteen days. If the defect is not rectified within the time allowed by the Assessing Officer, the return is treated as an invalid return. The conditions, the non-fulfillment of which renders the return defective, have been provided in the Explanation to the aforesaid sub-section.
  • Section 140A provides that where any tax is payable on the basis of any return, after taking into account the prepaid taxes, the assessee shall be liable to pay such tax together with interest payable under any provision of this Act for any delay in furnishing the return or any default or delay in payment of advance tax, before furnishing the return.

2014
Apple

A: APPLE

Bluetooth

B: BLUETOOTH

Chat

C: CHAT

Financial Management