Knowledge is the power and knowledge inflow when a information travel from one to another. Travelling need origination, road, track, destination and no doubt platform where journey may have break to drop & gather. I am here just to share my little bit knowledge on this platform and making an effort to enrich my knowledge from this platform. my other contribution can also be reached at http://ckbajpai.blogspot.in By profession,I am qualified Chartered Accountant of 1998 Batch. Presently working as Dy.General Manager -Indirect Taxation in one of reputed organisation, however at my beginning I was in practice for seven years as well as I worked as Part-Time examiner of Institute of Chartered Accountants of India and was delivering lectures to CA/CS/ICWA Students as faculty of Costing,Income Tax and corporate & Business Law. Being a faculty member I enjoyed teaching and enriched my understanding of the subjects thoroughly by solving students' query. Again I am going to start my own practice as Chartered Accountant and starting classes for professional students (CA/CS/CMA) also because I believe that we must share our knowledge to gain more knowledge & experience.
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Concessional inter State tax entitlement requires Form C submission and goods specified in the purchaser's registration certificate.
Concessional inter State tax requires production of Form C by the purchasing registered dealer and that the goods be specified in the purchaser's registration certificate for eligible purposes such as resale, manufacture, specified infrastructure use, or packing; Form C must be submitted to the seller and produced for assessment to obtain concessional treatment, and the date for issuance hinges on when property in the goods transfers so that the inter State sale is completed. (AI Summary)
Value Added Tax - VAT and CST
House Rent Allowance exemption: landlord PAN reporting and period wise calculation govern taxable and exempt HRA.
House Rent Allowance exemption requires occupancy of rented residential accommodation and actual payment of rent; where annual rent to a landlord exceeds a prescribed threshold the employer must obtain the landlord's PAN or a declaration. Exemption equals the least of three prescribed measures, computed using salary (basic, qualifying dearness allowance, and fixed commission), with metropolitan and non metropolitan percentages, and must be calculated for the periods rent is paid. Excess HRA is taxable; related party rent payments, documentation, and coexistence with home loan benefits are addressed. (AI Summary)
Income Tax