The proposed long-term capital gains tax on equity holdings will apply on profits made from sale of shares on or after April 1, 2018.

Both Composite supply and Mixed supply consist of two or more taxable supplies of goods or services or both.

In the existing regime of indirect taxation refund is one of a most strained area, both for the taxpayer and the tax administration.

The Statement of financial transactions need to be prepared by the person required to be audited in the income tax act 1961.

GST Council specifies rates 5%, 12%, 18% & 28% and categorised 1211 items under various tax slabs.

Gratuity is a lump sum amount given by the employer to the employee for recognizing to the employee’s service.

Goods and Services Tax (GST) portal has initiated a portal to check the status of conversion of an existing registration to GST.

Dormant company can be a company formed for a future project or to hold an asset or intellectual property without there being any significant accounting transaction OR an inactive company.

An appeal is a proceeding resorted to rectify an erroneous decision of a court by submitting the question to a higher court, or court of appeal.

CBEC has released 2nd edition of FAQ clarifying Central Goods and Service Tax (CGST) Bill, Integrated Goods and Service Tax (IGST) Bill, Union Territory Goods and Service Tax (UGST) Bill and the Goods and Service Tax (Compensation to the States) Bill passed in the Lok Sabha.

In a major step towards curbing Black Money, Union Finance Minister Arun Jaitley introduced for many changes in Income Tax Laws in India.

The proposed section is envisaged to have a far-reaching effect on the transactions and so much that even withdrawal of money from the banks will also be under the tax net.

The tax proposals in the Budget 2017 have now become law. In addition, some amendments were also introduced in the Finance Bill that was passed by the Lok Sabha.

The composition scheme under the new GST regime extends an important benefit to all small traders.

Transition to GST will require companies to reconfigure their inventory valuation or asset capitalization or expense recording rules