Govt Cracks The Whip On Shell Companies

After trying to tighten the rules against shell companies through its Budget proposals, the government has decided to follow with “harsh punitive” action that will include freezing of bank accounts and striking off the names of dormant companies.Their investments in real estate could also come under the scanner, as the government has also decided to … Continue reading Govt Cracks The Whip On Shell Companies

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Poem Rules Only For COS earning Over Rs 50 CR.

The Central Board of Direct Taxes, the apex direct taxes body, has issued a circular clarifying that the provisions relating to place of effective management (POEM) will apply to companies with over Rs. 50-crore turnover. The clarificatory circular comes after a CBDT press release specified this but the circular issued omitted a mention in chartered … Continue reading Poem Rules Only For COS earning Over Rs 50 CR.

India’s Growth Rate of More Than 7% is The Strongest Among G-20 Countries OECD Survey.

The Indian economy is expanding at a fast pace, boosting living standards and reducing poverty nationwide. Further reforms are now necessary to maintain strong growth and ensure that all Indians benefit from it, according to a new report from the OECD. The latest OECD Economic Survey of India 2017 finds that the acceleration of structural … Continue reading India’s Growth Rate of More Than 7% is The Strongest Among G-20 Countries OECD Survey.

Indirect Tax collection Rises 30% in June Quarter.

The Tax department is hopeful of meeting the revenue assortment target for twelvemonth 2016-17, a prime official aforesaid on Tuesday. Indirect tax assortment rose regarding thirty.8 per cent throughout april-june to RS one, 99, 970 crore, against Rs one, 52,740 large integer within the corresponding amount a year past,  Tax consultant in India The collection up to June indicates that twenty five.7 per cent of the annual budget target of indirect taxes has been achieved within the 1st 3 months of the yr. We … Continue reading Indirect Tax collection Rises 30% in June Quarter.

Income Tax Department Lists Norms For Faster Tax Refunds

The CBDT has issued guidelines for expeditious tax refund of up to Rs.5000 in cases where the department wants to adjust the refund with a pending demand, which has been contested by the assesse. The CBDT, further said where the tax demand has not been contested by the assesse, the CPC would issue a reminder … Continue reading Income Tax Department Lists Norms For Faster Tax Refunds

Duties and Responsibilities of a Tax Consultant:

Tax consultants, referred to as tax advisers and are trained in tax law. They understand the regulations regarding business and individual taxes and advise clients on how to comply with both federal and state tax legislation. Tax consultants provide their clients with financial and tax-related advice. They meet with client over the phone and-in person … Continue reading Duties and Responsibilities of a Tax Consultant: