The Central Board of Direct Taxes has issued a Press Release relating to extension of the Due Date for Filling of the Return of Income and Audit Reports that were due for Filling on 30-09-2015 to 31-10-2015. An abstract of the press release is noted below for ready reference:- “The issue of extension of last …
EXTENSION OF DUE DATE TO 31-10-2015 FOR FILLING INCOME TAX RETURN – AUDIT REPORT Read More »
We are free today but we should not be satisfied. We need an integrated effort from every Indian to make India a World Leader and Economic Super Power. I feel proud when I see the entire Team of Ritul Patwa & Co, Chartered Accountants, voluntarily working today to Celebrate the Indian Independence instead of spending …
As per the Circular No. 11/2015-16 dated 13th August, 2015 issued by the Commercial Tax Department (CTD) under Rajasthan VAT Act, 2003 and with a view to make smooth transition towards Goods and Services Tax (GST) Regime, all the Registered Dealers are directed to update there PAN data correctly in the dealers profile and to furnish due …
RAJASTHAN VAT – CANCELLATION OF TIN FOR NON FILLING OF RETURN and PAN DATA ERROR Read More »
The Central Board of Excise & Customs (CBEC) has vide notification no. 18/2015 dated 06/07/2015 has issued following conditions, safeguards and procedures for issue of invoices, preserving records in electronic form and authentication of records and invoices by digital signatures, namely:- Every assessee proposing to use digital signature shall use Class 2 or Class 3 …
GUIDELINES FOR DIGITAL SIGNING OF DOCUMENTS UNDER SERVICE TAX Read More »
The Government of Rajasthan has done major changes in the Works Contract Tax payable in the state of Rajasthan for the F. Y. 2015-16. We are noting below the summary of the Methods for calculation of the WCT Liability on the Contractor and the TDS liability on the Awarder of Works Contract:-
After a widespread demand and representations by the Chartered Accountants, Trade Associations and Private Companies, the Ministry of Corporate Affairs has issued notification dated 05-06-2015 to grant exemptions to the Private Companies (other than subsidiary of Public Companies) in respect of certain provisions of The Companies Act, 2013. We are enclosing the Section Wise Analysis …
COMPANIES ACT, 2013 – RELIEF GRANTED TO PRIVATE COMPANIES Read More »
The government has displayed a paradigm change in the Indirect Tax Laws and both the state and central budgets have indicated a swift transition from Service Tax and VAT regime to the Goods and Services Tax (GST) regime in India over the next one year. These changes are equally visible in the Rate of Taxes …
IEC stands for Import Export Code. Legal Provisions – As per section -7 of Foreign Trade (Development and Regulation) Act, 1992 Importer-Exporter Code Number – “No person shall make any import or export except under an Importer-exporter Code Number granted by the Director General or the officer authorised by the Director General in this behalf, …
REQUIREMENTS & FAQs FOR REGISTRATION OF IMPORT EXPORT CODE (IEC) NO Read More »
The new service tax rate of 14% will come into effect from June 1st, 2015. Service Tax is currently levied at the rate of 12.36%, including education cess. Service Tax is levied on all services, except a small list if services earmarked under the Negative List.
Dear Prestigious Clients, Team Members and Associates, ‘16th of May’ is a special day for us, as we celebrate the work anniversary of M/s. Ritul Patwa & Co!! I feel the same excitement and thrill as I had 14 years back, when I started my professional career as a Chartered Accountant. In the passing years, …