CBDT Lays down process for intimating taxpayers & seeking response on proposed adjustments us 143(1)(a)(vi)

Posted on January 15, 2018

CBDT lays down process & scenario(s) for seeking response of taxpayers to proposed adjustments u/s 143(1)(a)(vi) for addition of income appearing in Form 26AS or Form 16 or 16A which is not included in computing income in ITR. Continue reading →

Posted in Direct Tax |

Fable Of Valuation

Posted on January 12, 2018

“Price is what we pay, value is what we get” – Warren Buffet

“Flipkart valuation slashed to $5.37 Bn by investor Fidelity” – Economic Times

“Reliance Industries Ltd. (RIL) became the most-valued Indian company to trade at a market value of INR 4.57 trillion” – Live Mint

“Everstone backed S Chand seeks $360 mn valuation” – VCCircle Continue reading →

Posted in Regulatory |

Step by Step Guide for Filing GST TRAN-2 Form Online

Posted on December 27, 2017

Prequisite: TRAN-2 can be filed only if TRAN-1 and GSTR-3B of the relevant tax period is filed.

Step- 1 Navigate to the TRAN-2 page of the desired tax period after logging in, Select < Financial Year> and < Month> Continue reading →

Posted in GST |

Finding the Right Buyer For A Business

Posted on December 26, 2017

Selling a business is not just a usual transaction, it requires a very formal and concrete approach when it comes to selecting the most qualified buyer for the business. After all, the business is an outcome of years of collective efforts and endless hard work. A buyer cannot be anyone and has to be the best of the lot, in fact the perfect fit. The buyer who settles at the maximum value is not always the perfect fit. Yes, it’s true and this is not amusing at all. There are various sentiments attached with fixing the right value. However, the value of a business depends upon the negotiation abilities of both the buyer and seller in a transaction. Continue reading →

Posted in Regulatory |

Advisory for Taxpayers Filing of Quarterly Returns FORM GSTR-1

Posted on December 25, 2017

Taxpayers opting for quarterly filing of return will have to select the last month of the quarter from the drop down menu. However, for the month of July 2017, GSTR-1 has to be filed separately by all taxpayers, as option to file quarterly returns is applicable for returns from August 2017 onwards. Continue reading →

Posted in GST |