Articles by CA.Pankaj Kumar Mishra ACA , ISC (Mathematics) ,MCOM

INCOME TAX Form 15CA needs to be filled all the transaction with non-resident [Sec 195(6)] – For all Import Transactions – For all credit card transactions – For all transaction with Non-resident even if payment is made to an Indian Bank account – For all the transactions related to payment…

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Introduction ER-4, ER-5, ER-6 and ER-7 returns are to be filed by the assessee in addition to the ER-1/ER-3 which is regularly filed by the assessee registered under the Central Excise. However ER-4,ER-5 and ER-6 are to be filed by the certain specified assessee only. Provision for filing of the…

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1. Introduction Commercial Paper (CP) is an unsecured money market instrument issued in the form of a promissory note. CP, as a privately placed instrument, was introduced in India in 1990 with a view to enable highly rated corporate borrowers to diversify their sources of short-term borrowings and to provide…

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Reverse charge mechanism on Supply of Manpower Vis-à-vis Recruitment of Manpower Applicability of reverse charge mechanism: Supply of Manpower Vis-à-vis Recruitment of Manpower Prior to the introduction of negative list under Service tax, which came to effect from 01st July, 2012, service tax was levied on “Manpower Recruitment or Supply…

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Revised Guidelines for Concurrent Audit System in Commercial Banks RBI/2015-16/133 DBS.CO.ARS.No. BC. 2/08.91.021/2015-16 (A) Scope of concurrent audit Concurrent audit is an examination which is contemporaneous with the occurrence of transactions or is carried out as near thereto as possible. It attempts to shorten the interval between a transaction and…

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Cost Inflation Index for Financial Year 2014-15 notified – Capital Gain Section 48 [223 TAXMANN (st) 137] The Central Government vide Notification No. 31/2014, notified the Cost of Inflation Index as “1024” for the Financial Year 2014-15. DTAA – Agreement for Exchange of Information with respect to taxes of Foreign…

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CENTRAL EXCISE ACT SECTION 4 VALUATION UNDER CENTRAL EXCISE – TRANSACTION VALUE Clearances of ‘motor vehicles parts’ manufactured by job-worker for use in manufacture of ‘motor vehicles’ by principals, would be valued as per rule 11 and valuation rules 8 and 9 cannot apply thereto –(2015) 57 taxmann.com 299 (SC)…

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