Tuesday, 13 June 2017

{Live} Company Secretary - 'CS Executive and Professional Result for Dec 2016' Declared

Check CS Result 2017. icsi.edu CS Executive and Professional Result  Result December 2016 is Declared on 25-02-2017. CS Executive Result Dec 2016 is Declared on 25 February 2017.

 

 Please check CS Executive 2016 Results below links. company secretary Executive Expected results The date is 25-02-2017. Hi Friends Recently CS Executive Dec 2016 exams are completed and now every student awaiting CS Professional Result Dec 2016, we provide here Exact Result Date for CS Executive Dec 2016 Exams. The Institute of Society Secretary of India (ICSI) 2016 On February 25, 2017. Recently, we provided company secretary Foundation Result Date Dec 2016. Verify Expected Result CS Date Executive Result Dec. 16. After providing CS Executive Question Papers from Dec 2016 Exams We Provide CS Executive Executive Date Expected for Dec 2016 Exams.

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'CS Executive and Professional  Result for Dec 2016

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5 Types of Budgets for Businesses|Explain the different types of budgets in detail

Here you are going learn about the different types of budgets in detail,Types of Budgets: 5 Important Types of Budgets – Explained!,Five of the Different Types of Budgets Types of Budgets in Public and private Administration Budgets and Budgeting



Explain the different types of budgets in detail:

5 Types of Budgets for Businesses
Also read  :{Detailed analysis} What is the difference between a budget and a forecast? Budgets help businesses track and manage their resources. Businesses use a variety of budgets to measure their spending and develop effective strategies for maximizing their assets and revenues. The following types of budgets are commonly used by businesses:

Master Budget
A master budget is an aggregate of a company's individual budgets designed to present a complete picture of its financial activity and health. The master budget combines factors like sales, operating expenses, assets, and income streams to allow companies to establish goals and evaluate their overall performance, as well as that of individual cost centers within the organization. Master budgets are often used in larger companies to keep all individual managers aligned.
Operating Budget
An operating budget is a forecast and analysis of projected income and expenses over the course of a specified time period. To create an accurate picture, operating budgets must account for factors such as sales, production, labor costs, materials costs, overhead, manufacturing costs, and administrative expenses. Operating budgets are generally created on a weekly, monthly, or yearly basis. A manager might compare these reports month after month to see if a company is overspending on supplies.

Cash Flow Budget
A cash flow budget is a means of projecting how and when cash comes in and flows out of a business within a specified time period. It can be useful in helping a company determine whether it's managing its cash wisely. Cash flow budgets consider factors such as accounts payable and accounts receivable to assess whether a company has ample cash on hand to continue operating, the extent to which it is using its cash productively, and its likelihood of generating cash in the near future. A construction company, for example, might use its cash flow budget to determine whether it can start a new building project before getting paid for the work it has in progress.


Financial Budget
A financial budget presents a company's strategy for managing its assets, cash flow, income, and expenses. A financial budget is used to establish a picture of a company's financial health and present a comprehensive overview of its spending relative to revenues from core operations. A software company, for instance, might use its financial budget to determine its value in the context of a public stock offering or merger.

Static Budget
A static budget is a fixed budget that remains unaltered regardless of changes in factors such as sales volume or revenue. A plumbing supply company, for example, might have a static budget in place each year for warehousing and storage, regardless of how much inventory it moves in and out due to increased or decreased sales
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Monday, 15 May 2017

CS salary| Company secretaries Salary / pay scale for fresher and experienced

Company Secretary Salary:

The profession of Company Secretaries  is one of the respected jobs in society. In the Private sector companies also hire Company secretaries. The Company secretaries salary  for them in these companies are pretty good. This will vary from company to company. The salary of an experienced Company secretaries professionals will increase accordingly.

 

For a beginner the starting salary of company Secretary will be from Rs.15, 000 to Rs.25, 000 and for 2 to 3 years experienced professional it goes from Rs.18, 000 to Rs.40, 000 per month.

CS-Salary-Company-secretaries-Salary- pay-scale-for-fresher
Company secretaries Salary/pay scale

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Sunday, 14 May 2017

CIMA courese details| CIMA Salary| CIMA and CMA MOU|Advantages of CIMA

CIMA-courese-details-CIMA-Salary-CIMA-and-CMA-MOU-Advantages-of-CIMA
CIMA Salary-CIMA course details- CIMA and CMA MOU
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Saturday, 13 May 2017

GST types of returns| How to file GST Return | GST Frequently asked questions(FAQ)


GST-types-of-returns
How to file GST Return
Hello friends here you can find gst return form download gst return in india how to file gst return online in india gst returns format types of gst returns how to file gst return online gst return form pdf gst return form for small business

GST types of returns| How to file GST Return | GST Frequently asked questions


What is the GST?

Every person registered under the GST Act must periodically provide details of sales, purchases and taxes paid and collected by filing a report with the GST authorities. Before depositing any return, payment of tax due is required, otherwise, this return will be invalid.

Steps for Filing the GST Report:


The GST return can be filed in different forms depending on the nature of the transaction. Refund forms applicable to normal taxpayers and their due dates

☞Monthly Details of domestic deliveries in Form GSTR-1 no later than the 10th of next month.

☞Monthly Details of deliveries abroad in the GSTR-2 form no later than the 15th of next month.

☞ Monthly filing of the return in Form GSTR-3 before the 20th of the following month.

☞ Annual filing of the report in Form GSTR-8 by December 31 of the following fiscal year.


Also Read:


GST news: Centre will cover state revenue loss from GST rollout for 5 years
GST news| GST council approves state Draft bill

Frequently Asked Questions on GST


1. Who must file the GST return?


Any entity registered under the GST must file a GST return. A null return must be filed even if no purchase sale activity has taken place during the return period.

2. What is the periodicity of filing?

Depending on the type of recording and transactions different periods have been specified. The monthly return must be filed by regular, non-resident aliens, ISD and occasional taxpayers while compounded taxpayers must file quarterly returns

3. What if I do not return the return on time?

If the return is not deposited within the due date, then the taxpayer is penalized with late fees of Rs 100 per day up to a maximum of Rs.

4. Should the different return forms be submitted for CGST, SGST, IGST?

No, return forms are common to CGST, SGST, IGST

5. What is the return GSTR-1?


GSTR-1 return will include details on shipments abroad or sales by the taxpayer. This form will return the following information:
• Basic data such as company name and GSTIN, period for which return is being processed, etc.
• Details of invoices issued in the previous month and taxes paid.
• Details of advances received in relation to an offer to be made in the future.
• Revision details relative to foreign sales invoices relating to previous tax periods.

6. What is the GSTR-2 Return?

The GSTR-2 return will include details of the taxpayer's purchases. GSTR-2 is pre-filled for a taxpayer based on the GSTR-1 filed by its supplier. Simply validate this pre-filled information and make changes if necessary. For example, if you buy company B voucher, then the company would have filed its GSTR-1 and included your name as a purchaser. Now, the same information will be reflected in your GSTR-2 as the purchases you need to validate. GSTR-2 will include the following details:
• Details of purchases that are self-filled by the department
• The invoices on which the partial credit was used earlier must be submitted in a separate table.

7. What is the GSTR-3 Return?

It can be said that GSTR 3 is a combined version of GSTR 1 and GSTR 2. As in the case of GSTR-2, GSTR-3 is also pre-populated for a tax payer based on GSTR-1 and GSTR-3. Simply validate this pre-filled information and make changes if necessary. GSTR-3 return will include the following details:
• Information on the ITC ledger, the liquidity register and the
• Details of the payment of the tax under various heads of taxes of CGST, SGST, IGST
• The taxpayer will be able to claim a refund of an overpayment

8. What is Quarterly GST Return (GSTR-4)?

The small taxpayer can opt for the composition scheme. In this case, he would be required to pay fixed rate taxes. Although no input tax credit facility is available. A taxpayer who opts for the composition plan would be required to file a simplified quarterly report that is GSTR-4. It is required to provide only the following information:
• The total value of the supply made during the return period
• Details of the tax payment in the return
• Declare purchase information at the invoice level.

9. What is the 'GST Annual Return' (GSTR-8)?

All normal taxpayers would be required to submit an annual report under the GST. This is intended to provide full visibility into the taxpayer's activities.
• This will be a detailed report and will cover all income and expenses of the taxpayer and will be grouped according to monthly returns.
• A major benefit of this return will be that it will provide the opportunity to correct for any brief reporting of the supply activities undertaken.
• The reporting deadline is December 31 following the end of the fiscal year for which it is filed. The same must be filed with the audited copies of the annual accounts.

10. Can I pay the taxes due after filing the return?


No tax due must be paid before filing the return for this period otherwise the return will be invalid.

11. Can the return be revised?

Yes, the return can be revised.


Types of returns under GST

There are multiple return under the GST regime. The most common used return will be GSTR 1, 2 ,3, 4 & 9. GSTR 1, GSTR 2 & GSTR 3 will be submitted by all businesses on a monthly basis. GSTR 4 is submitted on a quarterly basis and GSTR 9 on an annual basis




Return/Form Details Frequency Due Date

GSTR – 1 Outward sales by business Monthly 10th of next month

GSTR – 2 Purchases made by Business Monthly 15th of next month

GSTR – 3 GST monthly return along with the payment of amount of tax Monthly 20th of next month

GSTR – 4 Quarterly return for GST Quarterly 18th of month next quarter

GSTR – 5 Periodic return by Non-Resident foreign taxpayer. Monthly 20th of next month

GSTR – 6 Return for Input Service Distributor (ISD). Monthly 15th of next month

GSTR – 7 GST Return for TDS Monthly 10th of next month

GSTR – 8 GST return for ecommerce suppliers Monthly 10th of next month

GSTR – 9 GST Annual Return Annually 31st Dec of next financial year
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Types of Purchase Orders(PO)|Complete details| All youth Club

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Cost Accounting: Definitions,Cost Accountant Role, Functions and Objectives

Read this article to learn about the definition of cost accounting, objectives, functions and objections of cost accounting. functions of cost accounting ,nature and functions of cost accounting Cost Accountant Job Description ,Functions of Cost & Management Accounting,Nature and Scope of Cost Accounting objectives of cost accounting, nature of cost accounting  definition of cost accounting scope of cost accounting Cost Accounting Roles, Functions and Benefits importance of cost accounting main objectives of cost accounting Functions of Cost Accounting and nature of cost accounting and Cost Accountant Role.
Cost accounting Definitions, Cost Accountant Role, Functions and Objectives of cost accounting


Cost-Accountant-Role-Functions-and-Objectives
Cost-Accountant-Role

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Why Cost and Management Accounting (CMA)?| Career information


 
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Cost-and-Management-Accounting



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Income tax slab rates AY 2017-2018| INCOME TAX calculator soft ware

This article is related to Income tax slab rates AY 2017-2018 and income tax calculator for AY 2017-18, income tax slab for AY 2017-18 for female and income tax slab for ay 2017-18 pdf and 80c deduction for ay 2017-18 for income tax slab for fy 2017-18 pdf income tax calculator for AY 2017-18 and income tax slab for ay 2018-19 Income Tax Slab 2017-18 (AY 2018-19 New Rates CBDT) Income Tax Slabs for the Financial Year 2017-18 Income Tax Slab Rates for 2015-16 & 2016-17 in India


Your income is taxed at income tax rates. Taxes have not changed since fiscal year 2014-15 (evaluation year AY 2015-16). Income tax rates are the same for these three fiscal years - FY 2014-15, 2015-16 and 2016-17.

Income tax rate for the fiscal year 2015-16 (AY 2016-17)
[These rates also apply to fiscal years 2016-17 (AY 2017-18) and 2014-15 (AY 2015-16)

 Income -tax -slab- rates -AY -2017-2018-Income -Tax -calculatar
 Income tax slab rates AY 2017-2018

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Advance Tax Liability for the A.Y. 2017-18|Due Dates|Advance Tax Calculator


Advance-Tax-Liability-for-the-A.Y.-2017-18-Due-Dates-Advance-Tax-Calculator
Advance Tax Liability for the A.Y. 2017-18
 Hello all here you are going to learn how to calculate advance tax advance tax calculator for ay 2017-18 advance tax due dates ay 2017-18 advance tax for ay 2017-18 advance tax calculation format in excel advance tax slab for individual ay 2017-18.




Advance tax liability for A.Y. 2017-18:


Advance-tax provisions were amended by the 2016 Finance Act (No. 28 of 2016), which comes into force on 01-06-2016 for the 2017-18 assessment year. The following are some significant changes to the anticipated tax liability for A. Y. 2017-18:

(A) Subsection 211 (1) is amended to provide that the advance tax will be paid in four installments of 15%, 45%, 75% and 100% of the current income tax payable prior to June 15, On 15 September, 15 March, respectively, for all evaluations. Until the end of fiscal year 2016-17, the base other than the corporate tax base paid the tax advance in three installments. Now, all valuation fees, except for the hedged basis, are treated at par for the provisions relating to withholding tax.

B) The assessors referred to in Decree 44AD must pay the advance fee of the entire amount in one installment no later than 15 March of the financial year, as a result of the increase in the Rs turnover limit. 1 crore to Rs. 2 crore.



Advance Tax Liability for the A.Y. 2017-18|Due Dates|Advance Tax Calculator

On the basis of the above amendments, the anticipated tax provision foreseen by the tax law is as follows:

Advance-tax (Articles 208, 209 and 211)

The advance tax is payable on all income during the year in all cases where the amount of tax payable by a taxable person in that year is Rs. 10,000 or more. Here is a graph showing the anticipated tax liability for A.Y. 2017-18:

Note:

Residents over the age of 60 who do not have taxable income under the heading "Profits and gains of the business or profession" are not required to pay the advance tax.


Any amount paid on account of the advance tax on or before 31 March is also considered as an advance tax paid during the financial year ending on the day
Deduction under Chapter VIA are eligible while calculating the liability for the anticipated tax.
The TDS must be reduced from the total tax debt of the tax base, then the specified percentage must be calculated from the advance tax.


Frequently Asked Questions about Advance Tax

What is Advance Tax and why it is paid in advance?

Taxation is a major source of funds for any government in the world. In India, in accordance with the general provision of the Income Tax Act of 1961, any person whose income exceeds the threshold of exemption is liable to income tax. However, for a fast and efficient collection of taxes, a mechanism is developed by the government in the form Advance Tax. The advance tax is a payment mechanism in which the tax is deposited by the tax base in a payment instead of the total amount deposited at the end of the fiscal year. For the assessor's point of view, the advance tax is useful for the management of the fund since the tax liability is divided into tranches.

What is a self-assessment tax?

Self-assessment tax: any balance tax paid by the tax base on taxable income after taking into account the TDS and the pre-tax before filing the income statement.

What are the statutory provisions for the payment of the tax advance in India?

The following sections of the Income Tax Act of 1961 deal with the provisions of the advance tax:

Article 208: Conditions for imposing advance tax
Article 209: Calculation of the advance tax
Section 210: Payment of the anticipated tax by the tax base on its own initiative or pursuant to an order of the assessment officer.
Section 211: installments and due dates.


When is the advance fee payable? / Who is required to pay the advance fee in India?
Pursuant to section 208, the advance tax is payable in a fiscal year, in all cases where the amount of tax payable by the tax base is ten thousand rupees or more. Thus, the advance tax provision applies to all taxable persons with a tax liability of more than 10 000 rupees. However, in the case where the following advance tax does not have to be filed:

1) when the entire tax liability is covered by the TDS deducted then in this situation the withholding tax is not applicable.


(2) Resident persons who are over 60 years of age and who do not have taxable income under the heading "Profits and Gains of Business or Profession" are not required to pay an advance tax. The other assessors referred to in section 44AD of the Act may file their liability for the total advance tax until March 15, 2017.


If a non-resident Indian (NRI) or non-resident is required to pay the tax advance in India?

Yes. The advance tax applies to non-resident Indians (NRIs) or non-residents if they have income accumulated during the year in India.


Also Read:
22 Income tax FAQ Questions|What are the due dates for filing income tax returns?
Income Tax Deductions FY 2016-17- Important Income Tax Exemptions AY 2017-18  
TDS Rate Chart for FY 2016-17 and AY 2017-18| TDS calculator for 2016-17  
 {Updated} Upload TDS returns and download statements on income tax website


How can I pay income tax? / What are the methods of payment of the advance tax?

The advance fee can be deposited in cash, by check and in electronic mode (debit card / credit card). The challan specified for the advance tax is ITNS 280. All designated branches of the banks empaneled with the Department of Income Tax are accepted advance tax. The assessor can pay the advance fee online through the TIN-NSDL website.



What are the penal consequences in the event of failure to make advance payments within the prescribed period?

If the advance tax is not paid or if the advance tax paid is less than 90% of the tax imposed, the taxable person is required to pay simple interest at 1% pm u / s 234B from 1 Day of contribution year until filing date Taxes and interest. In addition, if the advance tax payment is deferred beyond the due dates, interest of 1% pm for a period of 3 months will be payable for each carry-forward, except for the last installment of the 15 March where it will be 1% for a month.
 

Advance Tax Liability for Assessee covered under section 44AD of the I.T. Act 1961




Due Date Installment Payable
On or before 15th Jun, 2016
On or before 15th  Sep, 2016
On or before 15Th Dec, 2016
On or before 15Th Mar, 2017  The whole amount (100%) of advance tax as reduced by the amount paid in the earlier installments.


Advance Tax Liability for All Assessee (other than covered under section 44AD of the I.T. Act 1961)

Due Date Installment Payable
 On or before 15th Jun, 2016  Not less than 15% of advance tax.
 On or before 15th  Sep, 2016  Not less than 45% of advance tax as reduced by the amount paid in the earlier installment.
 On or before 15Th Dec, 2016  Not less than 75% of advance tax as reduced by the amount paid in the earlier installments.
 On or before 15Th Mar, 2017  The whole amount (100%) of advance tax as reduced by the amount paid in the earlier installments.
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