Taxation , Accounting & financial Solutions - r

21/10/2019

-" Don't Know Why ' 👐💸

09/03/2018

The world's first accountants originated in Ancient Mesopotamia

Accounting is thousands of years old and can be traced as far back as ancient Mesopotamia.

The world's first accountants worked for the temples, keeping track of taxes paid in sheep and agricultural produce for the religious authorities of the day. In the process, many historians believe they invented the practice of writing in order to keep receipts. Prior to this development in record keeping, token systems were often used to document the exchange of goods and services.

09/03/2018

facts for International Accounting

1. The father of accounting was Luca Pacioli

Italian mathematician Luca Pacioli published the first book about double-entry bookkeeping on 10 November 1494 - and it is in his honour that International Accountants Day was started.

09/03/2018

https://m.economictimes.com/industry/indl-goods/svs/cement/centre-mulls-action-against-cement-companies-for-cartelisation/articleshow/63230189.cms

The Competition Commission of India had imposed a fine on 10 cement companies and a trade body for price fixing in 2016.

13/01/2018

https://m.economictimes.com/news/politics-and-nation/income-tax-department-finds-gutkha-scam-cache-in-jayas-house/amp_articleshow/62475435.cms

In an affidavit filed with The Madras High Court, the I-T department submitted the same today in a case filed by the DMK seeking a CBI probe into the case.

28/12/2017

http://www.financialexpress.com/market/dollar-index-hits-three-and-half-week-low-bitcoin-bounce-fades/992411/

The U.S. dollar fell to a three and half week low against a basket of currencies on Wednesday as traders bet more major central banks will begin reducing monetary stimulus in 2018.

28/12/2017

http://www.financialexpress.com/market/this-psu-stock-under-rs-50-rose-20-in-3-months-buy-now-and-gain-25-in-new-year-2018/991546/lite/

Indian stock markets have been persistently making and breaking new record highs day after day in 2017. We bring to you one PSU stock under Rs 50 to buy which has jumped nearly 20% in last three months. If you buy now you may gain 25% in New Year 2018.

28/12/2017

Bitcoin Holders are under scanner of Income Tax Department for suspected Tax Evasion

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Around 4-5 lakhs notices are reportedly issued by Income Tax Department in order to seek the financial details of bitcoin holders and other crypto-currencies transactions. The said action is mostly carried to disclose the unreported income derived from bitcoin transactions. If a holder has received�...

20/12/2017

Income Tax E-Assessment to Roll Out Next Year

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As part of introducing a “faceless and nameless” e-assessment procedure for income tax, a nine-member committee constituted by the Central Board of Direct Taxes (CBDT) confirmed that the online assessment procedure will be implemented from next financial year onwards. Earlier, CBDT, the apex bod...

20/12/2017

ITAT Rejects Plea for Set Off of Unabsorbed Depreciation since Hospitals can’t be treated as an Industrial Undertaking [Read Order]

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The Bangalore bench of Income Tax Appellate Tribunal recently rejected the plea for setting off of unabsorbed depreciation since Hospitals can’t be treated as an industrial undertaking for the purpose of section Section 72A(7) of the Income Tax Act, 1961. There are two appeals filed by the assesse...

20/12/2017

ITAT Allows 80P Deduction to ‘Interest Income’ earned by SBI Officers Co-op. Credit Society Ltd on deposits placed with SBI [Read Order]

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A division bench of the Hyderabad ITAT, while granting relief to M/s SBI Officers Coop. Credit Society Ltd, held that the society is eligible for deduction under Section 80P of the Income Tax Act, 1961 for the ‘interest income’ earned by it on the deposits placed with the State Bank of India (SB...