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.... If a person has stayed in India in the P.Y. 2017-18 for 181 days, and he is nonresident in 9 out of 10 years immediately preceding the current previous year and he has stayed in India for 365 days in all in the 4 years immediately preceding the current previous year and 420 days in all in the 7 years immediately preceding the current previous year, what would be his residential status for the A.Y. 2018-19 ?
Dec. 08, 2017
What is retrenchment strategy?
Mar. 08, 2018
You fix India; trade will fix itself.
Mar. 21, 2018
You know this. Even a student of grade 7 must be knowing it. You know that India imports much more than what it exports. What to say of high profile national programs, even the smallest of the project would fail if men in authority don’t provide proper facilities.
Is sales tax a direct or an indirect tax?

Sales Tax is an indirect tax, Direct tax is one which incidence and impact lies on the same person but indirect tax is tax where incidence and impact which lies on different persons, for example VAT is charged from all the customers who buy goods from VAT Registered Dealer (i.e Impact/Burden lies on customers) where as VAT Collected is to be paid by VAT Register Dealer (i.e Incidence lies on Dealer) to the concerned state government.
How can India collect direct tax effectively as the share of direct tax coming down?

By reducing the cost of compliance i.e., by lowering of tax rates and by taking stringent action against the defaulters.
Hi
My son wants to gift me Rs 45 lakhs by transferring the amount from his bank account to mine and preparing a gift deed too while we are at it.

I want to open a Bank FD with that amount. My question is: will the interest income be clubbed in the hands of my son?
Jan. 22, 2018
Hey...I have earned income through tution...Can I avail benefit of Section 44ADA? My income is around Rs 200,000....

Jan. 05, 2018
The Institute of Chartered Accountants of India (ICAI): How many attempts you took to pass CA final?
Feb. 06, 2017
Hey...I have obtained a credit card with spending limit of Rs 500,000….My salary is around 300,000 only...My card dues are sometimes paid by my parents...Will the amount paid by my parents to credit card company on my behalf be taxable in my hands??

Jan. 02, 2018
Chartered Accountants (CA): What are some good Career backup plans if a student is not able to complete CA course?

CS - the next best option. 2 years studies and 1 year internship . As simple as that. If you intersted in knowing various laws and can handle theory easily it's for u. Combine LLB with it for maximum benefit.

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