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certificationtraining · 1 year

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GST Course with Benefits, Scope & Job Opportunities

Goods and Services Tax (GST) course provides individuals with a comprehensive understanding of the GST framework, regulations, and compliance requirements. GST is a unified indirect tax system implemented in several countries to streamline taxation and create a common market. Completing a GST Course equips individuals with the necessary knowledge and skills to navigate this complex tax regime.

Benefits of GST course:

1. Regulatory Compliance:- GST is a complex tax system with specific rules and regulations. By undertaking a GST Course in Delhi, individuals gain a thorough understanding of the legal and compliance aspects of GST, ensuring accurate and timely filing of returns and adherence to tax obligations.

2. Cost Optimization:- Understanding the nuances of GST allows businesses to optimize their tax planning and strategies. A GST course provides insights into various exemptions, credits, and input tax mechanisms, enabling organizations to effectively manage their tax liabilities and maximize cost savings.

3. Career Growth:- GST has a significant impact on businesses, making individuals with expertise in this area highly sought after. Completing a GST Course in Noida & Delhi enhances your employability and opens up opportunities in taxation departments, finance roles, and consulting firms. It can also be valuable for entrepreneurs and business owners to navigate GST-related challenges.

4. Business Efficiency:- A GST course equips individuals with the knowledge to effectively implement GST systems and processes within organizations. This enhances operational efficiency by streamlining tax compliance, simplifying invoicing and billing, and ensuring smooth integration with existing financial systems.

Scope of GST:

The scope of GST is extensive, covering various industries and sectors. Governments worldwide have implemented GST to replace multiple indirect taxes, creating a standardized tax framework. Consequently, there is a growing demand for professionals with GST expertise. Roles related to GST can be found in accounting firms, tax consulting companies, finance departments of businesses, and government agencies involved in tax administration. GST Course in Laxmi Nagar Delhi

Job opportunities:

Completing a GST course opens up a range of job opportunities. Some potential roles include:

1. GST Consultant:- Provides advisory services to businesses on GST compliance, tax planning, and implementation strategies.

2. Tax Analyst:- Analyzes and interprets GST regulations, ensures compliance, and assists in preparing and filing tax returns.

3. GST Auditor:- Conducts audits and reviews to ensure accurate and compliant GST practices within organizations.

4. Indirect Tax Manager:- Oversees all aspects of indirect taxation, including GST, and ensures compliance across business operations.

5. Finance Manager:- Manages financial activities related to GST, including tax planning, reporting, and compliance.

6. GST Trainer/Educator:- Teaches GST concepts and conducts training programs to educate professionals and businesses about GST compliance and regulations.

In conclusion, a GST Training Course in Delhi provides individuals with the necessary knowledge and skills to navigate the complexities of GST regulations and compliance. It offers benefits such as regulatory compliance, cost optimization, career growth, and improved business efficiency. The scope of GST is broad, and completing a GST course opens up diverse job opportunities in taxation, finance, consulting, and more. By acquiring GST expertise, individuals can contribute to the success of businesses and organizations operating within the GST framework.

SLA Consultants India has the best GST Training Institute in Delhi, Noida, Mumbai, Pune, Hyderabad, Chennai & Bangalore. It is well equipped with advanced infrastructure, lab facilities and experienced trainers. After completion of 70% course, SLA Consultants India offers 100% job placement assistance to its precious students, as having good touch up with the corporate sector in different industries.

#gst course #gst course in delhi #gst course in noida #gst course in laxmi nagar delhi #gst training course in delhi

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education2023 · 1 year

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Know from Expert How to Become a Successful Accountant.

Accounting is the process of measuring, processing, and communicating financial information about economic entities such as businesses and corporations. An Accounting Course typically covers the fundamental principles, concepts, and techniques used in accounting to record financial transactions and prepare financial statements. Topics covered in an Accounting Course may include financial statement analysis, bookkeeping, taxation, cost accounting, auditing, and managerial accounting. Graduates of an accounting course can pursue careers in various fields such as public accounting, corporate accounting, government accounting, or nonprofit accounting. In addition, accounting is a critical skill for entrepreneurs and small business owners who need to track their financial performance and make informed decisions.

Structured Learning Assistance - SLA is known for its excellence in education sector who provides Accounting Course in Delhi, Noida Mumbai, Pune, Hyderabad & Bangalore fortified with a well established infrastructure with advanced lab facility, senior industry expert and modern training system to enhance the knowledge of students. SLA is well known entity having Accounting & Taxation Institute. It is built with all convenient facilities and positive study ambiance for the students. Fulfill the main task of placement, SLA aids in 100% Job Placement after completion of 70% course.

If you're interested in becoming a successful accountant, here is a guide to help you get started:

Earn a Degree in Accounting or a Related Field:- To become an accountant, you will need at least a bachelor's degree in accounting or a related field. Some employers may also require or prefer a master's degree in accounting, finance, or business administration.

Obtain Professional Certifications:- To increase your job prospects and demonstrate your expertise in accounting, consider obtaining professional certifications such as the Certified Public Accountant (CPA), Certified Management Accountant (CMA), or Certified Internal Auditor (CIA). Accounting Course in Laxmi Nagar Delhi, Noida Mumbai, Pune, Hyderabad & Bangalore

Gain Practical Experience:- Internships, part-time jobs, and volunteer opportunities can help you gain practical experience in the field of accounting, as well as network with professionals in the industry.

Develop Strong Analytical Skills:- As an accountant, you will be required to analyze financial data, prepare financial reports, and provide financial advice to clients. Strong analytical skills are essential to becoming a successful accountant.

Stay Current with Industry Trends and Regulations:- The field of accounting is constantly evolving, so it's essential to stay up-to-date with industry trends and regulations. This can be achieved through attending industry conferences, seminars, and workshops, as well as reading industry publications.

Develop Excellent Communication Skills:- As an accountant, you will be required to communicate financial information to clients, colleagues, and other stakeholders. Excellent communication skills are essential to becoming a successful accountant. Accounting Course in Laxmi Nagar

Build a Professional Network:- Networking with other accounting professionals, attending industry events, and joining professional organizations can help you build a professional network that can help you advance your career.

Consider Specializing in a Specific Area of Accounting:- Specializing in a specific area of accounting, such as tax accounting or forensic accounting, can help you become an expert in your field and increase your job prospects.

Pursue Continuing Education:- Continuing education is essential to staying current with industry trends and regulations, as well as maintaining professional certifications. Accounting Course in Noida, Noida Mumbai, Pune, Hyderabad & Bangalore

Develop a Strong Work Ethic:- A strong work ethic is essential to becoming a successful accountant. This includes being reliable, diligent, and ethical in your work.

In conclusion, becoming a successful accountant requires a combination of education, certification, practical experience, strong analytical and communication skills, staying current with industry trends and regulations, building a professional network, specializing in a specific area of accounting, pursuing continuing education, and developing a strong work ethic.

#accounting course #accounting course in delhi #accounting course in laxmi nagar

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collegefundain · 2 years

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PGDM Colleges in Pune

Pune has been a major educational and cultural centre of Maratha people. The city is no doubt a perfect place for higher studies. It is full of universities and colleges which has bought it the title of “Oxford of the East” offering a lot of opportunities to move forward and pursue PGDM courses.

PGDM Course

PGDM stands for Post Graduate Diploma in Management which is also known as Post Graduate Programme in Management (PGPM). PGDM is a diploma program by AICTE recognized b-schools and autonomous b-schools, under the Ministry of Human Resource Development (HRD), which do not come under the UGC. PGDM programs can be revised or updated at the b-school’s discretion with more room for practical application based learning keeping it on par with new industry requirements and standards. PGDM teaching and training are multidimensional. PGDM courses pay high importance to Case study pedagogy as the cases help the students to understand the application of concepts in real-time.

Colleges

The city houses 30 constituent and affiliated colleges of the University of Pune. Some of the popular PGDM Colleges in Pune are Indira Institute of Management, Ramachandran International Institute of Management (RIIM), Pune Institute of Business Management (PIBM), National Institute of Bank Management (NIBM), National Insurance Academy (NIA).

Career Options

A student pursuing PGDM Course from the colleges of Pune get a chance to possess various talents such as analytical capabilities, data interpretation skills, verbal skills, general knowledge, and other talents. The career options available are to work as a data scientist, Consultant, Auditor, General Account, Tax Accountant, Teacher, etc.

Exposure

PGDM Colleges in Pune not only focuses on studies but also upon Co-curricular activities, knowledge sharing and on harnessing student’s capabilities by developing their soft skills. It focuses on providing students different opportunities by organizing seminars, conferences, summer internship, live projects and many more helping them to create good networks with the Industry stalwarts. PGDM programs have mentors with vast experience and leadership roles in various domains.

Facilities

Campus of various colleges is facilitated with latest IT enabled set-up, conference rooms, auditorium, canteen, library and many more for open learning and discussions. The cost of living in Pune is lower as compared to other cities, whether it's for food, lodging, or commuting. Pune is one of the most accessible cities in India.

Placement

Employment is one big factor for candidates pursuing higher studies. Students pursuing this course from PGDM colleges in Pune are getting higher packages. Students are hired and paid well by BCG, Deloitte, PWC, E&Y, and a plethora of other firms.

This information is given by College Funda for the students searching for PGDM colleges in Pune. College Funda wishes a brilliant career ahead to all the students!

#PGDM Colleges in Pune #PGDM Colleges #PGDM

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expertijudiciaribucuresti10-blog · 5 years

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Colaborati cu un consultant fiscal Bucuresti

Este indicat sa optati pentru colaborarea cu un expert contabil Cluj in cazul in care veti dori sa va asigurati de faptul ca veti primi servicii de calitate in domeniul contabilitatii. Exista multe posibilitati si modalitati de colaborare in acest domeniu si veti gasi exact ceea ce va intereseaza in mediul online. Despre contabilitatea unei firme putem spune ca se organizeaza in compartimente distincte, conduse de care mai multe persoane specializate in domeniul contabilitatii. Pentru a tine contabilitatea unei firme in cele mai bune conditii, este foarte important sa angajati persoane cu studii economice superioare. Totodata, este indicat in acest sens, sa incheiati contracte de prestari servicii cu persoanele fizice sau juridice membre CECCAR. In cazul in care veti face acest lucru, veti avea ocazia de a primi serviciile dorite si veti fi pe deplin multumiti de situatia contabila si de faptul ca tineti totul sub control referitor la finantele firmei. Este indicat sa tineti cont de toate aspectele importante in ceea ce priveste selectia unei firme de contabilitate, iar in acest sens, puem aminti de acreditare. Acreditarea reprezinta un element foarte important, deoarece veti sti ca daca firma este acreditata CECCAR, atunci acea firma are persoane reprezentante cu studii superioare in domeniul contabilitatii, conform cerintelor legale. Asadar, este indicat sa tineti cont de aceste aspecte in vederea alegerii serviciilor de contabilitate.

Totul despre practicieni in insolventa Cluj

Un expert contabil va poate oferi mereu serviciile de care aveti nevoie, pentru a sti clar care este situatia financiara si contabila a companiei dumneavoastra. Acest lucru este foarte important in cazul in care veti dori sa va asigurati de faptul ca veti lua deciziile potrivite in perioada urmatoare, referitor la pasii pe care ii veti urma cu afacerea pe care o reprezentati. Este foarte important sa va informati si sa alegeti un expert contabil ce ofera calitate. Despre alegerea unui contabil, putem spune ca reprezinta un aspect foarte important de care va trebui sa tineti cont pentru a primi serviciile dorite. In acest sens, trebuie sa tineti cont de faptul ca este foarte importanta comunicarea pe care o veti avea cu contabilul cu care veti colabora. Un expert contabil, va trebui sa comunice frecvent cu dumneavoastra, si sa va informeze mere in legatura cu tot ceea ce intampla, referitor la business-ul pe care il administrati. De asemenea, este necesar sa va asigurati de faptul ca un contabil va depune mereu declaratiile la timp, conform cu vectorul fiscal si ca platile de taxe vor fi efectuate in mod corect, indeplind astfel obligatiile de plata catre stat. Cu siguranta un expert contabil va poate oferi toate aceste servicii de calitate, in cazul in care va veti asigura de faptul ca decizia luata in ceea ce priveste selectia acestuia este cea mai potrivita.

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Un expert contabil nu este doar angajatul care se ocupa de documentele tale fiscale, ci este cel tare te ajuta sa intelegi ce se intampla cu firma ta, cum trebuie sa se intample anumite lucruri si care sunt solutiile atunci cand intampini dificultati.Tocmai de aceea, trebuie sa apelezi la expertul tau contabil, pentru ca el este cel care iti poate oferi informatii pe care nu te gandeai ca le vei obtine de la un contabil. Cu ajutorul unui contabil expert ai la dispozitie raportari simplificate, separate de balante si bilanturi, astfel incat sa iti asigure o intelegere clara, completa, corecta si rapida a situatiei financiare. In acest fel poti lua rapid decizii importante pentru afacerea ta.

Optati mereu pentru servicii de calitate

In cazul in care veti vizualiza lista evaluatori ANEVAR veti avea ocazia de a lua decizia optima in ceea ce priveste colaborarea cu o persoana specializata in acest domeniu. Despre un expert evaluator, putem spune ca este o persoana juridica sau fizica ce are experienta, competenta si care cunoaste si pune in practica in mod corect, toate tehnicile legate de realizarea unei evaluari in conformitate cu Codul Deontologic al Profesiei de Evaluator. De asemenea, despre un expert evaluator, putem spune ca este membru al unei asociatii nationale profesionale de evaluare recunoscuta si ca fiind de utilitate publica. In acest sens, in cazul in care veti dori sa va asigurati de faptul ca veti colabora cu un evaluator ce ofera mereu calitate, este indicat sa aveti in vedere aceste informatii. Despre exprimarea asupra unei valori putem spune ca reprezinta evaluarea acesteia, de catre un expert evaluator. Despre analiza detaliata a metodologiei de evaluare, putem spune ca va folosi programe de instruire pe parcursul carierei, pentru perfectionarea profesionala. In alta ordine de idei, despre expertii evaluatori ANEVAR putem spune ca au obligatia perfectionarii profesionale, iar acest lucru este posibil prin efectuarea a 20 de ore de pregatire continua anual, indiferent de numarul specializarilor in evaluare. Referitor la calitatea de expert evaluator imobiliar putem spune ca se justifica doar cu legitimatie si parafa avizata pe anul in curs.

Optati pentru serviciile unui

expert contabil Cluj

Expertul contabil este persoana care a dobandit aceasta calitate in conditiile ordonantelor din domeniu, privind organizarea activitatii de expertiza contabila si contabililor autorizati. In acest sens, putem spune ca expertul contabil are si competenta profesionala de a organiza si de a conduce contabilitatea, de a supraveghea gestiunea societatii comerciale si de a intocmi situatiile financiare sau de a efectua expertize contabile. Despre persoanele fizice si juridice ce au calitatea de expert contabil putem spune ca pot efectua activitati de audit financiar si consultanta fiscala cu respectarea reglementarilor specifice pentru aceasta activitate. In acest sens, putem spune ca un expert contabil poate efectua activitati de audit financiar in cazul in care are calitatea de auditor financiar, in baza unor prevederi ale regulamentului de organizare si functionare a Camerei Auditorilor Financiari. In alta ordine de idei, un expert contabil, poate efectua activitati de consultanta, in cazul in care are calitatea de consultant fiscal, in concordanta cu regulamentul de organizare si functionare a Camerei Consultantilor. Este indicat sa aveti in vedere toate aceste chestiuni importante in cazul in care veti dori sa luati cea mai potrivita decizie in legatura cu colaborarea cu o firma de contabilitate sau cu un expert contabil. Totul va fi foarte simplu odata ce va veti informa in legatura cu posibilitatile de colaborare pe care le aveti.

Calitatea serviciilor este importanta

Scopul ultim al planificarii fiscale este acela de a realiza toate elementele unui plan financiar, in modul cel mai eficient posibil. Planificarea fiscala permite un plan financiar care sa fie mai eficient in timp si minimizarea obligatiei fiscale. Fiecare tranzactie financiara, fie ca esti persoana fizica sau o afacere are potentialul de a afecta strategia fiscala. Cand apelezi la specialisti pentru consultanta fiscala vei primi recomandari care iti vor permite tie sau companiei tale sa reduci aceasta povara de strategii fiscale, astfel incat totul sa mearga spre un viitor financiar de succes. Economia pe care o faci prin lipsa contabilului se poate pierde la intocmirea evidentelor contabile sau, mai grav, vei iesi in paguba prin amenzi primite pentru neindeplinirea unor conditii de functionare, care ar fi putut fi evitate datorita serviciilor de contabilitate.

In situatia in care veti alege un expert contabil ce va poate oferi servicii de calitate in acest domeniu, veti avea ocazia de a mentine mereu o situatie financiara clara si veti sti care sunt cele mai potrivite decizii pentru succesul unui business. Exista multe variante prin care puteti colabora cu persoanele specializate in domeniul contabilitatii si nu va trebui decat sa va informati pentru a lua cea mai potrivita decizie. In alta ordine de idei, este importanta utilizarea unui soft de contabilitate si ca urmare a faptului ca informatiile vor fi pastrate intr-un mod centralizat, iar generarea de rapoarte va fi una facila. Este foarte important sa va asigurati de faptul ca veti colabora in acest sens, cu o firma de contabilitate ce va poate oferi mereu servicii de o calitate superioara in acest domeniu. Veti avea ocazia de a lua decizia optima referitor la colaborare, in cazul in care va veti informa. In cazul in care veti tine cont de toate aceste informatii importante referitoare la colaborarea cu o firma de contabilitate, veti lua cu siguranta cea mai potrivita decizie. Pe de alta parte, daca sunteti in cautarea unor modalitati optime de informare in acest domeniu, tot ceea ce trebuie sa faceti in acest sens, este sa intrati pe site-urile companiilor ce ofera servicii de contabilitate. Astfel, veti avea la dispozitie informatii complete despre acest domeniu al contabilitatii.

In cazul in care sunteti in cautarea unui consultant fiscal Bucuresti este indicat sa va informati inainte de a lua decizia colaborarii. In mediul online exista multe informatii despre ceea ce poate oferi un consultant fiscal, si veti lua decizia optima tinand cont de aceste informatii. Despre profesia de consultant fiscal, putem spune ca este una liberala si reglementata prin lege, iar cei ce vor dori sa opteze pentru aceasta profesie vor trebui sa dea un examen pentru a deveni membri ai Camerei Consultantilor Fiscali. In ceea ce priveste colaborarea cu un consultant fiscal, veti avea ocazia de a lua decizia optima in acest sens, in cazul in care va veti informa si veti tine cont de toate aspectele importante. Referitor la consultantii fiscali, putem spune ca sunt cei care acorda asistenta fiscala si presteaza servicii profesionale in domeniul fiscal. Pe de alta parte, in cazul in care veti dori consultanta in domeniul fiscal, este indicat sa colaborati cu persoanele ce isi desfasoara activitatea in acest domeniu. Consultatii fiscali, asista si reprezinta contribuabilii in fata organelor fiscale, inclusiv in perioada unor inspectii. Totodata, acorda asistenta privind creantele bugetului si persoanelor in cauze aflate pe rolul unei autoritati jurisdictionale. Despre consultantii fiscali, putem spune ca sunt obligati sa asigure raspundere profesionala, ca si in cazul avocatilor. In cazul in care veti dori sa colaborati cu un consultant fiscal, veti gasi detalii complete in acest sens, in mediul online.

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capslearning · 2 years

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Top 10 CA firms to work with as a Chartered Accountant

Have you completed both groups of CA Final Exam? If yes, then now you can apply for a position in one of the top firms in accounting sector.

In this blog we will discuss about the top 10 CA companies to build your career as a CA. Reading this blog will surely help you to shine in the Chartered Accountancy profession.

So, let’s start with biggest 4 CA Firms and other 6 reputed companies in India.

Here you will learn about the top 10 CA organizations in India – it’s beginning to its growth and development.

Also, students who have cleared any 1 group of the CA Intermediate examwill also take this as a chance to find best CA Articleship firm for themselves.

Top 10 CA Organizations:

There are many CA companies in India. But before you join any of them you should check many factors like career opportunities, salary package, growth opportunities, work environment, culture and more.

Below are top 10 companies list keeping in mind all the factors.

1. Deloitte India

Deloitte offers services like audit, tax, financial advisory, legal, consulting services, and risk advisory too. This accounting firm is among the big 4 CA firms in India.

Outstandingly, Deloitte India is among the major professional services networks in the world by the number of professionals and in terms of revenue and assets.

Deloitte India provide opportunity to trainees to learn services like Audit, Tax, Enterprise Risk, Consulting services and Financial Advisory services.

It is true that Deloitte India has 200,000 employees around.

2. Price Waterhouse Coopers India - PwC India

Price Waterhouse Coopers (PwC India) has a multi-venture network of professional services in the country. It is the second-largest network of professional services in the world. In terms of revenues, it has its growth among the top 4 big shot auditors. Also, it has its name among the best CA firms keeping the same pace in terms of growth with Deloitte India, EY India and KPMG India.

PwC India has a global network in more than 157 nations along with more than 280,000 brilliant professionals.

PwC India has mission to offer best quality tax services and advisory services.

CA aspirants have the chance to build their career in Price Waterhouse Coopers India.

3. Ernst & Young India (In short EY, India)

EY India is one of the biggest 4 CA Firms in India. EY India organization has four main services for the deserving candidates who are willing to build their career in CA as

Transaction Advisory services,

Assurance Services,

Advisory Services,

Tax and Consulting services.

EY India is the member firm of Ernst & Young Global Ltd. Which is having its’ own legal entity in the nation. EY India is a UK based company providing professional services from the headquarter in London, United Kingdom.

4. KPMG India

KPMG India Private Ltd is second on ranking of best CA firms in India. The company made its beginning in the year 1993 in India.

In India this CA organization has full functional offices in Ahmedabad, Bengaluru, Chandigarh, Chennai, Gurugram, Hyderabad, Kochi, Kolkata, Mumbai, Noida, Pune, and Vadodara.

KPMG India offers all types of Financial Services, Business Advisory, Tax related regulatory, Risk advisory services to its clientele.

KPMG India has employees more than 175,000 individuals and has special services like Audit, Advisory services and Taxation.

To a CA trainee, KPMG India offers plenty of opportunity to develop their knowledge. They boost their motivation to learn first and earn later.

You can rest assured that for career-building opportunities, KPMG India provides plenty scope for the aspiring CAs and make them to learn first and earn next.

5. BDO India

BDO India is one of the best CA organization in India that has a professional attitude for the growth of deserving and aspiring candidates willing to make a sound career in finance, accounting, and tax consultancy.

It is among the 5thlargest accounting networks in the world with a network of professional services like Tax-related regulatory, Risk advisory services, Financial Services, and Business advisory related to other accountancy firms and is serving national and international clients for years with vast experience and goodwill.

BDO India is started in 1988 from Binder Seidman International Group, well known in Canada, Germany, the Netherlands, the UK and the USA.

6. Grant Thornton International

Grant Thornton India is developing CA firm in the country. It aims to be the best Taxation, Assurance and Advisory company in India. Determined deserving students willing to be a CA in the future can easily be a trainee at first and get paid after learning at Grant Thornton India. This is one of the top CA firms in India that has more than 3500 professionals on the payroll across 13 branch offices in the country.

The company ensures growth navigation solutions and strategic compliance services in complex business affairs for its growth in services via focused practice groups across the nation. Grant Thornton India has offices in Ahmedabad, Bengaluru, Chandigarh, Chennai, Gurgaon, Hyderabad, Kochi, Kolkata, Mumbai, Noida, and Pune.

Grant Thornton is among the world’s leading CA organizations of Tax, Advisory and Independent Assurance services for more than a century. It provides valued services to its clients intending to grow to adapt to the market conditions and make solutions about dealings at the corporate level.

7. RSM India

RSM is one of the top tax, accounting companies in the nation. It is located in cities like Mumbai, New Delhi-NCR, Chennai, Ahmedabad, Bengaluru, Gandhidham, Hyderabad, Jaipur, Kolkata, Pune, and Surat and has over 2200 personnel.

The company has experience in Audit, Tax and consulting with affiliated offices across the world. You can gain confidence here and develop your career with full potential. It allows you to start your career with full power and potentiality.

RSM is on rank 7 with biggest network in professional services of Audit, Tax and Advisory firms. It has the reputation as the leading global provider in taxation services of the world.

8. SR Dinodia & Co. LLP

SR Dinodia & Co. LLP, in New Delhi is one of the best audit, tax, accounting and consulting firms in India. This is one of the best CA firms in India in which many students are trying to join. You can be rest assured to make your distinctive career prospects in the field of Accountancy, Tax, Auditing or Consultancy services and as you learn and groom you can easily open a new business or get an opportunity to a top-notch company in the CA capacity.

9. Lodha & Co.

Lodha & Co. is one of the top 10 CA firm which started in 1941 with its branches in India. The Lodha & Co. branches are present in Kolkata, Chennai, Hyderabad, Mumbai, New Delhi and Jaipur. It provides opportunity to students for a successful career building in the field of CA. They offer services to many corporate clients, Banks, PSUs, Insurance companies, etc. across India. This firm has 18 partners, supported by expert team members which includes CA, CS, CMA and Management graduates too.

10. Luthra & Luthra India

Luthra & Luthra in India is one of the top 10 CA firm in India. As a fresher you can develop your career at Luthra & Luthra India. This firm serves many quality services to its clients in Audit, Advisory, Taxation and corporate law.

The firm trains aspiring CAs to make their career with creative Accountancy solutions for achieving organizational goals.

So here are all details about top 10 CA firms in India.

All aspiring CA’s out there with full of doubts about your career and need proper guidance for your career visit DG Sharma’s CAPS. At CAPS Learning, we provide proper guidance and support, we’re always focused on career growth.

Join DG Sharma’s CAPS – best CA coaching class in Nagpur and start your bright career.

#best ca coaching #ca coaching institute #caps #best ca coaching nagpur #ca online classes #ca

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rohini-gupta · 2 years

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Top 3 BBA Specializations to Choose From After 12th

Choosing a career option after class 12th can be confusing or may seem difficult at times since there are several thriving career options to choose from. Out of these, one of the most popular choices opted by students is management.

Following the path, students aim to enrol in the best colleges for BBA in Delhi NCR, Mumbai, Pune, or any other part of the country. The BBA course teaches you business management and leadership skills right from the beginning. It is designed the same as that of an MBA but on a beginners level. It also has specializations just like MBA.

These specializations determine what field your management career will be in. Therefore, what you choose now will impact your future education and career.

In this article, we bring you the top 3 BBA specializations you can choose, their benefits, and how they will help you out if you’re considering doing BBA.

BBA in Banking and Insurance

A Business Administration degree in Banking and Insurance equips students with skills, training, and knowledge of banking and insurance theories and principles. This course focuses on basic management concepts and provides specialized training in the following subjects:

International banking and insurance

Risk management

Investment banking

Treasury operations

Project and Infrastructure

Benefits of the course

Educate students about the basic understanding of the insurance and financial markets

Exposure to global competition

High placement chances

This course helps in creating structured insurance and financial planners

Students can serve as a lecturer/teachers in colleges or universities as the course will provide them with an in-depth knowledge of the specialization

Job Opportunities

Investment Banker

Administrative Officer

Agent & Broker

Insurance Manager

Assistant Controller

Investment Analyst

Treasurer

Credit & risk manager

Loan Counsellor

Stock Analyst

Asset Manager

Internal Auditor

Customer Service Representative

Personal Financial Advisor

Loss Control Specialist

BBA in Finance

BBA Finance is a 3-year undergraduate program in financial management. Students in BBA in Finance courses learn how to make predictions and forecasts about investments and insurance. During this program, students acquire theoretical & practical knowledge of financial elements such as investments, portfolio management, financial engineering, international finance, and corporate finance.

Benefits of the course

In-depth knowledge in banking & finance

Countless jobs opportunities available in this domain

Professional qualification in banking

If willing to opt for research studies, students can enrol in a Master’s degree followed by a research

Job Opportunities

Financial analyst consultant

Financial manager

Credit analyst

Tax assistant

Marketing & sales executive

Research analyst

Recovery agent

BBA in Human Resource

BBA in Human Resources Management is one of the most popular UG management programs. The Human Resources/Personnel Management course is a blend of general management techniques and expert training. It is all about managing and training human resources to increase productivity.

Benefits of the course

Higher chances of establishing a successful career in HR departments

Updated course content — thus, keeping the students well-informed about the current market trends

You learn to build culture and values in the organization

Job Opportunities

HR executive

HR manager

PR manager

Trainee Human Resource Management

Purchase/Vendor Development manager

Production manager

Quality assurance/ Quality control manager

HR consultant

Regional manager

So these are the top 3 BBA specializations that one can choose. There are ample opportunities for students who want to pursue BBA as a career option. Any student wishing to go for BBA, we suggest SCMS NOIDA, one of the top BBA Colleges in Delhi NCR, with great educational plans and the best teaching skills!

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apnajobs · 3 years

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What are the popular career options in India?

Ready to start working but not sure about your career options? Let us help you with some popular career options in India. Read on.

Making the right career choice is important, especially if you want to make your own mark as a professional in your career trajectory. Otherwise, it may become a painstakingly long exercise trying out different vocations to finally find your true calling. While some people choose one line of work and stick to it throughout their career, there are many who dabble with different career options before settling down with a particular career choice. You can find success in either path, as long as you keep learning and remain dedicated along the way.

Gone are the days when our parents or grandparents were stuck with a handful of career choices. The world has changed and has opened up a huge number of career options for this generation of job seekers. With all the options available for a fresher today, the pressure of choosing a career may become overwhelming and confusing.

To help you make an informed decision and make the process of finding the right career option easier, here is a list of the most popular career options in India. This list will help you:

Understand the career options that are best suited for you

Decide your professional choices based on your interest, personality and skills

Narrow down your career options in case you want to try out different lines of vocations

Career options to set you towards the right professional direction

1. Technology

Technology is by far the most popular career option of the 21st century. It drives the economy and advancement in almost all the nations of the world. Needless to say, there is a huge demand for technology experts in the job market. Technology firms are always on the lookout to hire Software Engineers, Developers, Hardware Engineers, Tech Architects, Programmers, Coders, Quality Analyst (QA), Design Engineers, Tech Managers, Front End Developers, Back End Developers, Testers, Products Specialists…the list goes on. So, if you love innovation & technology and are curious about how it all works, then this field is for you.

2. Marketing

Marketing is a highly attractive career option for people who are creative and can find a selling opportunity in everything under the sun, right from a pin to a plane. In today’s competitive business space, every product or service requires sales and marketing, which makes this an attractive career choice for management graduates. People with excellent communication, persuasiveness and presentation skills can excel in this field. You can find jobs such as Sales Executive, Sales Manager, Marketing Manager, Customer Representative, Relationship manager, Digital Marketing Executive, SEO, Graphic Designer, Telecaller etc.

3. Finance & Banking

This career choice is best for students who are good with numbers, data crunching and analysis. Finance graduates are highly coveted professionals as they help organizations in maintaining accounts, estimating costs, making budgets, profit maximization and preparing financial reports. Popular career options related to finance and banking segments are Accounts Executive, Chartered Accountant, Company Secretary, Financial Planner, Auditor, Banker, Wealth Consultant and so on.

4. Human Resources

All businesses need one important thing to keep running: People! The department that takes care of the life cycle of an employee in the organization, right from recruitment to resignation, is the Human Resource department. So, it’s evident that professionals in this field are an integral part of any company, irrespective of its line of business and size. An HR is responsible for hiring people, managing them during their association with the company, retaining them to keep attrition levels low, and carrying out the exit formalities in case of a resignation or retirement. If you are a people’s person, you can give this career option a thought. The HR field offers job titles such as HR Manager, Recruiter, Payroll Executive, Generalist HR, Labour Relations Officer, HR Compliance Executive and more.

5. Law

Every business organization, small, big, or medium, has to conduct its business within the legal framework of the country. Therefore, this career option is an inseparable part of any company. Recently, the field of law and legal practitioners have gained a lot of popularity due to the increasing complexity of business regulations, stringent policies and tax rules in almost every work sector. This has generated a huge number of employment opportunities for law graduates who can specialize in corporate law, international law & policies, tax law, labour law and a lot of other laws and policies.

6. Unconventional career options

Apart from these popular career options, there are some other options too which have garnered interest in recent years and are attracting a massive number of talented and qualified individuals. These career choices include Data Analyst, Statistician, Fashion Designer, Illustrator/ Graphic Designer, Content Writer, Linguistic Expert, Counsellor, Psychologist, Tutor, Blogger, Entrepreneur, Social Worker, Chef and many such offbeat career paths.

Hopefully this list of professional choices will help you to narrow down your choices for a career that you will find fulfilling in the long run. If you are ready to embark on your professional journey, the easiest and most effective way to begin is to join the apna app. The app offers jobs in over 70 categories across Delhi NCR, Bangalore, Mumbai, Pune, Ahmedabad, Jaipur, Ranchi, Kolkata, Hyderabad, Surat, Lucknow, Ludhiana, Kanpur & Chandigarh. Apart from this, the app facilitates professional networking and skill development for continuous learning and the best opportunities.

Join apna app now!

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iconnectfin · 3 years

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OPC Registration in Pune | One Person Company Registration in Pune

Are you an individual who is looking forward to establishing a business availing all features equal a Private Limited Company, then One Person Company is the best solution for you! One-person company viz. is also denoted as OPC. It is also phrased as “the one-man show”. OPC is formed and can be registered by one person (single), by an individual.

Required Documents Documents Required for Director:

(First 3 documents should be self-attested by directors)

PAN card or Passport of Directors (Scanned copy) Passport (for NRI, Foreign delicates) Scanned copy of Voting card or Driving license. Electricity bill/Bank account statement/Mobile bill/Utility Bill’s. One passport size photo Signature specimen Documents required for registration of company:

Scanned copy of Current Bank account statement/Electricity bill If the premise is rental then No Objection Certificate Rent Agreement If the premise is owned then the Sale Agreement/Property deed

One Person Company Registration in Pune OPC is ruled by the Companies Act, 2013. OPC is required to be registered as per the norms and provisions of the companies act, 2013. The concept of OPC is specially introduced and brought into light for individual entrepreneurs.

Last Few years Before, OPC came into focus in India to open up the market for individual entrepreneurs. OPC brought a change in traditional formats of business like PVT LTD CO., LLP, and Partnership.

OPC knocked as an opportunity for new entrepreneurs, investors, startups who were trying to establish and expand their business, allowing them the advantages of limited liability, owing separate legal entities, with less tax compliance. Get your business registered as One Person Company Registration with I Connect Financial Solutions.

Thus, this is the most preferred and accepted format under corporate business registration by entrepreneurs, startups, Investors, Businessmen in India, and across India.

What are you waiting for? Get associated with the most trustworthy and renowned firm in Pune backed by a team of experts who will guide you and help you throughout your journey. We understand, acknowledge, and then provide our best services and consultation to you. I Connect Financial Solutions would be a one-stop destination for your One Person Company registration (OPC registration) in Pune.

JOIN IN NOW!! FOR HASSLE-FREE REGISTRATION PROCESS & CONTINUOUS LEGAL GUIDANCE JUST ONE CALL AWAY!!

Minimum Requirements Minimum One Shareholders Minimum One Directors The directors and shareholders can be the same person. DIN (Director Identification Number) for all the administrators. DSC (Digital Signature Certificate) for all administrators. Minimum authorized capital required.

What You Get Director Identification No (DIN) Digital Signature (DSC) Name Approval Certificate Memorandum of Association (MOA) Articles of Association (AOA) Certificate of Incorporation Company PAN TAN (Tax deduction Account No.) Current Bank Account Opening Assistance

Frequently Asked Questions What are the requirements to register under OPC? – Minimum requirements to register under the OPC:

One shareholder One Nominee Note: In OPC formation director & shareholder can be the same person Director Identification Number. Digital Signature Certificate Who can do the registration under an OPC? – Registration under an OPC can be done by the residents of India, and that can be done only by one person.

Why should one opt for OPC? – An OPC is the best option for an individual or sole proprietor as it serves the benefits of limited liability, a separate legal entity with perpetual succession. Any individual who wants to start Pvt. Ltd. Co. can go for OPC.

Can one person start another OPC? – No. One person who has already started an OPC cannot register or start another OPC, this rule is applicable for nominees too.

Can you explain about Nominee? – In OPC the person who starts the business is the only director and shareholder of Co. Whereas the person is known as the nominee director, he/she can be a parent, siblings, or spouse. They can’t raise funds or offer employee stock options. Nominee can only overtake the Co. in case of death or disablement of the director.

What is the tax compliance under OPC? – For OPC it I’d mandatory to submit annual reports, annual compliance includes appointing an auditor, statutory audit, annual return filing, roc filing, KYC of directors. This also includes TDS filing, GST filing, etc…

But when you get associated with I Connect Financial Solutions, there is no need to worry about all the tax compliance we take care of it filing it in time.

Is it mandatory to hold AGM for OPC? – No. In an OPC there is only one person, who is the director as well as a shareholder of the company. So it is not required to hold an AGM.

Is appointing an auditor compulsory for OPC? – OPC serves all benefits as the Pvt. Ltd. Co. including all it’s legal & tax compliance. It is mandatory for OPC to get books of accounts audited by CA (Chartered Accountant) and thus appointing auditor is complusary.

#OPC Registration in Pune #One Person Company Registration in Pune #One Person Company Registration

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bestarchitectsinpune · 2 months

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Are you looking for a top tax audit firm in Pune, India? CA JSDK is one of the best audit firms among all audit companies in Pune, providing audit services, tax auditing services, etc. Call us now!

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annubs-tcs · 4 years

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Mount Carmel Direct BCom General Admission

The College is a minority institution that mainly runs for Catholic Students, and it gives place to all the candidates despite any caste and creeds. They take inspiration from the person and the teachings of Jesus Christ, Universal Master, and Model of Education. The institute also tries to promote holistic development. Get Mount Carmel Direct BCom General Admission for 2020 Session.

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Career Opportunities

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Once you are done with B.Com, you can choose your preferred job profile from the numerous options available. A B.Com student can choose to be any of the following:

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Accountant Executive

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Finance Manager

Cost Accountant

Finance Analyst

Finance Planner

Portfolio Manager

Statistician

Economist

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Also Read

Mount Carmel BCom Professional Direct Admission

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isocertificationinkuwait · 5 years

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What are the importance of ISO 9001 Certification Consultant for your organization?

what is ISO 9001 Certification ?

With the best responsive and fulfilments what is required ISO 9001 Certification in Qatar for your organizations can expect to achieve certification within 3 to 6 months. This is depending on their size of business and complexity.

At this point it is necessary to top ISO 9001 Certification Consultant in Singapore who has experience of implementing (QMS) Quality Management System and who have experience what is needed to get ISO 9001 Certification Once the groundwork and the ISO 9001 Quality Manual has been finished, you will be ready for your stage 1 audit report.

ISO 9001 Auditor will check that what you written quality Management System meet the most of the ISO 9001 and match what you are correctly doing and highlight any region of deficiency/issues and future improvement of the system.

If you are thinking necessity any changes have been made your company will be ready for stage 2 Certification Assessment. Then The Tax auditor will check that are you working to the requirements of ISO 9001 Standard. It’s may be counted by third party.

Quick guide for getting ISO 9001 Certification

Company should have a clear idea of your requirements and what profits it will gain by getting ISO 9001 Certification in Pune . You have to be prepared to incorporate the Quantity Management System into each region of the organization.

All customers must have aware of ISO 9001 what is expected of them and where their areas of responsibility lie, in order to getting ISO 9001 Certification in Singapore.

Documented Quality Management System (QMS) is mandatory together with the policies and procedures essential by ISO 9001.

The Documentation will define:

1. Company structure

2. Responsibilities of customers

3. Who should record information and what information is recorded

4. How continuity will be maintained as employee change

5. What actions are required

6. Lines of communication throughout the company.

Management of Documentation

You need to communicate to all of your staff, the importance of keeping records and using the correct document.

Control the use of documents to ensure the newest version is used is a being used is an important of ISO 9001. You will need a robust system to ensure old versions are removed and new versions distributed to the various internal departments, together with a system for various control.

You should identify which records are to be kept to comply with the requirements of your ISO 9001 system and what you need to successfully run the business.

Corrective and preventive measure

You should keep records of any actions you have taken to rectify a problem. Where possible you should identify potential problem areas and setup system prevent before it happens.

Inevitably process can go wrong and you need to have a defined process for fixing the problem and identifying where it went wrong, before making changes to prevent it from happening again.

On-going and training

Staff should be suitable trained to ensure they capable to carrying out their job function. You must have keep records of past experience, education and training to identify their capabilities.

Future training requirements can be implemented together with any new skills that may be needed s the business evolves.

By using this information, you will be able to identify the gaps in experience if install any new equipment or add new products.

Regular internal Quality Auditing

For this own system is required. Person with in your organization who are independent of the function being audited may carry these out. The internal auditor will check that procedures in the Quality manual are followed and will identify any areas of concern to be rectified. You must have a procedure for how audits are to be planned conduct and recorded.

ISO 9001 Benefits:

ISO 9001 certification in Philippines gives maximum profit to your Business if it Process ISO 9001 implementation in Philippines a practical way. This will ensure that the Quality Management system that are adopted, work to improve the organization and are not just a set of procedures that your Clients will find hard to manage.

By changing this process that status out to implement more efficient working practices and target on the organization objectives of the business, you will get a system that will help and support your employees, improve your levels of Client satisfaction and allocate an internal resources to carry out the initial assessments, you will need to ensure that have buy-in from senior management, so all areas of the organizations aware of the importance of the ISO 9001 Certification in Philippines process.

ISO 9001 certification it is suitable for any business that benefit from adopting efficient ISO 9001 Certification in Singapore that will save cost and time, it improves efficiency and ultimately improve Client relationships also.

Benefits to your organization

· Across the organization Sets out regions of responsibility

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loyallogic · 6 years

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Penalty Proceedings under section 271 of the Income Tax Act and How to Tackle It

In this article, Arvind Athithan discusses Penalty Proceedings under section 271 of the Income Tax Act and How to Tackle It.

Introduction

Imagine a situation where a person is doing a business and has a turnover of Rs. one crore p.a. approximately, and his auditor made a mistake in filing of returns due to which the total income for tax computation reduced. On realizing the mistake the person files a revised return u/s 139(5) but the Assessing Officer is not satisfied with the explanations given and declares that he has intentionally concealed the amount for reducing the tax payable. and imposed a penalty of three times the amount of difference between the return filed and the revised returns and an assessment order and demand notice was sent to the person. Now the person should accept his fault and pay the penalty amount as demanded by the income tax officials or he should fight against it to prove his innocence? Well I prefer the 2nd option.

Here in this article, we will discuss about what is concealment of income? and what amounts to concealment? and when it should not be treated as concealment? Whether the penalty proceedings are automatic in nature? how to face those forceful proceedings of such income tax departments and few legal precedents that favors the assessee.

Meaning of “Particulars of income” under Income Tax

Now whether the assessee falls either under the concealment category or under furnishing incorrect details category, one has to understand the meaning of the “Particulars of Total Income”.The Supreme Court in in the case of “Kanbay Software India (P) Ltd. 122 TTJ 721(Pune)” held that the expression ‘particular’ refers to facts, details, specifics or the information about someone or something. Thus, the details or information about the income would deal with factual details of income and cannot be extended to the areas which are subjective such as status of the taxability of an income, admissibility of a deduction, and interpretation of law. Thus, the terms which does not comes under the above mentioned definition will not be attracted by sec 271(1)(c) of Income Tax Act, 1961 proceedings.

Meaning Of Concealment And Inaccurate Details

The plain reading of section 271 (1) (c) of Income Tax act 1961 clearly states as follows “Concealment of particulars of income or fringe benefits or furnishing of inaccurate particulars of income or fringe benefits” and levies penalty of minimum 100% as a fine and maximum 300% of tax sought to be evaded in addition to tax payable. Now we can clearly see the intention of the provision, that it doesn’t want a person to evade two types of tax evaders; firstly, those who conceal and secondly those who gives the details found to be false and the details include about the documents, person, computers and it also includes the benefits like fringe benefits as well. Firstly, the word concealment of particular income denotes the word ‘conceal’ as per Webster’s Dictionary means “to hide, withdraw, or remove from observation; cover or keep from sight; to keep secret; to avoid disclosing or divulging. That means non-disclosure of particulars of income. Here in the case of concealment a person will have an intention to hide, not to disclose and make himself less burdensome to the tax authorities and pays less tax and eventually caught up by the ITO in the event of assessment proceedings.

Secondly, where particulars are disclosed but such disclosure is not correct, true or accurate, it would amount to furnishing of inaccurate particulars of income. For example, sale is shown but at a lesser value, it would amount to the furnishing of inaccurate particulars of income. It is important to note that the wrath of the act comes into play only when there is an assumption of two things i.e.

An assessee have concealed any income,or

He has furnished his wrong returns, with an intention to evade or pay less tax to the government.

Madras High Court in a recent case of Principal Commissioner Of Income … vs Trisha Krishnan held that the burden of proof shifts from the assessee to the ITO once the assessee have submitted her claim with relevant documents then she has intentionally concealed the income earned by them and in this case as the assessee have clearly provided the particulars of the income in the balance sheets and returns so she has no intention to conceal it. Thus, in the case of concealment proceedings, the burden of proof lies in the hands of the assessee to submit the relevant documents for the disclosed income by way of his returns, but once if he establishes it and the very same returns raises any doubt to the Assessing Officer, that the assessee has concealed the income or given the inaccurate details the burden of proof shifts to ITO.

In the landmark judgement “CIT-v- S.V.Angidi Chettiar 44 ITR 739 SC” the apex court held that the assessee has either concealed the particulars of income or has furnished inaccurate particulars of income is the condition precedent for imposing penalty and such satisfaction must be arrived at in the course of any proceeding under the Act.

Concealment Proceedings are different and It must be in writing

Thus in order to initiate a concealment or penalty proceedings the assessing officer have to prove his satisfaction that the assessee have concealed his income and most importantly the reasons for his satisfaction must be communicated to the assessee through the assessment order. The AO have to record his reasons for such satisfaction in the assessment order., the situation where the concealment occurred or given with false details must be prerequisite for initiating penalty proceedings under the above section. Mere observations “penalty proceedings are being initiated separately” is not enough.

Satisfaction of AO is Important and it must be on record

The Satisfaction of the AO on the assessee is very much spine for Section 271(1)(c) penalty proceedings. The Assessing officer arrived to a conclusion by way of writing in the assessment order that either he got satisfied for the concealment of particulars of total income or inaccurate details it is held in “CIT vs. Mohinder Lal 168 ITR 101”. It is the very foundation of the penalty proceedings and thus the condition must be satisfied. If, the Assessing Officer to whom the assessee submits his true returns and the AO cannot levy penalty outside the books of accounts. It is mandatory to record the satisfaction into the books disclosed and the penalty for concealment cannot be levied where any income arising outside the books of account is disclosed voluntarily in the original return. For example, where ‘A’ had purchased a land ten years back out of undisclosed money but sold during the year resulting in capital gain and such capital gain is disclosed in the original return then penalty for concealment cannot be levied. Even a receipt of doubtful nature or a receipt in respect of which, no satisfactory explanation can be given, can be declared as income in the original return without inviting any penalty.

In the case of “Jeetmal Choraria Vs. ACIT” the Hon’ble Income Tax Appellate Tribunal (ITAT) of Kolkata held that before initiating the penalty proceedings the AO has to see the intention of the assessee, in the present case he doesn’t have any intention to conceal and the notice sent by AO doesn’t carry proper details whether the assessee have been initiated against the penalty proceedings are either under concealing or for furnishing inaccurate details hence the appeal has been allowed.

The Hon’ble Karnataka High Court in the case of “CIT v. Manjunatha Cotton & Ginning factory [2013] 359 ITR 565” took a view that imposing of penalty u/s 271(1)(c) of the Income Tax Act,1961 is bad in law and is invalid for the reason that the show cause notice u/s 274 of the Act does not specify the charge against the assessee as to whether it is for concealment of particulars of income or furnishing of inaccurate particulars of income. The court came to the conclusion that imposition of penalty on defective show cause notice without specifying the charge against the assessee cannot be sustained.

In the case of “Syamal Baran Mondal v. CIT [2011] 200 Taxman 107”, the Court opined that Section 271(1)(c) of the Income Tax, 1961 does not mandate the recording of satisfaction about concealment of income to be in specific terms. The satisfaction of AO must reflect from the order either with express words recorded by the AO or by his overt actions. In the present case, actions of the AO did not match the provisions of the Act, hence the case was allowed and the order of AO got struck down. This makes it clear that the AO has to provide in writing whether the person has concealed it or furnish accurate details in writing with explanation, otherwise the order will become invalid. An Assessee shall be not penalized for two Charges

In “CIT-v- Lakhdhir lalji 85 ITR 77(Guj)” it was held that “If an assessee have initiated with the penalty proceedings u/s. 271(1)(c) of the Income Tax Act, 1961 for the purpose of concealment of Income the assessee cannot be charged for filing inaccurate details” in other words a single assessee cannot be assessed for two penalty proceedings for the same assessment year Manu engg. Works 122 ITR 306 (Guj).

It is much pertinent to note that the AO shall be clear by way of his assessment order that whether the penalty has been levied for concealment of income or for furnishing of inaccurate details. Failing which the assessment order shall be considered as an Order bad in law. The basis of satisfaction cannot be altered subsequently IAC.—CIT-v-Kejriwal Iron Stores 168 ITR 715 (Raj).

Likewise the AO has to be very clear about which category the order falls under, either under the concealment of income or furnishing of incorrect details; Absence of the same it will be considered as a bad in the eyes of law and on the other hand the basis of satisfaction cannot be altered subsequently.-CIT-v- Lakhdhir lalji 85 ITR 77(Guj)

What amounts to Concealment or Furnishing of Inaccurate Details?

Madras High Court in Principal Commissioner Of Income … vs Trisha Krishnan Tax Case Appeal No.239 of 2017 held that the assessee will be deemed to be considered as concealed an income under the act only if he failed to include in the total income by way of returns for every assessment year and in a SC the supreme court says that “the Concealment takes place on the date when return is filed without disclosing the particulars of income of that year”. Thus in the above judgement it is very clear from the facts that the AO can consider your returns as a concealment if they find it strange or you have not mentioned it in your total income with an intention to not to disclose it.

In the Ranjith’s case the Assessee had concealed the capital gains and in the course of enquiry by the investigation against Assessee’s wife with regard to certain mutual fund transactions made by her, this concealment surfaced. Whether failure or Non filing of the returns amounts to Concealment or Furnishing of inaccurate details?

The very same question was raised before the Madras High Court in “S.Santosh Nadar – v- Addl CIT reported in ITO 46 ITR 411” and it was held by the court that it is unwise to treat it as a concealment or furnishing of incorrect details. But non filing of returns and getting caught up makes it very worse. The Assessee has to face the scrutiny assessment under section 139 of the act. Thus the choice of not filing of returns rather than concealing it will definitely put you in the risk.

Whether the claims rejected by the AO can be treated as concealment or furnishing inaccurate details?

The mere rejection of ‘a’ legal claim would not amount to furnishing of inaccurate particulars of income or concealment of course as the very same will be treated as mere ejection and unintentional and it will not attract penalty proceedings.

The Supreme Court in Reliance Petroproducts 322 ITR 158 SC held the view that “mere making of the claim, which is not sustainable in law, by itself, will not amount to furnishing inaccurate claim of furnishing inaccurate particulars regarding the income of the assessee”. Let the concealment or furnishing of inaccurate details as the case may be, the AO can make it or levy fine only upto to the extent of the part where the assessee has unable to provide the clear details for the total income.

Penalty proceedings is independent to that of the Normal proceedings and it will not attract Automatic Penalty proceedings

The Penalty attracts depending upon the levy to levy as the case maybe and it differs from case to case. The Penalty proceedings is different than that of the normal concealment or filing inaccurate details. The Madras High Court observed in N. Ranjit Case that “It is not that every case of addition warrants levy of penalty. The application of penal provisions is not automatic and the levy itself depends upon the facts and circumstances of each case”. The act says that, it is not that every case of addition warrants levy of penalty. The application of penal provisions is not automatic and the levy itself depends upon the facts and circumstances of each case. As per the act the AO can levy upto the 3 times of the penalty for the amount concealed or given inaccurate details.

Conclusion

When there is a life there is a hope likewise when there is a process there will be a mistake. But in law mistake of fact is always forgiven but not mistake of law. The assessee may disclose everything and be faithful towards the law, whereas the law always shields him but not the one who commits with an intention. This is what the act says. Working hard is most important but knowing the law is much more to it. Because in many cases assessee have been earning really honest but due to their lack of knowledge of laws and getting stuck with the wrong people and wrong minds they have been treated as they have concealed the income and got verdicted against them. Beware of those people and make sure of yourself have not get cheated. Good luck!

References

https://ift.tt/2vwiLRB Article on concealment of income K.C.Singhal. itatonline.org CIT-v- S.V.Angidi Chettiar 44 ITR 739 SC. Kanbay Software India (P) Ltd. 122 TTJ 721(Pune). CIT Vs. Trisha Krishnan. TCA.239 of 2017. New Sorathia Engg. Co 282 ITR, 642 (Guj). Ranjit Case. CIT vs. Mohinder Lal 168 ITR 101. Jeethmal Choraria Vs. ACIT. Santosh Nadar – v- Addl CIT reported in ITO 46 ITR 411. Reliance Petro products 322 ITR 158 SC. —CIT-v-Kejriwal Iron Stores 168 ITR 715 (Raj). Brijmohan-v-CIT 120 ITR 1. CIT-v- Lakhdhir lalji 85 ITR 77(Guj). CITManjunatha Cotton & Ginning factory [2013] 359 ITR 565. Yamal Baran MondalCIT [2011] 200 Taxman 107. https://ift.tt/2gAs9w2

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juudgeblog · 6 years

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Penalty Proceedings under section 271 of the Income Tax Act and How to Tackle It

In this article, Arvind Athithan discusses Penalty Proceedings under section 271 of the Income Tax Act and How to Tackle It.

Introduction

Meaning of “Particulars of income” under Income Tax

Meaning Of Concealment And Inaccurate Details

An assessee have concealed any income,or

He has furnished his wrong returns, with an intention to evade or pay less tax to the government.

Concealment Proceedings are different and It must be in writing

Satisfaction of AO is Important and it must be on record

What amounts to Concealment or Furnishing of Inaccurate Details?

Whether the claims rejected by the AO can be treated as concealment or furnishing inaccurate details?

Penalty proceedings is independent to that of the Normal proceedings and it will not attract Automatic Penalty proceedings

Conclusion

References

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