The Commerce Hub

14/05/2018

All the best for the results....

06/05/2018

04/05/2018

30/06/2017

आप सभी को GST मुबारक !

29/05/2017

all d best for results....

31/12/2016

thanks everyone

19/12/2016

CBDT has amended Sec. 44AD of Income Tax; Now Deemed Profits to be taken at 6% (instead of 8%) in the case of Gross Non-cash Turnover; Move by Govt to promote Promote Digital Payments among small traders & for Creation of Less-Cash Economy.

17/12/2016

Political parties pe tax exemption pe log aise react kar rahe hai jaise ye rule abhi aya ho , padhe likhe moorkh log ap ko maloom hona chayiye ki it is alraedy exempted since many years, now its duty of our PM to amend the same....

11/11/2016

Do not panic

If unaccounted cash or black money are deposited into bank and appropriate tax (maximum 30% plus surcharge) is paid on this additional income, no penalty for under reporting or misreporting can be imposed by assessing officer u/s 270A of Income tax Act, which has been newly introduced from current year. Even, tax payer is not required to substantiate source of income and income can be declared without disclosing head of income. This is because penalty for concealment can be levied only on difference between assessed income and returned income. This view is based on bare reading of section 270A itself. So penalty of 200% under no circumstances can be levied on such income disclosed in return of current year. With due respect, I have to say that The news paper headlines that '200% penalty on unaccounted cash deposits of over ₹ 10 lakh' published in today's Time of India and other media are misleading.

I therefore advise not to sell the notes at discounted prices or deposit the cash into bank accounts of other benami persons in fear of penalty. Further, do not claim any bogus expenses or bogus loss to gain more trouble. Do not manipulate accounts by creating bogus cash on hand. Be good citizen and pay tax honestly to buy peace by building capital. This disclosure by paying tax at maximum of 30% will be advantageous compared to IDS where rate of tax was 45%.

11/11/2016

Pls don't believe on viral social media posts, rumours .

Consult your advisors. Help others to understand the exact issues in demonitization of old notes.

It is also a service to nation.🙏🏻🇮🇳

09/11/2016

Some advise

Do not deposit cash more than Rs.2 lakh at one time in bank saving account. To avoid Income tax department Notice regarding cash deposit more than Rs.200000/-

Till 30th December no limit for depositing cash in bank

Pan card must for depositing Rs.50000 /- and more.

do not panic and rush to the banks or post office for depositing the old notes.

Understand the impact. When you go to the bank for depositing the same you first check that whether you have cash balance in your books or not.

Because this is going to create a prob and inquiry in Income tax. So please b careful.