CA KAMAL GARG

1. For Normal Taxpayers who have filed all GSTR-3B s: Turnover reported in GSTR-3B Column 2 of Table 3.1 { (a),(b),(c) & (e)} during the Financial Year 2021-22 have been taken into consideration (in case all the returns have been filed for the same). Outward Taxable supplies (other than zero rated, nil rated and exempted). Outward Taxable supplies (zero rated). Other outward supplies (nil rated, exempted). Non - GST outward supplies. 2. For Normal Taxpayers who have not filed all GSTR-3Bs : The following formula is used for extrapolation of turnover: (Sum of taxable value) X ( * No.of GSTR-3B liable to be filed)/(No. of GSTR-3B filed) 3. For Composition Taxpayers opted-in throughout the FY:  Since the Annual Aggregate Turnover limit for opting in as Composition Taxpayer is up to Rs. 1.5 crore, and will use the following extrapolation formula: (Sum of taxable value) X ( * No. of CMP-08 liable to be filed)/ (No. of CMP-08 filed) * Categorisation of taxpayers to derive the number of

1. Definitions Non-Resident Indian (NRI) - NRI means a person resident outside India who is a citizen of India or is a person of Indian origin.  Person of Indian Origin (PIO) -  PIO is a citizen of any country other than Bangladesh or Pakistan, if (a) he at any time held Indian passport; or (b) he or either of his parents or any of his grandparents was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955); or (c) the person is a spouse of an Indian citizen or a person referred to in sub-clause (a) or (b). Person resident Outside India -  A “person resident outside India” is a person who is not a resident in India.  Person resident in India - A person resident in India means  a person residing in India for more than one hundred and eighty- two days during the course of the preceding financial year subject to some conditions. 2. Eligibility (a) Any person resident outside India, may open and maintain NRO account with an Authorised Dealer or

Question 1.: Can I be a fundamental analyst? Answer: Of course you can be. It is a common misconception that only chartered accountants and professionals from a commerce background can be good fundamental analysts. This is not true at all. A fundamental analyst just adds 2 and 2 to ensure it sums up to 4.  To become a fundamental analyst you will need few basic skills : 1. Understanding the basic financial statements 2. Understand businesses with respect to the industry in which it operates 3. Basic arithmetic operations such as addition, subtraction, division, and multiplication The objective of this article on Fundamental Analysis is to ensure that you gain the first two skill sets. Question 2.: I am happy with Technical Analysis, so why bother about Fundamental Analysis? Answer: Technical Analysis helps you gain quick short term returns. It helps you time the market for a better entry and exit. However Technical Analysis is not an effective approach to create wealth. Wealth is creat

We might be keeping our savings under the pillow or in the Gullak. But what happens?  We would always be worried about its safety. Someone may steal it or we may be tempted to use the money or others may borrow money from us.  Also money saved at home does not grow.  The best way to save is to deposit the money in a bank account. While small amounts can be kept in a Gullak, it is wiser to keep our savings in a bank as money kept in a bank is safe.  Apart from safety, banks pay us interest on our deposits, so our money grows in the bank. Banks can be classified into various types such as  Central Banks - Reserve Bank of India (RBI)  Commercial Banks - Public Sector, Private Sector, Foreign Banks and Regional Rural Banks Cooperative Banks RBI being the central bank is responsible for printing currency and managing money supply in the country. RBI also acts as a banker to the government and all other banks.  A commercial bank runs with the purpose of earning profits whereas cooperative ba

Working capital management is a process  which is designed to ensure that and organization operates efficiently by monitoring & utilizing its current assets and current liabilities to the best effect. through efficient use of its resources. PRIMARY OBJECTIVE  OF WORKING CAPITAL MANAGEMENT IS TO ENABLE A COMPANY MAINTAINING SUFFICIENT CASH FLOWS IN ORDER TO MEET ITS DAY TO DAY OPERATING EXPENSES AND ITS SHORT TERM OBLIGATIONS. Working capital management can improve  cash flow management and  earnings quality  through efficient use of its resources.  Management of working capital includes:  Working Capital Management Cash (Treasury) Management Inventory  Management   Receivables  Management  and  Payables  Management Working Capital Management requires  monitoring a company's assets and liabilities  to maintain sufficient cash flow.  The strategy involves tracking three ratios:  Working capital ratio,  Collection ratio, and  Inventory ratio.

Question -  Whether the amounts paid by resident Indian end-users/distributors to non-resident computer software manufacturers/suppliers, as consideration for the resale/use of the computer software through EULAs/distribution agreements, is the payment of royalty for the use of copyright in the computer software, and that the same give rise to any income taxable in India, as a result of which the persons referred to in section 195 of the Income Tax Act are liable to deduct any TDS under section 195 of the Income Tax Act? Analysis: There cane be following 4 cases: Case 1 - Computer software is purchased directly by an end-user, resident in India, from a foreign, non-resident supplier or manufacture.  Case 2 - Resident Indian companies that act as distributors or resellers, by purchasing computer software from foreign, non-resident suppliers or manufacturers and then reselling the same to resident Indian end-users.  Case 3 - Distributor happen to be a foreign, non-resident vendor, who, a

The overall structure of the article follows a logical sequence: Part 1 introduces e-business and e-commerce and their relevance to businesses and consumers. It clarifies e-business terms and concepts such as online business, revenue and technology models by reviewing alternative applications through activities and case studies;  Part 2 approaches to developing e-business strategy and applications are reviewed for the organization as a whole, with an emphasis on buy-side e-commerce and sell-side e-commerce; and  Management of e-business implementation is described in Part 3 in which we examine practical management issues involved with creating and maintaining e-business solutions.  Within this overall structure, differences in how electronic com munications are used to support different business processes are considered separately.  This is achieved by distinguishing between how electronic communications are used, from buy side e-commerce aspects of supply chain management, to the mark