profit and loss

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Latest blogosphere posts tagged “profit and loss”

• Admissibility of deduction from book profit of ‘reduction in revaluation reserve’ under MAT provisions

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 158
  This ruling provides guidance that withdrawal from a revaluation reserve is permitted to be reduced from the book profit, computed under the MAT provisions, only in a case where the book profit was increased by the amount of revaluation reserve in... [[ This is a content summary only. Visit my website www.taxguru.in ...
  1 day ago

• MAT need not be based on audited accounts not complying with the prescribed format: ITAT Mumbai

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 158
  The ITAT held that for the computation of MAT, profits disclosed as per the audited accounts should be adopted, provided the accounts are prepared in the prescribed format. If the accounts are not so prepared, the Tax Authority may substitute the... [[ This is a content summary only. Visit my website www.taxguru.in ...
  4 days ago

• Bernie Sanders: “the day will come” for Medicare-for-all

  
  Peace Arena — Authority: 112
  Bernie Sander’s allotted 30 minutes on his proposal for single-payer health care (after Oklahoma asshat Senator Tom Coburn, on behalf of the Asshat Party, required a reading of the amendment to slow down the process, and Reid demanded Sanders pull the bill so he could kiss Nelson’s ass for Christmas). And anyone ...
  1 week ago

• The difference between the market price and the issue price of the ESOP is not an allowable expenditure

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 158
  Recently, the Delhi Bench of the Income-tax Appellate Tribunal (the Tribunal) in the case of Ranbaxy Laboratories Ltd. has held that the difference between the market price and the issue price of the shares offered to employees under the Employee... [[ This is a content summary only. Visit my website www.taxguru.in ...
  1 week ago

• MAT will be eased for infrastructure companies in new DTC

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 158
  The government is likely to ease the incidence of minimum alternate tax, or MAT, on infrastructure companies. The department of revenue plans to change the proposed direct tax code to exempt these companies from MAT for the first few years since... [[ This is a content summary only. Visit my website www.taxguru.in ...
  2 weeks ago

• Oklahoma Ethics Commission to consider “no gifts list”

  
  Peace Arena — Authority: 112
  John Wood has informed me that this Friday he will be testifying at a hearing of the Ethics Commission regarding an amendment he proposed that would give legislators the ability to get on “no gifts list” (indicating they don’t want to be wined and dined — or otherwise bribed — by lobbyists). The idea has ...
  2 weeks ago

• Increasing Return On Investment

  
  ROI Formula — Authority: 132
  Many new business owners and investors believe that profits depends on the price of the product, and the number that are sold. Whether the product is a house, a course, an investment product, or an ebook, profit and loss is dependent on more than the price of the product and the number that you [...]
  2 weeks ago

• Thales aims at 1.3 bn euros productivity increase

  
  Thaindian News — Authority: 740
  Paris, Dec 11 (IANS) European aerospace and electronics giant Thales has unveiled an action plan to increase productivity by 1.3 billion euros in five years to bring its operational performance closer to that of its continental competitors and strengthen its growth in the medium term.It has also unveiled a new ...
  2 weeks ago

• Sorry

  
  The Bedside Crow — Authority: 119
  We have been far too busy for me to do my homework. Anyway, heres a picture of a shoplifter.  Unless of course, its Trevor from accounts, in which case, HEY TREVOR!. Why dont you sue me?
  2 weeks ago

• Scope of clause (a) of explanation to S. 115JB —the amount of Income-tax paid or payable, and the provision therefore

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 158
  S. 115JB(1) of the Income-tax Act, 1961 (Act in short) provides for payment of a minimum alternate tax in case the Income-tax computed on the total income falls short of 10% of the book profits of the company. For ensuring that companies do not... [[ This is a content summary only. Visit my website www.taxguru.in for ...
  3 weeks ago

• Income Statements, Balance Sheets, And Accounting Systems

  
  Business to Business b2b | Marketing | eCommerce | Telemarketing — Authority: 162
  Accounting Systems – Financial Accounting Standards Income statements, balance sheets, and accounting systems all go hand in hand when handling finances. Many times, these items are handled by accounting software packages, tax software, and ever CRM or ERP systems. There are quite a few differences between ...
  3 weeks ago

• Classy.

  
  The Bedside Crow — Authority: 119
  Amaz*n extend the 12 days of Christmas. I mean, I know were all atheists now, but is this final proof that Jeff Bezos thinks hes God?  
  3 weeks ago

• FDI applicants must furnish three years audited financial statements to FIPB: Revenue Department

  
  LEGAL & FINANCIAL UPDATES FROM TAX GURU — Authority: 158
  The Revenue Department, which scrutinises all foreign investments from the tax angle, has asked the Foreign Investment Promotion Board (FIPB) to ensure that FDI applicants furnish three years audited financial statements of the investor.Such... [[ This is a content summary only. Visit my website www.taxguru.in for ...
  3 weeks ago

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