In this article we will discuss about benefits of filing itr and Who is required to do compulsory filing of ITR? In following cases filing of ITR is mandatory.Thus in following case compulsory…
In the union budget 2020 finance minister extended faceless assessment proceedings to the CIT appeals also. Hence this also led to amendments in section 250 of the income tax act…
5 Must know about charitable trust Section 11 and section 12 of Income Tax Act 1961 deal with taxation of charitable and religious trust. Today we have discussed few important…
Today we have explained taxation of gifts under Income Tax Act 1961 from relative. People are usually unaware of the taxation of the gifts which is most popular topic for…
We all know that under Income Tax Act 1961 agriculture income is exempt. Though if below two conditions are cumulatively satisfied then it is required to be included in computation…
Apply online for cancellation or surrender of extra/additional pan In this article we have provided method to apply online for cancellation or surrender of extra/additional pan.Any person may be alloted…
Below we have described requirement of the Internal audit as per Companies Act 2013. Extract of the rule 13 of Companies Act 2013 of section 138 is as follows: Internal…
Today we have discussed details of Trust registration as per Income Tax Act 1961.Section 12A of income tax act 1961 relates to Trust registration as per Income Tax Act 1961…
In this article we have discussed Applicability of CARO 2016. Companies Auditor's Report Order is applicable as per subsection of section 143 of companies act 2013.This statement is required to…
In this article we have discussed Interest and remuneration to partners as per Income Tax Act 1961.People are usually confused regarding income tax provision relating to payment of remuneration and…
Huge amount of payment is made regularly by business to transporters. Due to huge payment there are chances of mistakes. Non deduction of TDS u/s 194C on payment to transporter…
Financial year has ended but yet due to COVID some accounting entries may be pending.Today we are covering important entries covering accounting for income tax provision, TDS and Advance tax.…
Assessee who filed Income Tax Return by mistake can file revise revise ITR filed by mistake under section 139(5) by the end of relevant assessment year or before the assessment…
GST is most trending tax topic.Many business users might have taken voluntary registration though not liable for GST.After taking registration people are worried apply for GST cancellation and to surrender…