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Introduction of Section 68 Under Income Tax Why Section 68 was introduced under Income Tax Act, 1961? There was a need and importance to start the provision of section 68 beneath the income tax act, of 1961 to protect the interest of the revenue as the taxpayer was involved in the harmful tax practices to […]
The Central Board of Direct Taxes (CBDT) publishes “Rules prescribing ‘any other person’ to verify ITR & appear before authorities for Co./LLP.” The board authorized under clause (c) and clause (cd) of section 140 and clause (viii) of sub-section (2) of section 288 read with section 295 of the Income Tax Act, 1961 has inserted […]
The Central Board of Direct Taxes (CBDT) has directed that the latest laws where the taxpayers will intend to file the electronic form for finding the taxable section of the amount other than salary filed to the non-resident Indian or a foreign firm for the case in which the taxpayers believes that the whole amount […]
After the implementation of complex Goods and Services Tax (GST) Regime in India, now the Narendra Modi Government is working on bringing changes in respect of the direct tax.
Finally, Lok Sabha which passed the Finance bill completed the budget session which is an important exercise for this year 2017-18 in order to get the best out of economic agenda. As the finance bill is a depiction of the Money bill, it must pass through the Lok Sabha and after all, these, starting from April 1, 2017
In this post, we aim to clear up any confusion or doubts surrounding income tax return filing and other tax-related queries. We have provided answers to some commonly asked questions to give taxpayers a better understanding of the process and potential tax benefits. Query: I am a 55-year-old individual covered by my employer’s group health […]
All employees are qualified to claim a specific number of paid leave every year. The paid leaves come under the incentives offered by the employers to join that company. The income tax laws permit the exemption for encashment of these paid leaves partly as well as fully. Leave and Encashment Sorts The leaves on which […]
In the current era, people need ready data to execute their chores easier and in less time. CA or tax practitioner companies need effective best income tax return software. Also, they seek effective practice management software for ease of filing compliance and laws. Work in distinct companies is executed through distinct capable software. On the […]
In this article, we have explained an overview of accounting systems with their different scopes for individuals and companies. Industries, including trade, business, government, financial institutions, private citizens, and all other sectors are been counted under the accounting. All the activities are been regulated under the concepts of accounting. On the opposite side of the […]
