Introduction – Taxes are a primary source of funds for the Government. Besides the basic exemption limit, one can avail additional deductions. You need to invest in specified securities in order to take advantage of these additional deductions. In this … Continued
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Advance Tax What is advance tax? Simply put, it is an advance payment of tax. Instead of paying your taxes in one go at the year end, it has to be paid in installments. This scheme is also known as … Continued
Schedule III (See section 129) GENERAL INSTRUCTIONS FOR PREPARATION OF BALANCE SHEET AND STATEMENT OF PROFIT AND LOSS OF A COMPANY Where compliance with the requirements of the Act including Accounting Standards as applicable to the companies require any change … Continued
Purse/Wallet Stolen? Here is what you should do Purse/Wallet stolen – First make sure to check whether you’ve just misplaced your wallet or it has in fact been stolen. We do recommend trying to find it in places you’ve recently … Continued
Section 44ADA – Special provision for computing profits and gains of profession on presumptive basis. There are good number of compliances under the Income Tax Act. These include maintaining a proper set of books of accounts, getting these books of … Continued
Section 44AE