The salary received by an employee from his/her employer is categorized under the head “Income From Salary”. Here the employer is responsible for deducting TDS on an average rate of Income Tax based on the current slab rate during the relevant
Last year from 1st July 2020, the government had introduced a new TCS provision u/s 206C(1H). This section was for “seller of goods” on receipts/advance from/for sale of goods, exceeding Rs. 50 Lakhs as a consideration during the financial year. Now
Meaning of Depreciation- Before knowing the Depreciation Rate as per Companies Act for FY 2020-21, we must know the meaning of depreciation. In simple words, depreciation is a reduction in the value of assets over time, due in particulars to wear
Registration u/s 12A- Trust, society, and section 8 companies can seek registration u/s 12A to claim an exemption under the Income Tax Act. Registration u/s 80G- Under section 80G trust or institution can seek registration and it does not apply to
The presumptive taxation scheme of section 44AD is designed to give relief to small taxpayers engaged in any business (except the business of plying, hiring or leasing of goods carriages referred to in section 44AE).
Before knowing the Depreciation Rate as per Income Tax Act For AY 2022-23, we must know the meaning of depreciation. Meaning of Depreciation– In simple words, depreciation is a reduction in the value of assets over time, due in particulars to