Tax Audit Limit For FY 2020-21: Know about Tax Audit u/s 44AB of The Income Tax Act
Section 44AB deals with the tax audit limit and provision of Tax Audit.
A New Route of Tax Knowledge
Section 44AB deals with the tax audit limit and provision of Tax Audit.
The year 2021 will have 13 stock market holidays including 5 extended weekends because of holidays failing either on Monday or Friday.
Section 192 says that every person who is responsible for paying any income chargeable “Under The Head Salary” is required to deduct TDS
For different taxpayers, the due date varies according to their status under the Income Tax Act.
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. …
Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life, where the depreciable amount of an asset is the cost of an asset or other amount substituted for cost, less its residual value.
Technology funds in India have consistently provided an annualized return of 14% to 19% over a 5 year period.
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 …