Income Tax
Budget 2022: Taxation of Virtual Digital Assets
In line with the pre-budget expectation, Finance Minister Nirmala Sitharaman has proposed a taxation scheme for virtual digital assets. The Budget 2022 has proposed sweeping changes regarding the taxation of crypto-currency, non-fungible tokens ...
Budget 2022 bars set off of losses against Undisclosed Income
Set off of a loss in search cases – Amendment in the provisions of section 79A of the Income Tax Act, 1961 Chapter VI of the Act deals with aggregation of income and set off or carry forward of loss. In Sections 70-80 of the Act, there are specific ...
Budget 2022: Litigation management Policy
A new litigation management system will be introduced on the tax front to reduce repetitive appeals in tax cases. Finance minister Nirmala Sitharaman in her budget announcement, has said that the government will create a litigation management system ...
Can I File my ITR after Due Date
Penalty for Late Filing of Income Tax Return The taxpayers have to file the return of their income earned in a financial year upto 31st July of the assessment year unless extended. The government gives its taxpaying citizens a 4 month window to ...
How to File ITR 5 for Partnership Firm
ITR5 Form A comprehensive guide to understanding the ITR-5 Form What is the ITR-5 Form This income tax return is meant for firms, LLPs, AOPs (Association of persons) and BOIs (Body of Individuals), Artificial Juridical Person (AJP), Estate of ...
Income Tax Filing Return Filing for Proprietorship Firm
Proprietorship Tax Return Filing – eFile Procedure Like any other incorporated entities such as partnerships and companies, a proprietorship also must pay tax on its revenue. In the legal sense, a proprietorship is treated like the proprietor ...
How to File Tax Return For Company
What is a business tax return? A business tax return is basically an income tax return. The return is a statement of income and expenditure of the business. Also, any tax to be paid on the profits made by you is declared in this return. The return ...
How to File Income Tax Return of Partnership Firm
A partnership firm is a body of more than one person conducting business under one entity. There are two types of partnership firms – Registered partnership firm Unregistered partnership firm A registered partnership firm is a partnership firm that ...
Income Tax Filing for Partnership Firm
What is a Partnership firm? A partnership firm is a type of entity where more than one person is carrying out business under one entity. Partnerships firms in India are of two types - Registered partnership firms and unregistered partnership ...
How to Fill in Partnership Tax Return
Partnership Firm Tax Return Filing – eFile Procedure A partnership firm is a body of more than one person conducting business under one entity. There are two types of partnership firms – Registered partnership firm Unregistered partnership firm A ...
What is transfer pricing audit in india
Transfer pricing law in India applies to both domestic and international transactions which fall above a threshold in terms of deal value. Transfer Pricing was introduced through inserting Section(s) 92A-F and relevant Rule(s) 10A-E of the Income Tax ...
What is Performance Audit in India
Performance audit is an independent, objective and reliable examination of whether public sector undertakings, systems, operations, programmes, activities or organizations are operating in accordance with the principles of economy, efficiency and ...
How to do Concurrent Audit or Bank Audit in India
Statutory Audit of Banks Statutory audit of banks can be defined as an audit to ensure that the financial statements and books of account presented to the regulators and the public are fair and accurate. It is an audit that is prescribed by a ...
Tax Benefits of Limited Liability Partnership
Limited Liability Partnership (LLP) income tax saving is legal exercise carried out by LLP to meet Income Tax saving object in correct systematic and orderly manner. As LLP Partner you may be having question on How to Save Tax in LLP ? What is tax ...
How to Manage Payroll for a Company?
A payroll service is an outside company that specializes in every aspect of the payroll process. The first such service in the United States, Automated Payrolls, was founded in 1949 and relied on primitive technology like electro-mechanical ...
Importance of social audit in india
Improve governance: Social auditing impact governance leading to good governance. It make government responsible to its citizen allowing better governance through citizen’s participation. Accountability and transparency: It allows the voice of ...
How to Do Transfer Pricing in India
Transfer pricing law in India applies to both domestic and international transactions which fall above a threshold in terms of deal value. Transfer Pricing was introduced through inserting Section(s) 92A-F and relevant Rule(s) 10A-E of the Income Tax ...
How to do Income Tax Audit in India
Section 44AB specifies that certain categories of individuals or businesses require tax audits by a chartered accountant in order to ensure compliance with the laws and to keep fraudulent tax practices in check. Under Section 44AB of the Income Tax ...
Government Audit in India : Applicability & Process
The Comptroller and Auditor General of India is the Constitutional Authority in India, established under Article 148 of the Constitution of India. He is empowered to Audit all receipts and expenditure of the Government of India and the State ...
What is forensic audit in india
A forensic audit is an analysis and review of the financial records of a company or person to extract facts, which can be used in a court of law. Forensic auditing is a speciality in the accounting industry, and most major accounting firms have a ...
Who is liable for Income Tax Audit in India?
What is a Tax Audit? Under Section 44 AB of the Income Tax Act, 1961, the provision of Income Tax Audit is covered. Income Tax Audit is a way to examine an individual’s organization tax returns by any outside agency. Income Tax Audit is done to ...
What is SOX Audit & On Whom is it Applicable in India
A SOX compliance audit is intended to verify the financial statements of the company, and the processes involved in creating them. During the audit, the financial statements and management of internal controls are analyzed and assessed by an external ...
What is Social Audit & its Process in India?
Social Audit is the critical stock taking of any programme or scheme by the community with active involvement of the primary stakeholders. It includes audit of the quality of works being executed at different levels along with the details of ...
How to do Cost Audit in India?
Cost Audit is the process for verifying the cost allocation of each product or Services comprising of labor cost, manufacturing cost or any other item of cost as applicable. Cost Audit is a methodical and reliable verification of the accounts and ...
What is Environment Audit in India
Environmental audits are systematic and objective assessments of the environmental status and performance of properties, facilities, processes, and/or operations. They are a valuable management tool which can be used to identify and assess ...
What are the Tax Compliances Applicable in India?
Any person or business that’s run into trouble with the IRS or had their tax return denied or audited can confirm the critical importance of tax compliance. Overall, tax compliance involves being aware of and observing the state, federal, and ...
Income Tax Compliances for Businesses in India
The deadline to file income tax returns (ITR) for the assessment year 2021-22 is 31 December. Though the income tax (I-T) department has introduced an automated filing system, annual information statement (AIS), and other initiatives to ease the ...
How to Create Website Designing Banner?
Website banners: we see them every day, and they are a great addition to your marketing campaign. In this tutorial, I'll show you how to make a banner. Banner designs and banner templates are composed of a couple of key elements: an offer and a call ...
Some of the Website Designing Ideas & Theme
18 website design ideas with real examples 1. Use a one-page website A one-page website keeps all of the important information about your company on one page so users can learn everything they need to without being forced to navigate to different ...
What is Search Engine Optimisation
What Is SEO? SEO stands for search engine optimization, which is a set of practices designed to improve the appearance and positioning of web pages in organic search results. Because organic search is the most prominent way for people to discover and ...
Tax on Foreign Subsidiary of Indian Company
Foreign Companies and Income Tax Filing in India As per Section 139 of the Income Tax Act (IT Act) every company, both domestic and foreign, are mandatorily required to furnish their tax returns for an assessment year. Every company should file ...
Search Engine Optimisation in Hindi
SEO का पूरा नाम Search Engine Optimization होता है और यह एक ऐसी तकनीक है जिसकी मदद से हम अपने पोस्ट को किसी भी सर्च इंजन के पहले पेज पर टॉप पोजीशन में रैंक कराते हैं. सभी ब्लॉगर का यह लक्ष्य होता है कि वह गूगल जैसे सर्च इंजन में पहला पोजीशन हासिल ...
Easy Ways for Search Engine Optimisation
SEO stands for “search engine optimization.” In simple terms, it means the process of improving your site to increase its visibility when people search for products or services related to your business in Google, Bing, and other search engines. The ...
Website Designing Company in Delhi
What is Web Design? Web design refers to the design of websites that are displayed on the internet. It usually refers to the user experience aspects of website development rather than software development. Web design used to be focused on designing ...
On Page Search Engine Optimisation refers to
Onpage Optimization Onpage optimization (AKA on-page SEO) refers to all measures that can be taken directly within the website in order to improve its position in the search rankings. Examples of this include measures to optimize the content or ...
What is Tax Residency Certificate & How to Apply?
What is a Tax Residency Certificate (TRC)? A tax residency certificate is a document that enables Indian residents to enjoy tax relief under the Double Taxable Avoidance Agreement (also known as DTAA). DTAA is an agreement between two or more nations ...
How To Grow Your Business Online
7 Strategies To Grow Your Online Business In today’s day and age, where the entire world has turned into one big global village, people have found new and innovative ways to generate stable incomes through Digital Marketing. Previously, many people ...
Investment Options To Save Tax In India
Best Investment Options To Save Tax In India Savings are our financial cushion for tomorrow and it is a practice almost everyone follows. Sure, it is harder for some people to manage savings than others. You could want to use your savings to pay for ...
How Can I Save Income Tax under Section 80C
Most of us are already well aware of the deduction available under section 80C of the Income-tax Act, 1961. The maximum amount of deduction that can be claimed under section 80C is Rs 1.5 lakh for the current financial year. The section offers ...
What investment comes under 80C?
Every Indian is legally obliged to pay their fair share of taxes as per the law. But that doesn’t mean you have to pay the entire amount. Under Section 80C of the Income Tax Act, you can reduce your tax liability every year, as provided by the ...
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