"A fresher Chartered Accountant starting a new journey with a goal to create more job opportunities rather than looking for employment."
In order to restrict cash transactions, the government has come out with several provisions and related rules to prohibit various types of cash payments in the Finance Acts. The effects of restrictions under provisions of income tax act are as follows: Restrict cash transactions by disallowances of expenses or deduction under chapter VIA of income […]
What is TDS? As per the Income Tax Act, 1961, any company or person making a payment is required to deduct tax at source if the payment exceeds prescribed threshold limits. TDS has to be deducted at the rates prescribed by the tax department. The company or person that makes the payment after deducting TDS […]
Tax Audit Meaning -A Tax Audit is an audit, made compulsory by the Income Tax Act, if the annual gross turnover/receipts of the assesse exceed the specified limit. Tax audit is conducted in Sec 44AB of the Income Tax Act,1961 by a Chartered Accountant. -Simply Tax Audit means, an audit of matters related to tax. […]
