"Hi there!! Myself CA Mohit Loonkar a practising Chartered Accountant from Ahmedabad. I can be reached at camohitjain66@gmail.com LinkedIn: https://www.linkedin.com/in/camohitloonkar/"
ChatGPT, the worlds most advanced AI system, is taking the world by storm. Discover why and how it’s changing the future of finances with its cutting-edge technology
Unravel the confusion between Income Tax and TDS with a comprehensive guide. Understand how TDS (Tax Deducted at Source) functions, its periodic deductions, and its role in the broader spectrum of Income Tax. Explore real-life examples to grasp the nuances and ensure compliance. Gain clarity on Total Tax Liability and how TDS contributes to managing your tax responsibilities.
Learn about Section 80GG and how it allows individuals to claim a deduction for rent paid, even without receiving HRA.
In accordance with the terms of the credit facility sanctioned by your bank to us, we are required to provide you with stock and debtors statements and some other documents by the 15th of the following month.
An Individual who has taken a loan for purchase of E-Vehicle from any Financial Institution and who has never owned an E-vehicle can avail such tax relief. Further, Interest payable on such loan would qualify for deduction under Section 80EEB.
Article explains Steps to be followed for Conversion of Proprietorship concern into Partnership Firm, Steps for transferring unutilised ITC to the partnership firm from proprietorship, Documents required for incorporating a partnership firm and Documents required for Certificate of Registration of Partnership. Steps to be followed for Conversion of Proprietorship concern into Partnership Firm 1. Drafting […]
Relevant Section, Rule and Forms Section 12A – Conditions for applicability of sections 11 and 12. Sec 12AB – Prescribes the procedure framework for registration with the income-tax authorities to avail the exemption u/s 11 and 12.(introduced wef AY 2022-2023) Section 80G – Deduction in respect of donations to certain funds, charitable institutions, etc Section 10(23C) […]
CBDT has issued Notification No. 19/2021 dated 26th March 2021 which makes it mandatory for all the trusts/ societies/institutions registered under section 12A and 80G to obtain fresh registration in prescribed format The applicant shall make an application in Form 10A with the Principal Commissioner or Commissioner authorized by the Board on or before the […]
New Procedure for Registration – Section 12AB with effect from 1st April, 2021 (For this purpose, CBDT has issued Notification No. 19/2021 dated 26th March 2021 which makes it mandatory for all the trusts/ societies/institutions registered under section 12A and 80G to obtain fresh registration) Sec 12A – Prescribes the conditions for availing the benefits […]
Why in News Recently, the Prime Minister Narendra Modi launched the Vehicle Scrappage Policy . It was first announced in the Union Budget for 2021-22. The policy is estimated to cover 51 lakh Light Motor Vehicles (LMVs) that are above 20 years of age and another 34 lakh LMVs above 15 years of age. India […]
