MEANING OF SPECIAL ECONOMIC ZONE (SEZ): A Special Economic Zone (SEZ) is a zone wherein businesses enjoy simpler tax and easier legal difficulties. It is located in a country’s national borders only, but they are treated as foreign territory for tax purpose. They are treated as foreign territory for tax purpose is the main reason […]
What is Income Tax Audit & what does different section indicates under Income Tax Audit (Section like 44AB OR 44AD OR 44ADA) WHAT IS TAX AUDIT? There are different types of audit under different laws such as company audit, statutory audit, cost audit conducted under Companies Act, 2013, Income Tax Act etc. In Income Tax […]
WHAT IS AUDIT? Audit is the activity of evolution and determine the financial, operational and strategic goals and exercise in an organizations to decide if the organization is in accordance with the rules and regulations. To see if an organization is in accordance with all the rules and regulations, is one of the most important […]
The e-invoicing was introduced on 1st October 2020, for tax payers with an aggregate turnover exceeding Rs. 500 crore. This was also extended on businesses from 1st January 2021 whose aggregate turnover is exceeding Rs. 100 crore. The CBIC also informed that e-invoicing will also applicable for businesses with total turnover ranging between Rs. 50 […]
WHAT IS GST? GST is called as Goods and Service Tax which is an indirect tax and passed in the parliament on 29th March 2017 and came into force on 1st July 2017. This is an indirect tax which has replaced many indirect taxes such as VAT, excise duty etc. As the name suggest the […]
Understand the definition of persons under the Income Tax Act, 1961. Learn about the different types of individuals, partnership firms, companies, and more.
Discover the new income tax portal and its benefits. File your income tax returns seamlessly and explore services like ITR status and refund tracking.
The scheme was initiated under the Employee’s Provident Fund and Miscellaneous Act, 1952, for the benefit of employee after his retirement. The scheme was a collection of fund by the employer and employee. FEATURE OF THE SCHEME: ♦ Under this scheme, the employer and employee both contributes the 12% of the employee’s salary and dearness […]
The tax structure of India is very complex in nature. It depends upon the nature of persons, age, residential status, nature of income etc. The taxability of an assessee in India depends upon his residential status in India for any particular financial year. An individual may be a citizen of India but may end up […]
Our Prime Minister, Narendra Modi launched the scheme named ‘Sukanya Samriddhi Yojana’ as a part of Beti Bachao Beti Padhao campaign. The government of India launched a social campaign on 22nd January, 2015.The Beti Bachao Beti Padhao campaign gives awareness about ‘Save Girls, Educate the Girl Child’. WHAT IS THE SUKANYA SAMRIDDHI YOJANA SCHEME? The […]
