Taxation of transfer of capital asset/money/stock in trade at the time of dissolution or reconstitution of partnership firm 1. INTRODUCTION 1.1. The income tax implications of transfer of capital asset or the money or stock in trade to the partners of the partnership firm at the time of dissolution or reconstitution of the partnership firm […]
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 […]
Reverse charge mechanism (RCM) is the mechanism where GST is collected by the buyer instead of seller. There are two types of reverse charge that is ♣ On the basis of nature of supply or on supplier covered under section 9(3) of CGST/ SGST (UTGST) act and 5(3) of IGST Act ♣ On the basis […]
Firstly if we talk about banks, we all are about the banks and the scheme they provide if you have visited or opened an account in bank. Bank and money are the words we use normally for our day to day life, if we put our money in the bank we considers it to be […]
Discover the different types of loans for individuals and businesses, and explore the tax benefits associated with them.
Finally, after facing every step of hurdle during past financial year, the final goal of every taxpayer is to assess their business records and analyse and correct the mistakes made during the past financial year either through GSTR-1 and GSTR-3B of September, 2021, following the end of financial year, being 2020- 21 Section 110 and […]
September is very crucial month from Annual GST compliance Perspective, as September’s 3B filing date is the last chance to rectify the Input Tax Credit & Output GST Liability pertaining to financial year 2020-21. In this article an attempt has been made to elaborate “Must do Things” before filing 3B of September 2021 to be […]
