Deduction under section 80DDB of the Income Tax Act is available towards the amount actually paid for the medical treatment of the specified disease. The current article explains all the provisions attached with the said deduction along with the frequently asked questions. Eligibility of deduction under section 80DDB – For better understanding, the eligibility of deduction under […]
Many of us are forced into buying insurance products which we do not really need. We get to hear number of horror stories of misselling by insurance advisors. In order to help readers understand basics of life insurance I have decided to discuss various aspect and variations of life insurance products so that they do […]
Verification: New GST Registration after Cancellation of earlier(old) Registration – By CA Nitin Jain a very important clarification is came vide Circular no. 95/14/2019-GST dated 28th March, 2019 from Central Board of Indirect Taxes and Customs is being summarized in the present article. Many cases are came to knowledge of department wherein, new GST registration have […]
Discover the benefits and consequences of filing your income tax return. Understand the importance of filing your ITR and how it impacts your financial obligations.
Section 46 of Companies Act, 2013– Share Certificate? (1) A certificate, issued under the common seal, if any, of the company or signed by two directors or by a director and the Company Secretary, wherever the company has appointed a Company Secretary], specifying the shares held by any person, shall be prima facie evidence of […]
The Minimum Alternative Tax (MAT) is a provision introduced in direct tax laws to limit the tax deductions/exemptions otherwise available to taxpayers so that they pay a ‘minimum’ amount of tax to the government.
1. What are the legal structures that one can use to run a small business in India? Ans: Small businesses in India are usually run as either proprietorship concerns, partnership firms, or small companies. Proprietorship concerns are business run by individuals. Partnership firms are established under the Indian Partnership Act, 1932. Companies are incorporated under […]
1. Salary means all remuneration paid or due under an express or implied contract of employment except that received by a partner of a firm from the firm. It includes wages, annuity or pension, gratuity, fess, commission, perquisites or profits in lieu of or in addition to any salary or wages or any advance of […]
Understanding the different types of income tax return forms in India. Find out if ITR-1 (Sahaj) is applicable to you and what income it covers.
Since, every company is required as per section 96 to hold its Annual General Meeting within 6 months of closure of its accounts except in case of newly formed companies. For conducting the Annual General Meeting, a notice under Section 101 of Companies is required to be sent to all the members of the company […]
