Explore the intricacies of Presumptive Taxation under the Income Tax Act of 1961, focusing on Sections 44AD, 44ADA, and 44AE. Delve into a critical analysis, understanding the schemes applicable to residents in India. Discover the criteria for eligibility, consequences of opting for presumptive taxation, and the quantification of presumed income. Uncover the nuances of each section and gain insights into the implications for businesses, professionals, and carriage owners.
MCA and SEBI recognize the importance of having women on the Board of directors to promote good corporate governance, accountability, and credibility. To ensure gender equality in top management positions, they have made it mandatory for certain classes of companies to have at least one female director.
NRIs/ OCIs living abroad for business, work or education can open a bank account in India. Banks in India offer numerous ways to apply for NRI accounts from the comfort of their home abroad.
In this article we have highlighted 50+ GST checkpoints that one may consider for the financial year end, i.e. March 2023 as a safeguard.
Explore the concept of Income Tax Protective Assessment and the Supreme Court’s stance in the case of Lalji Haridas vs ITO (1961). The Income Tax Act lacks provision for protective assessment, but in situations where income ownership is unclear due to litigation, the concept arises. The Supreme Court, in the Lalji Haridas case, established that protective assessments are permissible when ownership cannot be immediately determined.
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The Indian government took its stance on crypto taxes a year back. After implementing a 30% tax on crypto assets, the crypto industry in India finally got recognized country-wide.
Learn about the MCA notice for non-compliance with cost records under Section 148 of the Companies Act 2013, and discover solutions for directors, including appointing a Cost Accountant, maintaining accurate records, rectifying non-compliance, seeking professional advice, and timely communication with the MCA to avoid penalties and legal consequences.
Discover the key features of the Government of Tamil Nadu Budget 2023-24, covering grants, infrastructure projects, welfare schemes, and financial allocations for various sectors, contributing to the state’s development and progress.
Explore the significance of Cash Flow Statement in financial reporting, following IAS 7/IND AS 7. Learn about its components, classifications, and definitions, essential for understanding a company’s liquidity and decision-making process.
