Articles by Mitali

Section 44AB: Applicability of Tax Audit & Penalty

Mitali 03 March 2023 at 12:58

What is tax audit?The dictionary meaning of the term "audit" is check, review, inspection, etc. There are various types of audits prescribed unde

Suo Moto Cancellation Of GST Registration

Mitali 24 February 2023 at 12:58

Suo moto cancellation of GST registration refers to the cancellation of a registered person's GST registration by the GST officer on their own initiative, w

Bank Reconciliation Statement With An Example

Mitali 14 February 2023 at 16:01

Bank Reconciliation Statement is a statement prepared mainly to reconcile the difference between the 'Bank Balance' as shown by the Cash Book and the 'Bank Balance' shown by the Bank Pass Book.

Section 194H: TDS on Commission and brokerage

Mitali 31 January 2023 at 11:52

Section 194H of the Income Tax Act governs the taxation of commission or brokerage. According to this section, any person responsible for paying to any income by way of commission or brokerage shall deduct tax at source of such income.

Project Report For Bank Loan

Mitali 17 January 2023 at 15:16

Project report for a bank loan is simply a document that outlines the details of a proposed project, including the project's goals, financial projections, and the collateral being offered to secure the loan.

Missed filing ITR? File belated ITR for FY 2021-22 by 31st Dec

Mitali 28 December 2022 at 16:00

Income Tax Return is a form that individuals and businesses are required to file with the Income Tax Department. The purpose of ITR is to report the income earned during a financial year and pay taxes on it.

All about Partnership Deed

Mitali 26 December 2022 at 12:38

A partnership deed is a legal document that outlines the terms and conditions of a partnership between two or more individuals or organizations.

Income tax calculator & its uses

Mitali 20 December 2022 at 13:14

An income tax calculator is an online tool that is designed to estimate tax liability for a given tax year. It takes into account factors such as income, deductions, credits, and exemptions to determine how much tax an individual or business owes.