Articles by Mitali

Intimation u/s 143(1) of the IT Act

Mitali 06 April 2024 at 15:44

Intimation under Section 143(1) is a notification which is sent from the IT Department after processing a taxpayer's income tax return. Usually, it informs the taxpayer about any discrepancies between their filed return and the department's computation.

EPFO's Latest: Automatic PF Transfer for Job Switcher

Mitali 05 April 2024 at 12:25

As new financial year came, starting with the 1st April Employees' Provident Fund Organisation (EPFO) has introduced a system that gives a hassle free PF Transfer for Job Movers.

GST Compliance: Year End Essentials

Mitali 30 March 2024 at 13:04

As the 31st March approaches, businesses must reconcile sales and purchase records, verify input tax credits, adjust for any discrepancies, prepare for audits or assessments, and fulfill any outstanding compliance obligations.

Changes Effective From April 2024

Mitali 29 March 2024 at 12:50

As the start of new financial year approaches, new financial regulations will be implemented, affecting how financial transactions and operations are conducted.

TDS Rate Chart for FY 2024-25 (AY 2025-26)

Mitali 28 March 2024 at 12:32

Get the latest TDS rate chart for FY 2024-25 (AY 2025-26)

TCS Rate: Responsibility to collect TCS as per Income Tax Act

Mitali 27 March 2024 at 12:09

The responsibility to collect Tax Collected at Source lies with certain specified persons or entities as mandated by the Income Tax Act. These entities collect tax from the payee at the time of sale or provision of certain goods or services.

Is Stipend Taxable

Mitali 22 February 2024 at 16:00

A stipend is a sum of money paid to someone which are typically smaller than salaries and are provided to individuals to support them financially while they gain knowledge and experience through education, training, or specific positions.

Salary Slip with Format and Its Important Parts

Mitali 16 February 2024 at 16:22

A salary slip or a pay slip is a document provided by an employer to an employee, with a detail list about the salary components such as HRA, LTA, bonuses, and deductions for a specific period, typically a month.