Section 2(11) of the CGST Act defines "assessment" as the determination of tax liability under the Act, and it includes self-assessment, re-assessment, provisional assessment, summary assessment, and best judgment assessment.
This article breaks down the FLA reporting process, explaining the legal framework, required disclosures, practical compliance issues, and potential consequences of non-compliance.
Discover the key features of the Faceless Assessment Scheme introduced by the Income Tax Department, aimed at enhancing transparency, reducing human interface, and ensuring uniformity in tax assessments across India.
Intraday describes trading actions or market movements that happen within one trading session, from market open to close. It applies to stocks, forex, commodities, and cryptocurrencies, where traders buy and sell assets within the same day.
If you're a small business owner and trying to do it all, this article is for you. AI can make your life easier by helping your business grow faster and smarter.
Faceless assessment is managed entirely through the National Faceless Assessment Centre (NFAC) and 4 types of functionally specialized units
IntroductionThe Income Tax Act, 1961, lays down a comprehensive mechanism for assessing an individual’s or entities taxable income and determining their c
Supply of service or goods provide to the members by a co-operative society registered under any co-operative law will not come under the provisions of the GST Act. Why? We shall look into the statutory provisions of the law and the Constitution of India.
In this article, we will understand the reason behind the risk of job loss in the Lower Level of Management of the Accounting division of any organization.
This comprehensive guide provides a detailed understanding of DVR shares, their legal framework, benefits, conditions and the procedure for their issuance in India.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
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