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A way forward to GST in India
As, all we know that Taxes in India are levied by the Central Government and the State Governments. The authority to levy a tax is derived from the Constitution of India which allocates the power to levy various taxes bet
Reason for introduction of TDS
There is always a time gap between deriving of income and payment of tax there upon .The objective of introduction of the provision tax deduction at source is to reduce that time gap and also ensure the regular flow of funds to governmentDemerit by T
Key Changes in New ITRs and Eligibility - AY 2015-16 (FY 2014-15)
The Rule 12 of the Income-tax Rules was amended vide Notification No. 41/2015, Dated 15-04-2015. The new ITR Forms 1, 2 and 4S were notified for the assessment year 2015-16 vide said notification.In view of various representations received it was ann
Nidhi Company - Companies act, 2013
Section � 406 read with rules of Companies (Nidhi Companies) Rules, 2014 SECTION 406 OF COMPANIES ACT 2013 AND NIDHI RULE 2014 GOVERNED THE LAW AND PROCEDURE FOR NIDHI COMPANY. Nidhi� means a company which has been incorporated as a Nidhi
Three different mechanisms for an IPO
The decision to list a company is often taken considering the market trends. When the primary markets are strong, there is a natural temptation to take a company public. This is because, in a strong market, the company gets much more than its fair va
Procedure of re-assessment u/s 147
Assessment is a procedure adopted to determine the correctness of the income disclosed by the assessee and tax payable thereon. Than what is reassessment and why there is need of reassessment? Section 147 and 148 of
Types of directors
1. Definition:- As per Section 2(34) of Companies Act 2013 Director means a director appointed to the Board of a Company.2. Responsibility:- The board of directors of a company is primarily responsible for: determining the compan
All about ITR - 2A Form
1. Who can use this Return Form? This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the a
Clause wise dicussion of form 3cd- Part 2
Clause - 16 Amounts not credited to the profit and loss account, being,- the items falling within the scope of section 28; the proforma credits, drawbacks, refund of duty of customs or excise or service tax, or refund of sales tax or value added
Verification of ITR with Aadhar card introduced
Till now upon E - filing of Income Tax return, we use to send the acknowledgement copy to CPC Bangalore within 120 days by speed or registered post, many a times the acknowledgement copy of ITR does not reach the CPC Bangalore & people used to ge
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