Fraud in relation to affairs of a company or any body corporate, includes any act, omission, concealment of any fact or abuse of position committed by any person or any other person with the connivance in any manner
Perquisite value of a residential accommodation provided by the employer to its employee will be calculated on the basis of actual rent paid or payable and no notional interest on Security Deposit deposited by employer
A lot of confusion arises when it comes to the income tax filing of insurance agents. An insurance agent, although having aggregate turnover below the audit limits, cannot file his Income Tax Return u/s 44AD, i.e., ITR-4. How does he file his ITR then!
In the Union Budget 2022-23 through Finance Bill 2022, among other tax measures, the Hon'ble Finance Minister recommended "Insertion of New Section 79A: No set-off of losses consequent to search, requisition and survey".
From April 1, GST e-invoice is mandatory for businesses with Rs. 20 crore turnover.
Many of us expect life to be smooth and without any challenges. But the reality is that life is made of day & night, happiness & sorrow and success & failures. The sooner we accept this duality of life, the better it is for us.
A certificate of insurance (COI) is issued by an insurance company or broker. The COI verifies the existence of an insurance policy and summarises the key aspects and conditions of the policy.
There was a great need and importance for introducing the provisions of section 68 under the income tax act, 1961 to safeguard and protect the interest of revenue, as assessee was engaged in harmful tax practices to evade tax in the form of Black Money, Accommodation Entries, Cash Credit Entries etc.
The Provisions w.r.t GST payable by ECO on Notified services are contained under Section 9(5) of CGST/SGST/UTGST Act. Similar Provisions are also contained under section 5(5) of IGST Act.
As you are aware subject to the provisions of Sections 60 to 63, the income of a religious or charitable trust or institution, to the extent specified in the Act, is exempt from tax when certain prescribed conditions are fulfilled
Live class on PF & ESI Enrollment & Returns Filing(with recording)
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