In Section 44AD, the assessee has to declare a minimum of 8% of the Gross Turnover or Gross Receipts as their deemed income. However, Section 44AD(1) gives an option to claim more than 8%.
Option of Filing ITR in response to notice u/s 153A and 153C is removed from ITR as the requirement to file ITR under these sections is omitted. Dividend will now be taxable from Rs.1/‐ as section 115BBDA is omitted.
One Person Company means a company that has only one person as a member. It is a separate entity distinct from its members, limited liability protection to shareholders and has a perpetual succession.
Once the return of September 2021 is filed, no changes or rectifications can be made further. Thus, taxpayers must reconcile their books and returns & make the final adjustments.
Around 25 companies are aiming to raise money through initial share sales in Oct and Nov. It is to be noted that a large portion of the funds would be garnered by technology-driven companies.
It is important to plan your month so that you don't miss any due dates. In this article, we discuss all the due dates under all the acts, that lie in the month of October 2021.
Finance Act, 2020 made the amendment that dividend income shall be taxable in the hands of the shareholders and the burden of tax payment is shifted from the company to the shareholders.
Any stock can be analyzed on many parameters but there are 6 basic checks which can tell you whether to go for further analysis or not.
It should be kept in mind that while transferring a self-occupied property in the common stock of a Joint Family, you should be a coparcener of the Joint family.
The tax authority can send an order under Section 154 either of their own volition or based on an incongruity noticed by the Income Tax Department.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
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