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Income Tax Department Tightens Scrutiny Against False Deductions and Exemptions for Salaried Individuals
Salaried individuals are being warned to be cautious while filing their Income Tax Returns (ITRs) this year. The Income Tax Department has increased its scrutiny and is seeking documentary evidence against bogus deductions and exemptions claimed by some taxpayers.
Applicability of Audit
I have tried to summarized the types of audit which are mandatory by law in this article. Hope you will be benefited from this article.
The Companies Act, 2013- Provisions relating to Minutes of Meetings: Part-I
Introduction: The Companies Act, 2013 will now replace the old Companies Act, 1956 in a phased manner and will come into full force when the Central Government notifies the operation of all sections and finalizes the Rules which are now on displ
How to claim deduction of interest on home loans in ITRs?
When three individuals take a joint home loan and want to claim the tax benefits for the interest paid on the loan, they can do so by following these steps
Formation of Gratuity Trust
Gratuity fund which has been and continues to be approved by the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner in accordance with the rules contained in Part C of the Fourth Schedule.
Financial Statements of Banks
Bankers are familiar with Profit & Loss Account and Balance Sheet of Corporates as they day in and day out read, analyze, disseminate information for processing the credit requirements of the borrowers. They calculate
Delicious Chocolate Peanut Bar: Attracting 18% GST for Indulgence
When it comes to the Delicious Chocolate Peanut Bar with the addition of cocoa powder, the Karnataka bench of the GSTAAR has clarified that the product falls under Chapter 18 of the GST classification.
Fast Track Merger under Companies Act 2013 - Procedures & Compliances
The term merger has not been defined under the Companies Act, 2013 ("CA, 2013") but in commercial terms, a merger is a combination of two or more existing companies which merge their identities to form a different entity
Towards a Stronger Future: Corporate Restructuring Initiatives
Corporate Restructuring is a comprehensive process wherein a business enterprise undertakes the redesigning of one or more aspects of the company, with the aim of consolidating its operations and bolstering its position to achieve both short-term and long-term corporate objectives.
How to Ensure Correct Information for Filing ITR
Filing your Income Tax Return (ITR) accurately is crucial, and it involves incorporating vital information from your Annual Information Statement (AIS). However, discrepancies or missing data in the AIS can occur, leading to confusion during the filing process.
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