Practical Point of View in cases where Income is higher than 8%, but the person is declaring deemed profit as income u/s 44AD
A new Web Form called "SPICe+" (pronounced "SPICe Plus") has been implemented by the Ministry of Corporate Affairs to replace the previous SPICe form as part of the Government of India's Ease of Doing Business (EODB) programmes.
The expression "ratification" was precisely defined by the English Court in one old case, Hartman v. Hornsby as under "Ratification" is the approval by act, word, or conduct, of that which was attempted (of accomplishment), but which was improperly or without proper authority performed in the first instance."
HRA is essentially a part of your salary and is tax exempted under section 10 (13A). In other words, HRA is an allowance given by your employer to pay for your accommodation. You are entitled to claim this allowance even if your employer doesn't pay an HRA or if you're self-employed.
Meet Anil Shah from Mumbai, Maharashtra emerged as the topper of the CA Final May 2022 exams. He has secured the highest 642 marks out of 800.
The Proper Officer shall scrutinize the returns and related particulars furnished by the registered person to verify the correctness of the returns.
Reversal of ITC means reversal of ITC utilized earlier. By doing this, there will be an increase in the output tax liability and interest may also be required to be paid depending on when the ITC is reversed.
FAQs on Annual Information Statement (AIS)
Before introducing the Real Estate (Regulation and Development) Act (RERA), the real estate sector faced several challenges, such as lack of transparency, financial discipline, skewed transactions favouring the developers, and limited grievance redressal forums for consumers.
Home loans can help people purchase an apartment/home of their choice/dreams. Often, people want to buy a new home but don't have ample funds. If they wait to gather the funds, the home rates might go up.
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