Books of accounts including bills and receipts and that is required to be maintained under different statutory laws – Income Tax Act, Companies Act 2013 and GST Act.

Sec 194I of the Income Tax Act 1961 is related to the TDS deduction on payment of rent. The provisions explain the applicability, rate, time of deduction, and payment of TDS on rent

For example Patent, Trade Mark, Goodwill, copyright, Customer details etc

Equalisation Levy” of 6% on consideration received against services provided to Indian Resident or a Non-resident person who has permanent establishment in India by a Non-resident person without any permanent establishment in India.

For this purpose all these entities have to satisfy certain conditions so that they can avail ‘Benefits of Registration u/s 12A of the Income Tax Act’1961’

Learn the Consequence of non-compliance with TDS laws. TDS Penalty, Know the interest on late payment of TDS, TDS deduction, TDS Late Fee penalty, etc.

A new section 115BAB has been inserted, with an opportunity of a reduced Income tax rate of 15% to new domestic companies setup and registered on or after October 1, 2019 and engaged totally in the business of production or manufacturing

What makes this profession different- Every chartered Accountant go through from extensive examination to receive this title I.e. prefix before their name as CA and they have various obligations when they receive it.

Loans are very suitable option to arrange for funds in times of financial requirement as well as there may also have some benefits of tax associated with them

Tax Audit Under Section 44AB of Income Tax Act, 1961 - Audit is an official Inspection of the business accounts by an independent body (Tax Auditor) to give assurance of transparency of organization to their users.

Form 26AS is an anuual statement which is maintained by the Department of Income Tax. Form 26AS contains the details of the tax credit in an account or appearing in the Permanent Account Number (PAN)

Managing of legal compliances has developed gradually through the current years with the gradually increase in the complexity of legal compliances

The income tax department has said that PAN card holders may bear penalty amount under the Income Tax Act if they are not able to link there PAN with Aadhaar before the due date.

The taxpayer, who is making the payment, has to deduct the TDS and deposit it to the Income Tax Department before the due date of depositing TDS.

The time limit for downloading Form 16B is within 5 days from filing Form 26QB on the TRACES portal. Form 16B is very important for the seller because if in case the actual amount of TDS deducted and as reflected in Form 16B

Under LRS, RBI permits individual to remit a selected amount during a financial year to outside India under automatic route that no authorization is require up to define limits. The present prescribe limit is USD 2,50,000 per financial year.