1. Firm to be Assessed as Firm Essential conditions prescribed under section 184 of the Income-tax Act, 1961: (i)         Partnership should be evidenced by an instrument i.e. there should be a written document giving the terms of partnership. (ii)        The individual share of the partners should be specified in that instrument. (iii)      

When it comes to dealing with various processes and procedures, understanding the time limits, forms, and fees involved is crucial. Whether you’re applying for a visa, filing a legal case, or submitting an application, having a clear understanding of these factors can save you time, money, and unnecessary stress. 1. Appeal to Commissioner (Appeals) Time

Under the Income Tax Rules/ Act, certain taxpayers are required to get their accounts audited and submit audit reports to the tax authorities. These prescribed audit reports play a crucial role in ensuring transparency and accuracy in the tax assessment process. Relevant Rule of IT Rules Relevant Section of IT Act Prescribed Audit Report Relevant

As per Part “C” of Schedule II of the Companies Act, 2013 after making following assumptions: The useful life to compute depreciation of the asset has been taken as per Part C of Schedule II The residual value of an asset has been taken as 5% of the original cost of the asset   Nature

Under the Explanation to section 288(2), an “accountant” means a chartered accountant within the meaning of the Chartered Accountants Act, 1949, and includes in relation to any State, any person who by virtue of the provisions of section 226(2) of the Companies Act is entitled to be appointed to act as an auditor of companies