It provides a solid foundation for a knowledge base on taxation, covering both theoretical and practical elements.
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 […]
Prescribed Audit Reports under the Income Tax Rules/ Act. Read More »
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
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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
Investment planning is an essential aspect of financial management, especially for middle-class families. With the new financial year, A.Y. 2022-23, just around the corner, it’s important to start thinking about how to make the most of your hard-earned money. In this blog post, we will discuss some effective investment strategies and options that are suitable
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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 as per
Rates of Depreciation under Companies Act, 2013 [ Depreciation Rate Chart] Read More »
1. Investment in Sukanya Samriddhi Yojana for Tax Saving for AY 2022-23 & 2023-24 Sukanya Samriddhi Account is a Government of India backed saving scheme targeted at the parents of girl children. The scheme encourages parents to build a fund for the future education and marriage expenses for their female child. The Sukanya Samriddhi Yojana
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Sukanya Samriddhi Account is a Government of India backed saving scheme targeted at the parents of girl children. The scheme encourages parents to build a fund for the future education and marriage expenses for their female child. The Sukanya Samriddhi Yojana (SSY) was launched by PM Narendra Modi in 2015, as part of his Beti
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A Post Office Savings Account is one of the most popular and accessible savings accounts in India. The minimum opening amount as well as maximum balance that can be retained is Rs. 500. The interest rate being offered for this account is 4.00% p.a. It can also be opened by a minor above the age
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The Government of India’s Department of Posts, Ministry of Communications, offers fixed deposit accounts that oiler attractive interest rates with tenures that range from 1 year up to 5 years. The interest is payable annually with the minimum deposit being Rs.1,000 and no maximum limit. Post Office Fixed Deposit Rates Deposit Tenure Post Office FD
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Is one of the most well-known investment schemes offered by the India Post. While the scheme is open to all individuals, it is particularly popular in rural and remote areas of the country that are relatively under-banked and have limited access to investment products. Post Office Time Deposit Scheme Interest Rates The Indian Finance Ministry
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