The Finance Act, 2023 inserted a new clause (h) in income tax section 43B that allows deductions made to MSMEs on an actual payment basis rather than the accrual basis if the payment is created within the threshold limit. This clause comes into effect from 1st April, 2023.
Now, I know as CA students and professionals, we value knowledge. Heck, our whole field is built on it! But here's what I missed before: words like "gyan" and "shakti" hold way more meaning than any simple English translation can give them.
The CBDT has issued order that tax demands under Income Tax Act, Wealth Tax, and Gift Tax which are outstanding as on 31st March pertaining to assessment year 2010-11- each demand entry up to Rs. 25000/- and assessment year 2011-12 to 2015-16 - each demand entry up to Rs. 10000/- shall be extinguished but subject to maximum ceiling of Rs. 1 lakh for any specific taxpayer/assessee.
The Reserve Bank of India (RBI) has played a crucial role in regulating the NBFC sector over the years. With the sector's evolution and growth dynamically the regulator amends the regulations from time to time giving the sector the flexibility to operate efficiently.
This article aims to demystify the GST maze for hoteliers, restaurateurs, and caterers, offering a clear and concise guide to ensure smooth compliance and maximize tax benefits.
Navigating the intricacies of modern business landscapes is akin to traversing a labyrinth of regulations, standards, and internal policies. With each evolution in the business realm comes a corresponding evolution in the challenges of maintaining control and compliance.
As the 31st March approaches, businesses must reconcile sales and purchase records, verify input tax credits, adjust for any discrepancies, prepare for audits or assessments, and fulfill any outstanding compliance obligations.
The National Saving Scheme (NSS) in India is a scheme regulated by the Ministry of Finance and operated and managed by the Department of Post, India.
Priority/out of turn disposal of appeals by CIT(A) Assessment Units and Additional Joint CIT(Appeals)
Annual Maintenance Charge (AMC) is an annual fee that is charged by banks on their customers for maintaining and servicing their debit cards. This annual charge is usually payable by the cardholder to the bank on a yearly basis.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
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