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Intimation u/s 143(1) of the IT Act

  Mitali    06 April 2024 at 15:44

Intimation under Section 143(1) is a notification which is sent from the IT Department after processing a taxpayer's income tax return. Usually, it informs the taxpayer about any discrepancies between their filed return and the department's computation.



EPFO's Latest: Automatic PF Transfer for Job Switcher

  Mitali    05 April 2024 at 12:25

As new financial year came, starting with the 1st April Employees' Provident Fund Organisation (EPFO) has introduced a system that gives a hassle free PF Transfer for Job Movers.



GST Compliance: Year End Essentials

  Mitali    30 March 2024 at 13:04

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.



Changes Effective From April 2024

  Mitali    29 March 2024 at 12:50

As the start of new financial year approaches, new financial regulations will be implemented, affecting how financial transactions and operations are conducted. 



TDS Rate Chart for FY 2024-25 (AY 2025-26)

  Mitali    28 March 2024 at 12:32

Get the latest TDS rate chart for FY 2024-25 (AY 2025-26)



TCS Rate: Responsibility to collect TCS as per Income Tax Act

  Mitali    27 March 2024 at 12:09

The responsibility to collect Tax Collected at Source lies with certain specified persons or entities as mandated by the Income Tax Act. These entities collect tax from the payee at the time of sale or provision of certain goods or services.



Is Stipend Taxable

  Mitali    22 February 2024 at 16:00

A stipend is a sum of money paid to someone which are typically smaller than salaries and are provided to individuals to support them financially while they gain knowledge and experience through education, training, or specific positions.



Salary Slip with Format and Its Important Parts

  Mitali    16 February 2024 at 16:22

A salary slip or a pay slip is a document provided by an employer to an employee, with a detail list about the salary components such as HRA, LTA, bonuses, and deductions for a specific period, typically a month.



12% GST on Footwear

  Mitali    06 February 2024 at 16:19

GST rate for footwear is 12% (6% CGST + 6% SGST) priced below Rs. 1000.



Rent Receipt with Revenue Stamp

  Mitali    25 January 2024 at 13:45

A rent receipt is an important document provided by a landlord to a tenant as proof of payment for rent