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When it comes to tax deductions for individuals living in rented accommodation, there is good news for both salaried and non-salaried individuals. While salaried taxpayers can claim House Rent Allowance (HRA) exemption, non-salaried individuals also have a provision that provides tax relief. Let's explore the details of this provision and the conditions to be fulfilled.
Form 16 is a crucial document for salaried individuals filing their Income Tax Returns. It provides information about tax deducted at source (TDS) by the employer and a summary of the salary paid.
The audit landscape in India is dominated by the top five professional services firms: EY, Deloitte, KPMG, PwC, and Walker Chandiok & Co. These firms oversee a significant number of audit assignments for Nifty-500 companies, accounting for 310 out of 498 assignments as of March 31, 2023.
This article aims to provide a comprehensive guide on how to potentially avoid the TCS and save on travel expenses when booking foreign tours.
In a significant development for the auditing industry, a revolutionary mechanism is set to transform the process of obtaining balance confirmations. A common balance confirmation portal is being introduced to provide statutory auditors with reliable "external confirmation of balances" for effectively auditing financial statements.
In this article, we will delve into the details of how the new TCS rule will impact students who are currently studying in foreign universities or schools, as well as those who are planning to study abroad soon.
Salaried individuals can avail tax exemption on house rent allowance (HRA) if they live in a rented house, pay rent, and possess the necessary valid documents. However, many people are unaware that their rent agreements should include specific clauses to ensure that their HRA tax exemption, claimed during income tax return (ITR) filing, is not rejected by the income tax department.
This article aims to emphasize the critical role of SAs in the audit process, highlighting Practical approach with example as a shield against potential storms of investigation and scrutiny.
The National Financial Reporting Authority (NFRA) recently issued an order highlighting significant deficiencies in the audit conducted by CA Rakesh Puri, who served as the Engagement Partner (EP) for the statutory audit of Sun and Shine Worldwide Limited (SSWL).
The Central Board of Indirect Taxes and Customs (CBIC) has launched a special all-India drive to combat cases of fake Goods and Services Tax (GST) registration...
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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