19 July 2022
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A new section 80EEB was inserted from AY 2020-21 to claim an exemption on the interest portion of the loan taken to purchase an electric vehicle.
Income is the money an individual receives in compensation for their work, services, or investments. For businesses, Income means revenue that a business generates by selling its goods and services. Revenue is the money earned by a company from selling goods or services throughout its operations.
To import masters into XYZ Company, you need to ensure that both the options Maintain stock categories and Maintain batch-wise details are enabled in XYZ Company before importing.
12 July 2022
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One of the important documents for verification while Tax filing is the Summary statement of AIS. The Annual Information Statement (AIS), launched last year, is a comprehensive statement containing details of 46 of the financial transactions like Income, Investment, Expenditure happened in a particular Financial Year.
You can export masters created in a company, in different formats. You can also choose the type of masters to export.
The Clause 44 of the Form 3CD is effective for Assessment Year 2022-23 i.e. for the Financial Year 2021-22 because the compliance of this clause was kept in abeyance till 31/03/2022 but for all the reports submitted after that date the clause is mandatory.
TDS and TCS are the government's most important sources of revenue. It's also critical for businesses to pay their taxes on time to avoid penalties and remain compliant.
Responsibility to deduct TDS under this section is not casted on the Individual/HUF in case the total sales during the immediate preceding financial year do not exceed 1 Crore rupees in case of business and 50 Lakh rupees in case of the profession.
Financial Planning and Tax planning are considered to be the same tax, but these concepts are not similar. Both financial planning and tax planning are interconnected.
Tax Compliance Tracker - July, 2022
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
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