It's the time of the year when we are all busy making resolutions for the new year. We have many resolutions but we miss out on our financial resolutions. Achieving them does not happen overnight and it is easy to lose track of them as the year goes by.
DUE DATE CALENDAR FOR THE MONTH OF DECEMBER 2022
Here are a few tips from the All India Rank Holders who have practiced this diligently and gained success.
The processing of the return takes place only after e-verifying the Income Tax Return.
Financial Statements provide the information about financial position, performance, and cash flows of an enterprise this helps in various decisions for the users. The Financial Statements are like the Performance Card of the entities.
Ministry of Corporate Affairs vide its notification dated 5th August 2022 has amended the Companies (Accounts) Rules, 2014 regarding availability of books of account and other relevant books and papers maintained in electronic mode at all times and also details of person in control, if service provider is located outside India.
Show Cause Notice (SCN) is a warning or notification issued by a Courts, Competent Authorities or an Organization for an identified default demanding a tax payer to explain or to "show cause" in writing as to why the disciplinary/penal action should not be taken against the taxpayer for the identified defaults.
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.
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.
Taking pride in being a part of the Institute, Wishing all the Chartered Accountants and Budding Chartered Accountants, "A Very Happy CA Day."
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