Articles by CA CS CIMA Prakash Somani
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Appeals In Income Tax India
According to the provisions of Section 246 any assessee who is aggrieved by an order, passed by the Assessing Officer may prefer an appeal to the Commissioner of Income-tax (Appeals).The Commissioner of Income-tax (Appeals) or the Appellate Tribunal
How to Study for Exam- Time-Management
Step 1 Become proficient at time management before your course begins. Be conscious of everything that you do. Create a graph of all your activities at the end of the day. Write down time, then activity. Disregard the relative importance or silliness
Income Tax sections at a glance
Section Head Limit Remarks Salary: 10(10) Gratuity 1. 3,50,000 2. Actual 3. Yr*15/30*Ang salary of 10 Months(Basic+DA+Comm) Basic + DA (forming part
Minimum Alternate Tax ( MAT)
The MAT credit is available in respect of MAT paid under Section 115JB of the Income-tax Act with effect from assessment year 2006-07.The amount of MAT credit would be equal to the excess of MAT over normal income-tax for the assessment year for whic
Long Form Audit Report (LFAR)
Documents required to be kept in Audit file for Peer Review purpose1. Cash Retention Limit duly certified by the Branch Manager;2. A certificate from the Branch Manager stating that the excess cash holding is being reported to the controlling authori
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