Articles by Mitali

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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.

Posted in Income Tax |   2795 Views


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.

Posted in Income Tax |   5738 Views


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.

Posted in GST  2 comments |   4850 Views


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

Posted in Income Tax  2 comments |   6400 Views


Concept of Income Tax

  Mitali    09 January 2024 at 17:54

A tax is a compulsory payment imposed by a government on individuals or organizations to generate revenue for public services and infrastructure. Here taxes are divided into direct taxes, levied on individuals or businesses directly, and indirect taxes, collected by intermediaries and passed on to consumers through goods and services.

Posted in Income Tax |   4259 Views


GST Full Form and Meaning

  Mitali    09 January 2024 at 15:51

GST stands for Goods and Services Tax, is a comprehensive indirect tax levied on the supply of goods and services in India.

Posted in GST  1 comments |   4031 Views


The Golden Rules of Accounting

  Mitali    08 January 2024 at 16:06

The golden rules of accounting are principles that guide the recording of financial transactions. The rules ensure consistency and accuracy in recording transactions, helping maintain the fundamental accounting equation. The rules can be better understood from the type of accounts under different approaches.

Posted in Accounts  3 comments |   6824 Views


How to file GSTR-9

  Mitali    11 December 2023 at 13:20

GSTR-9 is a summary report that businesses file annually, consolidating details of their sales, purchases, tax liability, and input tax credit for the entire financial year.

Posted in GST |   4493 Views


Remuneration for Company Directors

  Mitali    07 December 2023 at 11:54

Director's remuneration refers to the compensation or payment that directors of a company receive for their services and responsibilities. Remuneration for directors (including managing or whole-time directors) is decided by the articles of the company or by a resolution in a general meeting.

Posted in Corporate Law |   1741 Views


How to Detect Fake Invoices under GST

  Mitali    29 November 2023 at 14:44

Fake invoices refer to documents that falsely represent a transaction between two parties, typically involving the exchange of goods or services for payment. These invoices are deliberately created to deceive and can be used for various fraudulent purposes.

Posted in GST |   22064 Views