Most of the people are very much confused about the maintenance of books of accounts and audit requirement thereof. There are many misconceptions about the legal requirement for books of accounts as per the income tax act. The books are not mandatorily required to maintain in case of every single bu..
Dear Friends, from the last few months we have been consistently witnessing the errors and flaws in the ICAI evaluation procedure, ICAI question papers, and their marking system etc. Also, there were ongoing demands for correcting these flaws. Some of the eminent faculties come forward and take a bo..
Chartered Accountant (CA), I believe everyone in the country must be aware of these two words and the roles and responsibilities attached to it. Especially after the PM Modi Speech last year on GST Inauguration-cum-CA DAY on 1st July 2017. I still very clearly remember that day when our CA Institute..
In the last part of this summary, we have learned about the basic meaning of TDS, some concepts which were very useful and commonly applied on all sections, and the various sections under which the TDS is being deducted. Now, In the Part-II, we will get the details about the procedural parts regardi..
The Central Govt. launched the 'Sukanya Samriddhi Account' programme in January 2015 with an objective to promote the welfare of girl child. It is a small deposit scheme for girl child which ensures their secure future and reduce their financial difficulties which they might have in future f..
Recently, Govt. has introduced a law which has given a sudden jolt to the real estate sector. But the fact is, it is not only the real estate sector which would be affected by this law but it would have an impact on all types of properties be it movable or immovable. This law is called the Benami Tr..
In some manner, all of us must have somehow come across the Tax Deductions, be it on Salary, on Fees or any other kind of payments. But people are very less aware of the various situations and the law governing TDS. What are the limits up to which TDS should not be deducted? What are ..
You must have heard about some of Charitable Trust or Religious Trust or any Trust which is doing both. You could find that in the form of NGOs, Mandir Trusts, Gurudwaras Trusts etc. They generally receive their source of operation by way of contributions, donations etc. They mainly work toward the ..
Do you have Losses? Have you also faced the losses in past years as well?? It's sad to know that you have to confront the losses.! But do you know that there are some uses of these losses too? And these losses can somehow be used to make you benefitted. Enough of Quizzes.! Right?? But I am not k..
I believe you must have heard of Hindu Undivided Family (HUF). Most of the people think that this is a person which are created by some kind of Agreements etc. Well, if you are also one of them then it's time to bust your myth about that. Because the fact is something far different from that. So..