The general purpose financial statements of an entity are prepared using the going concern basis of accounting unless the management intends to liquidate or to cease the operations or there is no realistic alternative to do so.
In pursuance of rules framed under section 199 of the Income Tax act, credit for tax deducted at source shall be given to the deductee for the assessment year for which such income is assessable.
Enrolling for CA Final level course has become an easy task since ICAI has made all the registration process online. This article is a complete guide for CA Final Registration.
Residential Status is to be determined for the taxability of income of a person. This term is coined under the Income Tax Act and has nothing to do with the nationality or citizenship of a person.
CBIC has issued Notification No 05/2021 - Central Tax dated 8th March 2021 for the implementation of e-invoicing for the taxpayers having aggregate turnover exceeding Rs. 50 Cr from 1st April 2021.
The CBIC has notified that e-invoicing will be applicable from 1st April 2021 for businesses with a turnover of more than Rs.50 crores (in any financial year from FY 2017-18 onwards).
Discussing the key updates issued by the government under the Companies Act 2013, including updates w.r.t Annual Returns and amendments in various Rules under the Companies Act.
Taxpayers are required to select their business activity only once, as - Manufacturer, wholesaler/Distributor/Retailer, service providers & others post login, based on the highest turnover amongst them.
Section 197A provides for any individual, not being a firm or a company, to apply for an exemption of TDS deduction on his/her income from interest on deposits with the banks in India if such income is below the taxable limit.
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