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Section 194N: TDS on heavy cash withdrawal from Banks / Post Offices
With the amendment in Finance Act, 2020 section 194N was amended by substituting 83A which imposes 2% TDS on withdrawal of sum exceeding Rs.1 crore. This section has come into effect from 1st July 2020.
Maintaining your Mental Health in the Era of Cut Throat Competition
Our mental health is as important as our success or money. A human is an emotional machine. Spending quality time with ourselves or with our loved ones is as important as spending time building our careers.
ICAI CA Final Nov 19 Results Declared- Check pass percentage
The results of CA Final November 2019 were declared on the 16th of January 2020. Know how to check CA Final results, the pass percentage of CA Final Nov 19 results, rank holders of Nov 19 etc.
Complete Guide to Custom Exchange Rate
The custom exchange rate is used in filing the shipping bill and bill of entry. The exchange rate is the value of one country's currency in relation to author currency.
Professional Tax in India
Professional tax is an indirect tax imposed by the state governments in India. A person earning an income from salary, trades, callings, or practicing a profession are required to pay this tax.
What is Income Escaping Assessment?
In technical terms, the income which is not disclosed at the time of filing returns is referred to as the income escaping assessment. As such, a valid notice must be served before an assessment or reassessment.
The Magical Formula for Clearing CA Exams
With the never ending pressure to clear the exams and the fear of failure, it's a vicious circle through which a student goes through. In such a scenario, it's this magical formula that will keep you going.
Is Depreciation allowed when vehicle is not registered in the name of leasing company?
As per the Motor Vehicles Act, the registration of a leased motor vehicle should be in the name of the lessee. However, as per the Income Tax Act, the asset must be owned by the person claiming depreciation.
SEBI Reviews provisions pertaining to Related Party Transactions - Makes it Stricter !
SEBI, at its Board Meeting held on 28th September 2021 reviewed the regulatory provisions pertaining to RPTs and approved the amendments to SEBI LODR Regulations, 2015.
Income Tax Questions & Answers Series Part II: Section 50C
Section 50C was introduced vide Finance Act. 2002 w.e.f. 01.04.2003, and prescribes similar provisions in the case of transfer of land or building or both, held in the nature of ‘Capital Assets’.
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