Under Section 44AD, small taxpayers with less than 2 crores of turnover are not required to maintain books of accounts and their profits are presumed to be 8% of their turnover.
Owing to various complexities, people tend to make many mistakes while filing their Income Tax Return which can be easily avoided if proceeded with more caution.
The biggest mistake by brokers is that they never make their clients aware of Unsolicited Messages, Pumping and Dumping Scheme in the market by which a person may lose all their money.
MCA has notified the amendments in Section 135 as well in the CSR Rules on 22nd January 2021 with an aim to strengthen the CSR ecosystem, by improving disclosures and by simplifying compliances.
According to researchers, Covid-19 may have affected the mental health of adolescent children very badly. Young adults are known to have succumbed to depression as a result of little or no social contact.
Intraday trading is the process of purchasing and selling stocks within the same day before the market closes. Swing trading is a kind of fundamental trading in which positions are held for longer than a single day.
Disqualification of directors can be grouped into two parts - Disqualification at the time of appointment (Personal Disqualification) and Disqualification for re-appointment (Corporate Default).
Under Section 89(1), relief is provided by the income tax department in relation to the amount received in advance or in arrears in the form of salary which is related to any other FY.
It is getting difficult for GST taxpayers to match their Book's ITC with GSTR 2B ITC because GSTR-2B contains ITC which is not only related to the current month ITC. Here is a Simple Equation for matching the same.
The Director of a company is a person elected by the shareholders for managing the affairs of the company as per the Memorandum of Association and Articles of Association of the company.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English