Can a director also work as a salary employee or consultant Yes, that is possible. A director of one company may also work for another as an employee. The Companies Act of 2013 states that there is no such clause prohibiting directors from working for other businesses. Although the responsibilities and functions of a director …
key points to be disclosed or considered before finalizing the financials statement of Companies for the FY ended 202X. The finalization of an entry in the book of accounts for an entire financial year is referred to as the finalization of an account. The creation of the Trial Balance based on the ledger account marks …
No need to Form 10-IE for exercise/withdrawal of option u/s 115BAC in ITR 1 & ITR 2 Each individual and Hindu Undivided Family who exercises the option under section 115 AC (The New Tax Regime) is required by Rule 21 AG to submit an application in Form 10-IE via electronic means on their income. The …
New Functionality “Know Your Income Tax Refund Status” Which will helps in checking status of pending refund without login on income tax portal CBDT: Income tax refunds of over INR 1,00,000/- Cr issued this FY Central Board of Direct Taxes announced on Wednesday that taxpayers have received refunds totaling Rs 1,02,952 crore in the current …
Stay Ahead of Tax Season with Effective ITR Filing Strategies Introduction Tax sеason is around the corner, and you might be wondering how to do your ITR filing in thе most efficient and hasslе – free way. Filing your ITR on time not only helps you avoid penalties and interest but also allows you to …
Unjust Enrichment under the Goods and Services Tax Act Due to the fact that GST is an indirect tax structure and that the consumer has to bear its incidence, it is usually assumed that the owner of the business will transfer the incidence of tax to the final consumer. For the same reason, any refund …
How to show income from NRI sale of shares in Income Tax Return ? We are all aware that company income, rental revenue, and salary income are all taxable. What about earnings from the sale or acquisition of shares, though? Many stay-at-home moms and retirees make a living by buying and selling stocks, but they …
ICAI has unveiled a new logo on 75th Happy Chartered Accountant Day ICAI has unveiled a new logo to mark the beginning of its 75th year, coinciding with CA Day. The Garuda, a mythical bird-like creature that represents strength, power, and wisdom in Indian mythology, is depicted in the logo in a modern setting. A …
Reasons Every Business Required A Business Website As per SCORE Association, only 51 % of SME businesses have own websites, despite the fact that 97 % of consumers search for products & services online, Disconnect between SME companies & Growing No of clients who vet brick & mortar businesses based on their website online presence …
Income Proof with KYC becomes Compulsory for INR 10,00,000/- investments in small savings schemes. Govt of India has now made it Compulsory for those investing over INR 10,00,000/- in post office schemes to provide proof of source of funds. It has also brought all investments in post office schemes under stricter Combating the Financing …