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Posted On:  2 years ago


Deduction under section 80 DDB of the Income tax act 1961

Incurred huge amount of expenses on the medical treatment of family member what to do now as on the other side the lump sum amount of tax calculated by your Chartered accountant is also freaking you out. For such people government has introduced section 80DDB to claim deduction for the expenses incurred in respect of medical treatment incurred for himself/his dependent.

article author Hitesh Solanki

Posted On:  2 years ago


GN (A) 35 Guidance Note on Accounting for Depreciation in companies in the context of Schedule II to the Companies Act, 2013

Schedule II to the Companies Act, 2013, specifies useful lives for the purpose of computation of depreciation. The said Schedule II was further amended by the Ministry of Corporate Affairs (MCA) through its notifications G.S.R. 237(E) dated March 31, 2014 and G.S.R. 627(E) dated August 29, 2014, respectively. As compared to Schedule XIV to the Companies Act, 1956, Schedule II, instead of specifying rates of depreciation for various assets, specifies that depreciation

article author CS Perila Sheth

Posted On:  2 years ago


Deduction under section 80TTA of the Income tax act 1961

Confused as to taxability of saving bank interest a/c? This article will help you to understand benefit of section 80TTA to reduce your tax liability. Confused about how to reduce tax? And you also don’t have any other source which will help you to reduce tax then do not worry. When all other sources fail there is Savings interest for saving your tax. You can claim this interest as deduction under

article author CA Chirag Chauhan

Posted On:  2 years ago


All about Section 44AD of Income Tax Act

Detail Analysis of Section 44AD of Income Tax Act, 1961. This is one of the Dramatic section of whole Act, which is not tough as well as not simple.

article author Darshan Jain

Posted On:  2 years ago


MCA proposes new CARO, 2016 - Companies Auditor’s Report Order 2016

On 9th February, 2016, Ministry of Corporate Affairs (MCA) has issued draft Companies (Auditor’s Report) Order (CARO), 2016. As per Section 143 of the Companies Act, 2013, every auditor’s report under this section shall contain matters specified under applicable CARO (currently CARO, 2015). In comparison to the existing CARO (2015), CARO (2016) proposes reporting on some new requirements and eliminates some of the existing reporting requirements.

article author CS Perila Sheth

Posted On:  2 years ago


What to do if Notice comes from Intelligence and Criminal Ward of Income Tax

How to Response to Notice came from Intelligence and Criminal Ward of Income Tax

article author Hitesh Solanki

Posted On:  2 years ago


Wage ceiling under Employee provident fund act- FAQS

This article gives an overview on wage celling, status of the employees on the drawing of various limit of salary, amounts to be considered at the time of making contribution for provident fund.

article author One Roof Consultant

Posted On:  2 years ago


International worker under the Employee Provident fund Act- FAQS

This article gives an overview about International worker who is an international worker, which worker is covered as an International worker and who are excluded from International worker category. The article also includes provisions on Social Security Agreements.

article author One Roof Consultant

Posted On:  2 years ago


Exemption under Employee Provident Fund Act- FAQs

This Article gives an overview about the various Exemptions Covered under the Employee Provident Fund Act like Which employee is eligible for exemption, Types of exemptions available for employees, the requirements to grant the exemptions etc

article author One Roof Consultant

Posted On:  2 years ago


Filing Return and Exemption from Filing, updating or Edit of Returns under Employee provident fund act- FAQS

This article gives an overview about the various establishments exempted under the Employee Provident Fund Act, Category of establishments which comes under the obligation to file return under the law.

article author One Roof Consultant

Posted On:  2 years ago


Employer Registration under Employee provident fund act- FAQS

This article provides detailed information on how an employer must get register his/her establishments on the EPFO portal, the effects in case a employer does not gets himself register on the portal, what to do in case employer forgets his user ID and Password.

article author One Roof Consultant

Posted On:  2 years ago


ECR platform under Employee provident fund act- FAQs

This article gives an overview on ECR platform, how to upload on ECR platform, the format ECR steps to do in case ECR is not uploaded properly.

article author One Roof Consultant

Posted On:  2 years ago


Annexure II under Employee provident fund act- FAQs

This article provides the various information relating to how to prepare Annexure II, how to change the data in the Annexure II and to create txt file in Annexure II.

article author One Roof Consultant

Posted On:  2 years ago


Eleven types of Income on Which You Don't Have to Pay Taxes in india

There are certain incomes that are exempt from income tax. If you get your income from these sources, your tax liability will be zero.

article author CA Chirag Chauhan

Posted On:  2 years ago


Saving tax is not crime, in fact it is also responsibility

Its misconception that if you are saving your tax, you are doing crime or you are not adhering your responsibility.This article highlights how your tax saving helps government to even complete their responsibility

article author CA Nikesh Sheth

Posted On:  2 years ago


Recapitulation of errors that need instant rectification!

With the budget round the corner, the Department of Ministry of Finance is flooded with the representations conveying the expectations, suggestions, amendments and clarifications in the laws to be implemented in the forthcoming budget. Although, the list of expectations and amendments needed is never ending, but this article is penned to highlight the changes expected by the assesses in indirect taxation laws which if not considered, may create difficulties in doing business in an easy manner thereby refuting the motto of ‘ease of doing business’.

article author CA PRADEEP JAIN

Posted On:  2 years ago


Section 80E – Deduction for Interest on education Loan

Have you taken an education loan to support higher studies of yourself or of your spouse, Children or for the student of whom you are legal guardian and you are not aware of the tax benefits that you are entitled to. Then here is a guide that will assist you to know tax benefits on education loans. These benefits help you to reduce the overall cost of your education loan.

article author Sumit Gupta

Posted On:  2 years ago


Gumasta – Shop and Establishment Act not applicable for Chartered Accountant, Lawyers and Doctors

Registration of Shops and establishment in Mumbai is mandatory under Maharashtra Shops and Establishment Act. Gumasta is governed by the Municipal Corporation of Greater Mumbai under the Maharashtra Shops and Establishment Act 1948. For other regions there are state government Municipal Corporation responsible for providing license. This act enables the registration and obtaining of certificate from Municipal Corporation for your new shop/ business.

article author CA Chirag Chauhan

Posted On:  2 years ago


How to maintain safe distance from the Income Tax Department

A few safety measures to avoid receiving a notice from the Income tax department.

article author ROHIT SHARMA

Posted On:  2 years ago


Import of Capital Goods is not permitted under EPCG Scheme for generation/transmission of power

Notification issued by DGFT on Amendment in Para 5.01(g) of FTP 2015-2020

article author Deesha Shah