The TAN (Tax Deduction Accounting Number) is a unique number which must be applied by every deductor of tax . The TAN is required to be quoted for filing of TDS statement as well as while paying the deduct tax . Readers must be knowing that one can apply online for TAN allotment. Chart for [...]
The Union Cabinet approved the creation of seven posts of ‘Indirect Tax Ombudsmen’ to redress of grievances over customs, excise and service taxes.The ombudsman offices are initially to be set up in Delhi, Mumbai, Kolkata, Chennai, Bangalore, Ahmedabad and Lucknow.The creation of posts of Ombudsman was long overdue for indirect taxes because for income tax [...]
Update: Online Refund Status Can be checked easily. Under income tax law , a person need not claim refund separately if he/she or it had claimed refund of excess income tax paid in his/her/it return of Income. The department processes the return and whatever tax refund is due is given to assessee. The tax refund banker...
Tax audit limit of Rs.40,00,000/- includes Ex-Works + Excise Duty + VAT or only Ex-Works amount to be considered. Excise duty and VAT not debited in profit and loss account. It’s accounted as current liability. Girish Pithwa , Ahmedabad
Section 145A of the I T Act states that purchase , sale and inventory shall
What are types of Motor Insurance covers?There are mainly two types of motor insurance- Comprehensive insuranceThird Party Insurance.While the Comprehensive insurance covers you against any loss or damage causing by Natural Calamities which includes fire, explosion, self ignition or lightning,earthquake (fire and shock damage),flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, and frost etc Third Party insurance