Balance sheet of assets and liabilities is not easy thing to prepare , specially by an Individual. But it is noted with from feedbacks given by various users of this…
Assessment
Assessment under Income Tax Act 1961 means a written order of computation of total income by the assessing officer. The assessment of total income is done under different circumstances. One is when a person files return of income and the a processing by computer is done to assess the total income , tax payable or refundable. Then there is assessment after scrutiny under section 143(3). Similarly when search and seizure is conducted under section 132 of the Income Tax Act, A.O passess order fo assessment u/s 153A or 153C as teh case may be . Assessment also include reassessment.
The unfortunate situation a family may face when an earning person suddenly expires . In such tragic situation , one more problem is of tax compliance. As per the law , it…
SECTION 220 OF THE INCOME-TAX ACT, 1961 – COLLECTION AND RECOVERY OF TAX – WHEN TAX PAYABLE AND WHEN ASSESSEE DEEMED IN DEFAULT – AMENDMENT OF INSTRUCTION NO.1914, DATED 21-3-1996…
It is common for the income tax department to ask for audit report in form 10B from an applicant trust or society who file application before commissioner of Income Tax…
The intention of the present-day government to create jobs is clearly visible as they have provided incentive to create , recruit the new workforce . More so , because the incentive is…
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