The government has organized a system to facilitate the registration of MSMEs. An enterprise for this process will be known as Udyam and its Registration Process will be known as ‘Udyam Registration’. A permanent...
A) Due dates for Compliance under Income Tax
7 June 2021 - Due date for deposit of Tax deducted/collected for the month of May, 2021. However, all sum deducted/collected by an office of the government...
What is Professional Tax?
Professional tax is a tax that a state government levies on any individual who earns income through any medium. Unlike the name suggests, it is not just for professionals but for...
Any payment made to a non-resident or a foreign company is subject to various rules and regulations.
As per provisions of Section 195 of Income-tax Act,1961 any person responsible for paying money to a non-resident...
1. What is the Return of deposit (Form DPT-3)?
Any receipt of money by way of deposit or loan or in any other form, by a company other than receipt of money not considered as...
Announcement by The Institute of Chartered Accountants of India
Criteria for classification of Non-company entities for applicability of Accounting Standards. The Council, at its 400th meeting, held in March, 2021, considered the matter...
ITAT has announced that e-filing portal will be launched for filing of appeal before the Income tax appellate tribunal.It has been mentioned that e-filing portal shall be live from 21.06.2021 but same shall be...
Depreciation is allowed as a deduction under section 32 of the Income Tax Act, 1961. In the computation of taxable income, the depreciation rate as per income tax act will be allowed as deduction...