Written on Aug, 17, 2012 by in | Leave a comment

WHO SHOULD FILE THE INCOME TAX RETURN? :- Every person, whose income is taxable, must file the income tax return with income tax authorities within the stipulated time. The following persons will have to file income tax return:- All Individuals Hindu Undivided Family (HUF), Association of Persons (AOP)/Body of Individuals (BOI) (where individual shares of the members are known) And …

Written on Aug, 15, 2012 by in | Leave a comment

What is Tax Deduction at Source (TDS)? Financial Year 2016-17 Onward According to Indian Income Tax Act there are some specified payments against which tax is to be deducted at the time of payment or at the time of accrual, is called Tax Deducted at Source. Tax is being deducted by the person who pays the money at prescribed rates …

Written on Aug, 15, 2012 by in | 2 Comments.

What is Partnership Firm? When two or more person agree to start a business which will be carried on by all or any of those partners acting for all, with an aim of earning profit out of the activities of the business, will be called as partnership firm. But the partnership firm is an independent entity like other individuals. Therefore …

Written on Aug, 11, 2012 by in | Leave a comment

What is business: In brief, Business includes any trade, commerce and manufacturing of goods with a purpose of making profit within the permissible laws of country. What is a Profession: It includes services provided by the professionally qualified or technically qualified person according to their qualification. Income from Business/Profession: means any income which is shown in profit and loss account …

Written on Aug, 11, 2012 by in | Leave a comment

Any income which does not fall under any other head of income i.e. Income from business/profession, Income from salary, capital gains and house property then it will be called as income from other sources. Following are few examples of income which are treated as income from other sources as per Indian income tax act:- Any amount received as rent from …


Related pages


income tax slab rate for ay 2013 14journal entry of loan taken from bankwhat is payment voucher in accountingwhat is the purpose of the adjusted trial balancehindi meaning of convenceinsurance paid in advance journal entryaccounting entry for prepaid insuranceexemption from tdscomputation of house property income format80u deductiondifference between bookkeeping and accounting pdfaccounting and bookkeeping differencetax slab assessment year 2014 15income tax deduction slabcontra entry exampleledger folio numberexplain bank reconciliation statementsundry definition accountingcash memo wikipediasample of a bank reconciliation statementdeduction for preventive health check upexemption from tds deductiondelivery challan formatwhen tds to be deducteddefine sinking fundhow to prepare trial balance from ledgerredemption meaning in accountingwhat is a trade discount in accountingdisallowable expenses for income taxadvance cash receipt formattally erp 9 tutorialscreditor deftax deducted at sourcesaccount receivable is debtor or creditorspecimen of trial balancededuction under income from house propertybank reconciliation statement is prepared byincome tax slab for assessment year 2014-15performa of trial balancewhat is the purpose of the adjusted trial balancetds on property above 50 lakhsdeduction under 80ttawhat is accrued interest receivableaccounting rules of debit and creditcash voucher wikipediatds salary deductionexamples of income tax calculationswhy we prepare bank reconciliation statementtds limit for advertisementincome tax calculator india 2013-14trade discount accounting entrysecured borrowing definitionincome tax calculator 2014-15 indiaperforma of trial balancetds rate on salarytally erp tutorialformula to calculate vatincome tax rule 80ttameaning of payment vouchersundry debtors definitiondebtor accounting definitiontally tipscontra voucher meaninginterest receivable entryrules of debit and credit with examplestax slab for ay 2013 14example of cash vouchercontra payment letterwhat is an indirect expensecontra entry definitionpartnership trading profit and loss account formatsundry debtors and sundry creditors meaningdifference between bookkeeping and accountingwhat is sundry assetsfdr deduction under section 80c