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 …


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