The 0 tax on income upto Rs 12 lakh is applicable only when income is below 12 lakh. (12.75L if we consider standard deduction of 75K as well) However if income is more than 12.75 lakh, you will have to pay full tax from 4 lakh and above. 0-4 lakh – 0 tax4-8 lakh – […]
Clarification on the new tax slabs #Budget 2025 Read More »
Extraordinary items Extraordinary items are income or expenses that arise from events or transactions that are clearly distinct from the ordinary activities of the enterprise and, therefore, are not expected to recur frequently or regularly. Some Examples of Extraordinary items like Loss due to Floods, Fires, Earthquake etc. Exceptional items The term ‘Exceptional items’ is
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A journal voucher and a general journal are both accounting tools used to record financial transactions, but they serve different purposes and have distinct characteristics: In summary, the main difference between a journal voucher and a general journal lies in their purpose and usage. The general journal is a formal record of all types of
what is the difference between journal voucher (JV) and a general journal (GJ) Read More »
Introduction: Tax Deducted at Source (TDS) is a mechanism introduced by the Income Tax Department to collect tax at the source itself, ensuring a steady revenue stream for the government and preventing tax evasion. TDS applies to various types of payments made by individuals, firms, or companies and plays a crucial role in the overall
TDS (Tax Deducted at Source) Under Income Tax: A Comprehensive Guide Read More »
In the realm of corporate governance and financial transparency, the Companies Act of 2013 stands as a pivotal legislative framework in India. One of its significant provisions pertains to the maintenance of an audit trail within companies. The audit trail serves as a chronological record of financial transactions and activities, essential for ensuring accountability, accuracy,
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आयकर पर TCS: आय पर संग्रहीत कर का विस्तृत लेख भारतीय आयकर प्रणाली में TCS (तैक्स कलेक्शन एट सोर्स) एक महत्वपूर्ण कर है जो आय प्राप्त करने वाले व्यक्तियों द्वारा उधारी की जाती है। TCS एक संग्रहीत कर है जिसे आयकर विभाग द्वारा नियमित किया जाता है। इस लेख में, हम TCS के बारे में
आयकर पर TCS: आय पर संग्रहीत कर का विस्तृत लेख Read More »
आयकर में टीडीएस: आय पर कटौती का विस्तृत लेख भारतीय आयकर प्रणाली में टीडीएस (टैक्स डेडक्शन एट सोर्स) एक महत्वपूर्ण आयकर कटौती है जो आय प्राप्त करने वाले व्यक्तियों द्वारा चुकता की जाती है। टीडीएस का प्रयोग सीधे कटौती के रूप में किया जाता है और आयकर विभाग के नियमानुसार प्रतिष्ठित होता है। इस लेख
आयकर में टीडीएस: आय पर कटौती का विस्तृत लेख Read More »
If the movement of goods is taking place and its value exceeds INR 50,000, then even if it is not a supply/sale, it is still necessary to generate an e-way bill. For example, if a car showroom owner is transporting their demo vehicle from one place to another, in this case, it is not a
E way bill requirement in GST Read More »
Penalties related to fake invoices and GST are governed by the Central Goods and Services Tax (CGST) Act, 2017. The specific section that deals with penalties for issuing fake invoices is Section 122 of the CGST Act. Under Section 122, if a person is found guilty of issuing fake invoices or engaging in any fraudulent
Section 122 of the CGST Act Read More »
भारत में, जाली चालान और जीएसटी से संबंधित दंडों का प्रबंधन केंद्रीय वस्तु एवं सेवा कर (सीजीएसटी) अधिनियम, 2017 द्वारा किया जाता है। जाली चालान जारी करने के लिए दंड से संबंधित विशेष धारा है सीजीएसटी अधिनियम की धारा 122। धारा 122 के तहत, यदि किसी व्यक्ति को जाली चालान जारी करने या किसी भी
सीजीएसटी अधिनियम की धारा 122 Read More »
