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Person [Sec. 2 (31)]: Definition and type of person under Income Tax law

Income Tax /

The person includes the following: an Individual. a Hindu Undivided Family (HUF). a Company. a Firm. an Association of Persons (AOP) or a Body of Individuals (BOI), whether incorporated or not. a Local authority; & every artificial juridical person not falling within any of the preceding categories. Now we are discussing in detail all above […]

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निर्धारिती (Assessee) क्या है? आयकर अधिनियम की धारा 2(7) के तहत एक निर्धारिती (Assessee) क्या है?

Income Tax /

i) एक व्यक्ति जिसके द्वारा आयकर अधिनियम के तहत कोई कर या कोई अन्य राशि देय है। ii) प्रत्येक व्यक्ति जिसके संबंध में इस अधिनियम के तहत कोई कार्यवाही उसकी आय या हानि या उसके कारण वापसी की राशि के आकलन के लिए की गई है। iii) एक व्यक्ति जो किसी अन्य व्यक्ति की आय

निर्धारिती (Assessee) क्या है? आयकर अधिनियम की धारा 2(7) के तहत एक निर्धारिती (Assessee) क्या है? Read More »

What is P/V (Profit Volume) Ratio? How to Calculate P/V Ratio?

Accounting, Ratio Analysis /

The Profit Volume (P/V) Ratio is the measurement of the rate of change of profit due to a change in volume of sales. It is one of the important ratios for computing profitability as it indicates contribution earned with respect to sales. P/V ratio establishes the relationship between contribution and sales. It is importance for

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What are CSR (Company Social Responsibility) Policy and Its applicability?

Accounting, ROC /

“CSR Policy” is a statement which containing the approach and direction given by the board of a company, for doing the activities in areas or subjects specified in Schedule VII of the Act. Activities which may be included by companies in their Corporate Social Responsibility Policies Activities relating to:— (i) eradicating extreme hunger and poverty;

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What is the invoice furnishing facility (IFF) under the QRMP scheme?

Goods & Service Tax (GST) /

QRMP (Quarterly Return Monthly Payment) scheme means the business which turnover below or upto 5 crore in preceding financial year no need to file  GST Returns GSTR-1 & GSTR-3B on Monthly Basis. But, to facilitate the reflection of B2B supplies that are made during the first month and second month in GSTR-2A and GSTR-2B and

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TDS Changes in Budget, 2021 | TDS Amendment | TCS Changes in Budget, 2021

Income Tax /

TDS / TCS Amendments in Budget, 2021 A. Section 194 -TDS on Dividend (w.e.f 01st April 2020) In section 194 of the Income-tax Act, in the second proviso, after clause (c), the following clauses shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2020, namely:––

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