01. What is the No. 16 Form? The employer deducts any amount of salary as income tax (Tax Deducted at Source or TDS) while paying salaries to you and deposits this amount to the government on your behalf. Your employer will send you the declaration of your wage, all other income and tax savings in…
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Budget 2021 will be announced on 1st February 2021 addressed by FM Nirmala Sitharaman New Income Tax Slabs for individuals under the new tax regime. Applicable to FY 2020-21 (AY 2021-22) Update on Budget 2021: It has been suggested to exclude senior citizens from filing income tax returns if their only source of annual income…
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What is a business tax return? Basically, a business tax return is an income tax return. The return is a declaration of the company’s revenue and expenses. In this return, any tax to be charged on the income earned by you is also declared. The return provides descriptions of the assets and liabilities held by…
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Latest GST News – Updates – Announcements Extend the maturity date of the GSTR-3b file! GSTR-3B’s maturity date for April 2018 was extended to May 22, 2018, from 20 May 2018. Last updated as April 10, 2018 In the state, the implementation of electronic trend bills starts to Telangana, Gujarat, Uttar Pradesh, Andhra Pradesh and…
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What is an audit? What are the objectives? What is “audit” An audit is an objective examination and an assessment of the financial statements of the organization to ensure that the records are a fair and accurate representation of the transactions it claims to represent. This can be done internally by employees of the organization…
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GST Council to take up 5% sugar cess to compensate cane farmers Meanwhile, many countries are opposed to the idea of a separate GST service because they run counter to the principle of a common indirect tax On Friday, the GST will consider a proposal to impose a sugar tax to compensate sugarcane farmers. The…
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Top 4 Practical Benefits of Cost Audit Report This article highlights the four most important practical benefits of a cost review report. The practical benefits are 1. Consumption of materials 2. Use of materials 3. Cost of services 4. Control of expenses. Cost Review Report: Operational Benefit 1. Consumption of materials: In order to comply…
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