Amazon

Shoes

Financial package Phase 3 by Finance Minister Nirmala Sitharaman

-

Comments

Post a Comment

Popular posts from this blog

Power and functions of Income Tax Authorities

-
THE POWER AND FUNCTIONS OF INCOME TAX AUTHORITIES: CBDT: 1. The board can declare any association whether incorporated or not and whether Indian, or Non Indian as company under the provision of Section 2(17) 2. The board has power to determine the jurisdiction of various authorities mentioned in this act. ( Section 118) 3. The board may issue directions for the exercise of powers and performance of the functions by all or any of these authorities. While issuing such direction the Board will keep in mind any of the following criteria such as: territorial area, persons or classes of person, incomes or classes of incomes and cases or classes of cases. (section 120(1) and (3) 4. The board may authorise by general or specific order, director general or director to perform the powers of any of the income tax authorities. (section 120) 5. The board may authorise any of the authorities to exercise its power concurrently with any pother authority. In case such notification is iss...
Read more

Audit note book advantages and disadvantages

-
Advantages of Audit Note Book  Audit note book enables the auditor to record important points, which arise during the course of his audit; otherwise he might forget these points. An auditor can produce this book as a documentary evidence in a suit filed against him for negligence or misfeasance.  It facilitates the preparation of the audit report. If the assistant in charge is changed before the completion of a particular work, it acts as a guide and makes the completion of balance work easier. A credit note book makes the work of audit convenient because all the important details about audit can be recorded in this book and, as such, any change in the staff of the auditor does not disturb or dislocate the work of audit. It can help in making an assessment of the work of audit clerks. It provides a key to evaluate the efficiency of the audit staff. Disadvantages of Audit Note Book Very often, it creates misunderstanding between the client staff and ...
Read more

Income tax deadline

-
INCOME TAX RETURN DEADLINE The government mandates that individuals who earn a specified amount of annual income must f ile income tax return (ITR)  within a pre-determined due date. For the assessment year 2018-19 (financial year 2017-18), August 31, 2018 is the  deadline for individuals  to file income tax return. Income tax is levied on individual taxpayers on the basis of a slab system where different tax rates have been prescribed for different slabs. There are three categories of individual taxpayers- individuals (below the age of 60 years) which includes residents as well as non-residents, resident senior citizens (60 years and above but below 80 years of age) and resident super senior citizens (above 80 years of age).  In the general category (below 60 years) ,  1. Individual with annual income up to Rs. 2.5 lakh is not liable to pay income tax 2. Individual with an income between Rs. 2.5  lakh and Rs. 5 lakh, the five per cent...
Read more