In a perfect world, every business or individual who comes under the purview of the tax system will wholeheartedly follow all the rules and will never make any advances to avoid or evade taxation. However, if this were to occur, there would be no need for a system in the first place. In the real …
A society is formed when group of person come together with a common purpose. A society is registered under Societies Act, 1860. Requirement of minimum members Minimum 7 members are required to form a Society All the compliances of a trust as per the provision of the Income tax Act are same and applicable to …
Trademark is a visual symbol or logo used to indicate the source of the products or goods. The symbol or logo can be a word, signature, number, geometrical figure, monogram, a combination of words and numerical, a combination of colours with a logo, or it can even be a sound mark. Some of the key …
Tax preparation implies the process of tax return by an individual of an organisation; tax could be applicable on income tax, excise duty, etc. It was a very cumbersome process so it requires careful perusal of the financial activity. In developed countries like India now starting outsourcing their work of tax preparation. Services availed from …
The CBDT has inserted Section 139(8A) Of Income-Tax Act, 1961 and Rule 12AC of Income Tax Rules to furnish an updated return. That is:- “Any person, whether or not he has furnished a return under sub-section (1) or sub-section (4) or sub-section (5), for an assessment year (herein referred to as the relevant assessment year), …
