The Income Tax Act, 1961, Chapter VIA discusses the deductions that must be made in order to calculate total income. It is divided into three parts- A- General B- Deductions in respect of certain Payments C- Deductions in respect of certain Incomes Section 80JJAA comes under Deductions in respect of certain Incomes.According to this […]
Financial security is vital to spend your post-retirement life in peace and fully enjoy it. This is where retirement planning comes in. There are many ways to plan for retirement but one popular way to go about it is a superannuation scheme. Superannuation funds allow you to save effortlessly for retirement during your working years.
Karnataka Government issues ration cards to the households in the state as an official document to obtain food grains at subsidised rates. The issuance of ration cards comes under the National Food Security Act. Ration cards in Karnataka are issued by the Department of Food and Civil Supplies. Apart from providing food grains at subsidised
According to Section 195 of the Income Tax Act of 1961, an individual living in a house owned by a Non-Resident Indian (NRI) must mandatorily deduct a TDS of 31.2% while paying rent. Upon TDS payment, the tenant needs to submit Form 15CA to the Income Tax Department Are you a Non-Resident Indian (NRI) who
A promissory note is a debt instrument that contains a written commitment by one party (the note’s issuer or maker) to pay another party (the note’s payee) a specific amount of money, either immediately or at a later date. A promissory note usually includes all the details of the debt, including the principal amount, interest
A payment ledger is one of the basic tools of bookkeeping. It helps to record payments related to a specific purpose. This might be anything from a small project within a company to the full day-to-day cash activities of the entire company. A ledger allows you to record the item when it is conceived and then
The Indian state of Andhra Pradesh is situated in the south-eastern region of the country. Tirupati temple is one of the most popular tourist attractions of this coastal state. It has a mixed demographic of rich and poor, however, most families fall in low-income groups. One of the major challenges here is access to quality
Last date, ekharid, registration, online portal Haryana Haryana Agriculture and Farmers Welfare Department has launched the portal for Meri Fasal Mera Byora Yojana 2024 for the last time, through which farmers will be able to register their crops. This opportunity is for those farmers who have not yet registered their crops. Wheat and mustard crops
The Indian government has decided to make GST e-invoicing mandatory for firms whose turnover exceeds Rs 5 cr via central tax notification number 10/2023. The GST council has recommended the GST e-invoice limit and the new rule has already been effective voluntarily from August 2023 as per the notification no. 10/2023 – Central Tax. GSTN recently issued
Whenever you borrow a loan for buying an asset such as a car or a house, the institution from which the loan has been borrowed will place a lien on the asset. In simple terms you can say that if you buy a car on loan, the bank that you borrowed the loan from will grant a lien on
CA Bhuvnesh Kumar Goyal
Chartered Accountants
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