Venkkatesh K Uncategorized direct-tax, income-tax, India, Taxation 0
Income Tax Act, 1961 has formulated certain provisions for the computation of Total Income of the assessee to levy Income Tax. And there is a specific procedure to be followed for the computation of the Total Income. And the procedure starts from knowing the Residuary Status of the assessee to the deduction of Advance Tax […]
Venkkatesh K Uncategorized Accounting, questions-and-answers, recording-accounts-in-tally-erp-9, tally-tips 14
When ever a person paid his or his dependents’ Insurance Premium can account in his books of Accounts for assessment of Accounts. And there are two different possible methods available for Accounting of payment transaction of Premium of an Insurance to Life Insurance Corporation of India, or other such Insurance Companies. The most common thing […]
Venkkatesh K Uncategorized andhra-pradesh, CST, E-Filing, e-Returns, India, Statutory Forms, VAT 0
In order to obtain the C Form from the Computerized Dealer Service Center (CDSC) through courier first the VAT Dealer need to upload the details pertaining to the CST Purchases, for which he is requesting the C Forms. And that information need to be prepared in a specific file named C Form Utilisation excel file […]
Venkkatesh K Uncategorized direct-tax, income-tax, Taxation 0
Income Tax is collected based on the Income earned by the assessees and it is mandatory to know the definition of the Income as per provisions of Income Tax Act, 1961. The definition for the Income starts with “Income includes” In the Act. In the Act the definition does not confines the scope of the […]
Venkkatesh K Uncategorized direct-tax, income-tax, Taxation 0
In India Income Tax is the most prominent, and significant Direct Tax collected by the Central Government. Income Tax is levied on Total Income of the previous year of Individuals, Hindu Undivided Family (HUF), Association of Persons (AOP), Body of Individuals (BOI), Firms, Companies etc., annually at once. And there are different Slab Rates are […]
Venkkatesh K Uncategorized indirect-tax, Taxation 0
If the Tax is levied on the Selling Price of the Product or Service in the Country then it is called as Indirect Tax. Under this type of Taxes, Government involves the Dealers, Agencies, and other Local Bodies to collect the taxes from the ultimate product or service user and they pays back to the […]
Venkkatesh K Uncategorized direct-tax, India 0
Direct Taxes are having big scope and having its effect throughout the Country and having no partiality among the State Governments. It is levied by the Central Government and the amendments are being done by the Ministry of Finance of India in each and every year in the form of Finance Budget according to the […]
Venkkatesh K Uncategorized direct-tax, indirect-tax, Taxation 0
Before begin to learn Tax, it is better to understand the Meaning of Tax and why the Government is Collecting or Levies Tax on Individuals, Firms, and Companies. In general, Tax is nothing but a kind of fee to be payable on a product, services (financial activities) and Income earned. At present, there are different […]
Venkkatesh K tally banking-tally-erp-9, tally-tutorial 0
It is common practice of every firm or a company to verify its Books of Bank Accounts against the Pass Book of its Bank. Both records are inappropriate with each other due to the reasons of financial transaction happened in Bank and at Business. Hence, our books of records would show excess or deficit Bank […]
Venkkatesh K Uncategorized Banking, Legal Documents, letter-drafting 0
Bank Statement will show you the financial record, pertaining to a particular period. Obvious we get our day to day bank transactions in the Bank Passbook, yet in some cases it is mandatory for us to obtain a separate Bank Statement from our banker it might be the reason that you might be obtaining Bank […]
