CS Students who are unsatisfied with the CS Results have the remedy of either opting for Verification/Revaluation of Answer Sheets or opting for Disclosure, Inspection and supply of Certified Copies of Answer Sheets of CS Exams. The procedure for Disclosure,...

In some cases, it has been observed that there is a TDS Mismatch in Form 26AS and in Form 16/ Form 16A which should not happen. The TDS amount reflected in Form 26As and Form 16/16A should always be the...

Section 44AA prescribes the persons who are mandatorily required to maintain books of Accounts for Income Tax purposes. As per Section 44AA, any person carrying on any of the following professions is required to maintain books of accounts:- Legal Medical...

On 1st August 2013, ICAI laid down the revised formal procedure for filing an application for Disclosure of Answer Sheets of CA Final, IPCC & CPT and also announced that Disclosure of Answer Sheets shall not be mistaken with Verification/ Revaluation...

The Finance Act 2014 which was presented by Arun Jaitley has brought in several amendments one of which is Section 56(2)(ix) which deals with tax treatment of advance forfeited on the sale of property. Section 56(2)(ix) – Advance Forfeited on...

Update: Dividend Distribution Tax has been abolished from FY 2020-21 onwards. With this amendment, the dividend is taxable in the hands of the recipient and no Dividend Distribution Tax is to be paid. Dividend Distribution Tax is the Tax which...

Kisan Vikas Patra (KVP) has been reintroduced in Budget 2014 which was earlier discontinued in the year 2011. The Kisan Vikas Patra which is a fixed income earning instrument and on which fixed interest is paid can be purchased from...

Common Proficiency Test (CPT) is the entry level course and is same as Entrance Exams of Other Professional Organisations. Students interested in pursuing the Chartered Accountancy Course have to first apply for CPT Registration by purchasing the Brochure available at...

There are various Incomes which are exempted from the levy of income tax in the hands of the person who is receiving the amount. As these incomes are exempted from the levy of Income Tax, many people don’t disclose such...

A Mutual Fund is a professionally organised fund which collects money from the public and then invests this money in those instruments for which it has raised funds.  There are many types of Mutual Funds, but the 2 most popular...