SEBI (Securities and Exchange Board of India), decided during a board meeting held on 15 February 2022 to make it voluntary for the top 500 listed companies to separate the role of the chairperson of the Board and the chief executive officer (CEO) of the company. Before dealing with the Separation of Roles of Chairperson and…

CBDT (Central Board of Direct Taxes) on 30th march 2022 by Notification has informed the Income-tax (Fourth Amendment) Rules, 2022. CBDT informed about five income tax return (ITR) forms for the assessment year 2022-23. In this blog, we will discuss the Application of ITR in Assessment Year -2022-2023 as per the notification. Table of Content…

If you are running your own business and want to dissolve it then, voluntary liquidation may be the best option. In business, sometimes things don’t work out as we plan. Sometimes, we need to cut our losses and start fresh. In India, bad debts keep on increasing. Further, among total bad debt corporate bad debt…

India being a developing country, urbanization and industrialization plays a major role. The urbanization has a major role in the economy of the country. Real Estate can be considered to be a core sector of the country. If you are involved in the Real Estate business or are looking for a property then you should…

Director of a company is the manager and head of the company after the chairperson.  According to Companies Act 2013, the director of a company or who wants to be a director in a company has to obtain the Director Identification Number (DIN). In this blog, we will discuss everything about Director Identification Number (DIN). Table…

Last month the income tax department informed us about the income tax return (ITR) forms for FY 2021-22 or AY 2022-23. Although no key changes are declared, there are still some revisions in the forms that every taxpayer must be aware of while filing ITR. This blog will deal with major changes in ITR forms…

A non-Resident Indian is an individual who is not a resident of India. If we make a survey asking Indians about the tax payment by the NRI. The majority of the people will say that NRI does not pay any kind of tax. This answer seems true because they are doing their work or business abroad…

How to save on tax in a particular year is the most frequent question inside the minds of a taxpayer. But, usually, people make last-minute preparations for meeting the requirement of section 80C or 80 CCD of the Income Tax Act,1961. The answer to such a question is making preplans on saving tax rather than…

TDS (Tax Deducted at Source) is the sum which is taken away from the income of a person by a specified deductor and deposited to the Income Tax department. Section 192 of the Income Tax Act,1961, talks about the deduction of TDS on salary income by employers. In this blog, we will talk about TDS On…

The new rule 18AB of Income Tax Rules applies to all those bodies having approval under sections 80G and 35(1) of the Income Tax Act, 1961. These section allows tax deductions for donors. The filing of a Statement of Donations received during the previous financial year (in Form 10BD) is mandatory by the income tax…

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