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Revised Instruction to file Income Tax Returns for FY 2019-20 AY 2020-21

These instructions are guidelines to help the taxpayers for filling the particulars in Income-tax Return for the Assessment Year 2020-21relating to the Financial Year 2019-2020. In case of any doubt, … Read More

Using Business Income Tax Software

It takes so much to build a business and so much more to make it a real success. They say that you have to be really cut for it in … Read More

Cabinet approves MoU signing between ICAI and VRC Netherlands

The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the signing of the Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and the Vereniging van Register controllers … Read More

Now That Tax Season Is Upon Us, Can I Lose My Income Tax Refund in a Bankruptcy Filing?

When someone makes a decision to file bankruptcy, timing is everything. After the new year begins many people have buyer’s remorse from their holiday spending frenzy and decide they need … Read More

Uploading Tax Audit Reports singed by CA? Income Tax Dep shall verify UDIN

CBDT to validate Unique Document Identification Number (UDIN) generated from ICAI portal at the time of upload of Tax Audit Reports The Institute of Chartered Accountants of India, in its … Read More

About Income Taxes; Tidbits

1812 The first attempt to impose an income tax on America occurred during the War of 1812. After more than two years of war, the federal government owed an unbelievable … Read More

Know State wise Rates of Stamp Duty for Formation of Company, MOA and AOA

Stamp duty rules for Form INC-2/ INC-7/ INC-29, MoA, AoA, and SH-7 Amount in Rupees Name      of      state/               union territory INC-2/ INC-7/ INC-29 MoA AoA SH-7 Remarks Delhi (companies having … Read More

Federal Withholding of Income Tax – How Much is Coming Out of Your Wallet?

As an employee, when you are paid, so is Uncle Sam and the state government. If you are lucky enough to live in one of the few states that do … Read More

Know all about Tax exemption when you receive gratuity

Gratuity is a monetary benefit given by the employer to his employee at the time of retirement. It is a defined benefit plan where no contributions are made by the employee.  … Read More

Income Tax Deductions For Estates

They say death and taxes are the only two things you can count on. Unfortunately, dying is taxable. Who would have thunk it? When a loved one passes away, responsibilities … Read More

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