Section 80TTA Section 80TTA provides a deduction of Rs.10000 on interest earned by an individual on his or her savings accounts income. Who is eligible for Income Tax Deduction under Section [...]
What is Income Tax Act? Income Tax Act was enacted in the year 1961 and is the statue under which everything related to taxation is listed. It includes recovery of income tax, levy [...]
Letter Of Intimation Under Section 143 (1) Intimation under section 143 (1) is a notice sent to taxpayers containing the amount of tax payable along with interest issued. When you pay income tax [...]
ICAI – Institute of Chartered Accountants of India Introduction Established on 1st July 1949 under the Chartered Accountants Act 1949, ICAI is the national professional accounting body of India and [...]
Who is a Legal Heir? Cambridge dictionary defines an heir as an individual who receives or inherits either an interest or an ownership of immovable property from a person who has died intestate [...]
New Income Tax Slab and Rate - Key Highlights Interim budget 2019 proposed no modifications in the tax slabs. Under section (u/s) 87A, individuals with earnings up to Rs. 5.0 lacs will [...]
Introduction to Professional Tax Professional tax is a tax imposed, by several states in India, on salaried professionals, working in non-government or government entities. Salaried professionals [...]
What is Remittance Advice? Remittance advice is a letter issued by the customer to the supplier in order to inform the supplier that their invoice has been paid. It is not mandatory to send [...]
What is Police Clearance Certificate? A Police Clearance Certificate, most commonly known as PCC, is an important official document issued by the police or the authorized government agencies and is [...]
What is Petrol Pump License? Petrol Pump is considered one of the best business ventures and also as one of the most profitable business in India, however to start the petrol pump venture is not as [...]
