income tax
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What are the Depreciation Rates & Rules of Income Tax Act
According to the Income Tax Act, depreciation is the reduction in an asset's value brought on by use, deterioration, aging, or obsolescence. The Income Tax Act permits an entity's depreciation costs to be subtracted from its taxable income. Since de...
Riya Walke · 25 April · 1
What are the Depreciation Rates & Rules of Income Tax Act
According to the Income Tax Act, depreciation is the reduction in an asset's value brought on by use, deterioration, aging, or obsolescence. The Income Tax Act permits an entity's depreciation costs to be subtracted from its taxable income. Since de...
Riya Walke · 25 April · 1
What You Need to Know About the New Income Tax Rules in India
The introduction of the new tax regime in India for FY 2024-25 brings significant changes to the tax landscape. This blog highlights the key features of the new rules and what they mean for you. Simplified Tax Structure: The new regime aims to simp...
Monika · 16 April · 1
Income Tax Return- What Is and Who Needs to File An ITR?
What is an Income Tax Return An ITR is a document you submit to the tax authorities, disclosing your income for a specific financial year and the taxes you owe or may be eligible for a refund. It essentially helps reconcile your income with the taxe...
WorktoRule Consultants LLP · 02 April · 2
What Are Indian Accounting Standards?
Indian Accounting Standards Indian Accounting Standards (Ind AS) are a set of accounting standards notified by the Ministry of Corporate Affairs (MCA), Government of India, in accordance with the Companies Act, 2013. These standards are largely conv...
Riya Walke · 30 March · 1
Important activities every businessman should complete before 31st March
Important Things to do before financial Year End In India, the financial year is from April 1st to March 31st every year. As a result, the 31st of March is a critical deadline for meeting significant financial obligations. The mercantile system...
Riya Walke · 16 March · 1
Difference Between Old Vs New Tax Regime: Which is Better?
A Guide to Tax Rates in the Old and New Regime The choice between the old tax regime and new tax regimes depends on various factors, including individual financial situations, income levels, and specific deductions or exemptions that a taxpayer can avail. Here are some key differences between the old and new tax regimes, which can help you un...
Riya Walke · 01 March · 1The Impact of Budget 2024, Income Tax, and GST
Budget Analyzing the Impact on Income Tax and GST The government has decided to leave the current rates of direct and indirect taxes unchanged. On February 1, 2024, Finance Minister Nirmala Sitharaman unveiled the Interim Budget 2024, which offers some reforms and relief for businesses and taxpayers under the Goods and Services Tax (GST) regime. A...
Riya Walke · 10 February · 1Advantages & Benefits of Marg Accounting Software
Advanced Tips and Tricks for Marg Accounting Marg Accounting Software has long been a trusted companion for businesses seeking a robust solution for their financial management needs. While the software offers a user-friendly interface for basic accounting tasks, there are numerous advanced features and hidden gems that can significantly...
Riya Walke · 17 January · 1Navigating the Crypto currency Maze: A Guide to Understanding Taxation
Cryptocurrency has become a revolutionary force in the financial world, offering decentralized and borderless transactions. While the allure of digital assets is undeniable, it's essential to grasp the tax implications associated with cryptocurrency transactions. Cryptocurrencies operate on decentralized networks, transcending borders a...
Riya Walke · 05 January · 1How to Register TAN on the Income Tax Portal
Registering a Tax Deduction and Collection Account Number (TAN) on the Income Tax Portal in India is a crucial step for entities responsible for deducting or collecting tax at the source. TAN is a 10-digit alphanumeric code issued by...
Riya Walke · 16 December 2023 · 1
What are the Benefits of Accounting and Taxation course?
Accounting and Taxation courses can offer numerous benefits, both in terms of personal and professional development. Choosing a career in Accounting and Taxation can offer a range of benefits, both personally and professionally. Here are some key advantages: Career Opportunities: Completing an accounting and taxation course can open doors to...
Riya Walke · 11 December 2023 · 1Tax Preparation Hacks: 6 Tips for Small Business to Maximize Savings in 2023
Tax season can be a daunting time for small businesses. Navigating the complex world of tax codes and regulations while striving to maximize savings is a challenging task. However, with the right approach and some strategic planning, small businesses...
Ravneet Kaur · 04 October 2023 · 6
Maximizing Your Refund: Strategies for Optimizing Your Income Tax Returns
When tax season approaches, many individuals, whether employees, self-employed, or business owners, eagerly seek ways to maximize their income tax refunds. Understanding income tax can empower you to utilize deductions, credits, and other strategies...
postquad · 10 June 2023 · 15
How to become filer in Pakistan
In this article, we will discuss How to become filer in Pakistan. The term “filer” refers to a taxpayer whose name appears in the Active Taxpayer List (ATL), which is a directory of taxpayers who have filed their income tax return within the due date set by the Federal Board of Revenue (FBR) on March 1st of each year. For instance, the...
Asad Ali · 11 months ago · 8The payment of the Income Tax of companies and individuals grows 28%
The economic recovery and the tax reform that raised the Income Tax for individuals explain the good performance of the collection in the first half of 2022. The higher collection in the first half of 2022 it was driven by Income Tax (IR), which repr...
wasim tariq · 01 October 2022 · 16