Salaried taxpayers with no other income could get a respite from filing tax returns. The income-tax (I-T) department is open to examining a proposal to exempt them from the annual chore. Asked whether the department would think about doing away with income-tax returns for employees, who had no other income apart from salaries in a […]
Salaried taxpayers may be spared filing returns Read More »
As per provisions of Section 80 CCF , an additional deduction of Rs.20000/- can be claimed from Gross Total Income as Deduction in addition to Rs. 100000/- under Section 80C (LIC Premium,School Fees,Housing Loan Repayment , etc.,) On account of the same, the tax savings for an Individual can be to the maximum of Rs.
Long Term Infrastructure Bonds Read More »
The sole proprietorship is the oldest, simplest, and most common form of business entity. It is a business owned by a single individual. For tax and legal liability purpose, the owner and the business are one and the same. The proprietorship is not taxed as separate entity. Note that the earnings of the business are
SOLE PROPRIETORSHIP IN INDIA Read More »
A partnership is a business entity having two or more owners. Earnings are distributed according to the partnership agreement and are treated as personal income for tax purposes. Thus, like the sole proprietorship, the partnership is simply a conduit for directing income to its partners. Partnership has a unique liability situation. Each partner is jointly
PARTNERSHIP FIRM IN INDIA Read More »
This scheme is applicable in respective of Companies which have been registered under the Companies Act,1956 , but due to various reasons could not be operative since incorporation or commenced business but became inoperative later on. These defunct companies have an option of getting their names strike off from the Register of Companies. In
Easy Exit Scheme 2011 Read More »
A private limited company is a voluntary association of not less than two and not more than fifty members, whose liability is limited, the transfer of whose shares is limited to its members and who is not allowed to invite the general public to subscribe to its shares or debentures. Its main features are :-
PRIVATE LIMITED COMPANY IN INDIA Read More »
Comparison between Proprietorship, Partnership & Private Limited Companies
Proprietorship,Partnership & Private Limited Company Comparison Read More »
Hi , We are Posting useful articles in this Blog relating to Income-tax,Corporate Law , VAT,Service Tax,etc.., Visit our Blog regularly to have an update on the above
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