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HOW DO I SHOW F&O LOSSES IN ITR? “Report F&O losses under ‘Income from Business/Profession’ in ITR, detailing trading losses and related expenses.” In India, derivative trading is on the rise and has significantly increased. In this article, we learn about future and option losses in ITR filling. First, we need to understand that a […]
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The Income from Other Sources where you can calculate income tax, deductions and exemptions. Heads of Income The Income Tax Department breaks down income into five heads of income for the purpose of income tax reporting: Income from Salary Income from House Property is the assesse’s net income from houses, on which facilities are let out on […]
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How to change tax regime from new to old regime In this article we will discuss about that how to change the tax regime from new to old, how many times can you switch between it and more about new and old tax regime. While Form 10IEA must now be completed if you intend to […]
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MONEY SPENT ON CSR BY COMPANIES: CSR FUNDING COMPANIES IN INDIA In this article we will discuss in depth about CSR Funding companies in india. As per the Companies Act, 2013, this is one of the largest experiments in introducing the concept of CSR, which is a progressing concept of socio-economic development, and there are […]
Read More86b gst rule: Restriction on ITC Utilization in Electronic Credit Ledger New rule 86B, vide notification number 94/2020 dated December 22, 2020, has been introduced by the Central Board of Indirect Taxes and Customs (CBIC). Rule 86B is which is effective from 1st January 2021. Applicability of 86B GST Rule GST Rule 86B is attached […]
Read MoreAlternative minimum tax According to this law, which reduces a taxpayer’s regular tax amount by certain tax benefits and significantly for taxpayers. The AMT applies to taxpayers for economic growth in respect of setting a limit on benefits that are received by taxpayers. Which gives surety that taxpayers pay at least a minimum amount of […]
Read MoreRoles and Responsibilities of Company Directors As per section 2(34) of the companies Act, 2013 “Director” means a director appointed to the board of a company. A Director is a person who is appointed to perform his duties and function in accordance with the provisions of companies Act, 2013. A director of the company shall […]
Read MoreSMALL COMPANY COMPLIANCES The MCA in 2022, issued an amended definition of a small company by increasing their threshold limit of paid up share capital and turnover. As per section 2(85) of the companies Act, 2013. The paid-up capital and turnover of the small company shall not exceed Rupees 4 Crores and Rupees 40 Crores, […]
Read Moredifference between private placement and preferential allotment The term private placement is governed by Section 42, “offer or invitation for subscription of securities on private placement,” of the Companies Act, 2013, and private placement shall be made only to a select group of persons who have been identified by the board. The term preferential allotment […]
Read MoreThe difference between ordinary resolution and special resolution and when we need to pass so, mention the list of special resolution or ordinary resolution. When we make a company, then the board of directors of the company has to make decisions at board meetings. All decisions taken by the board of directors have an effect […]
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