MANY OF THE ‘MIDDLCE CLASS’ INDIANS HAVE THE HABIT OF SAVINGS TO MEET THEIR, SUCCESSORS’ FUTURE NEEDS, SINCE WE ARE LIVING UNDER UNSECURE FUTURE CIRCUMSTANCES. THEY WOULD LIKE TO KEEP THEIR SAVINGS IN LIQUID FORM OF CASH, RISK FREE DEPOSITS WITH POSTAL DEPARTMENT, BANKS, FINANCIAL INSITUTIONS SO THAT THEY CAN MEET THEIR NEEDS ON TIME […]
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Tax Audit has to be conducted by all the Assessees (Tax Payers) whose turnover is more than Rs.60 Lakhs (Professional Gross Receipts are more thanRs.15 Lakhs) and any person not covered U/s44AD, 44AE. The Tax Audit Report in Form No. 3CA/3CB along with Form No. 3CD has to be certified by a practicing Chartered […]
Read MoreAll the tax payers has to file their income tax returns before 31st July,2011 (Except those who are covered under Tax Audit i.e., whose Turnover is more than Rs.60.00 Lacs / Professional receipts exceed Rs.15.00 Lacs the due date is 30th September,2011). The y has to file the following Formats of Returns depending upon their […]
Read More1. Applicability: Assessee carrying on any business where Total Sales or Turnover or Gross receipts exceeds Rs.60 lakhs. Assessee carrying on profession where gross receipts exceeds Rs.15 lakhs. Assessee carrying on business referred to u/s 44AD/AE/AF/BB/BBB and declaring lower income than prescribed 2. Audit: The audit shall be conducted by an accountant as explained u/s […]
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