Consolidated FAQs on Usage/ Login at V3 MCA Portal (New LLP Application)
MCA has issued a consolidated/ updated set of Frequently Asked Questions (FAQs) in relation to usage and login of new application (v3) of the MCA Portal for e-filing by …
ICAI’s Implementation Guide on Rule 11(e) & 11(f) of the Companies (Audit and Auditors) Amendment Rules, 2021
ICAI has released an ‘Implementation Guide on Rule 11(e) & 11(f) of the Companies (Audit and Auditors) Amendment Rules, 2021’, which has been notified by MCA vide Notification dt. …
New IT Rule 12AB: Additional Conditions for Mandatory filing of Tax Return (ITR) u/s 139(1)
CBDT notifies new IT Rule 12AB relating to additional conditions for mandatory filing of tax return (ITR), by persons referred to in section 139(1)(b).
RBI’s Revised Guidelines for Opening of Current/ CC/ OD Accounts by Banks
RBI has issued consolidated/ revised guidelines and instructions for scheduled commercial banks and payment banks, regarding opening of Current Accounts and Cash Credit/ Overdraft (CC/ OD) Accounts in various …
Various terms defined u/s 2 of the Income Tax Act, 1961
Meaning/ Definition of various terms as per Section 2 of the Income Tax act, 1961: Definitions under Income Tax Act 1961 Section 2(1): Advance Tax Section 2(1A): Agricultural Income …
Section 2 Income Tax: Definitions of Income Tax Officers/ Commissioners/ Directors/ CBDT
Definitions of various ranks of Income Tax Officials, like Income Tax Officers/ Commissioners/ Directors, including of the governing body (CBDT) and Appellate Authorities, as per Section 2 of Income …
Section 2(2) of Income Tax: Definition of ‘Annual Value’
As per Section 2(2) of the Income Tax Act, 1961, unless the context otherwise requires, the term “Annual Value” has the following Meaning/ Definition: Section 2(2) of the Income Tax …
Section 2(1) of Income Tax: Definition of ‘Advance Tax’
As per Section 2(1) of the Income Tax Act, 1961, unless the context otherwise requires, the term “Advance Tax” has the following Meaning/ Definition: Section 2(1) of the Income Tax …
Section 2(10) of Income Tax: Definition of ‘Average Rate of Income-tax’
As per Section 2(10) of the Income Tax Act, 1961, unless the context otherwise requires, the term “Average Rate of Income-tax” has the following Meaning/ Definition: Section 2(10) of the …
Meaning of ‘Assessment Year’ / ‘Previous Year’: Sec. 2(9)/ 2(34) Income Tax:
For better understanding of the concept of Previous Year & Financial Year vis-a-vis Assessment Year in the case of a layman, the terms ‘Assessment Year’ and ‘Previous Year’ have …