by Sinewave Team | May 25, 2024 | TDS
Annual Information Statement (AIS) is a detailed and comprehensive summary of information for a taxpayer during the relevant financial year. AIS information is based on information reflected in Form 26AS on traces portal. Since AIS is a summary of information based on...
by Sinewave Team | May 22, 2024 | Taxation
Depreciation means reduction in the value of a particular asset due to wear and tear process. Depreciation is calculated by using two methods which are i) SLM i.e. Straight Lime Method or ii) WDV i.e. Written Down Method Income tax allows using of WDV method for...
by Sinewave Team | May 22, 2024 | TDS
Deduction of taxes at source is an important source of revenue for government to have their working capital needs in place. TDS means tax deducted at source, at the time of making payments as mentioned in the provisions of Income Tax Act, 1961. TDS is deducted by the...
by Sinewave Team | May 21, 2024 | Taxation
One of the fears every businessperson has is about incurring bad debts and the claim of such bad debts being disallowed in the books of law. Bad debt represents the financial loss that a business incurs when customers fail to repay credit or outstanding balances....
by Sinewave Team | May 21, 2024 | Taxation
Government of India with the help of CBDT have aimed at ensuring accuracy, transparency and authenticity of financial transactions carried out by different types of persons. Since we live in the age of automation, keeping a track of activities done in the financial...
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