Taxation of Gifts

Everyone loves to receive gifts from their near and dear ones. However, income tax act has some key points to mention for people about to receive gifts. There are certain gifts on which tax is applicable and some gifts on…
Everyone loves to receive gifts from their near and dear ones. However, income tax act has some key points to mention for people about to receive gifts. There are certain gifts on which tax is applicable and some gifts on…
A tax audit involves an expression of the tax auditor’s opinion on the truth and correctness of certain factual details, furnished by the assessee to the Income Tax Authorities. This is done to ascertain the correctness of details of income…
Accounting is the most critical aspect of the financial activities. A proper accounting system ensures the smooth functioning of the organization. Accounting activities are subject to the accounting standards mentioned by accounting authorities or government bodies. Similarly, in India, Income…