Author: Nirmal Ghorawat
-
Why does Financial Statement preparation still move to Excel from ERP?
If you are using TallyPrime or another ERP for accounting, ask yourself: The books are in TallyPrime / ERP.The Trial Balance is in TallyPrime / ERP.So why does Financial Statement…
-
Income Tax Query 12: Set-off Unutilised Basic Exemption Limit against Capital Gains (Taxable at Special Rates)
Scenario Mr/s A. B. is an Individual having Income from Capital Gains on Equity / Equity Mutual Funds / Debt Mutual Funds as well as Interest / Dividend included under…
-
Transaction Cards Module in TallyPrime – Simplify TDS Compliance
A Walkthrough video / Demo of the TDL is available at https://youtu.be/zrBEYlYDI9E
-
Income Tax Query 11: Income Tax in case of Reconstitution of Firm ~ Section 9B & 45(4) of the Income Tax Act, 1961
Scenario M/s A. B. & Co is a Partnership Firm assessed to Income Tax for the last many assessment years. Case (1) The Partnership Firm is Dissolved. Case (2) The…
-
Income Tax Query 10 : What is Form 10BD of Income Tax act and its applicability?
🔹Key Points About Form 10BD Purpose:It serves as an annual statement of donations, containing details such as: Donor’s particulars (Name, PAN/Aadhaar, Address). Donation details (Amount, Mode of Donation). Applicability: Mandatory…
-
Income Tax Query 9: Gross Receipts in ITR is less than as per TDS Claimed in ITR / Form 26AS due to Deductor following Cash System & Assessee following Mercantile System.
Scenario:: In many cases, there is a difference in Accounting Method – Mercantile (or Accrual) or Cash System followed by the Deductor and Assessee (Deductee). In such a Scenario, the…
-
Income Tax Query 8: Remuneration Clause in Partnership / LLP Deed.
Scenario M/s A. B. & Co is a Partnership Firm. Query Whether the Partnership Deed must specify the individual partners designated as Working Partners? Whether the Partnership Deed can merely…
