Showing posts from 2020

Introduction to Income Tax Act 1961

In India, Income tax is a tax you pay to the government based on your income. The government uses this tax money for vario…

Terminology of Accounting

Accounting is a complex field that uses a specific terminology to describe its concepts and practices. Here are some of the key …

Diffrence between Previous year & Assessment years

Assessment Year [Sec. - 2 (9)] Meaning and Definition  Assessment year refers to a year in which financial year is asse…

Residential Status Under Income Tax Act, 1961

Hindi Income tax Accounting Before calculating taxable income first thing is the need that we should know about the residential…

Definition and type of Persons

Person includes Individual, Hindu Undivided Family (HUF), a Company, a Firm Associations of Person Body of Individual Loc…

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