Know Maths in Money Market Operations

Money Market is an important ingredient for growth and development of an economy. India too is no exception for it. With the fastest growing...

Repurchase Options (Repo.) and Ready Forward contracts

These are purchase and repurchase agreements used by money market participants to finance their loans. Such transaction when viewed from the point of view...

Residence in India as per Income Tax Act, 1961

The residential status of an individual is very important as per Income Tax Act, 1961. Provisions relating to residential status is in section ...

Settlement of Tax Cases under Income Tax Act, 1961

We all know that Income Tax Laws are very complex. Often, knowingly or unknowingly there are many lapses in compliances. Income Tax is a...

How to verify cash transaction post demonetisation with Income Tax Authorities

After demonetisation people rushed to deposit their underlying cash. They deposited their scrapped currency notes in their Bank Accounts. Government Agencies haven't yet released...

Restriction on cash transactions under Income tax act, 1961

After the demonetization, Government has earned an important lesson. Keeping the rhetoric aside, it's enlightened to the wisdom of colours in money. Notes of...

Objectives of Accounting Standards

Accounting is a language in itself. It communicates the financial statements of an enterprise. It speaks its financial status. But, as common with any...

Know about TDS for Interest on Securities [Section 193]

Interest on Securities is taxable in India. Further, Section 193 of the Income Tax Act, 1961 provides for Tax Deduction at Source. This section...

How to Register with Income Tax Authorities

To register online with Income Tax Department, you will need your PAN Details. To Proceed with registration, you can follow these steps: Step 1 Go...

Know the TDS rates when you do not provide your PAN

Although in some cases, quoting of PAN for certain type of transaction is must, for most of the transactions quoting of PAN is optional...