What Is Statutory Audit?
Meaning of a Statutory Audit: Statutory Audit means a type of audit mandated by the law or a statute to make sure that the book of accounts is true and fair which is presented to the public and regulators. A…
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What is Tax Audit under Section 44AB?
What is a tax audit? Tax audit refers to the verification of the books of accounts maintained by a taxpayer. The purpose of a tax Audit is to find an audit of the accounts of the taxpayer. The audit is…
Bihar Startup Policy 2022
Recently, a new scheme has been launched in Bihar with the name of the Bihar Startup Policy 2022. Bihar Startup New Policy Scheme has been started by the Government of Bihar. Under this scheme launched by the government, the young entrepreneurs of…
ITR 2 Form Filing Under Income Tax
What is the ITR 2 Form? ITR-2 form is one the form that must be completed as part of the tax filing procedure. ITR-2 form can be used by an individual or a Hindu Undivided Family (HUF) who is not eligible…
What is the difference between allowance and perquisite?
Definition of Allowance Allowances are fixed amount given by the employer to the employee for carrying out the job responsibilities in an efficient manner. Allowances are the financial benefits that are provided to the employees by the employers over their…
What is the Income Tax Return (ITR) 1 Form?
The Income Tax Department has categorised taxpayers into many groups based on income and its source. The income tax return (ITR) form used by many, if not most, salaried individuals is ITR-1. This ITR form is also known as Sahaj.…
What is Income Tax Updated Return (ITR-U)?
The Income Tax Department announced a new Form ITR-U for filing of Updated Income Tax Returns in Budget 2022. It allows taxpayers to amend their ITRs within two years from the end of the relevant assessment year. The new Form…
Steps to Register Your Startup With Startup India.
In India, startups are getting increasingly popular. The Startup India project aims to create a robust ecosystem that promotes startup growth. The Startup India Scheme is managed by the Department of Industrial Policy and Promotion (DPIIT). Steps to register a…
Make In India Scheme
Make in India Scheme launched by the government in 2014, aims to transform the country into a global design and manufacturing hub. The Prime Minister charmed the global community and national industries with his enthusiastic promotion of his “Make in…
Benefits of Startup India Scheme
The Indian government launched an initiative called the Startup India Scheme in 2016, to encourage the growing culture of startups in our economy. The main objective of the scheme is to promote the startups, generate employment and wealth creation. These…