The share of the partner (including a minor admitted for the benefit of the firm), in the income of the firm is not included in computing his total income i.e. his share in the total income of the firm shall be exempt from tax [section 10(2A) of the Act]. If conditions of section 184 and […]
Taxation of Partnerships: Assessment of Partners of a Firm Read More »
Who has to obtain PAN? PAN is to be obtained by following persons: • Every person if his total income or the total income of any other person in respect of which he is assessable during the previous year exceeds; • In the case of Basic Exemption Limit • IndividualRs. 2,50,000.00 • Resident Individuals of the
Income Tax: FAQ PAN Read More »
Is it mandatory for a trust to file return of income? It is mandatory for a trust referred to in Sections 139(4A), 139(4C), 139(4D) and 139(4E) to file the return of income. Further, a trust (not covered in above provision) is required to file return of income if its gross total income exceeds the maximum
Is it mandatory for a trust to file return of income? Read More »
Rental Agreement: Before proceeding to draft a Rental agreement, It is advisable to have the details of the tenant with proof of identity and his permanent address etc. The lease/rental deed for the tenancy up to a period of 11 months need not be registered. If the period of of tenancy is more than 11
Draft deed: Rental agreement Read More »
Board Resolution (Suggested format) (To be printed on organization letter head) CERTIFIED TRUE COPY OF THE RESOLUTION PASSED AT THE MEETING OF THE BOARD OF DIRECTORS OF (Company Name) ___________________________________ HELD ON (Date) _______________ AT (Address) ______________________________________________________________________ RESOLVED THAT the company has decided to authorize, Mr. / Ms. _____________________________ ___________________ and is hereby authorized to
Board Resolution (Suggested format) Read More »
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