Section 192 deals with the TDS on salary. It mandates every employer to deduct TDS on salary payments in case the salary of the employee exceeds the basic exemption limit. What is TDS on Salary? TDS on salary falls under the purview of Section 192 TDS. Under this tax provision, employers are entitled to deduct tax […]
An inventory write-off is an accounting term for the formal recognition of a portion of a company’s inventory that no longer has value. An inventory write-off can be recorded in two ways. It can be expensed directly to the cost of goods sold (COGS) account or it can offset the inventory asset account in a contra asset account. This
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Monitoring and reporting (1) The Central Information Commission or State Information Commission, as the case may be, shall, as soon as practicable after the end of each year, prepare a report on the implementation of the provisions of this Act during that year and forward a copy thereof to the appropriate Government. (2) Each Ministry
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Fill rate, also called order fulfillment rate, is the percentage of orders that you can ship from your available stock without any lost sales, backorders, or stockouts. It’s a good reflection of your ability to meet customer demand and the overall effectiveness of your ecommerce operations. It also helps you gauge the demand for various SKUs in
Act not to apply to certain organisations (1) Nothing contained in this Act shall apply to the intelligence and security organisations specified in the Second Schedule, being organisations established by the Central Government or any information furnished by such organisations to that Government: Provided that the information pertaining to the allegations of corruption and human rights
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If an individual passes away without leaving a valid Will or any other form of testamentary dispositions such as a trust or a net-worth report for the legal heirs to act on, the succession laws of the land take over the procedure of the succession, this type of succession is referred to as the Intestate
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Bar of jurisdiction of courts No court shall entertain any suit, application or other proceeding in respect of any order made under this Act and no such order shall be called in question otherwise than by way of an appeal under this Act. Practice area’s of B K Goyal & Co LLP Income Tax Return
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The Devnarayan Gurukul Yojana aims to provide educational opportunities to students belonging to economically disadvantaged backgrounds in Rajasthan, specifically those studying in grades 6 to 12. This program targets students from very backward classes whose parents are not income taxpayers. The prestigious schools identified by the Directorate of Secondary Education are eligible for admission under
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Act to have overriding effect The provisions of this Act shall have effect notwithstanding anything inconsistent therewith contained in the Official Secrets Act, 1923 (19 of 1923), and any other law for the time being in force or in any instrument having effect by virtue of any law other than this Act. Practice area’s
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As a part of the demerger splitting ITC Hotels into an individual entity, ITC has allotted 125.11 Crores equity shares of ₹1 each to its shareholders, post a board meeting held on 11th January 2025. Consequently, ITC Hotels now ceases to be a subsidiary of the Company. The long-awaited demerger of Kolkata-based diversified conglomerate ITC’s
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