Advanced Concepts

Analysis of the new MCA e-form ACTIVE (INC-22A)
The government has recently released the address validation form i.e. e-form ACTIVE (INC-22A) included in the Companies (incorporation) Rules, 2014. ...
Sat, 16 Mar, 2019 at 2:13 PM
Applicability of MSME Form-1 (MCA) for Specified Companies
MSME Form-1 (MCA) is to be filed by those specified companies whose outstanding payment to MSMEs suppliers is exceeding 45 days. Date of Notification: ...
Sat, 16 Mar, 2019 at 2:20 PM
What is an Income Tax Refund?
When the amount of Income Tax paid by the taxpayer is more than the amount of Income Tax payable. Then the amount paid by the taxpayer in excess is known as...
Mon, 11 Mar, 2019 at 6:08 PM
Residential Status
Residential Status of an Individual An Individual is said to be an Indian Resident for the purpose of Income tax if one of the following Basic condition...
Wed, 3 Apr, 2019 at 12:59 PM
Set Off and Carry Forward of Losses
Introduction In India, Income Tax is payable by every person on the total income, earned during the previous year at the rate of tax applicable for assessm...
Thu, 23 Aug, 2018 at 1:12 PM
Minimum Alternate Tax (MAT)
What is Minimum Alternate Tax? Minimum Alternate Tax (MAT) is levied under Income Tax Act. This was introduced to target such companies which book high ...
Thu, 23 Aug, 2018 at 1:13 PM
Alternative Minimum Tax (AMT)
Applicability of AMT MAT is applicable to companies only, whereas AMT is applicable to non-corporate taxpayers. Thus, it can be said that MAT applies to...
Wed, 13 Mar, 2019 at 3:38 PM
Taxation of HUF’s (Hindu Undivided Family)
Introduction   A Hindu undivided family(HUF) is a family which has a common male ancestor and holds joint family assets and that have not been subject to ...
Wed, 13 Mar, 2019 at 1:16 PM
Difference between Depreciation as per Companies act, 2013 and Depreciation as per Income Tax Act, 1961
One country, one finance Minister but there are two method of calculation of depreciation on fixed assets and that is applicable only for companies and not ...
Mon, 6 Aug, 2018 at 10:51 AM
What is Property Tax or Municipal Tax?
Property Tax or Municipal Tax? Property tax is a charge that the owner of land will have to pay every year. However, the property tax amount varies from ...
Thu, 23 Aug, 2018 at 1:25 PM