The provision for income taxes on an income statement is the amount of income taxes a company estimates it will pay in a ...
This is a two-part series on end-of-year accounting cleanup for farmers. See part one here.
Learn how interest from savings accounts, including HYSAs and CDs, is taxed. Understand reporting requirements and strategies ...
Many everyday savings account transactions can attract Income Tax Department scrutiny. Large cash deposits, credit card ...
Brex reports effective expense account management is vital for tracking business spending, ensuring compliance, and ...
Statements recorded during survey have no evidentiary value unless corroborated by material evidence
The ITAT Kolkata deleted the Section 68 addition of Rs.1.67 crore, holding that loans proven to be repaid through banking channels with TDS deducted on interest cannot be treated as bogus ...
Your regular bank transactions like cash deposits, withdrawals, property payments or credit card bills may be under the ...
Filing is mandatory for all companies and firms (including LLPs), regardless of whether they made a profit or incurred a loss ...
Your savings account might not be as private as you think. Certain transactions can draw the tax department’s attention and ...
The ITAT Delhi upheld the deletion of a Rs.1.83 crore addition for alleged bogus loans, ruling that uncorroborated WhatsApp chats and retracted search statements cannot override documentary evidence.
Investors should closely scrutinize the quality of financial statements as net income can sometimes be manipulated through questionable accounting practices. For individuals, net income is the amount ...
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