The new return filing system shall be introduced on a trial basis from 01.04.2019 and on mandatory basis from 01.07.2019.
What is the IEC Code? Import Export Code (Known as IEC) is an issue by the Director General of Foreign Trade (DGFT) had a 10 digit identification number. It’s required when anyone want to start the import or export business in India. Without this code, no one can start any type of business dealing in […]
The assessing officer has reason to believe that any income chargeable to tax has escaped assessment than the assessing officer may subject to the provision of section 147 to 153 assess or reassess such income. For assessment or reassessment of the income governed under section 147 r w s 148 of the income tax act […]
What is the Assessment Year? The assessment year is the year that follows a financial year in which you assess and pay taxes for the previous year. For example, in AY 2019-20, you would be filing returns and declaring income earned for the FY.2018-19. What is Financial Year? The financial year begins on April 1 […]
The Companies (Amendment) Act, 2017 as well a recent ordinance promulgated on 2nd November 2018