The Accounting rate of return (ARR) is one important financial estimate for the Indian business owner to measure the profitability of investments. It determines the expected amount of accounting profit…
Compliance with Section 286(2) Income Tax Act is not mere legal formality – it’s an important requirement for businesses dealing in righteous overseas trade or functioning as subsidiaries of multinational…
The section 244A of Income Tax Act is extremely pertinent for all Indian taxpayers, particularly when it comes to refund purposes. This section is applicable for the interest payable to…
The goodwill in accounting refers to the intangible asset that differentiates a business. These includes reputation, loyal customers, strong brand image, and trusted relationships that are intangible and go beyond…
Every service-based business in India is identified under a certain unique code for GST purpose, known as a Service Accounting Code (SAC). Of these, the 9983 SAC Code covers “Other…
Every business which provides services under the heads corresponding to transport, logistics or passenger services are required to know about the value of HSN Code 9965. This code belongs to…
Every business owner in India for a service-based business has to understand the position of his or her firm in the GST classification system. One of the most popular types…
Knowing about the Income Tax Department information collection process is essential for all the businesses in India. Section 133(6) of Income Tax Act places the authority in the hands of…
Stock management is one of the most challenging issues for the Indian businesses. Whether it’s a store, wholesale goods, or online retail, not all of the items in the inventory…
Accurate recording of an Accounts receivable journal entry is of paramount importance to any business expanding credit to its customers. It indicates the amount of money your clients owe you…
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