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Income Computation and Disclosure Standards (ICDS) were issued by the Government of India in exercise of powers conferred to it under section 145(2) of The Income Tax Act, 1961. The Ministry of Finance published 14 draft ICDS, out of which 10 ICDS were notified by the government on 31 March 2015. The government specified a deferment of one year ...
Net Salary of Chief Minister of all states as of 2019 State CM Net Salary per month [b] (including other emoluments and allowances) Telangana ₹ 400,000 (US$4,700) (Including Salary received as MLA/MLC) Delhi ₹ 390,000 (US$4,600) (Including Salary received as MLA) [27] Uttar Pradesh ₹ 365,000 (US$4,300) (Including Salary received as MLA ...
The Income Tax Service was established in 1944 and was subsequently re-constituted as the Indian Revenue Service (Income Tax) in 1953. In 1963, given the increasingly complex roles and responsibilities of administering direct tax in India, the Central Board of Direct Taxes was constituted as a statutory body under the Central Board of Revenue ...
Indian Accounting Standard (abbreviated as Ind_AS) is the accounting standard adopted by companies in India and issued under the supervision of Accounting Standards Board (ASB) which was constituted as a body in the year 1977.
ICAI: Formation: 1 July 1949; 75 years ago () Legal status: Established under the Chartered Accountants Act, 1949 enacted by the Parliament of India: Headquarters: ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi 110002, India: Coordinates
Income tax in India is governed by Entry 82 of the Union List of the Seventh Schedule to the Constitution of India, empowering the central government to tax non-agricultural income; agricultural income is defined in Section 10(1) of the Income-tax Act, 1961. [2]
This is not only in the interest of the Employer and Employee but is also required by law under the Income Tax Act, 1961. The signing authority on Form 16 should be a responsible person of the company or firm; The salary, deductions, and other financial details should be calculated carefully
In India, a Chartered Accountant is a qualified accountant of the Institute of Chartered Accountants of India.Chartered Accountants have knowledge of various subjects like accounting, auditing, corporate laws, costing and various aspects of direct and indirect taxation.