Difference Between Business Auxilary Services & Business Support Services:

Difference Between Business Auxilary Services & Business Support Services:   Appropriate classification of activities carried out by the service provider is of utmost importance .The effective rate of the service tax varies from one taxable service to another. Thus to determine the correct effective rate of service tax, it is essential and of foremost importance… Read More Difference Between Business Auxilary Services & Business Support Services:

Deductions available to Assessees having income from salaries

The Income Tax Act provides that on determination of the gross total incomeof an assessee after considering income from all the heads, certain deductions therefrom may be allowed. These deductions detailed in chapter VIA of theIncome Tax Act must be distinguished from the exemptions provides in Section 10 of the Act. While the former are to be reduced from… Read More Deductions available to Assessees having income from salaries

FAQ on PPF Account

Can I maintain more than 1 PublicProvident Fund (PPF) account under my name? Only one PPF account can be maintained by an Individual, except an account that is opened on behalf of a minor. What is the eligibility for investing under Public Provident Fund (PPF) Scheme, 1968? A Public Provident Fund (PPF) account can be opened by resident Indian Individuals and individuals on behalf… Read More FAQ on PPF Account