Income Tax Saving Income Tax Saving,To avail tax deduction under Section 80GGC of the Income Tax Act for donations made to registered political parties in India, you can follow these steps: Identify the registered political party: Ensure that the donation is made to a political party that is register with the Election Commission of India.… Read More »
Introduction Taxpayers in India often seek ways to reduce their taxable income through various exemptions and deductions provided under the Income Tax Act. One such provision is Section 80TTA, which offers tax benefits on interest income earned from savings accounts. This article provides an in-depth explanation of the 80TTA exemption, covering its definition, benefits, usage,… Read More »
Elements of Bookkeeping Website Link Elements of bookkeeping system: It also known as the double-entry accounting system, is a method of documenting financial transactions that involves recording each transaction in two separate accounts. The system consists of four elements: Assets: Assets are resources owned or controlled by a business that hold monetary value. Examples include cash,… Read More »
