Can HUF Claim 80C Deduction In India, the Income Tax Act provides various avenues for taxpayers to claim deductions and reduce their taxable income. One of the most popular sections under which deductions are claimed is Section 80C. This section allows individuals and Hindu Undivided Families (HUFs) to claim deductions for investments and expenses, up… Read More »
Difference Between Money and Fund Difference between money and fund: It refers to the physical currency and coins that are use to make purchases or exchange goods and services. On the other hand, a fund refers to a pool of cash that is collect from multiple investors and manage by an investment company or… Read More »
Relationship between QA and CA Quick assets are those current assets that can be easily converted into cash, such as cash, marketable securities, and accounts receivables. Current liabilities, on the other hand, are those obligations that are due within one year. Such as accounts payable, short-term loans, and accrued expenses. The relationship between quick assets… Read More »
Is Book Value the Same as Net Asset Value? When it comes to assessing the value of a company or an investment, financial terms like book value and net asset value (NAV) often come into play. While these terms may sound interchangeable, they serve different purposes and are used in various contexts within finance. Let’s… Read More »
Difference between Tax planning and Tax management Understanding the Distinctions: Tax Planning vs. Tax Management When it comes to managing finances, particularly in the realm of taxation, two terms often come up: tax planning and tax management. While they might seem similar at first glance, they serve different purposes and are crucial in their… Read More »
Tax Planning: Tax planning involves proactive strategies and actions taken throughout the year to minimize tax liability and optimize financial outcomes. It focuses on analyzing the taxpayer’s financial situation, exploring tax-saving opportunities, and implementing strategies to legally reduce taxes. Tax planning aims to strategically manage financial affairs, take advantage of applicable tax laws and provisions,… Read More »
Tax planning vs tax compliance Tax planning vs tax compliance, Here’s a comparison between tax planning and tax compliance: Taxation Planning: Tax planning involves strategic decision-making and the implementation… Read More »
Can I Pre-Close an NPS (National Pension System) Account Can I pre-close an NPS (National Pension System) account: The National Pension System (NPS) is a long-term retirement savings scheme, designed to provide individuals with financial security post-retirement. While the primary aim is to hold the NPS account until the age of retirement, pre-closure of an… Read More »
Are GST Trusts Revocable Goods and Services Tax (GST) is an indirect tax levied on the supply of goods and services in many countries, including India. However, when we talk about GST trusts in a legal context, it generally refers to trusts managing funds related to GST compliance, payments, or any related activities. The… Read More »
