Daily Archives: September 16, 2015

Loan from Relative of Director of Pvt Company

By | September 16, 2015

As per the notification by MCA, now the Private Companies can accept the loan from Relative of Director TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, [Section 3 sub-section (i)] Government of lndia Ministry of Corporate Affairs Notification New Delhi, dated,15th september 2015 G.S.R. – (E). – In exercise o{ the powers conferred… Read More »

salary income and Income Tax Questions

By | September 16, 2015

Income Tax on salary income ​What is considered as salary income? S​ection 17(1) ​ of the Income-tax Act defines the term ‘salary’. However, not going into the technical definition, generally whatever is received by an employee from an employer in cash, kind or as a facility [perquisite] is considered as salary. ​What are allowances in salary… Read More »

TAN Questions and Answers on Tax Deduction and Collection Account Number

By | September 16, 2015

What is TAN?​ TAN i.e. Tax Deduction and Collection Account Number is a 10 digit alpha numeric number required to be obtained by all persons who are responsible for deducting tax at source or collecting tax at source. It is compulsory to quote TAN in TDS/TCS return (including any e-TDS/TCS return), any TDS/TCS payment challan,… Read More »