Dave parth's blog

Ø   INTRODUCTION: There is substantive increase in small businesses with the growth of transport and communication and the general growth of the economy. To smooth the procedures and taxation aspects for such small industries a new aspect called Presumptive Taxation came in to force under income tax act. Presumptive taxation under income tax act, 1961 means a   form   of assessing tax   liability   using indirect method/presumptive method or on assumption basis.   The term "presumptive" is used to indicate that there is a legal presumption that the taxpayer's income is no less than the amount resulting from application of the indirect method. It is the taxation based on ‘average income’ instead of actual income which differs from usual rules based income. Presumptive methods of taxation are thought to be effective in reducing tax avoidance as well as equalizing the   distribution   of the   tax burden .     ...

·        Introduction A student who willing to become chartered accountant of India, have to do articleship under the name of any practicing chartered accountant of India for the period of three years immediate after passing IPCC.  Articleship means a training program where student can learn practical aspect of the chartered accountancy course. Student can learn what work to do? And how it gets done? After becoming chartered accountant. A student also get stipend for the period of articleship. Stipend means a specified amount of Rs. (Monthly) paid to the student as per specified by ICAI [The institute of chartered accountant of India]. Which differ with the capacity and willingness of the chartered accountants. Articleship is great part of this course but near about 70-80 percentage student of the said course called it “JAIL”. Surprising, why they call this? Let’s try to find answer….. ·        In Brief: I w...