Inventory Audit – Importance and procedures What is an Inventory Audit? Inventory audit also referred to as stock audit, refers to an accounting process which takes into account a company’s total stock of physical goods. This is especially needed in manufacturing companies where raw materials need to be converted to finished goods and is a […]
Tag Archives: Income Tax updates
How you can activate your deactivated PAN Procedure to Reactivate Your PAN 1. Once, Permanent Account Number is de-activated by department, income tax e-filing login of assessee also gets blocked 2. To Activate your Permanent Account Number again do following: a. Write an Application to your AO (in duplicate) for activation of your PAN. Following […]
PAN have been deactivated – how to check your PAN is active or not Minister of State for Finance Santosh Kumar Gangwar informed the Rajya Sabha in written reply that as on July 27, 11,44,211 PAN have been identified and deleted or de-activated where multiple PANs were found as allotted to one person. In any […]
New process of refund under the Income tax Act Refund process under the Income tax becomes more stricter than earlier through the amended Section 143 (1) A of the Income Tax Act, The Income tax department is suspecting that most of the taxpayers are getting refunds by declaring the taxable income comparatively lesser than the […]
How to claim tax exemption on HRA without landlord’s PAN I am salaried and get HRA as a part of my salary. Currently, I am staying on rent but my landlord is not providing the PAN. How should I claim HRA as the employer is insisting on it? If you are paying rent of more […]