Cash is the most liquid asset in the world and gives much more flexibility in business and personal transactions due to its acceptance and its ability to be used for transactions with anyone and in any situation. Continue reading “Deep analysis of cash transactions under income tax”

Income tax is normally paid after the end of the financial year, however, if the estimated net tax liability is Rs.10,000 or more during the financial year then the taxpayer should pay tax in the same financial year Continue reading “What is advance tax and how to calculate ?”