Income tax department uses various methods to cross check data filed by you in your income tax return with bank statements, property records, investment, credit card spending, buying cars and travel details.All high value transactions in India are reported to income tax authorities. Entities like banks, financial institutions, and certain other specified businesses … [Read more...] about How are cash transactions regulated under income tax in India?
What is insider trading in the stock market and why is it illegal?
Insider trading refers to buying and selling of stocks based on information which is not available to the general public and can significantly affect a company's stock price. In other words, it's a trading which takes place based on “insider” information.In order to maintain fair trading practices, government regulatory bodies, monitor and enforce laws against illegal … [Read more...] about What is insider trading in the stock market and why is it illegal?
How to identify a fake GST bill? A challenge for compliance and integrity
Under Goods and Services Tax (GST) law, a bill or invoice is issued by the supplier as documentary evidence to prove that supply of goods and/or services has taken place. GST bills or invoice are used by the receiver to settle claims and file for input tax credit (ITC).A fake GST bill can be raised to falsely claim to comply with GST law. This helps fraudsters to evade … [Read more...] about How to identify a fake GST bill? A challenge for compliance and integrity
What are the benefits of filing income tax returns in India?
As a citizen, filing income tax return (ITR) is not just your legal responsibility, but also your civic responsibility. The Government of India has made it mandatory for certain types of persons to file their income tax return. Filing an income tax return (ITR) offers several benefits, both in terms of compliance and practical advantages. In this article we will … [Read more...] about What are the benefits of filing income tax returns in India?
How microeconomic variables impact the stock prices and return?
Microeconomics focuses on the behavior of individual agents such as consumers, firms, and industries, and how their decisions affect the allocation of resources.In relation to the stock market, microeconomics plays a significant role.Microeconomics helps to study the behavior of individual investors, and firms, as well as the dynamics of supply and demand for … [Read more...] about How microeconomic variables impact the stock prices and return?