Long-Term Capital Assets (LTCA) are subject to special tax rates. Immovable assets like land and buildings attract a tax rate of 20%, which includes indexation. Yes, NRI is eligible to claim exemption u/s 54EC of the Income Tax Act, provided that the land or building...
It helps businesses identify overdue accounts and assess the effectiveness of their collections process. Furthermore, accounts receivable are current assets, meaning that the account balance is due from the debtor in one year or less. If a company has receivables,...
You can reduce the reconciliation process to minutes using automation software. This would require aggregating data from the bank, QBO, or other tools, extracting relevant data from them, matching data across different sources, and performing fraud checks. If you want...
It helps businesses identify overdue accounts and assess the effectiveness of their collections process. Furthermore, accounts receivable are current assets, meaning that the account balance is due from the debtor in one year or less. If a company has receivables,...
If you’re not careful, your business checking account could be subject to overdraft fees. When you do a bank reconciliation, you first find the bank transactions that are responsible for your books and your bank account being out of sync. There could be transactions...
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