Accounting, also known as bookkeeping, is the process of recording, summarizing, analyzing, and reporting financial transactions of a business or organization.
Gst (Goods and Services Tax) is a value-added tax that is levied on the supply of goods and services in India. It is a comprehensive indirect tax that replaced various indirect taxes such as excise duty, VAT, and service tax.
Income tax is a tax levied by the government on the income of individuals and businesses. Every year, individuals and businesses are required to file their income tax returns with the Income Tax Department to report their income and calculate their tax liability.
Audit and assurance are two related but distinct areas of accounting.
A PAN (Permanent Account Number) card is a 10-digit alphanumeric code that is issued by the Income Tax Department to individuals, firms, and companies.
TDS filing refers to the process of filing Tax Deducted at Source (TDS) returns with the Income Tax Department of India.
Firm registration refers to the process of legally establishing a business entity as a partnership firm.
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Business is that activity where a person earns his living by making a profit out of production or trading. The term trading is used when a person buys and sells any goods or services and earns a profit out of the activity. A business may be simply defined as an activity done for profit. However, the profit, which is excess of income over expenditure, needs to come in by dealing in goods or services, which are legally permissible.
A business may be conducted by an individual in the capacity of a proprietor, a partnership firm, or a joint-stock company. The nature of the business or its scale of operations normally decides the category of business house conducting that business.
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