Income Statement

What does it mean?    An income statement represents the financial results for a financial body for a specific time period. It may be quarterly, monthly, or annual. It reflects the net profit and loss of organizations and their performance which can help in managing their market value.  Points to remember These statements help businesses […]

Income Tax Return

What is Income Tax Return (ITR)? Income tax return is a statement declaring an entity’s net tax liability, claims of tax deductions and the gross taxable income. All individuals or companies, who earn a certain amount of money or more are required by law to file income tax returns. Points to remember A tax return […]