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Golden Rules of Accounting are basic principles that guide the process of recording financial transactions.
There are three Golden Rules of Accounting: Debit what comes in, Credit what goes out; Debit the receiver, Credit the giver; Debit expenses and losses, Credit income and gains.
These rules help maintain the balance in the accounting equation: Assets = Liabilities + Equity.
For example, when a company receives cash f...
I am a detail-oriented financial accountant with 5 years of experience in preparing financial statements and analyzing data.
5 years of experience in financial accounting
Proficient in preparing financial statements
Strong analytical skills
Detail-oriented
Experience in data analysis
I applied via Internshala and was interviewed in Feb 2022. There were 2 interview rounds.
Section 115BAC is a provision in the Income Tax Act that offers individuals the option to choose a lower tax rate by forgoing certain deductions and exemptions.
Section 115BAC was introduced in the Union Budget of 2020 and is applicable from the financial year 2020-21.
Under this section, individuals and Hindu Undivided Families (HUFs) have the choice to be taxed at lower rates if they opt for the new tax regime.
The tax ...
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