"Mr. Aditya is a versatile and seasoned professional with cross functional expertise in the fields of Income Tax, GST, Accounts, Finance & Audit. Due to strong interest in practice, he left the job of Vice-President (Accounts & Taxation) of a finance company and practicing as a Tax & Corporate lawyer. "
Explore the intricate provisions of GST related to the transfer of tax liability in situations where direct collection from the taxpayer is challenging. Understand the rules from business transfers to cases of death, insolvency, and more. Stay informed to ensure compliance and avoid potential litigations.
In order to determine the tax liability under GST, it is important to know the date when the tax liability arises i.e., the date on which the charging event has occurred. In GST law, it is known as Time of Supply. GST law provides separate provisions to determine the time of supply of goods and time of supply of services under Sections 12, 13 & 14 of the CGST Act 2017.
Understand the GST Composition Scheme, its advantages, drawbacks, eligibility criteria, and tax implications for small businesses. Your one-stop guide to simplified GST compliance.
Dive into the intricacies of Composite Supply and Mixed Supply under GST as per Section 8 of the CGST Act, 2017. Uncover the distinctions between these concepts, exploring scenarios where goods and services are naturally bundled. Understand the tax rates applicable to Composite and Mixed supplies, distinguishing the primary supply and item of highest GST rate. Gain clarity with real-world examples, from booking train tickets to renting houses for dual purposes. Equip yourself with insights to navigate GST complexities effectively.
Explore the scope of supply under GST as per Section 7 of CGST Act, its exceptions, inclusions, exclusions, and Schedules-I, II, and III analysis.
Understand GST on renting residential dwellings: Taxability for residential or commercial purposes, reverse charge mechanism, IGST/CGST/SGST applicability, TDS, exemptions, and recent updates. Learn how the use of the property determines GST on rent and rental income. Stay informed about the latest changes effective from July 18, 2022.
Detailed insights into Section 89 of the Income Tax Act 1961, which offers tax relief on arrears or advance salary, pension, or compensation. Learn about eligibility, conditions, and more.
In this article, we will discuss about the Income Tax provisions relating to both Short-term capital gain (STCG) and Long-term capital gain (LTCG) arising from sale/transfer of securities.
Explore the Presumptive Taxation Scheme under Sections 44ADA and 44AE of the Income Tax Act 1961. Learn how individuals and partnership firms in specified professions can declare income at a prescribed rate, simplifying tax compliance. Understand the eligibility criteria, computation methods, ITR form usage, and the benefits of adopting these schemes for small business owners and professionals.
Understand the income tax provisions on the taxability of capital gains from the sale of land. Explore the types of capital gains, calculation methods, tax rates, and deductions available under sections 54F and 54EC. Learn how to optimize tax liabilities and make informed decisions when dealing with the sale of land.
