"I am a Qualified and Practicing Chartered Accountant based in Delhi and having key interest and expertise in Direct taxes; Indirect taxes and Corporate & Economic Laws and I believe my expertise have roots in my internship in a renowned CA firm bagging its place in top 10 firms of India for past few decades."
Major changes have been brought in under the Finance Budget 2023 through insertion of clause (iii) in Explanation 4 to sub-section (1) of section 11 AND clause (iii) in Explanation 2 to the third proviso of clause (23C) of section 10 of the Income Tax Act.
This article focuses on the major changes brought in by the Finance Act 2020 by introducing new section 10AB replacing section 10AA and bringing in similar amendments in section 10(23C) and Section 80G. These provisions pertaining to registration were originally made effective from 01-06-2020. Subsequently, due to the crisis caused by COVID-19, the Central Board […]
This article focuses on the exemptions available to an assessee from capital gain tax under Income Tax Act, 1961. Any profit or gain arising from Transfer of Capital Asset (long term or short term) shall be chargeable under the head capital gain in the year of transfer. However, there are some exemptions on such capital […]
This article focuses on provisions of The Income Tax Act, 1961 and rules made there under relating to Set Off and Carry Forward of Losses. This is a complete guide to set off and carry forward the losses including the set off of losses from business and profession from presumptive income. A. There are two […]
