"Khurana Himanshu & Associates was founded as a multidisciplinary tax advisory and auditing firm. With the changing industry scenario and role of CA’s in the growing economy, our firm has been contributing to avenues of Management Consultancy, Business Development & Support, Corporate Taxation and Corporate Advisory Services etc. The firm has team of qualified affiliates/ consultants who have experience in various industries like Agriculture Industry, Renewable Power Industry, Real Estate Industry, Investment Industry, Logistics, Banking Industry, Consumer Goods Manufacturing and Power Sector. Our philosophy is to excel in each area of professional service spectrum, beyond the traditional approach of accountants. The objective is to innovate and engineer out of the box solutions with a view to provide value enhancement for our clients. In our firm the mutual objective and intent is quality of service. "
Microsoft Excel is extensively used across the globe to store and analyze. Despite various new data analytics tools in the market, Excel remains the go-to product for working with data. It has numerous in-built features, which makes it easier for you to organize your data. In this article, we’ll be discussing the various Excel shortcuts. […]
Learn about the income tax return filing process for the assessment year 2022-23. Understand the slab rates and due dates, as well as the relevant ITR forms.
1. WHAT IS SECTION 54? As we all know that on selling or transferring a capital asset like property, capital gains arise which are taxable in the hands of the assessee/ taxpayer. Under Section 54 of the Income Tax Act, an individual or HUF selling a residential house property can claim exemption from such capital […]
Section 10(13a) House Rent Allownace (HRA) Meaning, Exemption, Calculation & Recent Judgements 1. Meaning of House Rent Allowance: – House Rent Allowance (HRA) is an allowance paid by an employer to its employees for covering their house rent. Such allowance is taxable in the hand of the employee. The Exemption on HRA is covered under […]
Assessment Of Income-Meaning And Scope/Procedure/Time Limit of Assessment Under Section 143(1)- Processing of Returns RETURN OF INCOME: – The Income-Tax Act, 1961 contains the provisions for filling of Return of Income. Return of Income is the format in which the assessee furnishes information as to his total income and tax payable. In short, it is the declaration […]
Tax Deduction at Source on transfer of certain immovable properties (other than agricultural land) [Section 194-IA] Analysis of Section 194-IA20 1. Person liable to deduct TDS u/s 194-IA Any person (transferee), other than the person referred to in section 194LA, responsible for paying to a resident transferor any sum by way of consideration for transfer […]
Due to the increase in the frequency and volume of transactions of Virtual Digital Assets, for the First Time, the provision for the taxation of virtual digital assets is introduced in Budget 2022, bringing Cryptocurrencies & Non-Fungible Tokens (NFTs) under a tax net.
New Provision Section 139(8A) for Updating ITR as per Budget 2022 applicable from AY 22-23 Intention behind introducing Sec 139(8A) In order to provide more time to tax payers, it is proposed to introduce a new provision in section 139(8A) of the Act for filing an Updated Return of income by any person, whether he […]
Section 80GGB & Section 80GGC: – Deduction in respect of contributions given to political parties. Bare Act Section 80GGB – Contribution done by an Indian Company – Political Contribution In computing the total income of an assessee, being an Indian company, there shall be deducted any sum contributed by it, in the previous year to […]
