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Anjali Goyal

Latest Articles


Slump Sale and Related Income Tax Provisions

Income Tax : In the process of integration of the Indian economy with the world economy, a number of companies are going for restructuring to ...

June 23, 2020 147990 Views 9 comments Print

Loans or Deposits under Sec 269SS of Income Tax Act, 1961

Income Tax : No person shall accept any loan or deposit in a single day from another person in any form other than account payee cheque or bank...

June 12, 2020 334574 Views 18 comments Print

Types of Notices under Income Tax Act, 1961

Income Tax : Notice under Section 142(1) - Inquiry before assessment Notice under Section 142(1) is usually served to call upon documents and d...

September 6, 2018 508490 Views 20 comments Print

Whether payment in respect of ‘Swachh Bharat Cess’ shall be available as business expenditure u/s 37 or not ?

Income Tax : What is Swachh Bharat Cess ? It is a Cess which shall be levied and collected in accordance with the provisions of Chapter VI of t...

December 12, 2015 17792 Views 3 comments Print

What is LLP – A Firm or Company or better?

Income Tax : Limited Liability Partnership is a partnership where some or all partners have limited liabilities which may depend on the jurisdi...

August 6, 2015 32619 Views 0 comment Print


Latest Posts in Anjali Goyal

Slump Sale and Related Income Tax Provisions

June 23, 2020 147990 Views 9 comments Print

In the process of integration of the Indian economy with the world economy, a number of companies are going for restructuring to gain benefits from large scale operations and focus upon its core competencies. In the restructuring exercise, certain companies sell off their unprofitable business activities and the business activity as a whole is sold along with assets and liabilities.

Loans or Deposits under Sec 269SS of Income Tax Act, 1961

June 12, 2020 334574 Views 18 comments Print

No person shall accept any loan or deposit in a single day from another person in any form other than account payee cheque or bank draft, if aggregate amount involved is more than Rs 20,000. This provision has come into force to counteract the evasion of tax by mode of acceptance of money in certain cases. The objective is to prevent transactions in currency thereby allowing account payee cheque and bank draft for allowable transactions.

Types of Notices under Income Tax Act, 1961

September 6, 2018 508490 Views 20 comments Print

Notice under Section 142(1) – Inquiry before assessment Notice under Section 142(1) is usually served to call upon documents and details from the tax payers, and to take a particular case under assessment.The basic purpose is to inquire the details of the assessee before making assessment under the Act. It can be related to ‘Preliminary Investigation’ before starting the assessment.

Whether payment in respect of ‘Swachh Bharat Cess’ shall be available as business expenditure u/s 37 or not ?

December 12, 2015 17792 Views 3 comments Print

What is Swachh Bharat Cess ? It is a Cess which shall be levied and collected in accordance with the provisions of Chapter VI of the Finance Act, 2015,called Swachh Bharat Cess, as service tax on all the taxable services at the rate of 0.5% of the value of taxable service.

What is LLP – A Firm or Company or better?

August 6, 2015 32619 Views 0 comment Print

Limited Liability Partnership is a partnership where some or all partners have limited liabilities which may depend on the jurisdiction. It is basically the combination of advantageous features of both partnership and company form of organisation. LLP has introduced in India via Limited Liability Partnership Act, 2008.

A collective understanding of Assessment Procedures

August 6, 2015 2415 Views 1 comment Print

Self Assessment u/s 140A: This simply means that the person is calculating his own tax liability and thereafter filing ITR after payment of self calculated tax. Since assessee himself calculates the tax and income, it is called as self assessment.

Treatment of Business Losses- Carry forward and Set Off

July 3, 2015 19251 Views 0 comment Print

In this article, we will analyse the provisions for ‘set off’ or ‘carry forward and set off’ of losses from the head ‘Profit and Gains from business and profession’. Types of business under the head ‘Profits and Gains from Business and Profession’:-

Clubbing of Income and related provisions- Part II

June 15, 2015 6482 Views 0 comment Print

Anjali Goyal In My Previous Article titled Clubbing of Income and related provisions- Part I I have discussed the meaning of Clubbing, When it is applicable, and some of the provisions related to Clubbing. In this article I have further covered the remaining provisions :-  Analysis of ‘Revocable’ transfer of asset As per the provisions […]

Clubbing of Income and related provisions- Part I

June 9, 2015 7328 Views 0 comment Print

Anjali Goyal What is Clubbing of Income? Clubbing of Income is basically the concept of imposing tax on other person than the actual recipient of the income where other person is the transferor who diverted such income or transferor of the transferred asset out of which income has been generated. When concept of clubbing of […]

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