Articles by CA Santhosh Gupta Kethepalli

Section 44AD: Provisions for computing profits and gains of business on presumptive basis

Posted by CA Santhosh Gupta Kethepalli 23 January 2021 17216 Views

Section 44AD covers provisions to reduce tax burden and to provide relief from tedious work to small tax assesses, the government of India has incorporated a scheme of presumptive taxation.

What is E way bill under GST?

Posted by CA Santhosh Gupta Kethepalli 19 January 2021 4071 Views

E Way Bill is Mandatory in a case where the goods are being sent by a Principal located in one state to a Job worker located in any other state, the E Way Bill shall be generated by the principal irrespective of the value of the Consignment.

Special provisions for computing profits from plying, hiring or leasing goods carriage

Posted by CA Santhosh Gupta Kethepalli 12 January 2021 4046 Views

Section 44AE provides for estimating the business income of an owner of goods carriages from the plying, hire or leasing of such goods carriages.

Quarterly Return Monthly Payment under GST

Posted by CA Santhosh Gupta Kethepalli 09 January 2021 3495 Views

In this article, we discuss about the Applicability, Features, Registration Procedure, and Return Filing Procedure etc. of the Quarterly Return and Monthly Payment Scheme.

Blocked Credit Sec.17(5) of CGST Act, 2017

Posted by CA Santhosh Gupta Kethepalli 09 January 2021 7930 Views

Input tax credit is not available in respect of certain inward supply of goods or services as per Section 17(5) of the CGST Act, 2017 this is called blocked ITC.

Composition Scheme: Sec.10 of CGST Act, 2017

Posted by CA Santhosh Gupta Kethepalli 05 January 2021 9957 Views

Composition Scheme is a simple and easy scheme under GST for taxpayers. Small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of turnover.

Statement of Financial Transaction or Reportable Account- Sec 285BA of IT Act

Posted by CA Santhosh Gupta Kethepalli 03 January 2021 7614 Views

Obligation to furnish statement of financial transaction or reportable account {Sec - 285BA, Income-tax Act, 1961

Equalisation Levy in Income Tax Act, 1961

Posted by CA Santhosh Gupta Kethepalli 02 January 2021 9328 Views

Transformation by CBDT from Taxing Business Income to Business Transactions

Measures to discourage Cash Transactions and to promote Digital Economy by CBDT

Posted by CA Santhosh Gupta Kethepalli 29 December 2020 3465 Views

Sections 269SS and 269T which deals with cash payment and repayment of loans and deposits. Both the sections were introduced to curb the black money. Tax evasion is one of the serious problems in India causing economic disparities.