Articles by Vivek Jalan

GST Changes for Hotels & Restaurants: 55th Council Decision

Posted by Vivek Jalan 01 January 2025 1799 Views

Understand the 55th GST Council's decision on hotel & restaurant GST rates. Learn about new rules for declared tariff and value of supply from April 2025.

Section 270A(9): Cite Clauses for Income Misreporting Penalties

Posted by Vivek Jalan 16 December 2024 560 Views

Understand the crucial difference between income underreporting and misreporting under Section 270A. Learn why citing specific clauses is vital for valid penalty proceedings.

Advance Income Tax: Taxable Upon Receipt

Posted by Vivek Jalan 13 December 2024 2147 Views

Discover when advance payments are taxable. Learn how the 'matching principle' and AS-9 apply to income tax, with insights from a key legal case.

Revise ITRs by 31st Dec for Undisclosed Foreign Assets

Posted by Vivek Jalan 11 December 2024 746 Views

Indian residents must declare foreign assets in ITRs. Revise your return by 31st Dec 2024 to avoid penalties. Learn more about Schedule FA & FSI compliance.

Flexible Faceless Assessments: A Call for Change

Posted by Vivek Jalan 07 December 2024 1096 Views

Explore the challenges of faceless tax assessments for large businesses and discover proposed solutions for greater flexibility and improved taxpayer experience.

RBI Reclassification: FPI to FDI Framework Explained

Posted by Vivek Jalan 06 December 2024 276 Views

Understand the RBI's new framework for reclassifying FPI to FDI investments. Learn about limits, approvals, and reporting obligations for investors.

Date of Initiation for Penalty Time Barring

Posted by Vivek Jalan 30 November 2024 267 Views

Understand the 'date of initiation' for penalty proceedings under Section 275 of the Income Tax Act. Learn how it affects time-barring periods for penalty orders.

Section 40A(3): Avoid Disallowance for Excessive Payments

Posted by Vivek Jalan 26 November 2024 232 Views

Learn how to avoid disallowance of excessive payments under Section 40A(3) by proving business expediency and genuine transactions. Get practical advice.

License vs Royalty: Understanding Copyright Transfer

Posted by Vivek Jalan 25 November 2024 238 Views

Discover the key differences between a software license and copyright transfer. Learn what constitutes royalty payments for tax purposes in India.

Income Tax Act Review: TDS/TCS Simplification Suggestions

Posted by Vivek Jalan 22 November 2024 257 Views

Explore suggestions for revamping the Income Tax Act, focusing on simplifying TDS/TCS provisions, reducing rates, and eliminating overlaps. Learn more!