Articles by Shubham Gupta

Reverse Charge Under GST

Posted by Shubham Gupta 21 June 2017 83240 Views

Reverse Charge has always been a mystery box , and with the rise of GST , reverse charge will become a major discussion point and will need time for all the sta...

What is HUF ?

Posted by Shubham Gupta 06 August 2016 12484 Views

The Hindu Succession (Amendment) Act, 2005, has done away with the discriminatory treatment meted out to females in the HUF and conferred on them status on par with sons.

ITR4S : Presumptive taxation

Posted by Shubham Gupta 07 July 2016 11748 Views

ITR-4S is a special case ITR, applicable for businesses where income is calculated on 'presumptive method'. In simple words the presumptive method lets you report your income as 8 per cent of your gross receipt

TDS on sale of property @1% under Section 194IA

Posted by Shubham Gupta 30 June 2016 16567 Views

The prevailing withholding tax is deducted at source, and is 1% of the consideration payable to the seller. It is the responsibility of the buyer to deduct the tax and deposit the same in the government treasury�

What is Tax Deducted at Source?

Posted by Shubham Gupta 18 April 2016 7412 Views

For quick and efficient collection of taxes, the Income-tax Law has incorporated a system of deduction of tax at the point of generation of income. This system is called as �Tax Deducted at Source�, common

Reverse Charge Mechanism under Service Tax

Posted by Shubham Gupta 12 April 2016 35300 Views

This reverse charge mechanism was first introduced from 01-01-2005 on 4 services namely telecommunication service, general insurance business, insurance auxiliary service, Goods Transport Agency services Reve

Trust Registration in India

Posted by Shubham Gupta 08 April 2016 21668 Views

A private trust, created under and governed by the Indian Trusts Act of 1882, aims at managing assigned trust property for private or religious purpose. The law relating to private trusts is governed by the Indian Trusts Ac

Deferred Tax Introduction

Posted by Shubham Gupta 29 March 2016 10672 Views

Deferred tax When we look out for the meaning for "Deferred�" it means to Postpone or delay. Similarly deferred tax is also liability to pay tax in future that we have postponed and have to reflect in our balance sheet.With coming of finan

IND-AS, Indian Accounting Standards

Posted by Shubham Gupta 22 March 2016 32993 Views

Indian Accounting StandardsOBJECTIVE The basic objective of Accounting Standards is to remove variations in the treatment of several accounting aspects and to bring about standardization in presentation. They intent to harmonize the diverse accountin

Scope in Internal Audit

Posted by Shubham Gupta 21 March 2016 22676 Views

Internal AuditAudit technique underlying internal auditing is derived from management consulting and public accounting professions, the theory of internal auditing was conceived primarily by Lawrence Sawyer (1911-2002), often referred to as "the