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Articles by CA Santhosh Gupta Kethepalli

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Quarterly Return Monthly Payment under GST

  CA Santhosh Gupta Kethepalli    08 January 2021 at 17:39

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

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Posted in GST |   2091 Views


Amendments made by Finance Act 2020 relating to Trusts

  CA Santhosh Gupta Kethepalli    24 November 2020 at 15:12

Finance Act, 2020 has made changes with respect to the provisions related to Trusts and NGOs claiming exemption u/s 11 or u/s 12 of the Income Tax Act, 1961. Let us understand those changes.

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Posted in Income Tax |   3726 Views


All about Goods Sent on Consignment - Accounting, Commission, and Account Sales

  CA Santhosh Gupta Kethepalli    31 October 2020 at 17:42

Know all about Goods Sent on Consignment, its Accounting, different types of Commission and Account Sales.

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Posted in Accounts |   36606 Views


Section 80JJAA: Deduction in respect of employment of new employees

  CA Santhosh Gupta Kethepalli    14 October 2020 at 10:43

In order to promote Employee generation, deduction under this section is given to all Assesses, whose books of accounts are required to get audited u/s.44AB. Know more about the section here.

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Posted in Income Tax  15 comments |   14778 Views


Section 80D - Deduction in respect of Medical Insurance Premium under IT Act

  CA Santhosh Gupta Kethepalli    05 October 2020 at 14:45

In the present scenario, due to the arise of Covid-19, many people are purchasing Health Insurance policies. Premiums paid on such policies are eligible for deduction u/s 80D of Income Tax Act. Let us discuss the deduction.

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Posted in Income Tax  8 comments |   15105 Views


TCS u/s 206C (1H) - A beginners guide!

  CA Santhosh Gupta Kethepalli    30 September 2020 at 15:49

TCS u/s 206C (1H) will be applicable w.e.f 1st October 2020. Understand the provisions of the section here.

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Posted in Income Tax  2 comments |   19680 Views


Cases where Income of a Previous Year will be assessed in the Previous Year Itself under Income Tax Act

  CA Santhosh Gupta Kethepalli    28 September 2020 at 17:46

The income of a previous year is assessed in the assessment year following the previous year. However, there are certain exceptions to this rule. Let us understand those.

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Posted in Income Tax |   3405 Views


Taxability of Gifts: Sec 56(2)(X) of IT Act, 1961

  CA Santhosh Gupta Kethepalli    21 September 2020 at 09:41

To prevent the practice of receiving a sum of money or the property without consideration or for inadequate consideration, section 56(2)(x) brings to tax any sum of money or the value of any property received by any person without consideration or the value of any property received for inadequate consideration.

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Posted in Income Tax  4 comments |   8619 Views


Credit & Debit Notes: Section 34 of CGST Act 2017

  CA Santhosh Gupta Kethepalli    15 September 2020 at 09:06

Any registered person who issues a credit note in relation to a supply of goods or services or both shall declare the details of such credit note in the return for the month during which such credit note has been issued

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Posted in GST |   13959 Views


Claiming Input Tax Credit under GST Regime

  CA Santhosh Gupta Kethepalli    07 September 2020 at 10:40

ITC means reducing the taxes paid on inputs from taxes to be paid on output. When any supply of services or goods is supplied to a taxable person, the GST charged is known as Input Tax.

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Posted in GST |   9171 Views