Articles by Dilip K Raina

Charitable Institutions: New Rules for Registration

Posted by Dilip K Raina 01 August 2020 2379 Views

Discover changes to charitable institution registration under Section 12AB of the Income Tax Act. Learn about provisional and 5-year registrations.

Unexplained Cash Deposits & Section 269ST: Honest Taxpayers Beware

Posted by Dilip K Raina 19 July 2020 21187 Views

Honest assessees face scrutiny over cash deposits. Understand Section 269ST, bank reporting, and how GST can help reconcile sales. Avoid unnecessary notices.

Appeal Income Tax Assessment Orders to CIT (A)

Posted by Dilip K Raina 16 March 2021 3817 Views

Aggrieved by an income tax assessment order? Learn which orders are appealable before the Commissioner of Income Tax (Appeals) and how to file.

Penalty Under Section 271(1)(C) of the Income Tax Act 2016

Posted by Dilip K Raina 15 March 2021 61706 Views

Penalty Under Section 271(1)(C) of the Income Tax Act 2016

Applicability of Insolvency and Bankruptcy Code, 2016 to charitable Institution in India

Posted by Dilip K Raina 09 October 2019 8015 Views

The legal framework prior to the Insolvency and Bankruptcy Code, 2016 (IBC) was not effective to help timely recovery of defaulted and bad assets resulting not only delayed justice but also caused the undue strain on the Indian credit system.

True and Fair view of accounts - An opinion by Statutory Auditor

Posted by Dilip K Raina 09 March 2020 5247 Views

Lot of investment decisions in the present-day world are based on the reports generated by financial analysists. One of the trusted and important sources of financial information comes from audited published financials.

Taxation of hypothetical Income

Posted by Dilip K Raina 29 February 2020 14572 Views

In simple words Income tax is levied on income which has been received or has accrued. Income is said to be accrued when it becomes due, but it must also be accompanied by corresponding liability of the other party to pay the amount. Only then an income will be said to have accrued and is not a hypothetical income.

Reversal of Input Tax Credit Availed under GST Regime

Posted by Dilip K Raina 22 February 2020 17785 Views

One of the major steps to curb false/fraudulent claims of input tax credit was initiated under Goods and Services Tax regime by introducing a procedure to reverse the amount of input tax credit availed within 180 days in case no or part payment is made to the supplier of goods or services with interest as notified under section 50(1).

Predatory pricing under Income Tax Act

Posted by Dilip K Raina 15 February 2020 8076 Views

The dictionary meaning of the word PREDATORY PRICING: A pricing method of selling certain goods at a lower price than is required, or to give away goods for fre...

Supreme Court on Powers to Arrest under GST Act

Posted by Dilip K Raina 08 February 2020 11496 Views

On April 18,2019 a division bench of the Telangana High Court upheld the authority and power to arrest assigned to designated officers under the Goods ...