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Articles by CA Piyush Agarwal

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Section 80EEB of Income Tax Act: Interest on Electric Vehicle

  CA Piyush Agarwal    22 November 2021 at 09:42

A new section 80EEB of Income Tax Act, 1961 has been introduced allowing a deduction for interest paid on loan taken for the purchase of electric vehicles from the AY 2020-21.

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Posted in Income Tax  5 comments |   8862 Views


TDS u/s 194Q on purchase of goods

  CA Piyush Agarwal    26 February 2021 at 10:01

Discussing Section 194Q (TDS on payment of a certain sum for purchase of Goods) of the Income Tax Act, which has been introduced by the Finance Minister in Union Budget 2021.

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Posted in Income Tax |   4515 Views


Sec-194O: TDS on Payments made to E-Commerce Participants

  CA Piyush Agarwal    13 October 2020 at 10:04

According to Section 194O, an e-Commerce operator is required to deduct TDS for facilitating any sale of goods or providing services through an e-Commerce participant. Know more about the section here.

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Posted in Income Tax  7 comments |   6675 Views


Measures taken in GST Audit while finalizing Books of accounts & preparation of Balance sheet

  CA Piyush Agarwal    22 June 2020 at 10:07

It becomes important to understand the legal provisions under GST law while finalizing books of accounts and preparation of Balance Sheet.

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Posted in GST  3 comments |   3414 Views


Section 194N - TDS on Cash withdrawal over and above Rs. 1 crore

  CA Piyush Agarwal    11 February 2020 at 10:18

Section 194N - TDS on Cash withdrawal over and above Rs. 1 crore

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Posted in Income Tax  10 comments |   19749 Views


Section 194M - TDS on payment to resident contractors and professionals

  CA Piyush Agarwal    28 January 2020 at 10:38

Reason for introduction of Section 194M This section was introduced for the purpose to cover some specified high value transactions in personal nature under TDS which was previously excluded from TDS provisions.

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Posted in Income Tax  31 comments |   52161 Views


Clarification on Insertion of new section 269SU - Digital Payment Facility

  CA Piyush Agarwal    13 January 2020 at 11:01

The CBDT in its latest notification introduced Sec 269SU under the Income Tax Act, 1961. The section is applicable to all companies or business entities with a business volume of Rs. 50 crore or more annually. Such entities must provide facilities and accept payments through digital transactions u/s 269SU. Non-compliance of this regulation shall lead to a fine of Rs. 5,000 per day.

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Posted in Income Tax  28 comments |   21426 Views


Section 269ST- Treatment of Cash Transactions above Rs. 2 Lakhs

  CA Piyush Agarwal    06 January 2020 at 11:06

You can repay your loan amount to any HFC (Housing finance company) or NBFC (Non-banking finance company) in cash provided each loan installment is less than Rs 2 lakhs.

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Posted in Income Tax  9 comments |   21876 Views




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