Articles by Ritik Chopra

Period of Holding: Calculate Capital Gains Accurately

Posted by Ritik Chopra 02 September 2021 8271 Views

Understand how to calculate the period of holding for capital assets. Learn rules for short-term vs. long-term gains and special cases.

Section 44AA: Account Keeping for Businesses & Professions

Posted by Ritik Chopra 18 August 2021 10583 Views

Understand Section 44AA's rules for maintaining accounts for businesses and professions. Discover thresholds and requirements for tax compliance.

Deemed Profits Explained: Section 41 Income Tax

Posted by Ritik Chopra 18 August 2021 37583 Views

Understand Section 41: Deemed Profits. Learn about deductions recovered, balancing charges, bad debts, and special reserves. Get tax clarity now.

Telecommunication License Expenditure: Deductions & Tax Rules

Posted by Ritik Chopra 18 August 2021 7301 Views

Understand deductions for telecommunication license expenditure under Section 35ABB. Learn about capital expenditure, transfer rules, and tax implications.

Section 37: Business Deductions Under Income Tax Act

Posted by Ritik Chopra 11 August 2021 27411 Views

Understand Section 37 of the Income Tax Act for business expense deductions. Learn what qualifies and how to claim allowances for your business.

Profits & Gains: Key Taxable Income Points

Posted by Ritik Chopra 06 August 2021 10456 Views

Understand how to compute taxable income under 'Profits and Gains of Business or Profession'. Learn key points for accurate tax calculations.

Other Deductions Under Income Tax Act: Section 36 Explained

Posted by Ritik Chopra 03 August 2021 6209 Views

Explore Section 36 of the Income Tax Act for business deductions. Learn about insurance premiums, bonuses, interest, and more. Claim your eligible expenses!

Cash Payment Exceptions to Income Tax Act Section 40A(3)

Posted by Ritik Chopra 21 July 2021 11369 Views

Discover exceptions to Section 40A(3) of the Income Tax Act for cash payments. Learn when exceeding limits is permissible. Read now!

Business Income Deductions: What You Can Claim

Posted by Ritik Chopra 14 July 2021 48761 Views

Discover allowable deductions for business and professional income under Sections 30-37 of the Income-tax Act. Understand the general principles for claiming expenses.