Articles by Ritik Chopra

Types of Provident Funds Explained: SPF, RPF, URPF & PPF

Posted by Ritik Chopra 02 June 2021 20514 Views

Discover the different types of Provident Funds in the UK: Statutory, Recognised, Unrecognised, and Public. Understand tax implications and benefits.

What is Salary Income? Understand Taxable Salary

Posted by Ritik Chopra 01 June 2021 11874 Views

Discover what constitutes salary income under the Income Tax Act, including wages, pension, bonus, and more. Learn about employer-employee relationships and taxable salary components.

Understanding Income Tax: A Simple Guide

Posted by Ritik Chopra 29 May 2021 10461 Views

Learn what income tax is, who pays it, and its key features in India. Discover how it's levied and administered by the Central Government.

Section 10AA: Tax Breaks for New SEZ Units

Posted by Ritik Chopra 22 November 2021 9204 Views

Discover Section 10AA benefits for new units in Special Economic Zones. Learn eligibility, conditions, and tax deductions for exporters.

New Tax Regime for Individuals & HUF: AY 2021-22 Onwards

Posted by Ritik Chopra 16 November 2021 8030 Views

Discover the alternate taxation scheme for individuals and HUFs from AY 2021-22. Learn about lower tax rates and forfeited deductions. Explore the new regime now!

Section 94: Bond Washing Transactions

Posted by Ritik Chopra 14 May 2021 63019 Views

A bond washing transaction can be defined as a transaction where some securities are sold sometime before the due date of Interest and reacquired after the due date is over. In order to discourage such transactions Section 94 was introduced.

Section 35AD: Specified Business Capital Expenditure Deduction

Posted by Ritik Chopra 07 May 2021 4245 Views

Learn about Section 35AD deductions for capital expenditure on specified businesses. Discover eligible businesses and conditions for claiming this tax incentive.

Section 43B: Payments Must Be Actually Paid for Deduction

Posted by Ritik Chopra 06 May 2021 1476 Views

Understand Section 43B: Learn when specific payments like taxes, PF, and employee welfare contributions are deductible only if actually paid, not just accrued.

Section 35D: Amortise Business Preliminary Expenses

Posted by Ritik Chopra 07 May 2021 5225 Views

Learn about Section 35D of the Income Tax Act, 1961, allowing Indian companies and residents to amortise certain preliminary business expenses over five years.