Articles by Safder Alam

All About Provision of Section 56(2)(X) of Income Tax Act, 1961

Safder Alam 26 December 2020 at 11:58

Over a period of time, the Goi has time to time amended these provisions. Before 2017, Gift was taxable in hands of Individual, HUF, Firm and Closely held Company at tax is levied at the rates prescribed by Finance Act.

Posted in Income Tax | 1 comments | 10497 Views

[Solved] Issues in Applying Provisions of Section 43B of the Income Tax Act

Safder Alam 02 November 2020 at 10:02

FM has extended the last date for filing Tax Audit Report and Transfer Pricing report to 31st Dec 2020. Various issues in applying provisions of Section 43B have been resolved in this article.

Posted in Income Tax | 4113 Views

Applicability of GST on Hotel Services

Safder Alam 30 May 2020 at 10:06

GST on Hotel Services is charged on the amount payable or actual amount charged (transaction value)and not on the declared tariff value.

Posted in GST | 7 comments | 44919 Views

GST Implications on Gift and Business Promotional Expenditure

Safder Alam 26 May 2020 at 09:49

Person in Trade and Industries are in the fix regarding availability of Input Tax Credit(hereinafter referred to as "ITC") on certain type of Business promotion expenditure. Such expenditures are necessary to boost the sale of service. and before we proceed further let us look into certain sections/clauses/terms and conditions.

Posted in GST | 1 comments | 5448 Views