Articles by Safder Alam

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

Posted by Safder Alam 26 December 2020 11462 Views

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.

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

Posted by Safder Alam 02 November 2020 5461 Views

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.

Applicability of GST on Hotel Services

Posted by Safder Alam 30 May 2020 48633 Views

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

GST Implications on Gift and Business Promotional Expenditure

Posted by Safder Alam 26 May 2020 5866 Views

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.