Articles by Chetan Chauhan

New Income Tax Slabs (FY 2023-24): An Illustrative Analysis

Posted by Chetan Chauhan 04 February 2023 15964 Views

Rebate limit of Personal Income Tax to be increased to Rs. 7 lakh from the current Rs. 5 lakh in the new tax regime. Thus, persons in the new tax regime, with income up to Rs. 7 lakh to not pay any tax.

Section 194J: Fees for professional or technical services

Posted by Chetan Chauhan 28 January 2023 9485 Views

Section 194J of the Income Tax Act pertains to the TDS on fees for professional or technical services. According to this section, any person, including an individual or a company, who is responsible for paying to any sum as fees for professional or technical services, is required to deduct TDS.

An Overview Of Form 10BA

Posted by Chetan Chauhan 27 January 2023 13503 Views

Form 10BA is a tax form used in India for declaring deductions claimed under Section 80GG of the Income Tax Act. This section allows for deductions on rent paid for residential accommodation if the individual does not own a house or if the house is not available for his use.

Appointment Process Of Cost Auditor

Posted by Chetan Chauhan 13 January 2023 12299 Views

An appointment of a cost auditor refers to the process of appointing an independent expert to review and assess the costs incurred in a legal matter.

Section 195 of Income Tax

Posted by Chetan Chauhan 09 January 2023 5613 Views

Section 195 of the Income Tax Act of India pertains to the deduction of tax at source on certain incomes received by a non-resident or a foreign company.

Bogus Purchase and Input Tax Credit Notice

Posted by Chetan Chauhan 07 January 2023 8651 Views

A bogus purchase and input tax credit notice is a formal communication issued by a tax authority, such as the GST (Goods and Services Tax) department, to a taxp...

Job Work Under GST

Posted by Chetan Chauhan 04 January 2023 9220 Views

Under the Goods and Services Tax (GST), job work refers to the process of performing certain specific tasks on goods belonging to someone else and returning the processed goods to the owner

GST Tax Evasion: Cases & measures to curb it

Posted by Chetan Chauhan 30 December 2022 4991 Views

GST evasion refers to the act of avoiding or attempting to avoid paying GST, either by not registering for GST or by not accurately reporting and paying GST on the supply of goods and services. GST evasion is considered a serious offense in India and can result in criminal prosecution, fines, and imprisonment.