Articles by CA Preksha Choraria
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194Q vs 206C(1H): TDS vs TCS on Goods Purchases
Understand the differences between Section 194Q (TDS on goods purchase) and 206C(1H) (TCS on goods sale) under the Income Tax Act, 1961. Clarify applicability for businesses.
IND AS - 10 events after the reporting period
Reporting of significant events, occurring post reporting date, are required to maintain transparency of financial statement
Receipt without consideration (Gift) from Non-Relatives - A tool for tax planning
Any receipt without consideration or receipt with inadequate consideration from relatives (as defined under Income Tax Act) is not taxable. However, certain receipt without consideration or receipt with inadequate consideration even from non-relative
Gift (Receipt without Consideration) to Persons other than Individuals & Hindu Undivided Family
*What is Gift?In Layman�s language, gift is transfer of goods or property (movable or immovable) from one person to another without consideration. As per Income Tax Act, Receipt without consideration or Receipt with inadequate consideration, by
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