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Articles by CA Preksha Choraria

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194Q Vs. 206C(1H) of the Income Tax act, 1961

  CA Preksha Choraria    05 February 2021 at 14:40

The Finance Bill, 2021 has introduced section 194Q – TDS on purchase of goods which is having a resemblance to section 206C(1H)- TCS on Sale of Goods brought in by Finance Bill, 2020.

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Posted in Income Tax  10 comments |   29148 Views


IND AS - 10 events after the reporting period

  CA Preksha Choraria    17 June 2016 at 11:01

Reporting of significant events, occurring post reporting date, are required to maintain transparency of financial statement

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Posted in Accounts |   11784 Views


Receipt without consideration (Gift) from Non-Relatives - A tool for tax planning

  CA Preksha Choraria    28 September 2015 at 10:44

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

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Posted in Income Tax  11 comments |   15903 Views


Gift (Receipt without Consideration) to Persons other than Individuals & Hindu Undivided Family

  CA Preksha Choraria    12 September 2015 at 11:25

*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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Posted in Income Tax  5 comments |   18252 Views