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Articles by CA Preksha Choraria

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

Posted by CA Preksha Choraria 07 February 2021 31689 Views

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.

IND AS - 10 events after the reporting period

Posted by CA Preksha Choraria 14 December 2016 13508 Views

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

Posted by CA Preksha Choraria 28 September 2015 16494 Views

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

Posted by CA Preksha Choraria 12 September 2015 18568 Views

*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