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Articles by CA Preksha Choraria

194Q vs 206C(1H): TDS vs TCS on Goods Purchases

Posted by CA Preksha Choraria 07 February 2021 31726 Views

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

Posted by CA Preksha Choraria 14 December 2016 13529 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 16524 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 18602 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