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CA SHARWAN

All about Dividend Income, Payment and Compliances

In Dividend income, payment and reporting there has been big and important changes occurred during the last and current financial year with increased taxation in the hands of the recipients and increased reporting requirements. Nowadays investment in shares and securities has become a favorite of most people and as a result many people have dividend income. Let’s go through some of the major changes in dividend. 1) Taxation of dividend… Read More »All about Dividend Income, Payment and Compliances

What is a Business Risk and How can it be identified?

Business risk is defined as the factors that will lower company’s profits or lead to its failure. Business risk can happen because of internal as well as external factors of company. It is practically not possible for a company to completely shelter itself from any kind of risk. The only way is to reduce the overall risks associated with the business by creating a strong risk management strategy. The type… Read More »What is a Business Risk and How can it be identified?

Tax Audit In Case Of Futures & Options (F&O) and Share Trading

Today We will discuss very interesting topic in case of Futures & Options and share trading tax audit is applicable or not- There are two types of share trading- Delivery based Non-delivery based First of all, let us discuss Delivery based transactions- In case of delivery-based transactions what is the Meaning of ‘turnover’- In case of delivery-based transactions when we buy any commodity including stocks & shares and hold it… Read More »Tax Audit In Case Of Futures & Options (F&O) and Share Trading

Sale Of Property By NRI – How To Save Huge Amounts Getting Blocked As TDS

For Indians, Investing in a house property is common and popular. Many NRIs having own house properties in India and they also sell them. In such cases besides finding a buyer, it is also essential to understand the tax implications in case of sale of property by an NRI, particularly TDS (Tax deduction at source) provisions. If you don’t then a huge portion of sales consideration may get blocked in… Read More »Sale Of Property By NRI – How To Save Huge Amounts Getting Blocked As TDS

Section 234F Late Fees Payable For Default In Furnishing Of Income Tax Return

It is mandatory to note that the payment of income tax and filing of the ITR is two distinct and separate legal obligations under Income Tax. The duty of the taxpayer does not end up just by timely payment of the income tax. In fact, the law of income tax also mandates the taxpayer to file their IT return within the prescribed time limit. To make sure timely return filing… Read More »Section 234F Late Fees Payable For Default In Furnishing Of Income Tax Return

Input Tax Credit – Restriction on ITC Utilisation in Electronic Credit Ledger

The CBIC (Central Board of Indirect Taxes and Customs) vide notification no. 94/2020 on 22nd December, 2020 has introduced new rule which is Rule 86B. Rule 86B has been effective from 1st January 2021. According to the new Rule 86B, ITC has been reduced from 10% to 5% of eligible ITC if Input Tax Credit to be availed in respect of invoices does not uploaded by suppliers in their GSTR-1/… Read More »Input Tax Credit – Restriction on ITC Utilisation in Electronic Credit Ledger

Income Tax Benefits Available on Home loan

Taking a home loan can help you save tax according to the provisions of the Income Tax Act, 1961. In this article we will discuss the tax benefits available under the act. The repayment of Home Loan comprises of two components: 1. Repayment of Principal and 2. Repayment of Interest As the repayment consist of two various components, the tax benefit on home loan is taking care by various sections… Read More »Income Tax Benefits Available on Home loan

Registration Under UDYAM

Any business can be classified as Micro, Small or medium Business. You can take a look on the table in which classification of such ventures has been made as per the latest guidelines: Classification     Investment in plant, and equipment   Turnover Micro enterprise   Less than INR 10000000   Less than INR 50000000 Small enterprise   Less than INR 100000000   Less than INR 500000000   Medium enterprise… Read More »Registration Under UDYAM

What Is Presumptive Scheme For Taxation For Professionals And Can Every Professional Opt For It?

The laws of taxation offer a presumptive scheme of taxation for few professionals. In this article we will discuss about presumptive scheme for taxation for professionals and clear all the doubts. For professionals what is the presumptive scheme for taxation? According to the Section 44ADA of the Income Tax Act, specified professionals have the option to choose for a scheme under which they can offer 50% of your gross professional… Read More »What Is Presumptive Scheme For Taxation For Professionals And Can Every Professional Opt For It?

What is Affiliate Marketing?

Affiliate marketing is an advertising form in which a company compensates third-party publishers to generate traffic or leads to the products and services of company. The 3rd-party publishers are affiliates, and the commission fee encourage them to find ways to promote the company. The Internet has increased the vogue of affiliate marketing. If we take an example of Amazon then Amazon made this practice popular by creating an affiliate marketing… Read More »What is Affiliate Marketing?