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CA VK Agrawal

GST on Rental Income – A Complete Concept of taxability

With the recent 47th GST Council meeting and a lot of notification issued by CBIC, one of the major topic of discussion is GST on “Rental Income”. According to the Schedule II of CGST Act, 2017:- Land and Building (a) Any lease, tenancy, easement, license to occupy land is supply of service. (b) Any lease or letting out of the building which includes a commercial, industrial, or residential complex for… Read More »GST on Rental Income – A Complete Concept of taxability

How to Make the Most of Bitcoin Volatility

The term Volatility is used to refer to rapid price movements in the value of any asset, including Bitcoin or any cryptocurrencies. The price of this crypto currency has repeatedly moved upwards and downwards within the day by between 5% & 15%. The volatility of this digital currency is gauged by sampling how far away the price of the coin behaves from where it was from a specific point in… Read More »How to Make the Most of Bitcoin Volatility

New TDS Provisions (Section 194R & 194S) applicable from 01 July 2022

It is an effort of Direct Taxes Committee to update members regarding any changes or amendments made in Direct Taxes. Section 194R & Section 194S was inserted in Income-tax Act, 1961 vide Finance Act 2022. Section 194R: Deduction of Tax on benefit or perquisite in respect of business or profession: The section provides that a person responsible for providing to a resident, any benefit or perquisite, whether convertible into money… Read More »New TDS Provisions (Section 194R & 194S) applicable from 01 July 2022

Why Do Central Banks Raise Interest Rates?

When the Central bank (In terms of India it is Reserve Bank of India, in the USA it is Federal Reserve System) raises interest rates, It is a piece of big news. It can send waves across the whole economy. Increasing interest rate is the primary tool used by the central bank to manage inflation in the economy. Today through this article, we will understand why the central bank raises… Read More »Why Do Central Banks Raise Interest Rates?

What are the Advantages of GeM Registration?

For empowering small traders & manufacturers, the central government launched a transparent e-Marketplace which is known as GeM. Government e-Marketplace is commonly known as GeM. Any small trader or manufacturer can get a GeM registration for their business in very easy way. What Is Gem? The Government e-Marketplace (GeM) is commonly an e-commerce portal operated by the GoI. It is an online platform where sellers & government buyers meet to… Read More »What are the Advantages of GeM Registration?

Salary Income – Answer to Common issues

In this article we will explain what is Salary Income? What are allowance? What is TDS on Salary, Taxability of Reimbursement of Expenses? What is Form 12BB? When relief under Income Tax Act- section 89 is available, standard deduction on Salary, effective date of enhancement of limit of gratuity from INR 10 lacs – INR 20 lacs for purpose of tax exemption computation u/s 10(10)(ii) etc. A salary is a… Read More »Salary Income – Answer to Common issues

Taxation of Gains on Crypto Currencies

A crypto currency establishes themselves as a new form of digital money. With crypto currencies, an individual may be able to get rid of banks & other centralized middlemen altogether. This is happening because crypto currencies rely on a technology named as block chain, which is decentralized (meaning no single entity is in charge of it). Millions of Indians have invested in crypto currencies and have made large gains in… Read More »Taxation of Gains on Crypto Currencies

The Rise of Crypto Currency in Business

Nowadays numbers of companies globally are using bitcoin and other digital currencies for the purpose of investment, operation, and transaction. Why consider using crypto? Crypto currencies are growing day by day and number of companies are using bitcoin and other crypto currencies for investment and other kind of activities. The use of crypto for managing business presents a host of opportunities & challenges. As with any things, there are two… Read More »The Rise of Crypto Currency in Business

Setting Up of Business in India

India got ranking on the World Bank’s Doing Business Report, India has improved from 142nd position in 2014 to 63rd position in 2020. The ease of doing business index of India has been improved over the past few years. To set up business in India needs diverse process and procedures, which should be adhered to so your business can run with ease and result in maximum profits with smooth compliances.… Read More »Setting Up of Business in India

All About Investment In Equity Shares & Tax Planning

During the time slot of COVID-19 Pandemic record breaking DEMAT a/c and Trading accounts have been opened in Share Market in India. As per data of SEBI, till January 2021 total 15 crores DEMAT accounts have been opened in India out of that approximately 1.42 crores new DEMAT accounts have been opened in Year 2021 itself. You can directly invest in Share market or via mutual funds. People are earning… Read More »All About Investment In Equity Shares & Tax Planning