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CA VK Agrawal

Mistakes One Should Avoid While Filing Income Tax Return (ITR)

With the increased reliability electronic or e- mode of ITR filling a large number of individuals choose to file their return on their own. While filing of Income Tax Return has several advantages but making minor mistakes may sometimes attract huge penalties so one should be cautious while filing his/her own ITR. We will discuss some of the mistakes which one should avoid while filing his/her ITR. 1. Choose the… Read More »Mistakes One Should Avoid While Filing Income Tax Return (ITR)

All You Need To Know About Cryptocurrency

In the past 1- 2 decades, our world has changed a lot. We comes from landlines to smartphones. We have almost shifted from wallet to digital wallet. Digital payments is a great shift whether it is vegetable vendors or big showrooms. After payment wallets we do not need to struggle to find exact change and always keep an eye on our wallet. In the same pattern there is one more… Read More »All You Need To Know About Cryptocurrency

Income Tax Benefits Available On Housing Loan

Government has provided many tax benefits to assessee on home loan. Income Tax Act provides tax benefits on repayment of loan’s principal component as well as on repayment of loan’s interest component. Deduction under section 24(b) For let-out property, actual interest made on capital borrowed for the purpose of housing property’s acquisition, repairing, re-construction will be allowed as deduction. For self-occupied residential house property, interest incurred on capital borrowed for… Read More »Income Tax Benefits Available On Housing Loan

Companies To Disclose Crypto Currency & CSR In Financial Statements

According to the recent press release released on the website pib.gov.in on 10th August, 2021 in respect of ‘Ministry of Corporate Affairs (MCA) amends Schedule III of Companies Act on disclosure norms in financial statements‘ As Ministry of Corporate Affairs by amendment in Rules of Schedule III on 24th march 2021 has already made lot of amendments in Schedule III of Companies Act, 2013. Schedule III stands for Financial Statement… Read More »Companies To Disclose Crypto Currency & CSR In Financial Statements

Significant Economic Presence (SEP)

In todays’ world technology plays a vital role in making our daily life simpler. Everything seems impossible without technology whether it is medical diagnose or business operation, communication or education. This COVID 19 pandemic has evidenced the same. During the complete lockdown things has been paused but nothing stopped. Technology has changed every facet of our lives, changing the way we work, learn and shop. There has been an ongoing… Read More »Significant Economic Presence (SEP)

MSME – Investment limits, Registration, Benefits & role on Indian Economy

Micro, Small and Medium Enterprises is also known as MSMEs are the backbone of Indian economy. MSME operating in various areas across the country silently, more than six crore MSMEs have an important role to play in building a stronger and self-reliant India. These small economic engines have a big impact on the country’s GDP-making a contribution of 29%. In addition, more than 11 crore people have got job in… Read More »MSME – Investment limits, Registration, Benefits & role on Indian Economy

Why A Good CIBIL Score Is Key To Get A Personal Loan Quickly?

A person who have applied for a loan would be well aware of a credit score, but first-time loan appliers are often confused about the term. So, they must know what a credit score is? Most borrowers are unaware that a credit score makes a direct impact on your personal loan application. What is a Credit Score? A credit score is a numerical representation of a credit history of a… Read More »Why A Good CIBIL Score Is Key To Get A Personal Loan Quickly?

Taxation of Dividend Income – Complete Guide

Finance Act 2020 has made important amendments to the taxation of dividends. With these amendments the general concept that dividends are exempt is no longer the same. First, we will understand the two types of dividends: Interim Dividend – It refers to the amount paid by the company to their shareholders as dividend during the year. Final Dividend – It refers that for the give financial year the amount paid… Read More »Taxation of Dividend Income – Complete Guide

Section 206AA Mandatory Requirement of Furnishing PAN-TDS

Section 206AA has been introduced to endow that any person whose receipts are subject to deduction of tax at source i.e. the deductee, shall essentially furnish his/her PAN to the deductor failing which the deductor shall deduct tax at source at higher of the these rates – Applicable rate of TDS or At the rate of Twenty Percent Additional Points Related To Section 206AA No certificate u/s 197 will be… Read More »Section 206AA Mandatory Requirement of Furnishing PAN-TDS