Articles by CA Piyush Agarwal

Concept of TDS under GST in the Metal Scrap Sector

CA Piyush Agarwal 25 October 2024 at 09:31

The provisions for Tax Deducted at Source (TDS) under GST, as outlined in Section 51 of the CGST Act, were initially limited to government entities and public s..

Section 43B (h) of Income Tax Act, 1961 - Disallowances of expenses due to non-payment to MSMEs

CA Piyush Agarwal 27 March 2024 at 10:25

Section 43B (h) of Income Tax Act, 1961

Section 194IA of IT Act, 1961 - TDS on Sale of Immovable Property

CA Piyush Agarwal 18 January 2023 at 13:20

Section 194IA is inserted by Finance act 2013 and it is applicable from 01st of June, 2013.

Section 194R of IT Act: TDS on perquisites or benefits on business & professions

CA Piyush Agarwal 20 June 2022 at 09:58

Union Budget 2022, a new TDS section 194R, has been proposed in the Finance Bill 2022, w.e.f. 01st July 2022.

Section 139(8A) of IT Act: ITR-U (Updated Income Tax Return)

CA Piyush Agarwal 16 May 2022 at 16:23

The government introduced the concept of updated return in income tax in the Union Budget 2022. The new provision allows the taxpayers to update their ITRs within two years of filing, on payment of additional taxes, in case of errors or omissions.

Section 80EEA of IT Act: Additional deduction of interest payment in respect of housing loan

CA Piyush Agarwal 25 January 2022 at 09:40

A new Section 80EEA has been inserted by government to allow for an interest deduction from AY 2020-21 (FY 2019-20).

Section 80EEB of Income Tax Act: Interest on Electric Vehicle

CA Piyush Agarwal 22 November 2021 at 09:42

A new section 80EEB of Income Tax Act, 1961 has been introduced allowing a deduction for interest paid on loan taken for the purchase of electric vehicles from the AY 2020-21.

TDS u/s 194Q on purchase of goods

CA Piyush Agarwal 26 February 2021 at 10:01

Discussing Section 194Q (TDS on payment of a certain sum for purchase of Goods) of the Income Tax Act, which has been introduced by the Finance Minister in Union Budget 2021.

Section 194O: TDS on Payments made to E-Commerce Participants

CA Piyush Agarwal 13 October 2020 at 10:04

According to Section 194O, an e-Commerce operator is required to deduct TDS for facilitating any sale of goods or providing services through an e-Commerce participant. Know more about the section here.

Measures taken in GST Audit while finalizing Books of accounts & preparation of Balance sheet

CA Piyush Agarwal 22 June 2020 at 10:07

It becomes important to understand the legal provisions under GST law while finalizing books of accounts and preparation of Balance Sheet.