Articles by CMA Poornima Madhava

National Pension System (NPS) - Part 4

CMA Poornima Madhava 25 May 2021 at 16:53

Learning about the exit process and solving a hypothetical problem to understand the computation of pension. In the end, we will also understand whether NPS is a better choice for investment.

National Pension System (NPS) - Part 3

CMA Poornima Madhava 21 May 2021 at 09:41

This piece attempts to cover all about Registered Pension Funds, How can one open an NPS account and Tax Benefits available under the Income Tax Act.

National Pension System (NPS) - Part 2

CMA Poornima Madhava 20 May 2021 at 09:26

In this article, we will discuss the Investment Choices and Subscriber Base & Assets of Management under the National Pension Scheme.

National Pension System (NPS) - Part 1

CMA Poornima Madhava 19 May 2021 at 09:47

National Pension Scheme is a defined contribution retirement savings scheme intended to urge the working class to set aside a part of their earnings so as to have an adequate income at/after the time of retirement.

TDS on Interest other than Interest on Securities 194A

CMA Poornima Madhava 23 July 2015 at 10:33

Any person (not being an individual/HUF*), responsible for paying to a resident any income by way of interest other than interest on securities, is responsible to deduct tax at source and deposit the same to the Government Treasury within the time st

Manufacture under Central Excise Act

CMA Poornima Madhava 08 July 2015 at 10:32

The term manufacture refers to a process involving the conversion of an input into a completely different output.As per section 2(f) of Central Excise Act, 1944 (CEA), manufacture includes any process: Incidental or ancillary to the completion of a m

Types of duties under customs

CMA Poornima Madhava 11 June 2015 at 11:04

Various duties under Customs can be levied on almost all imports whereas only few goods are subject to export duty. Let us understand different types of duties under Customs Law for the purpose of import of goods.Let us study each of the above in det

TDS on Rent u/s 194I

CMA Poornima Madhava 27 May 2015 at 10:28

What is tax deduction at source?Persons responsible for making payment of income (rent), are responsible to deduct tax at source and deposit the same to the Government Treasury within the time stipulated.The recipient of the income (though s/he gets

Taxation of gifts by an Individual/HUF

CMA Poornima Madhava 15 May 2015 at 10:55

As per section 56(2)(vii) of Income Tax Act, gifts received by an individual or a hindu undivided family in the form of money or property (without consideration or with inadequate consideration) is taxable as income under the head Income from Other S

Return of Income

CMA Poornima Madhava 02 May 2015 at 11:16

Who has to submit return of income? Taxpayer Section under which return to be filed Minimum income to attract the provisions of filing return of income Company or firm 139(1) Any income/loss