Articles by CMA Poornima Madhava

National Pension System (NPS) - Part 4

Posted by CMA Poornima Madhava 25 May 2021 2001 Views

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 1

Posted by CMA Poornima Madhava 22 May 2021 2923 Views

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.

National Pension System (NPS) - Part 2

Posted by CMA Poornima Madhava 22 May 2021 2343 Views

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 3

Posted by CMA Poornima Madhava 22 May 2021 1626 Views

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.

Baggage Rules

Posted by CMA Poornima Madhava 30 January 2021 222087 Views

Baggage RulesWhat is meant by Baggage? It is the luggage of the passenger travelling by air or sea from one country to another It also means all dutiable goods imported by a passenger or a member of crew in his/her baggage Baggage INCLUDES unaccompan

TDS on Interest other than Interest on Securities 194A

Posted by CMA Poornima Madhava 23 July 2015 16969 Views

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

Posted by CMA Poornima Madhava 08 July 2015 23128 Views

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

Posted by CMA Poornima Madhava 11 June 2015 119028 Views

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

Posted by CMA Poornima Madhava 27 May 2015 106320 Views

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

Posted by CMA Poornima Madhava 15 May 2015 28186 Views

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