Articles by Neethi V. Kannanth

Key changes in ITR Forms for AY 2021-22 - Part 5: ITR 7

Neethi V. Kannanth 13 October 2021 at 09:55

Dividend will now be taxable from Rs. 1/‐ as section 115BBDA is omitted. Accordingly, Interest expenditure u/s 57(1) to earn Dividend can be claimed at sl.no.3...

Key changes in ITR Forms for AY 2021-22 - Part 4: ITR 6

Neethi V. Kannanth 11 October 2021 at 15:38

Option of Filing ITR in response to notice u/s 153A and 153C is removed from ITR as the requirement to file ITR under these sections is omitted. Dividend will now be taxable from Rs.1/‐ as section 115BBDA is omitted.

Key changes in ITR Forms for AY 2021-22 - Part 3: ITR 4 Sugam and ITR 5

Neethi V. Kannanth 09 October 2021 at 15:17

Schedule DI is removed from ITR 4. Option of Filing ITR in response to notice u/s 153A and 153C is also removed as a requirement to file ITR under these sections is omitted.

Key changes in ITR Forms for AY 2021-22 - Part 2: ITR 3

Neethi V. Kannanth 08 October 2021 at 15:59

Section 115BBDA is removed from AY 2021‐22 onwards, hence corresponding dropdowns are removed from sl. No. 2c, 2d and 2e of schedule OS and respective changes are done in sl.no.10(i).

Key changes in ITR Forms for AY 2021-22 - Part 1: ITR 1 Sahaj and ITR 2

Neethi V. Kannanth 07 October 2021 at 17:21

The allowable difference between the full value of consideration u/s. 50C and value of property as per stamp authority has been increased from 1.05 times to 1.10 times.

Pensioners Can Now Submit Annual Life Certificate Without Visiting Bank

Neethi V. Kannanth 05 October 2021 at 10:07

Pensioners can now submit a life certificate by sitting at home by availing the door step service provided by various public sector banks and the country's postal service.

The Magical Formula for Clearing CA Exams

Neethi V. Kannanth 01 October 2021 at 09:20

With the never ending pressure to clear the exams and the fear of failure, it's a vicious circle through which a student goes through. In such a scenario, it's this magical formula that will keep you going.

Concept of GST on Job Work

Neethi V. Kannanth 29 September 2021 at 09:32

Job work means processing or working on raw materials or semi-finished goods supplied by the principal manufacturer to the job worker.

Impact of Rising Crude Oil prices

Neethi V. Kannanth 28 September 2021 at 08:38

The increasing crude oil prices has an impact on almost all the sectors of the company. The consumers being at the end of the production chain are bearing the impact. The government by reducing the taxes can keep a check on fuel prices and reduce the burden on the consumers.

Methods of Raising Finance for Running a Business

Neethi V. Kannanth 24 September 2021 at 16:16

Financing plays a major role in business. A business can flourish only when the finances are well managed. From Start-up to expansion of business and even to carry day to day business, funds are needed.