Articles by Neethi V. Kannanth

All About ITC under GST | An analysis

Neethi V. Kannanth 23 September 2021 at 09:24

Input credit means at the time of paying tax on output, one can reduce the tax payable by taking the credit for tax paid on inputs. If you are a manufacturer, supplier, agent, e-commerce operator, aggregator or any of the persons mentioned, registered under GST, you are eligible to claim Input Tax Credit.

Section 14A and Rule 8D of the Income Tax Act

Neethi V. Kannanth 20 September 2021 at 14:57

Method for Determining Expenditure Incurred Towards Earning Income Not Forming part of Total Income - Section 14A and Rule 8D

Payment of Gratuity and Exemption from Tax

Neethi V. Kannanth 16 September 2021 at 17:03

Gratuity is a monetary benefit given by the employer to employees. It is governed by Payment of Gratuity Act, 1972. The exemption limit has been increased to Rs 20 lakh from the earlier Rs. 10 lakh.

How to Overcome the Fear of Failure in Exams?

Neethi V. Kannanth 16 September 2021 at 09:40

If you have been struggling to overcome your exam fears, then this article is just for you.

What to Choose - CA Old Course or New Course?

Neethi V. Kannanth 03 September 2021 at 09:39

Students are given one last opportunity to give exams under the old course in November 2021. So let's discuss the pros and cons of writing exams under the old course.

Tax Audit in Case of Trading in Shares

Neethi V. Kannanth 31 August 2021 at 09:47

If a person’s total gross receipt and payment in cash does not exceed 5% of the total receipts and payments, then the limit of turnover for tax audit is Rs. 5 crores.

Common Mistakes while Filing an ITR

Neethi V. Kannanth 26 August 2021 at 09:39

Owing to various complexities, people tend to make many mistakes while filing their Income Tax Return which can be easily avoided if proceeded with more caution.

Section 234D - Levy of Interest when Excess Refund is Returned to the Government

Neethi V. Kannanth 24 August 2021 at 12:31

The taxpayer is liable to pay simple interest @0.5% on the amount so refunded for every month or part of a month comprised in the period from the date of grant of refund to the date of regular assessment.

Procedure for Registration as Legal Heir on the New Income Tax Portal

Neethi V. Kannanth 18 August 2021 at 16:50

The New Income Tax Portal has now enabled the Registration as Legal Heir, which will ensure easy filing of Income Tax Return (ITR) of a deceased person.

Digital Chartered Accountant - Need of the Hour?

Neethi V. Kannanth 17 August 2021 at 08:55

With so many developments in the field of technology, a Digital CA is the need of the hour. This also requires CA Firms to develop the right set of tools to implement Digital Technology and also train their employees.