Articles by Neethi V. Kannanth

Related Party Transactions under the Companies Act

Neethi V. Kannanth 09 June 2021 at 09:32

Provisions regarding Related Party Transaction are encapsulated u/s 188 of the Companies Act, 2013 which provides that a company cannot enter into any contract or arrangement with a related party except with the prior approval of the Board.

Analysis of Section 206AB and Section 206CCA

Neethi V. Kannanth 31 May 2021 at 14:48

Section 206AB and 206CCA were introduced in the Finance Bill 2021. They provide for a higher deduction of TDS and TCS respectively, if certain conditions are met.

Income Tax Benefits Available to Individuals and HUF - Part 4

Neethi V. Kannanth 26 May 2021 at 09:31

This is the last part of the article series related to Income Tax Benefits Available to Individuals and HUF. We will now be discussing about the remaining deductions under Chapter VIA, TDS and advance tax provisions and about exemption from Filing of Income Tax Return

Income Tax Benefits Available to Individuals and HUF - Part 3

Neethi V. Kannanth 25 May 2021 at 09:59

Discussing the Deductions Allowable from Taxable Income to Individuals and HUF as per Chapter VIA of the Income Tax Act, 1961.

Income Tax Benefits Available to Individuals and HUF - Part 2

Neethi V. Kannanth 24 May 2021 at 09:44

Let us discuss the incomes that are exempt from tax and the deductions from taxable income that are available to Individuals and HUF under the Income Tax Act.

Income Tax Benefits Available to Individuals and HUF - Part 1

Neethi V. Kannanth 21 May 2021 at 18:07

Under the provisions of the Income Tax Act, various benefits are provided to Individuals and HUF. Through this article, let us understand some basic exemption limits and relief available to them.

Section 245N(a) - Advance Ruling

Neethi V. Kannanth 20 May 2021 at 09:26

Advance Ruling means written opinion or authoritative decision by an authority empowered to render it with regard to the tax consequences of a transaction or proposed transaction or an assessment in regard thereto.

Set Off and Carry Forward of Losses : An analysis

Neethi V. Kannanth 18 May 2021 at 09:39

If there is any loss under any head of income, the assessee can set off losses against income. Discussing the two ways of setting off losses against income i.e. through Intra-head and Inter-head adjustments.

Penalties under the Income Tax Act, 1961

Neethi V. Kannanth 17 May 2021 at 09:39

An offence committed by an assessee under the provisions of the Income Tax Act,1961 shall be subject to penalty. There are more than 45 penalties under the act. Discussing the same in this article.

How to Apply for a Lower Tax Deduction Certificate?

Neethi V. Kannanth 12 May 2021 at 09:45

As per section 197, when the actual tax payable on the income of an assessee is lower than the TDS to be deducted by the payer, then the AO shall grant him a certificate upon the application made by the assessee.