Articles by Taxblock
View Full Profile
What is audit and what are the different types of audits?
Taxblock 28 September 2021 at 09:35Audit is the activity of evolution and determine the financial, operational and strategic goals and exercise in an organizations to decide if the organization is in accordance with the rules and regulations.
Understanding Different Deposits And Applicable Tax Benefits Around It
Taxblock 28 September 2021 at 09:35Bank gives scheme under different types of deposit and account. In this article we will discuss about them in detail and we will also discuss the tax benefits you get under Income Tax Act.
What is GST? Understanding from the implementation phase
Taxblock 27 September 2021 at 10:19GST is called as Goods and Service Tax which is an indirect tax and passed in the parliament on 29th March 2017 and came into force on 1st July 2017. This is an indirect tax which has replaced many indirect taxes such as VAT, excise duty etc.
What is e-invoicing and which all businesses are required to generate e-invoicing?
Taxblock 27 September 2021 at 10:19The e-invoicing was introduced on 1st October 2020, for tax payers with an aggregate turnover exceeding Rs. 500 crore. This was also extended on businesses from 1st January 2021 whose aggregate turnover is exceeding Rs. 100 crore.
Difference between EPF, PPF & NPS and tax benefits around IT Employee Provident Fund
Taxblock 25 September 2021 at 12:52Under this scheme, the employer and employee both contribute 12% of the employee's salary and dearness allowance to the employee's provident fund account every month.
How to determine the residential status and what are the different residential statuses
Taxblock 25 September 2021 at 12:52An individual may be a citizen of India but may end up being a non resident for that particular year. The residential status of different categories of taxpayers is assessed differently.
Definition of persons under IT Act 1961
Taxblock 25 September 2021 at 12:52According to section 2(31) of the Income-tax Act, a 'person' includes - Individuals, Partnership Firms, HUF, Companies, AOP, Local authorities, or any other artificial judicial person.
Taxability on gifts, rewards and rewards given to Sportsperson / Olympic Participants
Taxblock 24 September 2021 at 09:46In India, a gift is exempted up to Rs. 50,000 and gifts from specific relatives such as parents, spouses and siblings are also exempted from tax. Gifts other than those received from specified relatives are taxable.
Capital gains and its taxability
Taxblock 24 September 2021 at 09:46Capital gains are the amount of net profits(gains) that the investor makes from selling of any capital assets over the purchase price of that assets. The entir..
A Guide to ITC under GST
Taxblock 21 September 2021 at 09:57According to Section 2(62) of CGST Act, Input tax credit means “Central Tax (CGST), State tax, Integrated Tax (IGST), union tax (UTGST) charged on supply of goods or services or both
Popular Articles
- RCM on Rent for Family-Owned Properties: Impact of Notification No. 09/2024
- GST Compliance Alert: Check and Rectify Past Claims Before November 2024
- Revision TDS Return Online: Process and Advantages
- Resolving Gaps Between GSTR-2B and GSTR-3B Data
- GST Amnesty Scheme 2024: Sec 128A of CGST Act 2017
- Updates Related To Revamp of IT Act 1961
- Understanding the New IMS (Invoice Management System) on GST Portal
- Choosing the Best Tax Regime for an Annual Income of Rs 10 Lakh: New vs Old
CAclubindia
