Articles by Khush Trivedi

Form 27Q: TDS Returns for NRI Transactions

Khush Trivedi 03 May 2024 at 17:43

Let me introduce you with TDS returns as we all are aware under Income tax act 1961, there are certain transactions & nature of expense on which there is a requirement of deduction of TDS (Tax Deducted at source) while making payment or crediting the party as the case may be.

What will happen if you fail to declare NRI status?

Khush Trivedi 03 May 2024 at 17:15

As we all are aware the first step for computing tax liability of an assessee is determination of residential status which can be either Resident or Non-resident & according to which one can find the taxable income as it is important to declare residential status.

Rule 114E of Income Tax Act

Khush Trivedi 03 May 2024 at 15:52

In this article, you will learn about all the transactions of which reporting is required under the Rule 114E

Section 54F: Multiple Investments Allowed for Capital Gains in New Property

Khush Trivedi 25 April 2024 at 11:09

Section 54F of the IT Act provides capital gains exemption, excluding residential house sales, subject to conditions: invest net sales in new residential property within specified timelines, not owning more than one residential house.

Capital Gain Tax on Shares: Calculation of Income Earned For FY 23-24

Khush Trivedi 19 April 2024 at 11:41

As we all know nowadays Stock trading & investments are increasing rapidly & it is important to know about the taxability of these transactions.

Are Hotels Overpaying Taxes?

Khush Trivedi 15 April 2024 at 10:54

As we all are aware Hotel Industry is one of the dominating Industries in India Having Market size(2024) of 247.31 Billion USD & which will be around 475.37 Billion USD by 2029 with CAGR of 13.96%. Pre-GST Hotel industry need to pay municipal taxes (VAT, luxury tax, and service tax) under the previous VAT regime.

Issues Pertaining to HRA claims

Khush Trivedi 11 April 2024 at 11:03

The Ministry of Finance recently issued a clarification regarding media reports suggesting a special drive by the Central Board of Direct Taxes (CBDT) to reopen cases linked to House Rent Allowance (HRA) claims. These reports, according to the Ministry, are not grounded in reality, and there is no substantial evidence to support claims of a large-scale reopening of cases.