Candace Owens has a net worth of $30 million as of 2025. She owns $18 million worth of real estate properties, most of which were tax-free gifts from […]
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Carry forward and Set Off of Depreciation [Section 32(2)]
Section 32(2) provides for carry forward of unabsorbed depreciation. Where, in any previous year the profits or gains chargeable are not sufficient to give full effect to the […]
Section 43CA: Stamp Duty Value as Full Consideration
Section 43CA has been inserted as an anti-avoidance measure to provide that where the consideration for the transfer of an asset (other than capital asset), being land or […]
Disallowance of Provision for Gratuity under Section 40A(7)
Section 40A(7) provides that no deduction would be allowable to any taxpayer carrying on any business or profession in respect of any provision (whether called as provision or […]
Section 194: Latest Amendments and Changes
Section 194A provides for deduction of tax @10% by any person (other than an individual or a HUF whose total sales, gross receipts or turnover from the business […]
Tax on Casual Income and Winnings from Online Games
Section 115BB This section provides that income by way of winnings from lotteries, crossword puzzles, races including horse races or card games and other games of any sort […]
Exemption on Capital Gains From Compulsory Acquisition of Land
Conditions for Section 54D There must be compulsory acquisition of land and building or any right in land or building forming part of an industrial undertaking. The land […]
Transfer Pricing Officer Under Section 92CA
Where any person, being the assessee, has entered into an international transaction in any previous year, and the Assessing Officer considers it necessary or expedient so to do, […]
Understanding Customs Audit under section 99A
In supersession of On-site Post Clearance Audit at Premises of Importer and Exporter Regulations, 2011, Government has notified Customs Audit Regulations, 2018. For this reason, a separate section […]
Stock Transfers Between Branches is Supply under GST
It is a common practice in business to transfer goods transferred amongst different units of same entity, for instance, distribution of samples manufactured in a factory to different […]