CA Exams May 2020 Cancelled
ICAI

ICAI Announcement : CA Exams Cancelled!! To be held in November 2020

The Institute of Chartered Accountants of India with a view of the current situation and for the well being of their students, has issued a notification for the cancellation of the May/July 2020 CA exams. Earlier the Institute has issued notification for the postponement of examinations in the month of July 2020, which were to […]

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section 194J Tds
Finance Income Tax Act

TDS on Professional or Technical Services: Section 194 J

As per the Finance Act 2020, the following are some of the amendments which are being made in section 194J of the Income-tax Act,1961 i.e. TDS on Technical and Profession services and are effective from 1st April 2020. Person liable to deduct TDS u/s 194J Every person except individual or Hindu Undivided Family who making […]

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section 194J Tds
Finance Income Tax Act

TDS on Professional or Technical Services: Section 194 J

As per the Finance Act 2020, the following are some of the amendments which are being made in section 194J of the Income-tax Act,1961 i.e. TDS on Technical and Profession services and are effective from 1st April 2020. Person liable to deduct TDS u/s 194J Every person except individual or Hindu Undivided Family who making […]

Gift under Income tax Act Section 56(2)
Finance Income Tax Act

Taxation of Gifts Section 56(2)

In this article, we will discuss about the taxability of Gifts given by one person to another person. Gifts may be in the nature of the movable property or immovable property. Why taxation levied on gifts? What practice was followed before this? Need of taxation of Gifts u/s 56(2) Before the insertion of section 56(2) […]

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