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CA Rahul

Impact of GST on FMCG sector in India

No doubt, GST has bought several non-tax payers into the Tax bracket. But, what about some genuine and necessary sectors which have been affected because of the GST? It has vitalized some FMCG companies, but what about the rest? More…

GST Annual Return Form GSTR-9

GSTR 9 is an annual return to be filed once in a year by the registered taxpayers under GST including those registered under composition levy scheme. It consists of details regarding the supplies made and received during the year under…

Taxation of Dividends

1. Dividend is ordinarily used to refer to any distribution made by a company to its shareholders out of its profits in proportion to the number of shares held by the shareholder concerned in the company.  2. Section 115-O (1):…

Presumptive Taxation

A. Section 44AD: Special provision for computing profits and gains of business  i) Applicable to – 1. Resident Individual, HUF and Firm (Excluding LLP) carrying on any business, and 2. whose total turnover or gross receipts in the previous year…

Taxation of AOPs & BOIs

1. Introduction:- The income of an Association of Persons (AOP) and Body of Individuals (BOI) shall be computed normally applying the normal provisions of the Income tax Act. The business income of AOP/BOI shall be computed after allowing all expenses…

Taxation of Agricultural Income

1.Definition of agricultural Income: Any rent or revenue derived from agricultural land Any Income derived from such land by- i) agriculture, or ii) processing of agricultural produce, or iii) sale by a cultivator or receiver of rent-in-kind of the produce…
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