Income Computation and Disclosure Standards (ICDS)
We provide an extensive guide on Income Computation and Disclosure Standards (ICDS) notified under the Income-tax Act. Our analysis covers standards I through X, including revenue recognition, tangible assets, and foreign exchange changes, ensuring businesses align their accounting policies with tax computations for accurate Form 3CD reporting.
Advisory Services on Drafting of Will & Asset Distribution
We offer expert advisory on drafting Wills and managing asset distribution to ensure your legacy is protected. Our guide covers legal requirements, types of Wills, and succession laws for various religions in India, helping individuals navigate the complexities of estate planning and inheritance with clarity and legal certainty.
Audit Under Various Laws in India
A detailed reference guide by B.D. Jokhakar & Co. covering 15 types of audits applicable in India, including Statutory, Tax, GST, Cost, Secretarial, Internal, and Forensic Audit — outlining legal provisions, applicability thresholds, and purposes under the Companies Act, Income Tax Act, and GST law.
Information About Government Departments in India
We at B.D. Jokhakar & Co. have compiled a ready-reference directory of key Indian government departments, regulators, and trade bodies relevant to businesses operating in India. The guide covers federal ministries (Finance, Commerce, Corporate Affairs, Home Affairs), major regulators (RBI, SEBI, CCI, CAG), central and state tax departments, investment and trade facilitation bodies (DGFT, ECGC, […]
Withholding Tax on Rent (Section 194-IB)
We provide a concise overview of Section 194-IB regarding TDS on rent payments exceeding Rs. 50,000 per month by Individuals and HUFs. Our guide simplifies compliance, covering 5% withholding rates, Form 26QC filing requirements, and interest penalties for defaults, ensuring tenants and landlords meet their Indian tax obligations efficiently.
Rule 37BA — Credit for Tax Deducted at Source (TDS)
We at B.D. Jokhakar & Co. explain Rule 37BA of the Income Tax Act, 1961, which governs how TDS credit is claimed when the income on which tax is deducted is assessable in the hands of a person other than the deductee — such as dividend income clubbed in a parent’s return for a minor […]
TDS On Purchase Of Goods For Certain Tax Payers
We at B.D. Jokhakar & Co. explain the provisions of Section 194Q, introduced by the Finance Act 2021, which requires buyers with turnover exceeding Rs. 10 crores to deduct TDS at 0.1% on purchases of goods above Rs. 50 lakhs from a resident seller, effective 1st July 2021. We cover the applicability conditions, rate of […]
Analysis of Section 9B of Income Tax Act, 1961
We provide a technical analysis of Section 9B, exploring tax implications when a specified entity distributes capital assets or stock-in-trade to partners. Our guide clarifies deeming fictions, Fair Market Value (FMV) considerations, and the interplay between business income and capital gains during firm dissolution or reconstitution.