RSAG And Co Article Assistant Interview Questions, Process, and Tips

Basic sections of TDS include Deduction, Payment, Filing of Returns, and Issuance of Certificates.

• Deduction: TDS is deducted by the payer at the time of making payment.

• Payment: The deducted TDS amount is paid to the government.

• Filing of Returns: The deductor files TDS returns periodically to report the TDS deducted and paid.

• Issuance of Certificates: TDS certificates are issued to the deductee as proof of tax deduction.

Sections 9, 10, and 16 of the CGST Act pertain to various aspects of taxation under the Goods and Services Tax regime.

• Section 9 deals with the levy and collection of CGST on intra-state supplies of goods or services.

• Section 10 covers the registration requirements for persons liable to pay tax under the Act.

• Section 16 pertains to the eligibility and conditions for taking input tax credit.

• Examples: Section 9 ensures that...read more

Sec 44ADA of income tax act allows professionals to declare 50% of their gross receipts as income for tax purposes.

• Sec 44ADA applies to professionals like doctors, lawyers, accountants, etc.

• Professionals can declare 50% of their gross receipts as income for tax purposes.

• This provision simplifies the tax calculation process for professionals.

• Example: A doctor earning Rs. 10 lakhs in gross receipts can declare Rs. 5 lakh

Sec 40(3) disallows certain expenses if not paid by account payee cheque or account payee bank draft. Sec 269ST restricts cash transactions above a certain limit.

• Sec 40(3) of the Income Tax Act disallows certain expenses if not paid by account payee cheque or account payee bank draft.

• This section aims to promote digital transactions and prevent tax evasion.

• For example, if a business pays rent in cash without using a ch...read more