Author: Padmanathan KV

A Qualified Chartered Accountant based at palakkad. He is a partner at K.V.Venkitaraman & co., Chartered Accountants, specializing in the field of Income Tax and GST advisory, audit and litigation. He has represented his clients before various forums such as Income tax and GST officers, Comiissioner (appeals), Income Tax tribunal, Authority for Advance Ruling and so on. He has written numerous articles, some of which are published in reputed law reports such as GST Law times, taxmanagementindia, etc. He has delivered various papers on Income Tax and GST on various forums such as ICAI, ICMAI and other professional bodies. He is also a Faculty for ICMAI Chapter, palakkad for Direct and Indirect Taxes.
Apr 8

ITR Forms for A.Y. 2019-20 : An Analysis of amendments and additional disclosure requirements

CBDT has vide Notification No 32/2019-Income Tax Dated 01/04/2019 released the new ITR Forms for AY 2019-20. While there is no change in ITR-1 (SAHAJ) meant for salaried assesses, there are some changes in ITR-2,3,5,6 and 7 for the Assessment Year 2019-20 with some additional reporting requirements for directors, shareholders of unlisted shares and for companies. Here is a detailed analysis of the amendments in rule as well as the additional reporting requirements.

GST by Padmanathan KV
Apr 5

GST rate for Real-Estate Projects w.e.f 1st April 2019

In the GST Council meeting held on February 24, 2019, the decision was made to cut tax on real estate projects to 5 per cent, from 12 per cent. It was also decided to slash the GST rate on affordable housing, to 1 per cent from 8 per cent, as per Finance Minister Arun Jaitley. These changes are applicable from April 1, 2019. Here is an analysis of the possible impact of the Rate cut on the real estate developer as well as the buyer.

GST by Padmanathan KV
Apr 4
Mar 26

Income Tax AY 2019-20: Everything you need to know

Every budget brings some changes to tax laws every year and budget 2018 was no different. The changes brought in Budget 2018 are applicable form 1st April 2018 i.e. AY 2019-20. The due date for filing the returns for 2019-20 is fast approaching and here are some major changes that Budget 2018 has made which will affect the computation of your income.

Income Tax by Padmanathan KV
Mar 26
Mar 26

A Comprehensive Guide to GST Registration

GST has undoubtedly transformed the business environment in India. Many businesses have become more organised as their business partners prefer dealing with organised businesses to ensure that input tax credits are not lost. This means that you can survive in the market only if you are registered. Here is a comprehensive guide to GST registration process.

GST by Padmanathan KV