Charitable Trust: New Challenges & Compliances from the financial Year 2020-21 onward: CA Naresh Jakhotia
Since ‘actual cost’ has not been defined in the Income Tax Act- it should be construed in accordance with the normal rules of accountancy prevailing in commerce and industry which means that cost would include Interest also.
Interesting case: Cost of acquisition to the assessee is not merely the amount paid to the vendors but also the cost of the borrowing made by him for the purpose of paying the vendor and obtaining the sale deed
Why not change financial year 2019-20 from 12 months to 21 Months: A new approach for the new emerging India
Date extension from 31st March 2020 to 30th June 2020 – What it means? What is missing? What could have been done? – CA Naresh Jakhotia
