Chetan Chandak, Author at H&R Block| Blog

Chetan Chandak

November 6, 2017

Impact of GST on Power Sector in India

India is the world’s third-largest producer and fourth-largest consumer of electricity. In the last couple of years, the power sector witnessed record capacity addition taking the installed generation capacity to more than 330 GW. Considering its role in developing the economy and in achieving universal […]
November 1, 2017

Responding to Notice Received u/s 143(1)(a)

Recently, many taxpayers received a notice from the Income Tax Department, which claimed discrepancies, in their declared income.  If you were among the thousands who received this notice for the first time, then you probably went through a spectrum of emotions including, shock, irritation and […]
October 12, 2017

Impact of GST on Road Transport Sector

Even after 3 months since the arrival of GST, there are a lot of apprehensions in the mind of taxpayers. Our Government is quite upbeat about GST; whereas bureaucracy seems to be divided on the success. There has to be initial hurdles as such a […]
October 9, 2017

CBDT Proposes Mechanism for Self-Reporting on Income & Taxes

The CBDT had proposed a draft notification for creating a mechanism for self-reporting of the estimated current income and taxes. The assessees for such reporting are taxpayers, viz companies and people (individuals, firm, etc.) to whom tax audit cases are applicable by voluntary compliance. Additional […]
October 5, 2017

Impact of GST on Pharmaceutical Industry

Goods and services tax (GST) has been in place for over a month now. With the passage of time, more aspects of it are becoming clear. One of the questions that have come up is what it means for the affordability of medicines. GST replaces a […]
August 25, 2017

Things to do if you own a Property Overseas using the LRS Window

When US property market fell in 2008, many smart Indians invested in US properties market. Similarly, a lot of affluent Indians have acquired the properties outside India either out of their foreign earnings or taking the advantage of LRS – Liberalized Remittance Scheme, which allows […]
August 18, 2017

Tax Toto explains why taxpayers have received notice u/s 143(1)(a)

Hello friends, I am Tax Toto and I am back with yet another topic that needs to be discussed with you. A lot of taxpayers have received Income Tax notices for the Financial Year 2016-2017, the most common being notice u/s 143(1)(a). The taxpayers who […]
March 28, 2017
Long & Short of Capital Gains Tax

The Long and Short of Capital Gains Tax

Union Budget 2017-18 came with a slew of announcements for the housing sector, including a key change in the minimum holding period prescribed for a house property to be considered a long-term asset. It has come down to two years from three years earlier. Since the […]
March 27, 2017
Aadhar Card for Income Tax Filing

‘Voluntary’ Aadhar Card now ‘Mandatory’ for PAN and for Filing Income Tax Returns

The Government of India is speeding up on the road to curbing tax evasion. So, it is leaving no stone unturned in achieving this target. As you know black money was one of the major electoral promises of the NDA (National Democratic Alliance) government in […]
March 24, 2017
Tax Planning for Salaried Employees

Last Minute Tax Planning for Salaried People

In a matter of days, the current Financial Year will come to an end. For a taxpayer, it is the time to evaluate your performance on your investment goals you set at the start of the year. Unfortunately, this is the time of the year […]