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CAclubindia Articles


Ordinary Business and Special Business

  Affluence Advisory    04 September 2024 at 08:43

In the governance of companies, the proceedings of shareholder meetings play a critical role. The agenda items discussed in these meetings can be broadly categorized into two types: Ordinary Business and Special Business.



A Chartered Accountant's Checklist for Issuing Certificates and Signing Documents

  CA Mayur Todmal    04 September 2024 at 08:40

To safeguard your practice and uphold the profession's integrity, it's essential to adhere to a thorough checklist before you sign off on any document.



When to Create a New GST Registration Number for Your Business

  Ishita Ramanipro badge    04 September 2024 at 08:37

Comprehending the need and timing of obtaining a New GST Registration Number is critical for upholding felony compliance and streamlining business approaches.



No Income Tax Rebate u/s 87A Despite Income Below Rs 7 Lakh: Key Scenarios Explained

  Sachinpro badge    04 September 2024 at 08:37

Here's a point-to-point summary of the article about cases where no income tax rebate under Section 87A is allowed, even if the total income is below Rs 7 lakh



GST Taxability of Salvage/Wreck Value in Motor Vehicle Damage Claims

  CA Amit Harkhanipro badge    03 September 2024 at 14:27

The insurance companies, which are engaged in providing general insurance services in respect of insurance of motor vehicles, insure the cost of repairs/damages of motor vehicles incurred by the policyholders.



Direct Tax Code (DTC): Key Features, Challenges and Criticisms

  Sahil Jaiswal    03 September 2024 at 10:51

The goal of the DTC is to create a tax system that is easier to understand, more equitable, and capable of generating revenue efficiently without causing undue hardship to taxpayers.



Is trading in a Life Insurance Policy allowed?

  FCS Deepak Pratap Singh    03 September 2024 at 08:53

"It is suggested that life insurance policies be treated as a capital asset falling within the definition of "property" under Section 2(14) of the Income Tax Act. Indexation benefit (for premiums paid) will take care of inflationary impact, resulting in parity with other capital assets," ICAI said in its Pre-Budget Memorandum, 2022.



No ITC reversed for the portion of the LIC premium not included in the taxable value, as per Rule 32(4)

  CA Amit Harkhanipro badge    03 September 2024 at 08:46

Life insurance companies provide services by insuring the life of the insured. In exchange, they charge a premium, which may include components for both risk cover and investment/savings.



The Evolution of Taxation in India: From Ancient Times to GST

  akansha Singh    02 September 2024 at 13:59

Over the decades, there has been a significant change in the practice of charging income tax. Let us look into the history of income tax from ancient times.



Who is Required File Tax Audit Report before September?

  CA Umesh Sharmapro badge    02 September 2024 at 13:13

The last date to file the Tax Audit Report is 30th September of the assessment year. It is crucial to adhere to the deadlines to avoid any penalties