CAclubindia Articles

Rule 28: Value of Supply Between Distinct or Related Persons (Other Than Through an Agent)

Posted by Rajagopal K 30 June 2025 382 Views

Understand GST Rule 28 for valuing supplies between related or distinct persons. Learn about Open Market Value, 90% valuation, full ITC provisions, and corporate guarantee rules with practical examples.

ITC Under GST: Meaning, Eligibility & Conditions

Posted by Rajagopal K 28 June 2025 2389 Views

Input Tax Credit (ITC) is one of the core features of the Goods and Services Tax (GST) system in India. It allows registered taxpayers to reduce their tax liabi...

Compulsory Maintenance of Accounts - Section 44AA

Posted by Jatin Pal 28 June 2025 10437 Views

A question is, can a person engaged in a profession as prescribed under section 44AA(1) adopt the presumptive taxation scheme of Section 44AD?

Assessments under GST Law: A Comprehensive Overview

Posted by Pratik Dhruve 28 June 2025 770 Views

Section 2(11) of the CGST Act defines "assessment" as the determination of tax liability under the Act, and it includes self-assessment, re-assessment, provisional assessment, summary assessment, and best judgment assessment.

Foreign Liabilities and Assets (FLA) Return under FEMA

Posted by Affluence Advisory 28 June 2025 775 Views

This article breaks down the FLA reporting process, explaining the legal framework, required disclosures, practical compliance issues, and potential consequences of non-compliance.

Key Features Of Faceless Assessments Scheme

Posted by Khush Trivedi 27 June 2025 224 Views

Discover the key features of the Faceless Assessment Scheme introduced by the Income Tax Department, aimed at enhancing transparency, reducing human interface, and ensuring uniformity in tax assessments across India.

Earned Rs 1.2 lakh intraday, Rs 2.5 lakh STCG from Stocks. Do I Need to File ITR in AY 2025-26?

Posted by Chaitra Seetharam 27 June 2025 1267 Views

Intraday describes trading actions or market movements that happen within one trading session, from market open to close. It applies to stocks, forex, commodities, and cryptocurrencies, where traders buy and sell assets within the same day.

How AI Helps Small Businesses Grow Smarter

Posted by workspacetool.com m 27 June 2025 207 Views

If you're a small business owner and trying to do it all, this article is for you. AI can make your life easier by helping your business grow faster and smarter.

Legal Framework of Faceless Assessments & Appeals

Posted by Khush Trivedi 26 June 2025 605 Views

Faceless assessment is managed entirely through the National Faceless Assessment Centre (NFAC) and 4 types of functionally specialized units

Faceless Assessments & Appeals: Reforming Tax Administration

Posted by Khush Trivedi 26 June 2025 687 Views

IntroductionThe Income Tax Act, 1961, lays down a comprehensive mechanism for assessing an individual’s or entities taxable income and determining their c