CAclubindia Articles

Cash Deposit Rules: Income Tax imposes a penalty of 60% on such transactions

Gautam Bharthry 28 July 2023 at 09:06

Cash and Deposit Rules of Bank In India, the rules regarding cash deposit and withdrawal are very strict. If you also frequently deposit and withdraw cash in the bank, then you should know these rules.

Benefits of Part Time CFO or Finance Manager for your Business growth

Heena Sheikh 27 July 2023 at 15:47

Is your organization looking for services of an experienced and qualified CFO or Finance Manager and do not want to incur high cost related to recruiting and employing the same?

Tax implications on unlisted shares to both investors and the company

Nikita Agarwal 27 July 2023 at 08:58

Investing in unlisted shares in India can have various tax implications, both at the time of acquisition and when selling or transferring these shares. U

GST Refunds on Cancelled Contracts: Supplier Obligations Explained

Vivek Jalan 27 July 2023 at 08:58

Incase of cancellation of contracts, the supplier cannot sit on refund of GST to the recipient, pending receipt of refund from the GST Department

Tax Rebate under Section 87A

Rashmi 26 July 2023 at 15:26

If your taxable income is below Rs 5 lakh in the financial year 2022-23 (assessment year 2023-24), you may be eligible for a tax rebate under Section 87A of the Income Tax Act, 1961.

Intermediary Services remain in limbo

CA Akshay Hiregange 26 July 2023 at 14:06

In this article we understand the implications of the larger bench decision of Dharmendra M. Jani in the Hon’ble Bombay High Court and the way forward for such service providers.

Follow these 4 Tips for Getting Personal Loan Approval

Shree 26 July 2023 at 12:28

Here are a few tips that prospective applicants should consider to increase their chances of getting personal loan approval

Adjudication Penalty for Late Filing of Financial Statement and Annual Return

CS Divesh Goyal 26 July 2023 at 09:41

According to Section 137(1) (Copy of financial statement to be filed with Registrar) of the Company Act 2013, A copy of the financial statements, including consolidated financial statement duly adopted at the annual general meeting of the company, shall be filed with the Registrar within thirty days of the date of annual general meeting.

Leave Travel Concession Claim: Provisions, Documents and Frequency

Nikita Agarwal 26 July 2023 at 08:54

LTC (Leave Travel Concession) is a tax benefit provided by the Indian government to salaried individuals for expenses incurred on travel. The LTC is primarily applicable to government employees, employees of public sector companies, and some private sector employees, depending on their employer's policies and the prevailing tax regulations.

Surge in Zero-Tax Income Tax Returns: A Closer Look at India's Tax Landscape

Rashmi 25 July 2023 at 14:29

India witnessed a record number of Income Tax Return (ITR) filings in FY23, reaching an impressive 74 million. Surprisingly, a significant portion of these filings, 70% to be precise, were zero-tax ITRs, indicating that taxpayers claimed nil tax liability