CAclubindia Articles

Re Import of Exported Goods

Posted by CS M Pota 16 June 2014 27695 Views

Many time it happens that the goods manufactured or produced in India, which is exported from India, are due to whatsoever reason re-imported. In such cases the conditions and restrictions as applicable to other imported go

Treatment of Service Tax - When Paid on Demand by Dept.

Posted by Bimal Jain 16 June 2014 8075 Views

Service tax paid by Service provider, on being pointed out by Department, can be treated as business expenditureWe are sharing with you an important judgment of the Honble High Court of Gujarat in the case of Commissioner of Income Tax-III Vs.

Recent Case Laws on Direct Tax

Posted by CA Abhay Agrawal 16 June 2014 17087 Views

Direct Tax updates Recent Judgements - From the Courtroom A. Tribunal 1. Subsequent commercial-use cannot disentitle Sec 54F exemption if building constructed for residential-purpose: Relevan

Income Tax - TDS and Section 40(a)(ia) - 2012 Amendment

Posted by CA Nitesh Kumar More 14 June 2014 210419 Views

DEEMED date of payment of tax by the resident payee As per Section 40(a)(ia) of the Income Tax Act, the following deduction is not allowed: (ia) Any interest, commission or brokerage, fees for professional services or fees for technical services pay

Mutual Fund - Basics

Posted by anil soni 14 June 2014 13841 Views

The world of finance can be complicated and quite daunting at times. It is believed that investments, as a practice is inherently simple after understanding the basics of investments and the terms associated with them. When we hear the word

Tax Implication of Freelance Work in India - Part 1

Posted by JAINENDRA JAIN 14 June 2014 27063 Views

TAX IMPLICATION ON FREELANCER WORK IN INDIABeing inspired by many article published in caclubindia, I wish to write my first article. I request the readers to comment upon the same and any feedback and suggestion to improve in any way will be taken i

Assessee cannot be denied credit for TDS on the ground of Form 26AS mismatch

Posted by Mukesh Lunawat 14 June 2014 18505 Views

Caselaw: Rakesh Kumar Gupta vs. UOI (Allahabad High Court)(WP No 657 of 2013) Background The assessee filed a return in which he claimed a refund of Rs. 2.32 lakhs on accoun

Willful - Deliberate Failure to Failure to ITR

Posted by Nikhil Kaushik 13 June 2014 10383 Views

Application of 276CC to Willful and Deliberate Failure to File Income-tax ReturnsIssueIn past one year, many assesses have received notices from Income-tax Department (Department) for non-filing of tax returns for earlier tax years such

Reversal of Input tax credit on sale of by products

Posted by Jaswinder Singh Bedi 13 June 2014 11917 Views

Reversal of Input tax credit on sale of bye products amounts to double taxation and also exceeds the outer limit of taxability prescribed under the Act Specially in Sheller Trade which is clear cut violation of Article 286 of the Constitution of Indi

All About Related Party Transaction

Posted by CA Gaurav Mittal 13 June 2014 20478 Views

SECTION 188 RELATED PARTY TRANSACTION Section No - 188 of Companies Act 2013About - Related Party TransactionsApplicable on - Private and Public limited comp