CAclubindia Articles

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

Posted by CA Nitesh Kumar More 14 June 2014 210421 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 13845 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 27065 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 18508 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 10384 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 11919 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 20481 Views

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

Report on AGM

Posted by CS M.Kurtrala Nathan 13 June 2014 9684 Views

Introduction:Section 121 of the Companies Act,2013 and Rule 31 of Companies (Management and Administration) Rules,2014 deals with Report on Annual General Meeting. This is the new provision introduced by the Companies Act ,2013, which mandates the re

CSR as per Companies Act, 2013

Posted by NILESH PATEL 12 June 2014 20581 Views

Key Highlights on Corporate Social Responsibility under Companies Act, 2013Abbreviations:1. CSR Corporate Social Responsibility 2. CSRP Corporate Social Responsibility PolicyImportant Points:1. CSR committee needs to be constituted if

Transfer of Right to use and Software Licensing

Posted by CA. SRIKANTHA RAO T 12 June 2014 10644 Views

By CA Srikantha Rao TThe introduction of the category of Information Technology Software Service as a taxable service category u/s 65(105)(zzzze) of Chapter V of Finance Act 1994 with effect from 16th May 2008 led to issues regarding the taxability o