CAclubindia Articles
Re Import of Exported Goods
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.
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.
Relevant Examination Tips for CA CPT Students
Dear CPT Aspirants,Please find below few suggestions to deal with your CA-CPT Examinations. As per my opinion it is very important to lay stress on the study material provided by the Institute. Further it is also advisbale to get in touch with studen
Recent Case Laws on Direct Tax
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
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
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
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
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
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
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
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