CAclubindia Articles

A Comprehensive Guide to Claiming HRA Tax Exemption: Essential Aspects of Your Rent Agreement

Rashmi 07 June 2023 at 08:56

Salaried individuals can avail tax exemption on house rent allowance (HRA) if they live in a rented house, pay rent, and possess the necessary valid documents. However, many people are unaware that their rent agreements should include specific clauses to ensure that their HRA tax exemption, claimed during income tax return (ITR) filing, is not rejected by the income tax department.

SEBI's Informal Guidance: Applicability of BRSR

Antika Mukherjee 06 June 2023 at 13:57

The Company sought an interpretative letter from the SEBI under the SEBI (LODR) Regulations, with a view to seek clarification for the doubts regarding the applicability of Business Responsibility and Sustainability Reporting ("BRSR").

House Rent Allowance and its exemption calculation

CA. Akshat Parakh 06 June 2023 at 09:06

For salaried employees house rent allowance is a component of their salary. Unlike basic salary HRA is not fully taxable, a part of it is exempted u/s 10(13A) of Income Tax Act, 1961.

Incomes which are now reported in AIS for Individuals

CA Umesh Sharma 05 June 2023 at 14:36

The Income Tax Department has announced the roll-out of a statement namely Annual Information Statement (AIS) which would provide you with almost all details about your financial transactions during the year.

Conversion of Limited Liability Company (LLC) to S Corporation

Ishita Ramani 05 June 2023 at 14:36

A Limited Liability Company (LLC) is a business structure where the owners are called members. It combines the characteristics of a sole proprietorship, partnership, and corporation.

Can Taxing Agricultural Income Benefit Farmers in India?

CA Pallav Singhania 05 June 2023 at 08:57

Introducing a slab-based taxation system for agricultural income could be a feasible approach. By doing so, the burden of taxation can be adjusted according to the income levels of the farmers.

Unveiling Power of Section 71: Accessing Business Premises under GST Act

CA Harshit Goyal 05 June 2023 at 08:57

Under Section 71 of the GST Act, any officer authorized by a proper officer, not below the rank of Joint Commissioner, has the authority to access the premises of a registered person's business

How to Stay Productive and Utilize Your Time Effectively While Waiting for CA Exam Results

CA Rakesh Ishi 03 June 2023 at 14:14

There are practical ways to stay productive and make the most of this waiting time. By following these tips, you can effectively utilize your time, enhance your skills, and manage stress.

Third Party Risk Assessment

CA Amrita Chattopadhyay 03 June 2023 at 09:54

The third-party risk assessment which is also generally known as the supplier risk assessment as most of the risk assessment are done for the associated supplier.

Delhi's GST Collection Over Rs. 34,000 Crores in 2022: Delhi Finance Minister Kailash Gahlot

Abhishek Raja 03 June 2023 at 09:13

Delhi Finance Minister Kailash Gahlot said the collection of GST and VAT in the city was more than Rs.34,000 crores in 2022-23, and claimed Delhi will be a leading state for tax administration through the intervention of artificial intelligence.