CAclubindia Articles
Income Tax Refunds: Navigating Cyber Fraud and AI-Driven Scams
Here's a comprehensive overview of how these frauds operate, why they are effective, and how you can protect yourself.
Comprehensive Guide to Income Tax Allowances for Salaried Individuals: 2024 Updates
22 August 2024
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A detailed overview of various allowances as per the Income Tax Act and the 2024 Budget.
Forfeiture of Shares: Guide to the Process and Implications
Share forfeiture can be defined as the process of a cancelling the shares allotted to the defaulting investors by the company.
The Angel Tax Controversy: A Comprehensive Overview
Angel Tax, introduced in 2012 under Section 56(2)(viib) of the Income Tax Act 1961, was a tax levied on startups receiving investments from angel investors when the amount raised exceeded the fair market value of the shares issued.
Section 122 of CGST Act: Misuse by Authorities and Judicial Relief for Assessees
This section is used, or I must say misused, in most of the Notices! The department is trying to levy a penalty under this section in most cases, but the High Court's views are in favour of the Assessee.
ITAT Mumbai Rules Rs 20 Lakh Gift from UAE Brother Exempt from Tax
ITAT Mumbai rules that a Rs 20 lakh gift received from a brother in the UAE is exempt from tax under the Income Tax Act, providing clarity on tax-free gifts from relatives abroad.
The Risks of Early Tax Filing: What You Need to Know
Understand the risks associated with early tax filing.
Best Practices to be followed in Corporate/Industry
Promoters should have appropriate qualifications and requisite experience. If the promoter has studied at a foreign university and knowledge of law, etc., in the Indian context is not known to him, then another director should have that knowledge or experience.
Bandhans on Accepting Gifts on Raksha Bandhan!!
On this special day, many brothers and sisters exchange gifts as a token of their love and bond. But what about the tax implications of these gifts?
GST on Insurance Premiums: GST Council to Review Removal of 18% GST
In a move that could significantly impact policyholders and the insurance sector, the Goods and Services Tax (GST) Council is set to review the current 18% GST on insurance premiums.
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