CAclubindia Articles

Income Tax Refund: Expect Delays This Year Due to New AI Scrutiny System

Posted by Sachin 30 July 2024 6237 Views

This year, taxpayers should anticipate delays in their income tax refunds. The government has implemented a rigorous (Strict) new system for scrutinizing income tax returns (ITRs) using a specially designed, self-automated artificial intelligence (AI) software program.

5 Most Important Proposals in Capital Gains in Budget 2024

Posted by CA Umesh Sharma 29 July 2024 1559 Views

Arjuna (Fictional Character): Krishna, The Hon'ble Finance Minister has recently presented the budget for 2024, which has brought about many proposals of change...

Income Tax Notice for Cash Deposits - Check These 6 Transactions

Posted by Naina Rajgoplan 29 July 2024 2770 Views

Then are the six deals that can attract an income duty notice for cash deposits

ITR Filing Due Date: July 31, 2024 - A Discussion on Advantages and Disadvantages

Posted by Sachin 29 July 2024 1734 Views

The deadline for filing Income Tax Returns (ITR) for the financial year 2023-24 in India is set for July 31, 2024. While the due date provides a clear timeline for taxpayers to fulfill their tax obligations, it has sparked a debate about its implications. Let's delve into the advantages and disadvantages of having a fixed due date and the effects of extending it.

Understanding Professional Skepticism: A Cornerstone of Effective Auditing

Posted by CA Prateek Agarwal 29 July 2024 383 Views

This article explores the definition, importance, and practical applications of professional skepticism in the auditing process.

Budget 2024: Amnesty Provisions under Section 128A w.r.t. Section 73 Demands

Posted by CA Sudhir Halakhandi 27 July 2024 1704 Views

In the Budget 2024, a new Section 128A has been proposed by the Finance (No.2) Bill -2024. Under this section 128A, for certain financial years, from 2017-18 to 2019-20

Section 148: Comparing Existing vs. New Provisions in Finance Bill 2024-25

Posted by Anumanchipalli Sathikonda 27 July 2024 2513 Views

Comparative Study of Section 148 of Income-tax Act, 1961 - Existing Version Vs. New Version (as substituted by Finance Bill 2024-25)

Secretarial Audit Compliance under Companies Act, 2013

Posted by Affluence Advisory 27 July 2024 563 Views

Secretarial Audit is a compliance audit and it is a part of total compliance management in an organization. The Secretarial Audit is an effective tool for corporate compliance management. It helps to detect non-compliance and to take corrective measures.

Everything about New TDS Section 194T

Posted by CA Aman Rajput 26 July 2024 3552 Views

In the Union Budget of 2024, FM Nirmala Sitharaman introduced this new section of TDS in the Income Tax Act, 1961 i.e. Section 194T. This section imposes Tax Deducted at Source on certain payments made to partners of a firm, including salary, bonus, commission, interest, or remuneration.