CAclubindia Articles

Rule 37 : Reversal of ITC on non-payment to vendors within 180 days

Posted by CA Roopa Nayak 15 March 2024 61920 Views

In this article, the author has examined the non-payment to vendor within 180 days of invoice date and the implications thereof to assessee.

Advance tax e-campaign based on significant transactions

Posted by Sparsh Wadhwa 15 March 2024 1061 Views

The Income Tax Department has received information on financial transactions relating to XXXX SINGH PAN XXXXX1650X for Financial Year 2023-24 (AY 2024-25). It is seen that your advance tax payment for F.Y. 2023-24 is apparently not commensurate with such financial transactions undertaken by you during this period.

Decoding Tax Updates: Major Revisions in ITR Forms for AY 2024-25

Posted by CMA Sonam Verma 15 March 2024 1992 Views

A comprehensive analysis of the new ITR Forms has been conducted, focusing on identifying key changes and introducing new requirements compared to the previous year's ITR Forms.

ITAT Judgement - Ignorance of the Provisions of Section 269 will initiate penalty proceedings u/s 271E

Posted by Affluence Advisory 15 March 2024 1163 Views

ITAT: Upheld penalty, states that poor history of clearance of cheque is not valid reason to make repayment in cash and against the mode prescribed under Section 269T of the Income-tax Act, 1961.

GST on Flat Purchase for FY 2023-24

Posted by Priya Mulukutla 15 March 2024 6290 Views

Buying a house is a significant and often long-term investment of money. GST is to be considered in such transactions. Knowing whether or not GST is applicable shall affect the budgeting of the buyer on such a purchase.

Making SME Payments by 31st March 2024 for compliance u/s 43B(h) of Income Tax Act

Posted by Vivek Jalan 15 March 2024 18255 Views

In this article, we pen down the statutory requirements and analysis of this new amendment in detail.

What are the Patent Laws in India?

Posted by Ishita Ramani 15 March 2024 328 Views

This article covers information like Patent Law in India, "What is a Patent?", Patent Filing Process in India and Patent Rights in India.

Understanding Electoral Bonds: An Insight into India's Political Funding Mechanism

Posted by CMA Sonam Verma 14 March 2024 1954 Views

In this article, we'll delve into the concept of electoral bonds, their functioning, controversies surrounding them, and their implications for Indian democracy.

ITR Filling for Businesses For FY 2023-24

Posted by Priya Mulukutla 14 March 2024 1702 Views

Filing an Income Tax Return(ITR) for businesses is an intricate and extensive process involving many important aspects that the entity should consider.

Filing ITR-U return in India

Posted by FCS Amit Kumar Sharma 14 March 2024 11508 Views

The ITR-U return is a great facility provided by the government to benefit taxpayers who have failed to file their ITRs on time. This step taken by the government will help taxpayers to stay compliant with the tax laws and also help them to avoid any penalties or interest.