CAclubindia Articles
GST Payable on Sale of Capital Goods under CGST Act: Section 18(6) viz-a-viz Rule 40(2) and Rule 44(6)
The Goods and Services Tax (GST) regime allows businesses to claim Input Tax Credit (ITC) on purchases used for taxable supplies. However, there are situations where previously claimed ITC needs to be reversed.
Capital Gain Exemption Under Section 54 of Income Tax Act, 1961
As per section 54, an individual or HUF selling a residential house property can avail tax exemption under the said section for capital gain, provided the capital gains are invested in purchase or construction of Residential House Property.
ITR Filing Due Date FY 2023-24 (AY 2024-25)
For FY 2022-23 (AY 2023-24), the original ITR filing deadline was July 31, 2023, with no late fee. If missed, you can file a belated return by December 31, 2023, but with a late fee and interest.
All about Angel Taxation in India
Angel Tax which is governed by Section 56(2)(viib), was introduced in the Income Tax Act from the Assessment Year 2013-14 via finance bill, 2012 as a step to take up the circulation of unaccounted money in the name of share premiums which were received by private companies or closely held companies.
Statutory Tax Compliance Tracker: May 2024
Tax Compliance Tracker for the month of May, 2024
Is the market rally fuelled by P/E expansion or Earning Expansion?
Let's screen some data and see that if at all the rally that the market has experienced was due to P/E expansion if not Earnings expansion or both.
Deciphering GST Notices: A Comprehensive Guide to Understanding and Responding Effectively
In this comprehensive guide, we will delve into a step-by-step process to comprehensively understand and analyze GST notices, ensuring a thorough and informed response.
CBDT releases guidelines for compulsory selection of ITR for mandatory scrutiny during FY 2024-25
The Central Board Direct Taxes(CBDT) has released some guidelines relating to compulsory selection of Income tax returns for 100% Scrutiny during the financial year 2024-2025.
Patta Chitta: Meaning, Purpose and How to extract online
Patta Chitta are important land records in the state of Tamil Nadu. Due to digitization, these land records, i.e., Patta Chitta documents, are available online through the official TN e-Services website.
Savings Habit: Makes a Good Life
After the end of the financial year and the start of a new financial year, it's good to try to save more money. Saving is basically when we keep some of the money we earn instead of spending it all right away.
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