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CAclubindia Articles


Respond To Notice DRC-01

Posted by CA Ruby Bansal 28 December 2023 10485 Views

DRC-01 stands for "Demand and Recovery Certificate-01" is a form that is used by the officer under GST to issue a summary of the show cause notice to a taxpayer.



ITR Filing Due Date FY 2023-24 (AY 2024-25)

Posted by Shivani 28 December 2023 23149 Views

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.



Decoding the Legitimacy of Business Expenses

Posted by CA Rakesh Ishi 28 December 2023 746 Views

In a recent case, Swing Infraspace P. Ltd. found itself in the crosshairs of the Income Tax authorities concerning the allowability of certain expenses under Section 37(1) of the Income Tax Act, 1961.



Property Acquisition and Transfers in India: A Guide to FEMA Regulations for NRI/OCI and Foreign Nationals

Posted by DHANUSH D BOLAR 28 December 2023 1161 Views

FEMA does not define the term 'immovable property. In general, the term will include all types of immovable property residential, commercial, industrial or agricultural property.



Understanding Section 16 and Automating Form 16 Part B Preparation for 100 Employees in FY 2023-24

Posted by Pranab Banerjeepro badge 28 December 2023 3233 Views

Section 16- Standard Deduction, Entertainment Allowance, and Professional Tax: Unraveling the Tax Web with Automatic 100 Employees Form 16 Part B Preparation for the FY 2023-24



Minimum thirty days to be provided to reply to a GST SCN

Posted by Vivek Jalan 27 December 2023 2376 Views

Going to Tribunal under GST requires 30% pre-deposit. Moving to High Court in each case requires hefty charges which may be affordable in some cases but not in all cases.



Understanding TDS Under Section 195

Posted by CA Rakesh Ishi 27 December 2023 8566 Views

In the realm of cross-border transactions involving payments to non-residents, Tax Deducted at Source (TDS) plays a crucial role, especially under Section 195 of the Income Tax Act. A landmark case shedding light on the application of Section 195 is the Engineering Analysis Centre of Excellence (P) Ltd. vs. Commissioner of Income Tax & Anr. 



What is the process to file Form ITR 5?

Posted by Ishita Ramani 27 December 2023 2142 Views

In this article, we will learn what ITR form 5 is and how to file it.



Can a Category III AIF invest in Mutual Funds on a permanent basis as a part of their multi asset portfolio?

Posted by Affluence Advisory 27 December 2023 576 Views

A Category III Alternative Investment Fund (AIF) requested the Securities and Exchange Board of India (SEBI) for an Informal Guidance by way of the interpretative letter under the provisions of the SEBI (Informal Guidance) Scheme, 2003.



Higher GST charged by the Vendor: ITC as well as refund available to the recipient

Posted by Vivek Jalan 27 December 2023 3480 Views

Consider the situation where the input product was chargeable only at the rate of 5% and assesses supplier mistakenly charged higher rate of 18% GST on input for final product, which is chargeable to lower rate of GST of 5%




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