CAclubindia Articles

File Form 29D to get refund

Neethi V. Kannanth 23 August 2022 at 08:55

The CBDT through notification no. G.S.R. 634(E) dated 17 August,2022 has amended Income Tax Rules, 1962. As per the notification, a non-resident is required to file Form 29D to claim refund. Read on to know more.

Limited Liability Partnership Act 2008

Venkat Raj 23 August 2022 at 08:55

Limited liability partnership ("LLP") is a new concept envisaged for ease of doing business which acts as an advantage compared to Partnership and Company. LLP can be constituted with 2 partners with one being designated partner.

What Are Bonds and Different Types of Bonds

Taxblock 22 August 2022 at 16:54

A bond is a financial instrument that is offered as a security to loans offered to an investor that is issued by a government or corporate entity. It bears a fixed repayment with a certain rate of interest the maturity or expiry of the due date to the investor.

Amount Received Under A Settlement Or Decree May Not Be Taxable Under IT Act 1961

Adv. Ravish Bhatt, ADIT, CIOT 22 August 2022 at 15:33

In practice, nature of receipt shall be determined by extensive scrutiny of pleadings in suit and / or recitals contained in the settlement agreement and careful drafting will be quintessential.

Clause 44: Clarifications as per new guidance note - AY 2022-2023

CA Sudhir Halakhandi 22 August 2022 at 12:30

Clause 44: Clarifications as per new guidance note for Assessment Year 2022-2023

"Handi" of Arrest in GST smashed by CBIC

CA Umesh Sharma 22 August 2022 at 11:55

On 17th August 2022 Instruction No. 02/2022-23 was issued following the judgement of the Supreme Court in Siddharth v. The State of Uttar Pradesh and Amr, with respect to arrest and bail. The Guidelines has also added that arrest should not be made in cases where is difference in interpretation of law.

ITR Verification Process

Poojitha Raam 22 August 2022 at 11:52

After the 31st July rush of filing the IT returns, the department of Income Tax has provided 120 days from filing of the return to e verify the return. The Central Board of Direct Taxes (CBDT) in the recent notification has cut down the time limit from 120 days to 30 days for ITRs filed on or after August 1st 2022.

Amendment in Rule 3 of the Companies (Accounts) Rules 2014

FCS Deepak Pratap Singh 22 August 2022 at 10:53

MCA has amended Rule 3 of the Companies (Accounts) Rules, 2014 through Circular dated 11th August, 2022.

Decoding ITC under GST: Eligibility and conditions with examples

Shruti 22 August 2022 at 09:29

Section 16: Eligibility and conditions for taking ITCWhat is the Eligibility Criteria?Every registered person shall be entitled to take credit of input tax char..

Credit of IGST Paid on Import of Goods not reflected in GSTR-2B

CA Sachin M Jain 22 August 2022 at 09:03

Importers can claim IGST and cess paid on their imports only after issuing the bill of entry (BoE). Hence, taxpayers must access the bill of entry on the portal to avail input tax credit seamlessly. The GST Network (GSTN) provides a framework to taxpayers for finding the relevant bill of entry.