CAclubindia Articles

Suncraft Energy Triumphs: No Unfair Tax Burden for Supplier's Slip-up

Posted by CA Kunal Jain 16 December 2023 4954 Views

In a landmark case, Suncraft Energy has emerged victorious against the Assistant Commissioner of State Tax, Ballygunge Charge, defying a demand for automatic reversal of input tax credit (ITC).

Business Choices: Sole Proprietorship vs. Partnership Firm

Posted by Ishita Ramani 16 December 2023 1191 Views

In this article, detailed information on what a Sole Proprietorship is and the difference between Sole Proprietorship and a partnership firm is discussed.

Jewellery Found During Search Not Abnormal for High Net Worth Individuals

Posted by CA Aman Rajput 16 December 2023 2107 Views

Whether jewellery found during a search at an HNI's premises could be considered unexplained income under section 69A of the Income-tax Act, 1961.

Why RBI withdrew the most popular money market product collateralized borrowing and lending (CBLO)

Posted by Shivaprasad Laxman Chhatre 15 December 2023 1999 Views

Why are major financial market regulators ignoring statute/s, while pushing new products/policies, and exotic ideas, overlooking serious systemic, legal risks to the market segment/s they regulate?

When Storage Becomes Manufacturing Under the Factories Act, 1948

Posted by CA Aman Rajput 15 December 2023 2619 Views

The line between warehousing and manufacturing can be blurry, especially when a warehouse engages in activities beyond mere storage. This can lead to questions about compliance with regulations like the Factories Act, 1948 (the "Act").

Form 12BB for employees to submit declaration and Investment proof to save their taxes

Posted by Sparsh Wadhwa 15 December 2023 5648 Views

Using Form 12BB, an employee has to declare the investments that they have made during the year. Documentary evidence of these investments and expenses has to be provided at the end of the financial year as well.

Download and Organize Form 16 Part B and Part A&B in Excel for FY 2023-24

Posted by Pranab Banerjee

15 December 2023 22376 Views

In this article, we will delve into the nitty-gritty of preparing Form 16 Part B and Part A&B in Excel for the Financial Year 2023-24.

AG (Accountant General) Certificate

Posted by Shivani 14 December 2023 8466 Views

The Accountant General is a government official responsible for maintaining financial records and ensuring the accuracy and transparency of financial transactions.

TCS On Remittance Under Liberalised Remittance Scheme & Overseas Tour Programme Package

Posted by Geetanjali Pandey 14 December 2023 3420 Views

In the realm of international financial transactions, the Liberalized Remittance Scheme (LRS) has become a popular avenue for Indian residents. This article delves into the intricacies of remittance under LRS and the consequential Tax Collection at Source (TCS) under Section 206C(1G) of the Income Tax Act.

GST Quarterly Return Filing Option for Small Businessman

Posted by Sparsh Wadhwa 14 December 2023 3378 Views

The Quarterly Return Filing Scheme permits eligible taxpayers to file their GSTR-1 and GSTR-3B returns on a quarterly basis, in preference to month-to-month.